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Beeple Mania

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Re: Beeple Mania

#21

Post by fumblebee »

qixxiq wrote: post #11

I bought one of his "Into the Ether" NFTs[1] but now I'm in a fairly interesting position. If I prove ownership of the artwork (via a signed message from the address) then Beeple will send the physical artwork to me but it'll immediately lose a high percentage of its value (currently trading at ~$90,000 from $969 original). Right now it's owned/stored by the artist and someone buying the piece from me would be able t…

Out of curiosity, when did you buy the artwork? $969 -> ~$90,000 is astounding, and I'm assuming it happened within a short time frame.

Re: Beeple Mania

#22

Post by donbrae »

Been a fan of his work for a few years now. He let me use a couple of his pieces as album art. Seems like a cool guy and it’s great to see his continued success.

Re: Beeple Mania

#23

Post by acomjean »

ArtWomb wrote: post #4

“Why would you spend $5,000 on an MP4?" That's the $64k question. Who, exactly, is buying rare digital art? It doesn't seem to be traditional collectors, dealers or major institutions. But the same contingent of crypto "whales" speculating in alt-coin assets. A simple bot could even be employed to track auction prices and automate trades. In a sense its not dissimilar to inter-market dealing among art galleries. With…

Its probably people with Crypto currency thats way up in value and a need to do something with it.

Re: Beeple Mania

#24

Post by egypturnash »

This morning I had a dream where someone named "Beepliani" was trying to talk to a lady who was tired of being hit on while she was just trying to make a train journey. And then I wake up and write that down in my dream journal and pick up the tablet next to my bed, and here's... this.

Well okay, fuck it, I got rent to pay and I got a bunch of art lying around that's had a lot more love put into it than what I'm seeing on the front page of Nifty. I'm hitting that signup button despite my general misgivings about the huge energy cost of crypto.

Re: Beeple Mania

#25

Post by TigeriusKirk »

jadams5 wrote: post #15

NBA Top Shot is major sports' entry into NFTs and is already dominating by market cap while it's still in beta. I've only been following it for a few weeks, but collectors are going nuts, but not quite to the point of some other NFTs yet. It still seems to be a fairly small crowd doing most of the buying and selling compared to the NBA's broad reach.

I follow NFTs closely and it seems like of the present crop of projects, Top Shot has the most obvious path to a sustainable future. Sports collectibles are already a thing, and official league-sanctioned digital collectibles are a natural growth. MLB dipped a toe in with virtual bobbleheads, but collecting video clips of plays makes more sense.

I don't know that the 5 figure prices will last forever, but the market probably will.

Cryptopunks is the only "native" NFT I feel will likely keep a market. Again, maybe not at present levels, but it's got enough of a cool factor to last.

And Beeple as the artist with the brightest future, obviously.

Re: Beeple Mania

#26

Post by christiansakai »

Pulcinella wrote: post #17

I submitted this a few days ago without any traction: https://joanielemercier.com/the-problem-of-cryptoart/ Honestly I can’t do anything but shake my head in disapproval about crypto-art (and crypto currency in general) when it involves wasting so much energy.

PoS blockchain like Cardano network now only consumes an energy as big as a household. They already have NFT implemented.

Re: Beeple Mania

#27

Post by Fraterkes »

One of the interesting things I got out of this article is that Beeple and his wife actually ended up creating physical artifacts to send out to the people who bought their art. In a way that feels like the more salient (and obvious) innovation: it gives buyers of digital art a way to show lay-people that they actually own the piece itself and not just a print.

It's also interesting that these nfts are rarely presented as solutions to prove the ownership of non-digital art. There are millions of people who own (very convincing) prints of Mondrians, and yet when we enter the home of someone rich enough to buy an actual Mondrian we usually just assume all the art hanging on their walls are originals.

That's what seems counterintuitive about all this: In a sense this is the most successfull instance of NFTs being used to sell digital art yet, but also the most unnecessary. If you are a crypto millionaire from Singapore you don't need NFTs to convince anyone you actually own the Beeple piece you say you own.

(Although an obvious use of all this is that it turns digital art into a store of value that buyers can potentially sell at a higher price.)

Re: Beeple Mania

#29

Post by px43 »

egypturnash wrote: post #24

This morning I had a dream where someone named "Beepliani" was trying to talk to a lady who was tired of being hit on while she was just trying to make a train journey. And then I wake up and write that down in my dream journal and pick up the tablet next to my bed, and here's... this. Well okay, fuck it, I got rent to pay and I got a bunch of art lying around that's had a lot more love put into it than what I'm seei…

> despite my general misgivings about the huge energy cost of crypto.

Are you really concerned about people utilizing electricity, or are you actually concerned about carbon footprint? If the carbon thing, look where crypto-mining happens. It's almost exclusively with overflow power from areas that get their energy from hydro, wind, geothermal etc, so the additional carbon produced by mining is negligible.

Second, Ethereum, on which all serious NFT activity is based, is midway through a transition from PoW to PoS (proof-of-work to proof-of-stake) where people demonstrate their commitment to validating transactions by locking up their funds rather than burning electricity. There are over 3 million ETH locked, which is over 6 billion dollars at the moment, and growing, all to validate transactions on this new PoS network.

https://www.duneanalytics.com/hagaetc/eth2-0-deposits

Re: Beeple Mania

#30

Post by cma »

acomjean wrote: post #23
ArtWomb wrote: post #4

“Why would you spend $5,000 on an MP4?" That's the $64k question. Who, exactly, is buying rare digital art? It doesn't seem to be traditional collectors, dealers or major institutions. But the same contingent of crypto "whales" speculating in alt-coin assets. A simple bot could even be employed to track auction prices and automate trades. In a sense its not dissimilar to inter-market dealing among art galleries. With…

Its probably people with Crypto currency thats way up in value and a need to do something with it.

So... money laundering? Or just people with too many gains looking for something to spend it on?
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