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Beeple Mania

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Re: Beeple Mania

#61

Post by bondarchuk »

libertine wrote: post #18
3np wrote: post #9

Earlier quoted context omitted.

I think that, just like the first NFT craze (Cryptokitties), a lot of it is conscious money down the drain from people who already got dirty rich and now care less about $100k than about stimulating the market and promoting the growth of cryptocurrencies in general. They'll throw money at anything they perceive as aligning with their vision of what should come. Consider the case that this truly is here to stay. Kind…

I understand that, but those are the wrong motivations in my point of view. That's just overbloated hyped, I don't see it stick. >Kind of cool to be able to flair one of the first really pricey NFTs, which also happens to be an art piece you think is kind of rad. Which you nailed here, it's like they are pricey for the sake of being pricey. Or they're unique for the sake of being unique, not being unique because ther…

If we use the Dow Jones index with dividends reinvested as a proxy for inflation, instead of the phony official stats, then we can see that Picasso's self portrait, which was sold in May 1989 for 98.7m usd, would be worth 1.2 billion in today's dollars.

Re: Beeple Mania

#62

Post by kobasa »

iamben wrote: post #37
casi wrote: post #35

Earlier quoted context omitted.

Would you spend $5k for the streaming rights to an mp4? Thats generally where people see NFTs going. Mark Cuban was talking about this yesterday on bankless podcast, how an NFT can contain all the royalty payments for e.g. a film or tv show, director/producer/actors/editors, and when someone wants to show it they rent it for a period of time (or buy it to rent to others), their rent payment instantly divided across e…

What rights do you own with an NFT? Say I bought a digital piece, can I print it on a million t-shirts and sell them? Or does the artist still retain the copyright etc.? I've seen people minting tweets as NFTs - again, how does the copyright work here. Genuine question - seen NFTs come up a lot over the last fortnight - don't really understand it at all (which makes me feel old!).

Hashmasks for example gave everyone copyright to their specific piece. And they're quite visually appealing too.

Re: Beeple Mania

#63

Post by Igelau »

I don't understand NFT. Why would I care that there's an entry in a blockchain that says "$USER owns the thing at $TOKEN_URI, here's its $HASH"

I could say "I have dibs on Lake Louise" and make a blockchain entry that echoes this claim via some token... and so what? That's supposed to be worth something?

I'm not grokking this. If anyone can explain how NFTs are a thing at all or worth anything? Heads up: if you use the word "fiat" I'll know you're a hustler.

Re: Beeple Mania

#64

Post by [deleted] »

christiansakai wrote: post #53
CositaS wrote: post #48

Earlier quoted context omitted.

I always see people point to 'just round the corner' future Proof of Stake systems when the energy waste topic comes up, but it seems like there are still a lot of big unsolved challenges with that, as well as new problems introduced by it. As long as there's no actual widespread fully working currency using only PoS, it's a bit like justifying the emissions from flying by pointing to experimental solar powered aircr…

Not sure what you mean, there are already blockchains out there using only PoS... Cardano already uses PoS

[deleted]

Re: Beeple Mania

#65

Post by [deleted] »

christiansakai wrote: post #53
CositaS wrote: post #48

Earlier quoted context omitted.

I always see people point to 'just round the corner' future Proof of Stake systems when the energy waste topic comes up, but it seems like there are still a lot of big unsolved challenges with that, as well as new problems introduced by it. As long as there's no actual widespread fully working currency using only PoS, it's a bit like justifying the emissions from flying by pointing to experimental solar powered aircr…

Not sure what you mean, there are already blockchains out there using only PoS... Cardano already uses PoS

[deleted]

Re: Beeple Mania

#66

Post by Animats »

There's getting to be a whole industry of this stuff. There's "virtual land on a blockchain". That's Decentraland, Sominium Space, and Upland. Decentraland and Sominium Space have 3D worlds you can visit on line, and you can build stuff on your virtual land. Upland didn't bother. They just have trading cards.

Non-fungible tokens look a lot like initial coin offerings 2.0. There are going to be a lot of sucker bets.

"If you've been in the game for half an hour and you don't know who the patsy is, you're the patsy."

Re: Beeple Mania

#67

Post by madjin »

Animats wrote: post #66

There's getting to be a whole industry of this stuff. There's "virtual land on a blockchain". That's Decentraland, Sominium Space, and Upland. Decentraland and Sominium Space have 3D worlds you can visit on line, and you can build stuff on your virtual land. Upland didn't bother. They just have trading cards. Non-fungible tokens look a lot like initial coin offerings 2.0. There are going to be a lot of sucker bets. "…

It gets pretty specialized, there's a few virtual construction companies already that build content on blockchain land. For the land owners, building cool stuff on the land can increase the value of the real estate which they can choose to resell later on the secondary market. Voxelarchitects are one example doing such in cryptovoxels.

I'm interested when the things you own in one place can be used in other places. Cryptoart has been at the spear tip for interoperability since every world wants to support artists in having a gallery on their platform.

Re: Beeple Mania

#68

Post by donjigweed »

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.

Watching TV at home "wastes energy." Going out to dinner "wastes energy." Doing anything except working on a cure for cancer "wastes energy." In fact, even people working on a cure for cancer or a covid vaccine will only see the fruits of their righteous labor used to enable millions to....waste energy.

This is literally the worst argument against crypto.

Re: Beeple Mania

#69

Post by aeturnum »

adamch wrote: post #31
BenoitEssiambre wrote: post #13

Using blockchain to identify ownership of digital art is imo the first use case that makes sense. Who would want to own a coin number when you can own a masterpiece.

How do you "own" something that everyone else can consume and replicate? Owning a physical item implies a degree of control over it. Owning a public digital item doesn't seem to grant any kind of control. I feel like this is a classic case of "tree falls in a forest, does anyone hear it?" where the confusion relies on the word "hear" being used in two ways (objective sound waves travelling through air, vs subjective…

>Is the word "own" being used in two ways here?

I think the folks in the crypto world are using it one way and you're introducing a second meaning. They just mean "own" in the legal-rights way. Like one might "own" a company if they buy all the stock, even if they've never seen it.

> Owning a public digital item doesn't seem to grant any kind of control.

Owning a digital item is basically just buying the copyright. It's not everything, but it's real.

Ownership is, in all cases, a limited right. You can imagine two identical cars parked on the street - you own the first, the second has been abandoned by its owner. It would be equally hard for someone to take either car. Ownership 'just' means you can request the help of civic society in retrieving it.

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