Nice job an all of this, but the real story is about how to capitalize on 40k Twitter followers.
1000 true fans is a great article that is well worth reading. It really does go to show that building a community can be a worthwhile task, even if it does take time the long term benefits can be huge.
I made $50K in three days with NFTs
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Re: I made $50K in three days with NFTs
#52A lot of dunking happening here - titles like this article's can definitely turn people away, as people have learned that money means something (undesirably) different in "crypto." That said, the article does provide a pretty good job documenting the creative process, the path to minting, and the launch of a campaign. I encourage anyone interested in the space to get past the triggering headline and give it a read.
edit: looks like the submission got flagged/removed from the feed on HN. sigh
Re: I made $50K in three days with NFTs
#53I just think it’s a way for people to show off their wealth. An NFT is pretty much a joke, “here’s the original” doesn’t really mean shit when I can quite literally have an exact and indistinguishable copy of the work. It honestly feels like insanity to me. Like, I can right now go set my avatar to the exact same Ape picture Curry purchased. It’s not even a replica, or recreation, it is literally the same exact image…
Would the Mona Lisa be valuable if DaVinci made one but we could make exact molecular replicas now? I would still say it would be valuable. You can make nearly indistinguishable copies off the Mona Lisa now, but they aren’t worth anything. The pictorial content of the Mona Lisa is only a small part of its value.
You’re sort of missing my point. An artist creating a similar work is not equivalent.
If they were atomically identical copies, they would be literally the same. Any idea of “difference” would be completely false. That’s the difference here, these (NFTs) are by all means atomic copies. They aren’t close to the same, they ARE the same.
If we could make atomic copies of the Mona Lisa it would surely drop in value… scarcity is what causes works like the Mona Lisa to be valuable. With an NFT there is no scarcity because unlimited duplicates, each as real as the original, can be produced for nearly free.
Re: I made $50K in three days with NFTs
#54Earlier quoted context omitted.
Although you may be right, OpenSea (the NFT Marketplace used in the article) does lazy minting. Of course, one can still not make any money if no one buys the NFT. The author writes about it here: > There's a bit of nuance to how OpenSea does things. They do so-called lazy minting. While you may need to pay an initial gas fee to list a new collection, each NFT listing does not require any fees. This works because the…
Why is it called "gas" fees?
The sibling comments appear to be accurate, but I think it’s more helpful to think of gas in this context as the fuel that powers gaslights.
The deceptive kind, follow?
Re: I made $50K in three days with NFTs
#55Why do people keep acting like this phenomenon is confusing? Like gee maybe people are really into mini Jpegs now. Or wow I guess if people really like spending buy-a-house money on a Twitter avatar this will be a thriving sector of the economy. I mean people really like gambling. Actually they fucking love it. Like they’ll build an entire city in the middle of an uninhabitable desert just to do it. They’ll give up t…
Your comment reminded me of this excellent post, best read with its fun accompanying illustrations, "How Money Forever Changed Us": https://moretothat.com/how-money-forever-changed-us/ Specifically, the discussion of the "pogs" craze in elementary schools in the US in the 90s. "Basically, a nice little gambling ring was growing amongst us starry-eyed 2nd graders." The OP would certainly read differently if he wrote,…
> The OP would certainly read differently if he wrote, "How I won $50K in 3 days with NFTs", rather than saying how he "made" $50K.
Well said
Re: I made $50K in three days with NFTs
#56Why do people keep acting like this phenomenon is confusing? Like gee maybe people are really into mini Jpegs now. Or wow I guess if people really like spending buy-a-house money on a Twitter avatar this will be a thriving sector of the economy. I mean people really like gambling. Actually they fucking love it. Like they’ll build an entire city in the middle of an uninhabitable desert just to do it. They’ll give up t…
The most truthful and enlightening thing anyone has written about cryptocurrencies / cryptoassets yet.
Re: I made $50K in three days with NFTs
#57Earlier quoted context omitted.
If the NFTs could be bought and sold, this would finally allow a decentralized secondary market for DRM media.
I... don't like where those ideas are going. At this point I long for pre-Internet days, where physical media (tapes, CDs, books) achieved the same goal while wasting much less resources than it takes to keep the blockchain that would support the NFTs. I also think that anything that further solidifies IP enforcement is going to kill the future. Consider that one of these days, we might progress enough to be able to…
Digital art isn't scarce by its very nature - NFTs are an attempt to re-introduce scarcity, and it's fucking depressing. My childhood dream of improving the world by inventing things is a pipe dream; every bit of progress gets mopped up by the people who need it least.
Re: I made $50K in three days with NFTs
#58Earlier quoted context omitted.
I... don't like where those ideas are going. At this point I long for pre-Internet days, where physical media (tapes, CDs, books) achieved the same goal while wasting much less resources than it takes to keep the blockchain that would support the NFTs. I also think that anything that further solidifies IP enforcement is going to kill the future. Consider that one of these days, we might progress enough to be able to…
Artists directly making money from their art without intermediaries taking huge cuts (and with resales giving them a percentage on top of it) is absolutely not going to kill the future, it's just going to incentivize better creation of art. Scarcity makes economic sense for various kinds of art and there are many fields that have been destroyed by the Internet (i.e. music). It's only natural for the solution to also…
Music is flourishing - it's the music industry that has been destroyed by the Internet.
Re: I made $50K in three days with NFTs
#59Re: I made $50K in three days with NFTs
#60I just think it’s a way for people to show off their wealth. An NFT is pretty much a joke, “here’s the original” doesn’t really mean shit when I can quite literally have an exact and indistinguishable copy of the work. It honestly feels like insanity to me. Like, I can right now go set my avatar to the exact same Ape picture Curry purchased. It’s not even a replica, or recreation, it is literally the same exact image…
Would the Mona Lisa be valuable if DaVinci made one but we could make exact molecular replicas now? I would still say it would be valuable. You can make nearly indistinguishable copies off the Mona Lisa now, but they aren’t worth anything. The pictorial content of the Mona Lisa is only a small part of its value.
What’s also usually difficult to keep in mind today is that before photography you had to physically go to visit a painting itself to see it. The Mona Lisa became famous partially also because once the painting was stolen, most people couldn’t actually find out what it looked like.
This is something that we always miss with art - even on a digital screen you’re always only looking at a reproduction.
But it makes sense that, like with paintings, NFT’s could gain or lose value with the story of who it belongs to and when and how it was purchased. It makes perfect sense for celebrities to be purchasing these things.