TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

Post by The-Bus » Thu, Nov 18, 2021, 2:52 PM UTC

Uehreka wrote: post #105

baseballMan wrote: post #50

Earlier quoted context omitted.

I'm not an NFT fan by any stretch of the imagination but you can buy a reproduction of the Mona Lisa or a fake Mickey Mantle card. https://www.amazon.com/DECORARTS-Leonardo-Davinci-Classic-Re... Obviously, the real mona lisa or the mickey mantle card has value because they were painted by famous artists, or signed by a famous baseball player... But at the end of the day they only have value because someone says they…

But the thing is, I get the historical significance of the Mona Lisa and Mickey Mantle. I don’t need an appraiser or something to know why they have value. The value proposition of these Bored Apes is a lot less clear, and acting like “we all just play the game in our everyday lives already” is kind of hiding the ball.

Post by Deestan » Thu, Nov 18, 2021, 2:52 PM UTC

micromacrofoot wrote: post #3

yeah but only I have the certificate of authenticity

Post by cr1895 » Thu, Nov 18, 2021, 2:57 PM UTC

e_proxus wrote: post #92

goodoldneon wrote: post #79

Earlier quoted context omitted.

The painting example isn't valid. There's 1 original painting that only 1 person (or group) can own. Anyone who buys a print has something fundamentally different than I do; I have the painting hanging in my house. With a digital image, there isn't an original: all copies are equivalent (save for compression)

Actually, that would almost approach some "real" value for NFTs... Let's say you have digital artwork in a lossless format. You then take the world by storm with the compressed version. Everyone loves it. You sell an NFT with a hash/URI/encoding of the original uncompressed version encrypted so only the owner on the blockchain can decrypt it. Needlessly to say, this would only work for digital art that is compressibl…

Post by ARandumGuy » Thu, Nov 18, 2021, 2:58 PM UTC

ahelwer wrote: post #81

jensensbutton wrote: post #68

Earlier quoted context omitted.

> storage, fakes, and transaction costs. NFTs solve all three NFTs solve none of these problems. The underlying asset is not stored on the blockchain and can be deleted at any time. Fakes are unaddressed since you can only validate you are the owner of a specific url and there's no guarantee that what you own is the original version (bytes are easy to copy). Any validation of authenticity must happen OFF of the block…

You can argue against this all you want but these arguments sound eerily similar to the "it's just a slow database" type arguments of yesteryear. Bubbles can eventually have value, weirdly - their irrational nature can sort of act as a forcing function taking us out of a local maxima, facilitating the creation of entirely new unforeseeable and previously-impossible things that actually have value of some sort. With c…

Post by dcolkitt » Thu, Nov 18, 2021, 3:00 PM UTC

notkaiho wrote: post #51

dcolkitt wrote: post #38

Earlier quoted context omitted.

But you're not paying for the tangibility. Digital image replication is near perfect. You could have a tangible copy of the Mona Lisa that is physically indistinguishable from the real one. The reason people pay millions for artworks is because of the intangible provenance. If the value was the tangible, then tangible digital replications would sell for the same value as the original.

but a digital image is not tangible, i.e. something you can have displayed, in a physical frame, in meatspace.