NFT Replicas: An app to mint a replica of virtually any NFT

#1

Post by globetro » Thu, Dec 23, 2021, 4:14 PM UTC

NFT Replicas: An app to mint a replica of virtually any NFT
nftreplicas.net

Re: NFT Replicas: An app to mint a replica of virtually any NFT

#2

Post by cfstras » Thu, Dec 23, 2021, 5:06 PM UTC

> The price for a replica starts at 0.001 ETH. Each time a particular NFT piece is replicated, its next replication cost will double. So be sure to replicate popular pieces early!

So who gets the replication fees? Is this just a cash grab by the authors of the site?

Re: NFT Replicas: An app to mint a replica of virtually any NFT

#3

Post by danuker » Thu, Dec 23, 2021, 5:06 PM UTC

I was about to praise this tool for exposing the artificial scarcity that are NFTs. It is trivial to mint your own copy.

Then I read the following in the FAQ:

> The price for a replica starts at 0.001 ETH. Each time a particular NFT piece is replicated, its next replication cost will double. So be sure to replicate popular pieces early!

Re: NFT Replicas: An app to mint a replica of virtually any NFT

#4

Post by akoumjian » Thu, Dec 23, 2021, 5:06 PM UTC

I was hoping somebody would make this.

Re: NFT Replicas: An app to mint a replica of virtually any NFT

#5

Post by smt88 » Thu, Dec 23, 2021, 5:07 PM UTC

Soon you'll need a way to authenticate NFTs (prove that the one you're bidding on was minted by the advertised artist), and then you'll immediately lose the proposed benefits of NFTs -- decentralization and anonymous trust.

Re: NFT Replicas: An app to mint a replica of virtually any NFT

#6

Post by andybak » Thu, Dec 23, 2021, 5:07 PM UTC

danuker wrote: post #3

I was about to praise this tool for exposing the artificial scarcity that are NFTs. It is trivial to mint your own copy. Then I read the following in the FAQ: > The price for a replica starts at 0.001 ETH. Each time a particular NFT piece is replicated, its next replication cost will double. So be sure to replicate popular pieces early!

So somebody will launch a rival without this limitation.

The quicker can we play through this entire thing, the sooner it will be over.

Re: NFT Replicas: An app to mint a replica of virtually any NFT

#7

Post by selectodude » Thu, Dec 23, 2021, 5:08 PM UTC

cfstras wrote: post #2

> The price for a replica starts at 0.001 ETH. Each time a particular NFT piece is replicated, its next replication cost will double. So be sure to replicate popular pieces early! So who gets the replication fees? Is this just a cash grab by the authors of the site?

It's crypto. The entire idea is a cash grab.

Re: NFT Replicas: An app to mint a replica of virtually any NFT

#8

Post by lettergram » Thu, Dec 23, 2021, 5:08 PM UTC

I have to be honest. I view NFTs as one of the dumbest things to come out of the crypto space. I see the use cases, but frankly I don’t think it’s innovative nor does it solve something in a really unique way.

Part of the point of digital assets are that they can be copied. If you don’t want to copy them, you can validate with the issuing authority (which is virtually all NFTs as it is).

Re: NFT Replicas: An app to mint a replica of virtually any NFT

#9

Post by seibelj » Thu, Dec 23, 2021, 5:09 PM UTC

Prints are a near-perfect replica of any painting, and also professional forgers routinely copy works of, or create original works of, major artists in order to make a lot of money. However prints are typically worth a fraction of the original work, and the moment a forged painting is discovered its value plummets.

The value of the NFT is not primarily in how it looks. The value of the NFT is in the provenance, the history, the background of the creator, etc.

This why Onement V, a blue background with a lighter blue vertical stripe, is worth $30 million https://www.wikiart.org/en/barnett-newman/onement-v-1952

The painting is something my toddler could create. The background of the artist and the piece's history is what gives it value https://en.wikipedia.org/wiki/Barnett_Newman

Re: NFT Replicas: An app to mint a replica of virtually any NFT

#10

Post by Kiro » Thu, Dec 23, 2021, 5:09 PM UTC

danuker wrote: post #3

I was about to praise this tool for exposing the artificial scarcity that are NFTs. It is trivial to mint your own copy. Then I read the following in the FAQ: > The price for a replica starts at 0.001 ETH. Each time a particular NFT piece is replicated, its next replication cost will double. So be sure to replicate popular pieces early!

They are not copies though. They are replicas. The original is still unique. You're buying an entry on the blockchain and the scarcity of that is real.