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

nftreplicas.net

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

#21

Post by seibelj »

noutella wrote: post #13
seibelj wrote: post #9

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 h…

Tbh, a large part of the art market can indeed be called a scam that only exists as a tax evasion opportunity. Maybe that shouldn’t be the template for the so called Web3.

However even HN must admit the art world is a real industry, with a lot of big money players, and the reason things have value is not in the quality of the art.

I see the same argument rehashed over and over, and it's the same reason HN as a collective never understood or embraced crypto in general - a total lack of understanding combined with a total lack of imagination.

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

#22

Post by Aloha »

me_me_mu_mu wrote: post #11
lettergram wrote: post #8

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).

It makes for mega cringe lords like Gary Vee. Dude is like 60 and dresses like a Fortnite teenager so he can peddle NFTs to kids as an investment strategy. I always found him to be annoying and the NFT space basically confirmed it.

He's 46. I think NFT's are laughable, but if you're gonna play the agism card, at least get the details right.

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

#23

Post by berberous »

delecti wrote: post #14
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?

My understanding is that minting an NFT always costs money (gas fees that go to the broader mining network to pay the miners for doing the processing). So the cost isn't solely for the benefit of the website maintainers, though I'm sure they're taking a cut too.

The quoted fee is 100% a fee to the website and is separate from gas cost. He could charge no fee, but you would still pay gas. It's a cash grab.

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

#24

Post by zepto »

douglaswlance wrote: post #18

A Michael Jordan rookie card is worth tens to hundreds of thousands of dollars depending on grade. If I print a Michael Jordan rookie card onto cardstock, it will be worth basically nothing. The reason that something is valuable to collectors is the social contract between creator and recipient. The value in NFTs exists by that same social contract. You can't ignore that relationship when criticizing them, otherwise…

> The reason that something is valuable to collectors is the social contract between creator and recipient.

No, it’s because the valuable object is physically scarce, and exists as a material historical artifact independent of any ledger. NFTs have never and will never have these attributes.

You can't ignore this reality when advocating for them, otherwise you're peddling a fantasy.

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

#27

Post by contravariant »

Kiro wrote: post #10
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.

The word 'artificial' is similar but not quite the same as 'fake'.

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

#29

Post by altdataseller »

douglaswlance wrote: post #18

A Michael Jordan rookie card is worth tens to hundreds of thousands of dollars depending on grade. If I print a Michael Jordan rookie card onto cardstock, it will be worth basically nothing. The reason that something is valuable to collectors is the social contract between creator and recipient. The value in NFTs exists by that same social contract. You can't ignore that relationship when criticizing them, otherwise…

A MJ rookie card is worth a lot because it’s MJ, the best ball player of all time.

How is a NFT drawn by a random artist of a random image worth so much?

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

#30

Post by Kiro »

danuker wrote: post #19
Kiro wrote: post #10

Earlier quoted context omitted.

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.

How can you tell the whether a given piece is original? You'd have to build a database of all NFTs in order to check. And perhaps the new image is slightly altered making it original.

You see that it was minted by Wallet X, which the artist has confirmed is theirs. The image it's pointing to is irrelevant. You're buying a unique digital signature.

Is it inherently valuable? No, but it's scarce. There's only one such entry on the blockchain and it can only be owned by one wallet at a time.

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