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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

#51

Post by hellbannedguy »

Alex3917 wrote: post #17
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).

> I view NFTs as one of the dumbest things to come out of the crypto space. To understand the space, you need to come to terms with the fact that asking "is this a legitimate human need" isn't a useful or relevant question. Instead, you need to ask, "for people who are already demonstrating that they have this human need, does this technology enable that need to be met more efficiently." You might think the human nee…

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

#52

Post by simias »

costcofries wrote: post #31
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).

Not surprised that this is the top comment, it seems to be the overwhelming sentiment on HN, which is unfortunate. My perspective is that it's very early for NFTs and the large majority (you included) are fixating on what you're seeing in the space today, or put differently, you're being shortsighted. Mark your comment down and revisit it in a few years, having an opinion on the sidelines is just fine. Now let the do…

We've been hearing this tune from cryptoenthusiasts for over a decade now, maybe you should revisit your comments from a few years ago?

If you dig in my own comments on this website you can probably find discussions from 2017 or even earlier where I ask when people think that cryptocurrency tech is going to finally deliver something useful. It's always "one or two years from now". It's always "we're early". Remember ICOs? Remember how it was going to revolutionize IoT? Remember dapps? Remember lightning? It's been around the corner for years now.

Can you think of a single other technical innovation that required so much faith and patience before it delivered? Maybe self-driving cars, but even then I'd argue that it made immense progress compared to blockchain technology.

In the end you can hype it as much as you want, it's still fundamentally just a crappy, slow, extremely inefficient append-only database that's only relevant because it's super good at supporting pyramid schemes.

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

#53

Post by miracle2k »

Kiro wrote: post #30
danuker wrote: post #19

Earlier quoted context omitted.

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.

Right. You just ask the artist. And if you don't care who the artist is, then you can always buy the replica.

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

#54

Post by Guest42 »

Alex3917 wrote: post #17
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).

> I view NFTs as one of the dumbest things to come out of the crypto space. To understand the space, you need to come to terms with the fact that asking "is this a legitimate human need" isn't a useful or relevant question. Instead, you need to ask, "for people who are already demonstrating that they have this human need, does this technology enable that need to be met more efficiently." You might think the human nee…

1. There isn’t a need and it can’t be demonstrated via handwaving.

2. Investing in the imaginary shouldn’t be peddled by charlatans.

3. Comparing to Airbnb is inaccurate and intentionally misleading.

4. Sentences 1-2 are circular.

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

#55

Post by nradov »

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).

I agree NFTs are dumb, but some artists are getting paid huge amounts of real money for selling NFTs. If the artists can find suckers willing to pay then good for them.

https://www.theverge.com/2021/3/11/22325054/beeple-christies...

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

#56

Post by creeble »

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…

>The background of the artist and the piece's history is what gives it value

That, and the fact that there is only one, it's not digital, and it can be authenticated (and also the artist is dead, so it is guaranteed there won't be any more).

The "value" of an NFT is that there is only one unique occurrance of it in a pile of bits called a blockchain. It is very hard to hang it on a wall.

Web3: not satisfied with the fundamental principle of digital abundance, we invented digital scarcity.

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

#57

Post by zepto »

danuker wrote: post #44
zepto wrote: post #24

Earlier quoted context omitted.

> 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.

> independent of any ledger This seems an arbitrary restriction to me. Why must something be independent of a ledger to have value?

This is a property that NFTs can never have, so claiming that NFTs are equivalent to physical collectibles is certainly false.

If you are saying that something requires a ledger entry to have value, then you are simply proving that it has no intrinsic value.

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

#58

Post by joshmarlow »

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).

I have pretty mixed feelings about NFTs in general.

But I am intrigued by the use case of allowing a large number of individuals to patron a given artist (and give them recurring income on subsequent resale of their work). All else being equal, I would prefer to live in a society where artists and other makers have time to follow their passion and create instead of spending their time on some job just to pay the bills.

So to the extent that NFTs can enable that, I'm tentatively onboard.

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

#60

Post by vanusa »

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.

You're buying an entry on the blockchain and the scarcity of that is real.

Except that unlike the original object, or even a replica, "an entry on the blockchain" has -- no intrinsic value whatsoever. It's basically like you're buying the rights to a "Like" on that painting, or trading card, or whatever. Nothing more.

My hunch though is that 90 percent of the people buying these things are utterly oblivious to this distinction. And that, plus "it's new" and "it's value is just going to keep skyrocketing" is essentially what is driving the NFT "market" as such.

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