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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

#61

Post by allenu »

boatsie wrote: post #40
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 had this opinion too, but if you think about something like trading cards or any other “limited” collectibles that were mass produced, rather than one of a kind art, it’s sort of the same thing with regards to artificial scarcity.

I think this is where a lot of us don't see the similarity between artificial and real scarcity. The real scarcity of physical collectibles is not only due to their limited numbers, but also, I believe, due to the fact that they are physical objects that can degrade in quality or be lost entirely. That's a world of difference from digital bits that are just not allowed to be copied.

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

#62

Post by natechols »

seibelj wrote: post #21
noutella wrote: post #13

Earlier quoted context omitted.

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.

So you're telling me NFTs are exactly like an industry that exists almost entirely to service the ultra-wealthy looking for new ways to hide their assets and/or show off with conspicuous consumption? That's pretty much all I need to hear to decide it's a bunch of BS. Find a use for NFTs that affects those of us without massive disposable income, and maybe I'll be impressed.

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

#63

Post by AnIdiotOnTheNet »

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.

But anyone can create infinite ledgers and create their own entries on those ledgers all day. Snowflakes are unique too, but that doesn't mean any of them are particularly valuable.

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

#64

Post by 0x500x79 »

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 Michael Jordan rookie card is rare because only a certain number of them were physically made. An NFT is rare because we decide it is rare (the physical constraints are not the same as the rookie card), I don't know if they are exactly the same. The minted copy here is exactly the same, pixel by pixel, to the original.

I also find that when we start applying analogies to something as an argument we are detaching from the reality of what we have. It is meant to simplify, and appeal to people who are not familiar with the topic at hand. No matter how wrong the analogy is (or right) we are inherently shifting the conversations to something different. I know this analogy is trying to say an NFT is scarce, but it IS quite different than a Michael Jordan rookie card in its execution, management, and a lot of the things that make a Michael Jordan rookie card worth hundreds of thousands of dollars.

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

#65

Post by ozgune »

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…

> 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.

I think the original comment isn’t arguing that “this isn’t a legitimate human need.” I think it’s arguing that neither the tech is innovative nor the offered solution is unique.

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

#66

Post by [deleted] »

Aloha wrote: post #22
me_me_mu_mu wrote: post #11

Earlier quoted context omitted.

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.

[deleted]

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

#67

Post by falcolas »

boatsie wrote: post #40
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 had this opinion too, but if you think about something like trading cards or any other “limited” collectibles that were mass produced, rather than one of a kind art, it’s sort of the same thing with regards to artificial scarcity.

NFTs aren't trading cards.

They're receipts showing that you "own" the card on display in the public square. And more than one receipt can be minted for that card. The most you can hope for is the earliest timestamp on the receipt.

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

#68

Post by vmception »

selectodude wrote: post #7
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.

Looks like SaaS to me. Looks like the funnel is superior and small too. We should just be discussing the revenue multiple, since the same standard should apply. What year does that start?

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

#69

Post by theWreckluse »

andybak wrote: post #12
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.

> the scarcity of that is real. Scarcity on it's own does not equal value. The value comes either from social consensus or direct utility. Real numbers are scarce. There's only one of each.

> Real numbers are scarce. There’s only one of each.

This gives me ideas! Who wants to join me in this new fad?

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

#70

Post by max48 »

mmaunder wrote: post #41

The most interesting aspect of NFTs IMO is that they explore what ownership really means. Is it physically possessing something? Is it a receipt? Is it provenance? Is it the ability to destroy something permanently? Is it the ability to deny others access? Is it irrefutable and verifiable proof, without trusting any single entity, that an entity holds an exclusive status relative to a good?

it's none of these things because all you buy is an hyperlink. If the art itself was hosted on the blockchain directly (they are not, it would be too expensive), then it would be interesting.
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