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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

#141

Post by max48 »

creeble wrote: post #56
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…

>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.

It's worst than that because almost all NFTs are only an pointer/URL and the art itself is not on the chain.

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

#142

Post by timcott »

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).

For a digitally savvy community, HN takes on NFTs are surprisingly backwards looking. NFTs most people have seen/heard of are just links to a JPEG with little to no utility. That has caused all the hype/OpenSea volume, but there are many interesting crypto projects that ascribe utility to NFTs (but are also much less accessible).

Interesting NFTs are those that: prove identity, serve as a key to a private community, yield tokens with utility, prove ownership of an asset that generates royalties, augment a gaming experience, etc.

What's unique about how NFTs solve existing problems is fundamental to crypto - the data layer is open source, so everything is composable. Maybe the folks here working for large cap tech firms in effort to monetize proprietary data are offended by that.

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

#143

Post by slg »

basch wrote: post #104
slg wrote: post #43

Earlier quoted context omitted.

>I have to be honest. I view NFTs as one of the dumbest things to come out of the crypto space. This is so obvious to me that it is tough to stop myself from believing that everyone knows this and is just ignoring it in an attempt to make a quick buck. There are much better arguments for cryptocurrency. I happen to think they are generally overvalued and overhyped, but there is also real utility at the heart of it th…

Philosophically, I think there is something there. How do you create scarcity in a digital infinitely copyable world, without an authority figure. With baseball cards and pokemon cards, you can create artificial scarcity by only printing so many in a run. NFT scarcity is really no sillier than baseball card scarcity. The original creator says "this collection has x amount." What makes that matter is that they said so…

> How do you create scarcity in a digital infinitely copyable world

Your premise rests on this question. My counter is what is the value in creating scarcity beyond just trying to make money? Your examples are about people investing in money and not losing those assets. Your experience example is not really digital scarcity if I understand your hypothetical correctly. It is about a real physical scarcity, the number of people who will be let into the experience, being represented in a digital world. There is no new innovation there.

To me the idea of creating scarcity out of something that is not scarce is done for one and only one reason, for a financial benefit.

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

#144

Post by kranke155 »

blueski wrote: post #109
MrPatan wrote: post #88

Earlier quoted context omitted.

When Gmail came along, like a decade after the web started getting popular, there were countless people, very much like you now, telling everybody how much better their desktop email app was. Nfts may or may not be the blockchain's killer app (I think they are), but the average person's track record identifying a technology's killer app is a tad less than perfect

I'd argue the exponential growth curves for Gmail, Maps, and Facebook (with no financial reward for the user) suggests there was a good appreciation of the utility. When will get an equivalent Web3 app that isn't predominantly driven by price speculation? What will this look like?

That’s not here yet but dapps do have millions of users already.

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

#145

Post by miracle2k »

ninepoints wrote: post #103
miracle2k wrote: post #72

Earlier quoted context omitted.

Yes, that is speculation. But there is also great art being sold that you may feel good about owning.

And by "owning" what's meant is a signed hash of some URL that fits in a few kilobytes at most.

What do you think is it about those few kB on the chain that you think people do own? Can't those bytes be also easily copied?

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

#146

Post by pkdpic »

slg wrote: post #43
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 to be honest. I view NFTs as one of the dumbest things to come out of the crypto space. This is so obvious to me that it is tough to stop myself from believing that everyone knows this and is just ignoring it in an attempt to make a quick buck. There are much better arguments for cryptocurrency. I happen to think they are generally overvalued and overhyped, but there is also real utility at the heart of it th…

> Part of the point of digital assets are that they can be copied

As someone still fairly new to this industry still enamored with all the naïve big-picture stuff I was under the impression that the ease and immediacy of copying digital information was nearly the ENTIRE point. Or at least the biggest characteristic that distinguishes digital information technology from other human innovations historically. That and hash tables maybe.

As a former art school hippie I regularly start to get creeping FOMO regarding the NFT train, and feel like Im fighting the future or being stubborn.

Then I remember NFT / Crypto advocates are the ones fighting the future with this sad attempt to impose clunky energy consuming systems of false scarcity on digital systems that undermine that kind of old-world scarcity on a foundational level.

Again, I don't know what I'm talking about but Im enjoying learning more from these threads / posts.

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

#147

Post by kranke155 »

officeplant wrote: post #128
costcofries wrote: post #31

Earlier quoted context omitted.

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…

I believe a lot of us would be more excited if they weren't also a frustrating grifter paradise. People rant and rave about how this is a huge when for digital artists while ignoring the darker side. I see more and more small artists venting their frustrations in fighting with the NFT markets to get their stolen art taken down. Also in dealing with crypto bros cyberbullying them for refusing to participate in this wh…

The stolen art thing is a problem screaming for a technical solution.

Outside of that, 99% of the artist I know are super happy NFTs exist and they can make money out of them.

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

#148

Post by zepto »

danuker wrote: post #132
zepto wrote: post #126

Earlier quoted context omitted.

> If you use "what someone last paid for it" as a measure of intrinsic value, then they have intrinsic value. Clearly this doesn’t meet the requirements of an objective measure . A single tulip bulb was purchased for 2500 florins in 1636. That represents 10 years of a skilled laborers earnings at the time. If you believe that the price an NFT sold for on a ledger represents its intrinsic value , then you must also be…

> objective measure How would a bunch of subjective meatbags be able to come up with an objective measure? If everyone agreed that X is an objective measure, it could still be wrong. Give me a concrete example of what you think is an objective measure.

Sorry - I edited my comment while you were posting this. Feel free to reply to my full comment, since I address the consequences of this line of reasoning there.

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

#149

Post by cbm-vic-20 »

basch wrote: post #104
slg wrote: post #43

Earlier quoted context omitted.

>I have to be honest. I view NFTs as one of the dumbest things to come out of the crypto space. This is so obvious to me that it is tough to stop myself from believing that everyone knows this and is just ignoring it in an attempt to make a quick buck. There are much better arguments for cryptocurrency. I happen to think they are generally overvalued and overhyped, but there is also real utility at the heart of it th…

Philosophically, I think there is something there. How do you create scarcity in a digital infinitely copyable world, without an authority figure. With baseball cards and pokemon cards, you can create artificial scarcity by only printing so many in a run. NFT scarcity is really no sillier than baseball card scarcity. The original creator says "this collection has x amount." What makes that matter is that they said so…

I can definitely see the use-case for things like Pokemon or Magic: The Gathering cards, the NFT being issued for each individual copy, and signed by the game company. This way, rare cards can remain rare, can be used to play a game, and ultimately, can be traded/sold just like physical cards. The paper trail leading back to the company will be recorded in the blockchain.

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

#150

Post by NelsonMinar »

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.

I own the only unique real copy of c6922832e65b60ab8517d7c1c5fd5911. Its scarcity, too, is real.
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