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

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

#221

Post by llimos »

exdsq wrote: post #195
swalsh wrote: post #75

Earlier quoted context omitted.

/* FYI, the down arrow is not an indication of agreement, it is an indication of quality. If you disagree with me, at least have the common courtesy to comment. */ It's a shame the acronym NFT has become synonymous with digital images. As a concept it's a huge idea with so much potential. The issue is people now hear NFT, and their mind shuts down thinking it's some stupid monkey picture thing. Everything you can do…

NFTs in regards to digital licences and tickets to events are game-changers in my eyes. I wish the focus was on that instead of on jpegs. If anyone is working on these, or wants to work on these, I'd be keen to collaborate.

Both of those have a central authority that is granting the relevant rights. What's the advantage of an NFT over letting that central authority manage it in a centralized database? And if they won't agree to facilitate transfers, why would they agree to release the license/ticket as an NFT to begin with?

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

#222

Post by zepto »

danuker wrote: post #218
zepto wrote: post #217

Earlier quoted context omitted.

Everything is valued this way. All purchases are based on what people think the thing is worth. Discounted cash flows, etc, are all ways people use to come to their ‘subjective’ conclusions. It ends up being circular though - yes, human judgement is ultimately part of the equation, but that judgment end up being based on a prediction of future value, and often we can use understanding of markets or the intrinsic valu…

And therefore... nothing has intrinsic value?

Only you and other NFT advocates seem to be drawing that conclusion.

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

#223

Post by max48 »

seibelj wrote: post #201
bootlooped wrote: post #194

Earlier quoted context omitted.

And the provenance of which NFT is legitimate and/or original is not on the chain either. I create myartwork.jpeg. Somebody creates an NFT of it. Later, I create an NFT of it. Even later a bunch of people make NFT replicas of both. Which NFT is legitimate? The blockchain doesn't know.

If you publicly state which smart contract is your NFT, then that would be the real one. Similarly someone could claim a physical painting is yours, but you could publicly say it isn't. The blockchain doesn't know anymore than a physical canvas "knows" what is real and what is fake. The blockchain is a tool, the artist is the creator and arbiter of what the real NFT is.

that's a very bad comparaison for 2 reasons:

1) Regardless of if the physical painting is the original or a copy made a talented painter, you can still enjoy how it looks on the wall. The painting doesn't magically disintegrate if you find out the certificate was forged. You also have no option but to buy it (or a replica) if you want to place it own your wall.

With an NFT, the art itself is available to anyone, regardless of if you own the NFT. You never needed to buy an NFT to enjoy the art. The only thing of value in an NFT is the NFT itself, not the art that it represent. If the NFT is not authentic, it's a much bigger deal because now it loses all of its value, not just a portion of it.

2) Creating a fake painting that looks "original", even to an amateur that doesn't know anything about art, is hard and expensive. Even when the painter isn't trying to pass it as the original one, it can easily cost thousands of dollars to get decent quality replica that looks close to the real thing.

To replicate the art of an NFT, it just takes a few clicks. It's not difficult or expensive to copy it. If you can't figure out how to do it, you probably don't need to spend more than 10$ to get someone online to do it for you.

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

#224

Post by Kiro »

vanusa wrote: post #184
Kiro wrote: post #108

Earlier quoted context omitted.

I don't claim it has intrinsic value (what has?) but it's still scarce. There's one entry on the blockchain and it's unique, even if it's just a number and a trace to the original wallet. I also don't disagree with your second paragraph.

I don't claim it has intrinsic value (what has?) Gosh, I don't know -- a loaf of bread? A shiny new car? Do you understand the meaning of the word, actually? But it's still scarce. So what?

Why the attitude? I'm responding to a post saying it is not actually scarce and explaining why I think it is. I'm not arguing for NFTs, but even if I did I don't think it warrants such a snarky response.

Anyway, my point with that parentheses was that there are a lot of things that has no intrinsic value but still has value on the market.

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

#225

Post by Kiro »

NelsonMinar wrote: post #216
Kiro wrote: post #187

Earlier quoted context omitted.

Not sure what you're saying here but if you put c6922832e65b60ab8517d7c1c5fd5911 as a token on the blockchain there will indeed only be one with only one owner (you). The uniqueness is that it was minted by your wallet. There cannot be another entry like that. NFTs are mostly just that. An ID minted by Wallet X which itself is unique and the social contract gives it a value. That's it.

Thank goodness your use of c6922832e65b60ab8517d7c1c5fd5911 did not impinge on my personal ownership of this valuable number. Plznorightclick.

Alright. I take it you don't want to discuss this seriously.

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

#226

Post by jshen »

basch wrote: post #152
slg wrote: post #143

Earlier quoted context omitted.

> 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…

>what is the value in creating scarcity beyond just trying to make money? Gameplay balancing. We've crossed a very blurred line of gaming, role play, and real life. Whos to say which is which anymore. I dont think profitability and production of gaming are mutually exclusive. Why cant game creators also make money for their work?

Who balances the game in a decentralized world?

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

#227

Post by blueski »

vmception wrote: post #211
blueski wrote: post #205

Earlier quoted context omitted.

> "physical clubs and events that require users to prove provenance for access" Feels like the "access to physical events" problem was solved before NFTs. > The "right click and save as" "screenshot" and "twitter photo" people would not have access. But per original question - if I wanted to use any Bored Ape as my Twitter photo, is there anything stopping me? Take your point re: additional digital goods being delive…

> Feels like the "access to physical events" problem was solved before NFTs. I don't really consider it solved, has Ticketmaster solved festival passes in a way everyone likes? When organizers aren't using ticketmaster, is transferring the ticket solved or is it rife with scams and abuse and arbitrary restrictions and guesswork. The tertiary benefit is also not something NFT's are aiming to solve. You asked and got a…

> I don't really consider it solved, has Ticketmaster solved festival passes in a way everyone likes?

I hate Ticketmaster as much as the next guy, but had a fine experience with the resellers (e.g. StubHub) which offer many things NFTs do not - like customer service (with an actual phone number), a centralized record if I lose my ticket, refunds if the seller mis-represents, no requirement to buy an asset that will likely fluctuate wildly in price, and transaction fees likely lower than gas fees. Not sold on giving up those benefits.

> If you want to pretend to own something valuable or be part of a community you can still do that. I don't really understand what that means to you. I guess that's a good follow up question, what does that mean to you?

I haven't been part of one of these communities, so hard to comment on the value of being a true member or just appearing to be one. If Bored Apes lost 99% of their value, would the community remain equally rich and engaged? What do they truly have in common?

> If NYTimes stopped making infinite memberships, paid monthly, and instead limited it to, say, 100,000 memberships and some of their operation was funded by a portion of royalties when one of the membership was traded, what would the memberships cost?

I'm skeptical limiting access to quality journalism and inflating the price can really be counted as a good use case. For a Soho House membership, I'd much prefer to pay a monthly rate based on what I'm receiving - rather than speculate that (a) they'll continue improving the offer, such that the value of my token will increase; (b) the broader NFT market won't crash.

Soho House's financial team would also likely want to project their earnings next year without making assumptions around sustained interest in NFTs.

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

#228

Post by smt88 »

gokhan wrote: post #127
suikadayo wrote: post #81

Earlier quoted context omitted.

It’s not that difficult. Artists, original creators will write down their .eth or wallet address on their profile. Or just compare the timestamps of the creation of the smart contracts and the tokens.

Who guarantees that the profile is the real one?

Usually Twitter, sometimes not very accurately.

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

#229

Post by basch »

jshen wrote: post #226
basch wrote: post #152

Earlier quoted context omitted.

>what is the value in creating scarcity beyond just trying to make money? Gameplay balancing. We've crossed a very blurred line of gaming, role play, and real life. Whos to say which is which anymore. I dont think profitability and production of gaming are mutually exclusive. Why cant game creators also make money for their work?

Who balances the game in a decentralized world?

The game creators and the market.

In the same way that the market will refuse to believe I printed an authentic pokemon card, the game players decide which printers/minters are valid game token producers. If the community decides to respect a certain game production team, that becomes reality. A game company being in charge only lasts as long as the players believing in them. It's the polar express basically.

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

#230

Post by exdsq »

llimos wrote: post #221
exdsq wrote: post #195

Earlier quoted context omitted.

NFTs in regards to digital licences and tickets to events are game-changers in my eyes. I wish the focus was on that instead of on jpegs. If anyone is working on these, or wants to work on these, I'd be keen to collaborate.

Both of those have a central authority that is granting the relevant rights. What's the advantage of an NFT over letting that central authority manage it in a centralized database? And if they won't agree to facilitate transfers, why would they agree to release the license/ticket as an NFT to begin with?

Bands != Ticket Master. Right now the easiest way to release tickets is through a central authority that takes fees to manage them, and then control the resale market. You can take the tickets elsewhere like Stubhub but that introduces 25% in fees to have insurance that if your tickets aren't valid and don't get you into the venue, you can have a refund. It's still impossible to check the tickets you purchase on these sites are authentic too - ticket fraud is a wide-spread multi-million dollar issue in the resale market (as you will see in the news from time to time).

If you move this to NFTs you have a few advantages. The workflow would look like this: Band creates NFTs (maybe via a website?) and they now exist in the bands wallet. Band puts them up for sale with a smart contract. Fans buy the tickets. Fans can attend the gig by showing the ticket is in their wallet to enter. Fans can resell the tickets if they're allowed to via another smart contract with the a small royalty going back to the band. Don't want the ticket to be resellable? Add a boolean flag to the NFT in its metadata. Want to check the ticket is authentic? Check it's tx history back to the bands minting (or check the NFT address exists in the list of valid tickets on the bands sale site or something). There are some UX issues here but they should all be solvable. Use a chain like Avalanche and the tx fees are $0.02 at the moment.

Essentially the whole man-in-the-middle central company that manages the creation, sales, resales, etc, becomes an open-source peer-to-peer infrastructure. This same thing could be true for game licenses or really any truly digital item. These assets become programmable and new business models are becoming viable while old business models are in theory obsolete - obviously this has some huge caveats: the UX on web3 sucks, we need to migrate from proof-of-work so it's not environmentally awful, and we need to disassociate ourselves with the scammy $1m NFTs. Also some edge cases need to be solved like how customer service will work if something goes wrong.

I mean the most fundamental thing about the blockchain and NFTs still blows my mind from time to time - these transactions are atomic and stop double-spend attacks. I can set up a transaction with you where you pay USDC and I send an NFT for a bands ticket, and we know for certain that at the end of the tx you're going to have that ticket and I'm going to have that money. No "you send it first, I don't trust you" or escrow service needed. The fact we can stick a Turing-complete program in the middle of that and add things like verification the ticket is from the set of authentic tickets, or that it's only valid if the USD is worth 1.25-1.30 Euros to avoid slippage, is just awesome (to me).

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