Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

nftreplicas.net

Post reply on HN
Print view View original

231–240 of 297 posts

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

#231

Post by vanusa »

Kiro wrote: post #224
vanusa wrote: post #184

Earlier quoted context omitted.

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.

Why the attitude?

I didn't mean to come across with attitude.

Only that your question about intrinsic value seemed rather .. weird.

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.

Can you provide some examples, please?

I can think of plenty of market assets which have what we might say is slightly abstract kind of value -- "brands", naming rights to stadiums, etc -- but still, it's pretty straightforward to see the intrinsic utility they provide, and that this easily translates to dollars.

With NFTs though -- there just isn't it any. Other than to sell to the next sucker in line.

EDIT: Wait, I can think of one asset class that compares to NFTs: signed sports memorabilia. Which of course have crap resale value (except for items signed by ancient players like Joe Dimaggio). But the modern versions team franchises regularly crank out -- not so much.

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

#232

Post by simias »

58x14 wrote: post #138
simias wrote: post #52

Earlier quoted context omitted.

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…

Really have to challenge this comment. "We're early" in the internet had the dotcom bubble, the development of mobile 3G infrastructure and devices, the advent of smartphones, the VC-fueled app craze, and then eventually, now. The innovation mostly occurred in certain geographical areas, under the control of a relatively small population, with global impact. The progression of blockchain technology - and dare I say c…

>I'm guessing critical mass sometime in the next 18-36 months.

And I say in 2025 I'll be having the same discussion I had in 2017 and I'm having right now as somebody will reply to a comment I make on HN telling me that whatever cryptofad of the day is 18-36months away from mainstream adoption.

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

#233

Post by npteljes »

joshmarlow wrote: post #58
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 bill…

Supporting artists is fine, but it also facilitates a lot of art theft. Random article:

https://www.businessofbusiness.com/articles/nfts-turning-art...

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

#234

Post by danuker »

zepto wrote: post #222
danuker wrote: post #218

Earlier quoted context omitted.

And therefore... nothing has intrinsic value?

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

I am not an NFT advocate.[1] But I do own Bitcoin, and I subscribe to the subjective theory of value.[2]

> It ends up being circular though - yes, human judgement is ultimately part of the equation

Well, I am glad you admit humans are who ultimately set prices on markets.

> but that judgment end up being based on a prediction of future value, and often we can use understanding of markets or the intrinsic value of commodities to industrial processes to assess this.

I interpret this as a more informed subjective value, but this discussion did not quite convince me there exists an intrinsic value.

The fact that you need X kg of flour to create Y kg of bread might be useful in knowing when the market prices for flour and bread are "consistent" - you call this "intrinsic value of commodities to industrial processes" - but I am of the opinion that demand prevails: the relative demand for bread and flour is what sets their relative price, and it can vary for reasons completely different from the industrial processes considered for an "intrinsic value".

Nevertheless, I thank you for going in circles with me, I feel like I have learned something, and I hope I expressed my own ideas clearly enough.

I will not follow this discussion for long; but if you feel like continuing, my e-mail is on my website which is on my profile. [3]

[1] - https://news.ycombinator.com/item?id=29663787

[2] - https://en.wikipedia.org/wiki/Subjective_theory_of_value

[3] - https://news.ycombinator.com/user?id=danuker

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

#235

Post by zepto »

danuker wrote: post #234
zepto wrote: post #222

Earlier quoted context omitted.

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

I am not an NFT advocate.[1] But I do own Bitcoin, and I subscribe to the subjective theory of value.[2] > It ends up being circular though - yes, human judgement is ultimately part of the equation Well, I am glad you admit humans are who ultimately set prices on markets. > but that judgment end up being based on a prediction of future value, and often we can use understanding of markets or the intrinsic value of com…

> and it can vary for reasons completely different from the industrial processes considered for an "intrinsic value".

Nobody disputes that bubbles and sentiment exist.

What is in dispute is the idea that they are the only things that determines value.

It’s ok that you are not convinced. Once you go down the postmodern rabbithole of believing that everthing is subjective, there is no way out through dialog.

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

#236

Post by miracle2k »

pkdpic wrote: post #146
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…

> 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 h…

Fomo is real, but I'd encourage you to take another look. The space would benefit from more people with a background in the arts for sure.

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

#237

Post by miracle2k »

AnIdiotOnTheNet wrote: post #173
kranke155 wrote: post #106

Earlier quoted context omitted.

True but what if in buying those stars you were supporting space research? That’s all NFTs are right now - a novel way to invest in artists. And that’s remarkable, and good enough for me.

I can do that without "buying" a star. It is actually possible to just give money to people, NFTs didn't invent it.

Convince more people to just hand out money to artists then!

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

#238

Post by Hjfrf »

joshmarlow wrote: post #58
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 bill…

In the current iteration, they don't solve that problem.

You still need a centralised entity to enforce ownership, making the blockchain redundant.

A future attempt might be better, maybe.

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

#239

Post by seibelj »

max48 wrote: post #223
seibelj wrote: post #201

Earlier quoted context omitted.

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, rega…

> 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.

I can easily print out a high-quality Mona Lisa and put it on my wall, and I can enjoy it, but I wouldn't pretend I own it.

> 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.

It is mathematically impossible to copy the NFT. It isn't the same smart contract, it isn't the same NFT. It is theoretically possible to arrange atoms in the precise location of a physical object, however.

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

#240

Post by altdataseller »

AnIdiotOnTheNet wrote: post #38
altdataseller wrote: post #29

Earlier quoted context omitted.

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?

If we're steelmanning the argument, then I think you'd have to ask what makes an NFT of a digital artwork by a famous digital artist worth so much.

They are less than 1% of all the NfTS with inflated prices. No need to argue about the outliers
Post reply on HN