No post body was provided.
€2.6M spent for a book at auction, believed they would own the IP
71–80 of 398 posts
Re: €2.6M spent for a book at auction, believed they would own the IP
#72My favorite part of this story is that they DAO has actually raised ~$8m, spent $3m on the book (10x the expected auction price), then the "core team" has started paying themselves ~$30k a month[0]. Also, how is this "decentralised" when one person owns over 50% of the voting token? [0] https://snapshot.org/#/dunedao.eth/proposal/0x2038fc240d0e85...
Will be interesting to see how this, as in the whole DAO space, works out. Part of the problem with the ICO craze in 2017* is that the founders got all the money up front without having any obligation to do anything, so the tiny minority of well intentioned ones ended up simply enjoying the money rather than doing something hard like actual work. Seems like this is still a risk here - the founder can string people along for a few months or years until they lose interest, all the while drawing down the money and living rather comfortably.
* The other problem with the ICO craze is of course that the combination of money up-front and no obligations and anonymity meant almost all were simply out-and-out scams.
Re: €2.6M spent for a book at auction, believed they would own the IP
#73I made the mistake of diving a bit deeper into the group who bought it and found a proposal where they are talking about literally burning the book they just bought after digitizing it for … reasons I guess [0] At this point I just hope its some sort of practical joke or whatever because this just seems a bit much. [0] https://forum.spicedao.xyz/t/nft-of-the-book-w-proof-of-jpeg...
What happens if you upload copyright protected data in cleartext on a blockchain without having the distribution rights?
Bruce Schneier wrote about this on his blog about illegal content on Bitcoin's ledger:
https://www.schneier.com/blog/archives/2021/03/illegal-conte...
The answer seems to be that 'nothing much happens, yet'.
Re: €2.6M spent for a book at auction, believed they would own the IP
#74This must be some kind of commentary on the uselessness of NFTs, surely. They can't really be that stupid?
Re: €2.6M spent for a book at auction, believed they would own the IP
#75My favorite part of this story is that they DAO has actually raised ~$8m, spent $3m on the book (10x the expected auction price), then the "core team" has started paying themselves ~$30k a month[0]. Also, how is this "decentralised" when one person owns over 50% of the voting token? [0] https://snapshot.org/#/dunedao.eth/proposal/0x2038fc240d0e85...
It's unbelievably funny and scary at the same time. This is the profile of their "Marketing Lead": https://twitter.com/YOJIMBO_KING/media Qualifications listed for their team include "Bitcoin Class of 2013", not sure if a joke or not? The impression is that this is a bunch of 13 year olds who suddenly got a windfall...
"They worked as Product Manager on StarChant and Project Manager of PegzDAO; consulted with POAP on their communications strategy and Raid Guild DAO on business development. DeFi trader, yield farmer and liquidity provider on DEXs. Bitcoin Class of 2013."
You weren't kidding, this sounds like an application for a World of Warcraft Guild I applied to in 2008 or something. I have no idea what any of this means
Re: €2.6M spent for a book at auction, believed they would own the IP
#76This must be some kind of commentary on the uselessness of NFTs, surely. They can't really be that stupid?
Any sufficiently advanced stupidity is indistinguishable from performance art.
Re: €2.6M spent for a book at auction, believed they would own the IP
#77They bought a rare Dune storybook, created by an all-star team of artists (Jodorowsky, Moebius, HR Giger, ...). I think that storybook was used to pitch the concept art to Movie Producers and Studios. To make this easier to understand, substitute "Dune book" with "Gutenberg Bible" or, even better, "historic, ultrarare, pre-medieval parchment of a Bible translation". The new owners of that Bible probably do not think…
> This content could indeed be monetized
Yes, by the IP owner. Not by the owner of the book.
Re: €2.6M spent for a book at auction, believed they would own the IP
#78Earlier quoted context omitted.
Yes, we need answers to these ! I'll add one: why does the thread mention "cryptobros" about buyers when the auction was nothing related to crypto in any way? Is it just becoming a generic insult to dumb people or am I missing something?
> why does the thread mention "cryptobros" about buyers when the auction was nothing related to crypto in any way? Because the group who won it crowdfunded the money via cryptocurrency, wants to turn the book into NFTs and is organized in a DAO, if I looked into this a bit more I am sure I would find something about web3 and metaverse and whatever else fits in the bullshit bingo of current discourse around the whole…
Thanks for the info I missed (and/or was too lazy to search).
Yep, cryptobros it is.
Re: €2.6M spent for a book at auction, believed they would own the IP
#79It feels a bit weird to me to heavily mock and ridicule someone who thought they were doing something for public good.
I do not buy the premise that they thought that they were doing something for public good. I'm glad to mock them, and all the other cryptocurrency/NFT morons.
Re: €2.6M spent for a book at auction, believed they would own the IP
#80I made the mistake of diving a bit deeper into the group who bought it and found a proposal where they are talking about literally burning the book they just bought after digitizing it for … reasons I guess [0] At this point I just hope its some sort of practical joke or whatever because this just seems a bit much. [0] https://forum.spicedao.xyz/t/nft-of-the-book-w-proof-of-jpeg...
That's pretty insane. Oddly enough - the process in a library for digitising a copy of a book can be fairly destructive, as far as I understood from those doing it (at CUDL). The spine is chopped off, to make it easier to put it into a machine for scanning all the pages. The digital images can (should?) then be stored in a format that allows zooming, for example : https://cudl.lib.cam.ac.uk/view/MS-ADD-03967/1
Archive.org has a non destructive book scanning technique!
http://blog.archive.org/2021/02/09/meet-eliza-zhang-book-sca...