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€2.6M spent for a book at auction, believed they would own the IP

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Re: €2.6M spent for a book at auction, believed they would own the IP

#311

Post by slickdork »

mpeg wrote: post #241
ethanbond wrote: post #219

Earlier quoted context omitted.

Then in what sense is owning a token owning anything?

Kinda missing the point of NFTs there, it's a collector's item and I can't spend $2.6m to buy the actual physical book, but I could spend $2.6k to buy an NFT with 1000 editions which was minted by the owner of the physical book. I don't care about Jorodowsky's Dune, but if I was a fan I could then show off my NFT on twitter, or > or just print it out and frame it. FAQS - Can't someone else just download the image and…

So NFT's are just a way to introduce artificial scarcity for what is otherwise a reproducible digital good? A way for people to flex money on things that don't exist? They're like DLC skins in a video game - worth nothing, other than showing off that you spent $x dollars?

Re: €2.6M spent for a book at auction, believed they would own the IP

#312

Post by lbrito »

jl6 wrote: post #158

For most of human history, people have lived in small, local information bubbles which were hard to penetrate with facts from the outside world. We see this manifest as the pre-industrial global patchwork of weird and wonderful religious/spiritual/cultural variety. Then somehow the world started to join up and information began to seep into local cultures and sweep away a lot of these pre-rational beliefs. And for a…

>But in the last ten years, something seems to have arrested this direction of travel and reinstated local bubbles of thought, insulated from outside challenge.

I've noticed this specifically with covid denial/conspiracy nuts.

Sure, there have always been conspiracy nuts (and some conspiracy theories are later proven not theories at all), but covid-related conspiracies are a different beast altogether in terms of how widespread they got.

There seems to be a personality type that is prone to believing in conspiracy theories of any kind, and the bar or threshold for that kind of personality seems to have lowered all of a sudden -- otherwise normal people that were not particularly conspiracy theory-leaning are way into the craziest covid stuff.

The level of angst involved is also on a whole other level: while in other conspiracy theories the "Enemy" is usually a small evil cabal and the general "blue pill" public is just "misinformed sheep", now suddenly everyone _not a conspiracy nut_ is immediately evil.

Re: €2.6M spent for a book at auction, believed they would own the IP

#313

Post by pge »

acjohnson55 wrote: post #297
sokoloff wrote: post #136

Earlier quoted context omitted.

Perhaps we should look forward to innovations like “Special Purpose Acquisition Coins” then? SPACs have gotten rid of much of the diligence traditionally part of the IPO process.

The filings are pretty much the same. The biggest difference, as far as I know, is there's no roadshow to get institutional investors onboard. But this isn't technically a requirement of an IPO. And a direct listing also skips that.

I think what the previous poster was referring to is that the filings for the SPAC (acquisition company) are the same as any other IPO, but there's nothing in the SPAC (just money and a management team). For the company that gets acquired by the SPAC, however, it's a different story. That company does not have to go through the IPO process itself, so it goes public with a lot less regulatory scrutiny than it would have had had it pursued an IPO itself.

Re: €2.6M spent for a book at auction, believed they would own the IP

#314

Post by tetrisgm »

I actually interacted with the person running the DAO. I believe him to be a scam artist.

For context: I also set up a group to bid on the book. Our intent was to spend $100,000. He reached out to offer to join forces.

I mentioned that the goals of the DAO, the use of proceeds, and the general vision were pretty blurry and might not work.

He said he had been in touch with Jodorowsky and Moebius and they're excited to work on an exhibition or such kind of event with him.

When I pointed out that Moebius died in 2012, he paused for a few minutes then said oh I meant his estate.

I don't believe there's been any proof of such communication or plans with the estate yet.

Re: €2.6M spent for a book at auction, believed they would own the IP

#315

Post by sneak »

ethanbond wrote: post #219
sneak wrote: post #161

Earlier quoted context omitted.

NFT data is public, generally.

Then in what sense is owning a token owning anything?

Forget the idea that owning the token represents something. Buying an NFT just means you bought the NFT itself; it does not mean you bought the image, have access to the image, bought any rights to the image. It just means you bought the NFT.

Re: €2.6M spent for a book at auction, believed they would own the IP

#316

Post by kstrauser »

carl_dr wrote: post #27
o_m wrote: post #7

Earlier quoted context omitted.

Sounds like a great way to launder money

Spending €2.6M on something worth €26,000? Sounds like a crappy return to me.

Not if it’s a pump and dump. The DAO collected a couple million dollars of other people’s money and used it to win an expensive auction, thus “proving” that the idea is worth lots of money. Now their second DAO can collect even more because it’s been legitimized.

Re: €2.6M spent for a book at auction, believed they would own the IP

#317

Post by RC_ITR »

Hokusai wrote: post #216
mschuster91 wrote: post #211

Earlier quoted context omitted.

> Whether it's about wealth, ideologies or any other aspect of lifestyle: Suddenly it's right there, dangled in front of them. And for what it's worth, what is considered "luxury" has become more and more accessible/affordable or is not a status symbol any more: 7-series BMW models can be leased for ~800€ a month, luxury watches have fallen out of fashion, expensive clothing items can be rented or you just go for the…

> what is considered "luxury" has become more and more accessible/affordable or is not a status symbol any more This seems to be the reality for many HN users. But not being able to buy a home or even pay rent seems quite common in the general population.

The real weirdness is that bad local policy has led to uneven inflation, so our cultural 'anchors' of luxury are all thrown off.

A luxury car? We've gotten 10x+ better at making those since the 1950's, so ofc it's cheaper.

A trip to the Maldives? Same.

A reasonable house to live in? Well, we've sort of gotten better at making those, but not as drastically, AND we've decided to make laws that make it harder to build more of them anyway.

Lot's of fun hierarchy of needs debates to be had from that.

Re: €2.6M spent for a book at auction, believed they would own the IP

#318

Post by RC_ITR »

jvanderbot wrote: post #263
Pasorrijer wrote: post #225

Earlier quoted context omitted.

I was referring specifically to the example above, or at least the jargon I've seen used. And EVERY community is going to have specific language or "Slang". I mean, even the specific resume example above simply translates to "Worked as a Product Manager on moderately successful project, worked as a Project Manager on random project, consulted with highly successful marketing firm and extremely successfully and profit…

Slang:= (in tech) shortcuts for meaningful technical information Watchwords:= seemingly slang, but conveys only group membership

Crypto Watchwords:= seemingly slang, but conveys only group membership. Group membership revoked if you try to define any of those watchwords at a first principles level (which is precisely why a group of young people raised on NFT's doesn't understand the possession/copyright ownership split)

Re: €2.6M spent for a book at auction, believed they would own the IP

#319

Post by jmercouris »

tzs wrote: post #251
donkeyd wrote: post #198

Earlier quoted context omitted.

> Now everyone has it, there can be far more bubbles. Yeah, I feel like this is the issue. I've heard the theory that in the past, every village had a village idiot. The internet has enabled all these village idiots to find each other and to broadcast their idiocies. They feel strengthened in finding like-minded people and feel vindicated in their beliefs. Due to the size of the group and how vocal they are, they're…

I've heard the effect of internet compared to the effect of the printing press. For the people on the other side of the curve from the village idiot that was true. Before the internet we (on HN I think most of us are on that side of the curve justifying the use of "we" here) had libraries and we had elaborate systems for indexing and searching [1] and providing notification of new information in our areas of interest…

Could you please expand upon how it was like the 'discovery of fire'? There are many ways to interpret this, and I'm not certain I know what you are saying.

Re: €2.6M spent for a book at auction, believed they would own the IP

#320

Post by monkey_monkey »

bidder33 wrote: post #281
Waterluvian wrote: post #115

So many conversations here and on Twitter focus on laughing at these people. But I think the most likely explanation is that they’re not this stupid. That it’s some form of fraud.

Or maybe it is simply a group of people who love jodos vision for dune. the idea of a film as a guiding prophet, visions of a flowing creative universe. and we want to play with that. so we raised a bunch of funds and bought a cool book. now we are making an animation. we've been discussing ideas like sending funds to the makers of Jodorowskys Dune documentary which didnt even break even, as a way of thanking them to…

> so we raised a bunch of funds and bought a cool book.

For about 100x its estimated value. I'm not sure that's really playing with a hacker mentality.

The plan is also to burn the "cool book". Again, I'm unsure how that fits into a hacker mindset.

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