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At the Bored Ape restaurant, your ApeCoin is no good now

latimes.com

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Re: At the Bored Ape restaurant, your ApeCoin is no good now

#21

Post by [deleted] »

mojomark wrote: post #5
rvz wrote: post #2

> “Yes, ethereum is a currency in a way where you can exchange [non-fungible tokens, or] NFTs and stuff … but as far as buying food and all that, maybe not,” one crypto-enthusiast diner, Marc Coloma, said as he munched on fries outside the restaurant. “People want to hold onto their ethereum. They’re not gonna want to use it.” Then what is the point then? Apecoin and Ethereum certainly cannot be used for payments and…

> That is a complete failure and it just took one crypto crash. Disclosure: I hold virtually no crypto (a few thousand XRP) As I watch this show from the sidelines, I wonder if the latest crash (and no doubt future crashes) isn't exactly the force needed to distribute crypto more widely into more hands, normalizing to some roughly steady state value. After several swings of the pendulum, you end up at some more or le…

[deleted]

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#23

Post by gkoberger »

I dislike crypto, especially NFTs. But here's my best attempt at understanding.

BAYC transfers ownership of IP for the ape you've bought. It's not just a picture of the ape on OpenSean; you can use it. There's something really fascinating about this. It's one character, but it's also broadly part of the larger ecosystem.

We're so used to, say, Disney owning IP. But what if you could spend $300k and have a restaurant themed like Mickey Mouse? And you're not a cheap knockoff... you're expanding on the lore and the You could have a community of built in people or, like the guy in the article, maybe they just thought the vibe was cute and didn't know what BAYC was even.

I think it's really interesting that people are building and creating and expanding this universe. Imagine something like Pokémon, where everyone was able to create and consume games/content/etc.

Here in HN, the sentiment tends to be against Disney-style copyrights. The crypto community is playing with what community and intellectual property actually could mean.

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#24

Post by pueblito »

raylad wrote: post #16
choward wrote: post #15

> Perhaps that was what Nguyen was thinking when he spent more than $330,000 on the various ape NFTs on display at his restaurant. Wow. I can't imagine what anyone is thinking when they pay that much to brag about some random blockchain that says they own an arbitrary URL that may or may not link to an image.

That actually doesn't apply to Bored Apes. With those NFTs you get copyright ownership of the image.

No, with copyright law you get ownership, the nft is just a public receipt

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#25

Post by remram »

raylad wrote: post #16
choward wrote: post #15

> Perhaps that was what Nguyen was thinking when he spent more than $330,000 on the various ape NFTs on display at his restaurant. Wow. I can't imagine what anyone is thinking when they pay that much to brag about some random blockchain that says they own an arbitrary URL that may or may not link to an image.

That actually doesn't apply to Bored Apes. With those NFTs you get copyright ownership of the image.

You get copyright on a software-generated image? What's the point?

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#26

Post by neilalexander »

raylad wrote: post #16
choward wrote: post #15

> Perhaps that was what Nguyen was thinking when he spent more than $330,000 on the various ape NFTs on display at his restaurant. Wow. I can't imagine what anyone is thinking when they pay that much to brag about some random blockchain that says they own an arbitrary URL that may or may not link to an image.

That actually doesn't apply to Bored Apes. With those NFTs you get copyright ownership of the image.

In many NFTs, the content itself is not covered by a hash (although the URL pointing to it is) so it would be incredibly difficult to prove that “ownership” in any case?

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#27

Post by roywiggins »

yieldcrv wrote: post #19

These merchant adoption and abandonment stories are always implementation issues with no inspiration or education. A) Point of Sale systems have handled this "volatility" issue for an entire decade. Use an implementation that shields the merchant from volatility. They usually liquidate for you. B) Why would you list the prices in ApeCoin or Ethereum? Just show dollars and accept whatever, because A) handles whatever…

If a crypto-themed restaurant doesn't think it's worth it, I can't see how anyone else would either. Like, this is their whole brand!

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#28

Post by el-salvador »

iostream24 wrote: post #10
djbusby wrote: post #6

Earlier quoted context omitted.

BTC is official in El Salvador.

And Bukele has locked up more than 2% of the population in inhumane conditions… Hardly a promotional asset…

2% of the total population. It must be higher when other variables are added to the calculation.

- The % of male population imprisoned. My guesstimate is 4%.

- The % of male population between 18 and 29 y/o imprisoned

I don’t have the raw data to calculate it at this moment. But it must be higher once gender / age / income are considered.

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#29

Post by rejor121 »

raylad wrote: post #16
choward wrote: post #15

> Perhaps that was what Nguyen was thinking when he spent more than $330,000 on the various ape NFTs on display at his restaurant. Wow. I can't imagine what anyone is thinking when they pay that much to brag about some random blockchain that says they own an arbitrary URL that may or may not link to an image.

That actually doesn't apply to Bored Apes. With those NFTs you get copyright ownership of the image.

Would that hold in a court of law?

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#30

Post by remram »

gkoberger wrote: post #23

I dislike crypto, especially NFTs. But here's my best attempt at understanding. BAYC transfers ownership of IP for the ape you've bought. It's not just a picture of the ape on OpenSean; you can use it. There's something really fascinating about this. It's one character, but it's also broadly part of the larger ecosystem. We're so used to, say, Disney owning IP. But what if you could spend $300k and have a restaurant…

You can mostly use any and every one of them for a lot of purposes under fair use. I have seen a lot of Apes around the net, way more than I would have liked.

You can't make, say, a cartoon featuring one of them, but would you want to do that?

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