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Digital collectibles on Instagram is winding down

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Re: Digital collectibles on Instagram is winding down

#81

Post by bombcar »

cableshaft wrote: post #77
bombcar wrote: post #75

Earlier quoted context omitted.

Many people buy games, books, even music and movies with the “I’m interested and will get to it someday”. It’s more rare for someone to explicitly buy something with the firm intention never to play it (and usually that is a second copy they want to keep pristine). Most of my unplayed steam games are that - oh, $5? I’ve heard of that and want to play it someday, I’ll grab it now.

I mean, that’s my justification too, but let’s be honest, I won’t ever have the time or energy to properly play half of the things I buy, and I’d save a lot of money if I took that into account before I bought them.

Yeah - I spent only $5 on morrowind on steam and just started playing finally (on Xbox where I paid $15 for it).

Re: Digital collectibles on Instagram is winding down

#82

Post by coffeebeqn »

flappyeagle wrote: post #80

Meanwhile wizards of the coast is out there printing money still. Such a missed opportunity for a smaller TCG to come in and get a real foothold.

Making a successful TCG seems to happen about once a decade. NFTs are an implementation detail in the end. One that also makes a lot of false promises that the game developers won’t want to keep. They’ll still nerf/ban overpowered cards whether they’re NFTs or not and they won’t be transferable to anything else because game devs don’t want to relinquish control of their game economies for very good reason

Re: Digital collectibles on Instagram is winding down

#83

Post by jterrys »

23B1 wrote: post #38
DisposableDave wrote: post #3

Sorry for the off-topic. This whole NFT debacle would be fun for me if it didn't cost me a dear friend; he's been working full-time on his "collection" for almost two years now, convinced he's "just around the corner of making millions" out of it when it's obvious the ship has long sailed. I guess there's more to it than just NFT craze, and he's probably struggling with other things, but his new "know-it-all NFT bro"…

Your friend is an addict and should seek gambling addiction groups.

Yup, that's what happened to a former friend of mine. 2020 Rolls around, stock market goes crazy, everyone starts talking about something called "options". Few weeks later everyone lost a little bit of money and tapped out, not much, just a few hundred here and there. Except one friend, who blew all their savings for a high they never got again. Went hook line and sinker for GME, shitty IPO scams, NFTs, you name it. They got burned over and over. Eventually broke off contact with the friend group because of money.

Re: Digital collectibles on Instagram is winding down

#84

Post by [deleted] »

klodolph wrote: post #68
LeeroyWasHere wrote: post #35

[flagged]

NFTs have done some real damage measured in human terms. It’s natural for some people to get angry about things like that. Asking “are you all okay” sounds a lot like concern trolling, so I would not phrase your question that way. I am not going to accuse you of being disingenuous, but it is very easy to read your comment as disingenuous. People in the thread here have lost friends to NFTs the same way you might “los…

[deleted]

Re: Digital collectibles on Instagram is winding down

#85

Post by lying4fun »

dgellow wrote: post #10

So, you could collect NFTs of instagram posts? What a weird concept. Reddit avatars make more sense IMHO, they work as a form of status symbol. They are displayed on all your posts and comments, so you can show off your fancy avatar everywhere. I cannot see why anyone would care about a collection of posts.

Many artists use instagram to display their art, and a big portion of that art is digital and it was intended to be perceived on the screen, so it can’t be collected/purchased in the traditional sense. That’s why a lot of artists I follow and deeply respect were supporting this concept - finally their 3d renders, digital images etc. can enter the art market. See @mikeyjoyce

It is like a democratization of collecting art, instagram being the medium. The motivation for collecting digital art being the same as collecting physical artworks (paintings, sculptures, whatever).

On the other hand, it gives you an opportunity to support the artist you like and get something in return, in a similar fashion bandcamp does with music.

Re: Digital collectibles on Instagram is winding down

#86

Post by cfuendev »

manojlds wrote: post #33
tetrisgm wrote: post #4

What's interesting here is that it's not really affecting the perception of people who believe in web3. As someone who's working on a decentralized product, I speak with nft creators and collectors every day. They see this as a confirmation that Meta wasn't really in. There was also a perception that Polygon NFTs aren't as valuable. Interestingly, Reddit has managed to sell Polygon based profile pictures fine, and th…

I find it funny that we still call this web3. Web3 might still be something that comes up, might even be the GPT wave.

Apparently the name stuck because some libraries and websites already adopted the term even if there was no Web3 at all. Lol Jack Dorsey's already working on a Web5 that nobody is interested either.

I think that the real Web3 will be mature and developed enough that there will be no need to create a bunch of apps boasting they're on the Web3 nor libraries abstracting Web3 APIs called "web3.js" before the term is even tangible

Re: Digital collectibles on Instagram is winding down

#87

Post by simonw »

cableshaft wrote: post #51
inconceivable wrote: post #22

Earlier quoted context omitted.

just wait until they start really attacking AI. they'll roll out the same playbook. 1. dangerous new technology 2. that uses far too much energy (more than the entire country of X!) 3. do we really know how it works? 4. controlled by a shadowy cabal of super-coders 5. followed by a litany of anecdotal stories about victims of AI 6. and increasingly frequent and increasingly negative coverage of those getting rich off…

You're getting downvoted but you shouldn't be. There's already discussion about ChatGPT's energy usage, and once this starts scaling more, there's going to be more and more people concerned. Hell, I'm already a bit concerned with its energy usage, and I'm already struggling being a fan of crypto while also being concerned for the environment (didn't use to have to be, crypto didn't use a ton of energy 8+ years ago).…

There's one crucial difference between AI and Bitcoin when it comes to energy usage.

With AI there are strong incentives to make everything more efficient and use less energy. This is already happening: people are finding ways to run AI models on less powerful hardware (see LLaMA etc), and AI providers like OpenAI have managed to run things. Lee efficiently - that's presumably how they could drop the price of an API call by 1/10th for GPT3.5 compared to GPT3.

With Bitcoin efficiencies don't actually help, because the entire system is designed as a competition. The person who burns more energy wins more value. If the tech becomes more efficient the miners just increase their activity, so energy usage doesn't meaningfully decrease.

Re: Digital collectibles on Instagram is winding down

#88

Post by nemosaltat »

baremetal wrote: post #26
pavlov wrote: post #11

Earlier quoted context omitted.

> “What's interesting here is that it's not really affecting the perception of people who believe in web3.” I think that’s the definition of belief: it’s not derived from facts so it can’t be shaken by evidence.

not all beliefs are non-factual.[1] [1] https://plato.stanford.edu/entries/belief/

And not all “true beliefs” are based on fact. [1]

>At first sight we might imagine that knowledge could be defined as 'true belief'. When what we believe is true, it might be supposed that we had achieved a knowledge of what we believe. But this would not accord with the way in which the word is commonly used. To take a very trivial instance: If a man believes that the late Prime Minister's last name began with a B, he believes what is true, since the late Prime Minister was Sir Henry Campbell Bannerman. But if he believes that Mr. Balfour was the late Prime Minister, he will still believe that the late Prime Minister's last name began with a B, yet this belief, though true, would not be thought to constitute knowledge.

[1] THE PROBLEMS OF PHILOSOPHY https://www.gutenberg.org/files/5827/5827-h/5827-h.htm#link2...

Re: Digital collectibles on Instagram is winding down

#90

Post by rgbrgb »

exitb wrote: post #63
lowkey_ wrote: post #52

Earlier quoted context omitted.

Out of curiosity (not into crypto so very little knowledge), what do you have to take with you to be able to view the NFT?

The NFT does not contain the asset itself, it’s just a meta-document that points to the asset. So if that pointer is a URL, the answer would probably be “a good chunk of the internet”.

I’d reckon the simpler answer is more likely a jpeg or mp4.
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