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What is an NFT from an artist’s perspective?

alex-pardee.medium.com

11–20 of 89 posts

Re: What is an NFT from an artist’s perspective?

#11
Proof of authenticity, whether being digital or not, doesn't mean anything until

1) the culture of the general people around you support it, or

2) there is an entity with political power (such as the state) that forcefully protects that authenticity through law/police/the military/etc (for example, intellectual property supported by law enforcement).

But firstly I think NFTs are totally antitheical to the current culture of the Internet era, where it is given without question that data can be freely copied and shared (regardless of the countless efforts by DRM technologies), and virality and mass transmission is regarded as an important communal cultural value. Who cares if someone "owns" the Nyan Cat meme, when you can freely Google it and view it on your smartphone, and can also save it to your hard drive if you want to preserve it? And I really don't think state power is really supportive of general crypto right now, so number two is off from the start. The problem I have with NFTs (and cryptocurrenties in general) isn't about the technology, it's more about the culture surrounding it.

(Also, think the blockchain is permanent, because it's supported by "math"? If the infrastructure surrounding Ethereum vanishes, your piece of NFT is essentially gone. And Ethereum's consuming a hell of a lot of energy and infrastructure to maintain, and you might start to think backing it up in a few hard drives is the easier and saner option...)

Re: What is an NFT from an artist’s perspective?

#12

Q: What's to stop me taking sometime else's art I find online, claiming it's mine, turning it into a NFT and making money from it? A: Absolutely nothing ... I think?

In my project, we use robust near-duplicate image detection based on image fingerprints that are generated from deep learning models. So if an image has already been registered on our system, no one else can register it.

Re: What is an NFT from an artist’s perspective?

#14
FYI: I curate some awesome pages on non-fungible token (NTF) pages, that is, the Awesome CryptoKitties & Copycats [1] and the Awesome CryptoPunks & Copypastas [2]

[1]: https://github.com/cryptocopycats/awesome-cryptokitties-bubb... [2]: https://github.com/cryptopunksnotdead/awesome-cryptopunks-bu...

Re: What is an NFT from an artist’s perspective?

#15

Q: What's to stop me taking sometime else's art I find online, claiming it's mine, turning it into a NFT and making money from it? A: Absolutely nothing ... I think?

In my project, we use robust near-duplicate image detection based on image fingerprints that are generated from deep learning models. So if an image has already been registered on our system, no one else can register it.

Do you have a system in place for an artist to say “hey some asshole registered my art before I even heard of your project, no seriously, here is a screen grab of it in the editor/a closeup of the canvas/some other snippet of the Original File”?

Re: What is an NFT from an artist’s perspective?

#16
NFT sellers are dodging the elephant in the room: Buying an NFT is more like buying a print of an artwork than buying the artwork itself. Or more accurately, a link to a print of the artwork.

Yes, using crypto and blockchain you can prove that this was the first NFT print of the artwork, but that's it. It's an expensive way to proclaim that you have the keys controlling the NFT that links to the print of the artwork, and that it was associated with a crypto-denominated transaction of a certain value, but that's it.

These NFTs are also a goldmine for wash trading scams. NFT holders can "sell" the NFT to themselves over and over again at increasingly higher prices, creating an illusion of a very valuable and high-demand NFT.

Want to own an expensive NFT? Buy a cheap NFT, then use a second wallet to "buy" it from yourself. The last trade price gets recorded in the blockchain and you can now brag about having an NFT worth as much money as you were willing to scrounge up for the transaction.

Re: What is an NFT from an artist’s perspective?

#17
post #5

It has all the hallmarks of an MLM or Ponzi scheme. Lots of people hyping it up, hoping to sell on their "asset" to a bigger fool. You can't restrict ownership of digital goods. Decades of DRM have shown us that.

You can't restrict ownership of physical goods or art really, it's just that there's "authentic" goods and "fake" goods.

So you're right you can't restrict possession of digital goods but you can restrict the right to sell a digital good because any potential buyers will want to know what they're buying is "authentic".

CSGO skins go for thousands with the rarest going for tens of thousands, you can download them and possess them right now but valve says you don't "own" them and can't sell them.

Re: What is an NFT from an artist’s perspective?

#18
I’m extremely skeptical of all cryptocurrencies and most usages of blockchain. However this seems like the first interesting and potentially practical application I’ve heard.

It deals with art - something that’s value is inherently subjective. Plus it gives makers of digital art a better/additional way to fund themselves. Further, transactions would likely be limited reducing environmental impact. Finally, it could provide some competition to company’s like Sotheby’s.

Obviously there a lot of open questions (couldn’t someone else just duplicate a work and make their own coin, why not just pay an artist directly, money laundering, etc). But I think this at least warrants further discussion. It’s an interesting way to make digital art collectible/tradable

Re: What is an NFT from an artist’s perspective?

#19
post #7
post #5

It has all the hallmarks of an MLM or Ponzi scheme. Lots of people hyping it up, hoping to sell on their "asset" to a bigger fool. You can't restrict ownership of digital goods. Decades of DRM have shown us that.

It's not about not allowing access to people--it's about provably being the person named "owner" of a given good.

The fatal problem is literally: "who cares". Real "authenticity" doesn't comes from math and comes instead from culture. Using the "if a tree falls in a forest" philosophy meme: if the blockchain claims that you have the Nyan Cat image but nobody cares about it, then do you really "own" the image?

More about the history of authenticity: Religion supplied this culture of "authenticity" for some time, but after the Industrial revolution the widespread duplicate production of commodities, along with the invention of photos and videos, has been eroding away the value of the authentic "the one and only" irrelevant for some time. Walter Benjamin has a nice essay about this change of culture in his famous essay - " The Work of Art in the Age of Mechanical Reproduction". And the Internet seems to further accelerate the notion of communal art, where memes only have value if they are shared freely and not when someone hangs it in a museum. My gripe with NFTs has nothing to do with the technicalities of crypto and everything to do with everything else (primarily, politics and culture in relation to technology).

Re: What is an NFT from an artist’s perspective?

#20

Proof of authenticity, whether being digital or not, doesn't mean anything until 1) the culture of the general people around you support it, or 2) there is an entity with political power (such as the state) that forcefully protects that authenticity through law/police/the military/etc (for example, intellectual property supported by law enforcement). But firstly I think NFTs are totally antitheical to the current cul…

Who cares who owns the Mona Lisa, when I can see it online better than I can in real life (infrared imagery, x-ray scan)

As soon as "real" art collectors start buying them (already hapenening) then they will mutually invest in protecting their investment, no need for government when civil courts can preside.

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