But I have a bottle of vintage slurp juice on reserve! I can't pay for it now, all I have is real money.
At the Bored Ape restaurant, your ApeCoin is no good now
111–120 of 253 posts
Re: At the Bored Ape restaurant, your ApeCoin is no good now
#112Earlier quoted context omitted.
It's more complicated than that. > The Bored Ape Yacht Club terms of service grant a commercial license to exploit the copyright of each Bored Ape to the owner of the relevant NFT. So the holder of a Bored Ape NFT has a license to commercially use the off-chain image associated with the NFT by way of an on-chain URL. That license is granted by the actual copyright holders of all of the Bored Apes.
Yes, of course. Just like you can create anything, and license it as you wish, and keep a list of authorized licensees on https://en.wikipedia.org/wiki/Punched_tape . The NFTs are better because...
NFT provides a decentralized way to transfer the ownership in a globally visible way.
Look, I hate cryptoc, but this is about the one thing in the whole world that NFT is actually good for.
Re: At the Bored Ape restaurant, your ApeCoin is no good now
#113Reminds me of a time that I played a Bitcoin poker game at some Google VP's place up in the hills with Charlie Lee and a few other early crypto luminaries in 2014. It took us over an hour to figure out sending BTC to the "buy-in" pot because most of us had 2FA enabled on our Coinbase accounts and the cell reception was so bad at that we couldn't get our confirmation texts. We ended up writing IOUs on a sheet of paper…
the first man to ever build and sell a car, recounting his critics in the transportation industry: “There’s nothing the matter with me. It’s you! You’re crazy if you think this fool contraption you’ve been wasting your time on will ever displace the horse.”
The contraption actually had some utility.
Re: At the Bored Ape restaurant, your ApeCoin is no good now
#114Earlier quoted context omitted.
but you can order a print of the Mona Lisa very easily for like $15
The loss of fidelity between the physical original and a $15 print is comparable to 10,000 generations of jpg decoding and re-encoding.
The original you see today isn’t the original that would have been seen immediately after it was painted.
Mona Lisa is pretty crap anyway, if you ever find yourself in the Louvre, look at what’s hung on the opposite wall. Now that is an impressive painting.
Re: At the Bored Ape restaurant, your ApeCoin is no good now
#115Earlier quoted context omitted.
Why would anyone want to buy food with crypto anyway? Can’t understand that. It is not faster. It is not cheaper to transfer. It is not even as anonymous as cash I’d say. I can see why would someone buy stuff online using crypto but this does not make much sense.
But that was the original promise of crypto currency, that it would replace cash and checks and credit cards for all transactions. It was based on a lot of ignorance about how money actually works, but that was the claim way back when. I had a manager back in 2007–8 whose wife had a bakery that accepted Bitcoin as payment and he was a big crypto advocate. I could tell back then that all the claims made no sense. What…
> But that was the original promise of crypto currency, that it would replace cash and checks and credit cards for all transactions.
Some fanatics may have claimed that. But the bitcoin whitepaper itself says that traditional payments are good enough for most cases (and then enumerates cases where it's not, such as if you want non reversible transactions).
Re: At the Bored Ape restaurant, your ApeCoin is no good now
#116Re: At the Bored Ape restaurant, your ApeCoin is no good now
#117Crypto, web3 and NFTs are social movements. They are the crowd that knows things. As the hippies used to say about LSD and counterculture, "You're either on the bus, or off the bus." Crypto, web3 and NFTs are spiritual tech that is throwing off the shackles of corporate control and making a new society. It's an identity. It's a brand. It's a community. If I was in my 30's I'd probably be into it. I would know damn we…
> throwing off the shackles of corporate control
The entire crypto industry is built on the back of VC money.
And I fail to see how Opensea is not the epitome of corporate control when it has ~80% market share in the NFT marketplace space.
Re: At the Bored Ape restaurant, your ApeCoin is no good now
#118Nobody could see this coming! Lol Seriously, crypto has yet to solve any real world problems I’ve faced. And NFTs are just the worst. Money laundering schemes at best. If I can’t buy an apple easily with crypto, it’s useless.
Crypto does solve a few real world issues (fast, global, cheap, secure, anonymized transfer of value). But it seems that some people thought it fixes the "i want to get rich fast" problem, and was bloated as a result. It was never meant for that problem.
> Crypto does solve a few real world issues (fast, global, cheap, secure, anonymized transfer of value).
I pay people from Argentina to Ukraine and there are myriad ways I can transfer them money quickly (seconds, sometimes), cheaply (down to fractions of cent on the dollar) and securely without resorting to crypto. I have no need for total anonymity but from what I hear crypto is not great on that front, either.
Re: At the Bored Ape restaurant, your ApeCoin is no good now
#119Earlier quoted context omitted.
That actually doesn't apply to Bored Apes. With those NFTs you get copyright ownership of the image.
Even if that’s the case, does anyone think procedurally generated computer art of Bored Apes would be worth even a fraction of a few dollars if it wasn’t for crypto marketing making people believe they can sell it for much more? In other words, the only value these things have is the belief that a bigger sucker will come around who will pay even more for it. And has it actually been copyrighted with the USPTO and the…
Speculation is one thing, and I think it is what drives the costs to such ridiculous extremes.
However, I don't think it explains all of the value.
First is the art itself, probably not worth much considering that it is rather generic and partly generated art, but some people may actually like it.
Then there is the idea of being part of something big. Some people think that NFTs are revolutionary, that in the future, this is what will represent property, more than a paper in some administrative office. Owning a NFT now is like owning a piece of history.
And there is also this idea that many collectors share that if it is rare and unique, it is worth having, and apes are rare and unique.
I know some collectors who spend thousands on collectable items, like video game cartridges or trading cards with no intention to ever sell them back. It is their treasure, it represents a lot of dedication and effort, they may have memories attached to it. It may sound stupid to outsiders but it is important.
Re: At the Bored Ape restaurant, your ApeCoin is no good now
#120Earlier quoted context omitted.
I don't think they're transferring the copyright but granting IP and commercial rights to the NFT holder. As many of the other commenters are pointing out, this isn't the typical way NFT's work but some are like this. Just like some NFT's don't point to a url but either are stored on chain (cryptopunks) or via content-based addressing (IPFS hash). https://www.businesswire.com/news/home/20220311005470/en/Yug...
The problem is when you buy a second hand bored ape, you don’t have any direct contract with BAYC. They might be able to enforce terms of their original contract on the first party buyer - ‘once you sell the ape you no longer have this license’. But they have no contractual relationship (no ‘privity’) with you. Perhaps possession of the ape entitled you to go to BAYC and get a license contract? That’s great, so long…
No, BAYC license terms say that whoever owns the NFT has the commercialization rights.
Now, all you have to legally is prove that you own the NFT, because theft and computer hacking aren't a legally accepted way to transfer ownership.