As someone who was early in both crypto and NFTs, I really don't get the hate from the crypto community especially. They are a powerful tool for artists and creators to manage their works, especially digital artists who could never control their art before. They can and do manage commercial and IP rights, artist royalties, help self-organize DAOs and other efforts, and assure the authenticity and provenance with a categorical shift in confidence which could never be done before. They will and are changing and improving our digital world such that it will never be the same, just as crypto has.
NFT projects are just MLMs for tech elites
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Re: NFT projects are just MLMs for tech elites
#132> The venn diagram of NFT haters are almost exact matches of Crypto haters Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic. Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
I like to think about NFT as an easy method of buying art from artists. There are many platforms for this with classical purchase mechanics, but as an artist myself, I love the idea of an auction-based platform for this era of digital art.
Right now, there are no mechanism for extraordinary digital artists to make their art expensive like IRL art. The best thing is you can do commissions for people, but it's hard for them to maintain their rights (both for artist and customer).
Maybe NFT will be more prominent with some "data registry" between platforms to make it global to check your rights on items, and great artists can sell their art for a more reasonable price. For now, IRL art is like a "club for friends," and digital artists are not taken as seriously as they, even when digital one draw some almost masterpieces and spent 3-6 months on every item.
Re: NFT projects are just MLMs for tech elites
#133> The venn diagram of NFT haters are almost exact matches of Crypto haters Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic. Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
"There are an infinite number of potential NFTs. "
There are an infinite number of made up currencies as well.
Because neither of them function as a currency then they are the same thing, the difference being, with NFT's you own some 'art' or something like that, with Crypto you own a 'number'.
The 'potential usefulness' of Crypto makes it feel like it has more material merit, but in practice, they're not useful (not yet), so they might as well be NFTs.
There are no Crypto models today that make sense in any real systematic way, other than some governments reasonable attempts to be more digital, which comes wit a bunch of scary caveats as well.
Currency is a form of social credit that is fundamentally tied to the economy in which it is used as a means of transaction, there is no escaping that reality. We can't just magically make up some thing that is independent of that underlying reality.
If we could merely overcome the kludigness of banks, and the transnational cost of VISA - and make something a little more easily internationalized ... those things would help, but those probably are going to have to be a function of 'good governance'. Maybe the experiments in New Zealand and Sweden etc. will pay off if they can find something that works, that can be expanded upon.
Re: NFT projects are just MLMs for tech elites
#134> The venn diagram of NFT haters are almost exact matches of Crypto haters Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic. Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
As with any other kind of collectable, scarcity is created artificially. There is a potentially unlimited number of baseball cards. I can print one for myself today. Yet it is the authenticated 1933 Goudey #53 which is worth $4.2 million. NFTs provide this authenticity.
Except that they don't, and still rely on experts to give any kind of authenticity. NFTs are like the serial numbers on dollar bills - if the dollar is genuine, then that serial number is unique, but the serial number itself doesn't prove that the dollar is genuine.
Re: NFT projects are just MLMs for tech elites
#135> The venn diagram of NFT haters are almost exact matches of Crypto haters Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic. Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
There’s an infinite number of potential paintings too. I don’t see what that has to do with the value of any one particular painting. There’s not an infinite number of the one original Mona Lisa.
Re: NFT projects are just MLMs for tech elites
#136> The venn diagram of NFT haters are almost exact matches of Crypto haters Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic. Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
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Re: NFT projects are just MLMs for tech elites
#137Earlier quoted context omitted.
When it comes to luxury cars and clothes, you force others to see that you’ve spent for status. That doesn’t exist for NFTs. There’s no public forum I can go to where others are forced to observe my status signals. High end art is more about investing, money laundering, and tax havens then status.
Except twitter profile pictures now right? Verified NFTs are in the pipeline. https://twitter.com/af_mada/status/1443243702156206089?s=20
How? Your Twitter profile picture is an image. What stops me from saving your profile and setting mine to the same thing?
Are you suggesting Twitter validates that a Twitter account owns an NFT and shows a check/badge/whatever? I also don't think that works. Whatever rare NFT you have I can go make a visually identical NFT for and confirm that I own that NFT.
I often think that I must be missing something about NFTs because they seem breathtakingly stupid. But, I've yet to find out what I don't understand about them.
Re: NFT projects are just MLMs for tech elites
#138As of now ... cryptocurrencies and the blockchain are just solutions searching for problems.
Re: NFT projects are just MLMs for tech elites
#139Earlier quoted context omitted.
Being an NFT does not preclude anyone else from hanging the exact same physical representation on their wall. Exclusivity matters if you want to impress your rich friends.
That is a circular argument. That is the same argument as print vs original -- NFT owners are paying for the original to support the art regardless of how accurate a print may be. It's much more impressive to those people to have paid to support the original rather than having a knockoff... This has been true as long as goods have been produced.
> NFT owners are paying for the original to support the art
This is a funny way of saying "to enter a speculative market with foolish money."
Re: NFT projects are just MLMs for tech elites
#140> The venn diagram of NFT haters are almost exact matches of Crypto haters Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic. Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
there are also people who think the "art" is full of shit. So art + bs tech is doubly so.