Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

What is an NFT from an artist’s perspective?

alex-pardee.medium.com

Post reply on HN
Print view View original

61–70 of 89 posts

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

#61

Post by 6nf »

jVinc wrote: post #56
woleium wrote: post #23

Earlier quoted context omitted.

This is the traditional way to launder money with art, only now much easier!

And to me the interesting question here is, if we both buy cheap 10$ tokens, and agree to buy these from each other at 1000$ and "lose our keys" will we be able to collect insurance on the lost asset? Will we be able to deduct the loss in taxes? Or if we donate the "artworks" to each others charities will we be able to deduct them in taxes?

Good luck finding an insurer that will insure these for you

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

#62

Post by Igelau »

dorkwood wrote: post #10
jarofgreen wrote: post #9

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?

This guy made a few hundred thousand by doing just that. https://mobile.twitter.com/muratpak/status/13585748601721569...

Oh man, it's even structured like a penny auction where the majority tile holder 'owns' the "final creation".

I'm willing to grant that it's slightly slightly interesting to consider what some works would look like if they were chopped to pieces and reconstituted from only the pieces people would individually bid on. There's an artistic statement in there somewhere.

But the pomp and slime that this is presented with completely obscure that.

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

#63

Post by cam0 »

a1369209993 wrote: post #58
woleium wrote: post #20

Earlier quoted context omitted.

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.

> 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) Exactly. The only things canonical-physical artworks are good for are conspicuous consumption/bragging rights and money laundering(/other money-laundering-adjactent activities).

And the bragging typically manifests by hanging the physical work on the walls of your home(s) so your guests can view it and be impressed as if they're at a museum or gallery. I'm wondering how the bragging rights for NFTs will manifest... 25 OLED screens decorating my walls with jpegs?

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

#64

Post by woleium »

jVinc wrote: post #56
woleium wrote: post #23

Earlier quoted context omitted.

This is the traditional way to launder money with art, only now much easier!

And to me the interesting question here is, if we both buy cheap 10$ tokens, and agree to buy these from each other at 1000$ and "lose our keys" will we be able to collect insurance on the lost asset? Will we be able to deduct the loss in taxes? Or if we donate the "artworks" to each others charities will we be able to deduct them in taxes?

the tax scam will be: 1. make shitty meme with alt dirty account 2. buy meme with real account for $1mm 3. gift meme to charity auction, write off 1mm in taxes 4. launder 1mm from dirty account by buying shitty meme from main account.

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

#65

Post by abalaji »

PragmaticPulp wrote: post #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,…

How is this different from having someone you know help drive up an artwork’s sale price so you get a higher last auction value?

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

#66

Post by crazygringo »

dbspin wrote: post #47
arduinomancer wrote: post #25

I think the reason it doesn’t make sense is that when you buy art IRL you actually own the original which can’t be duplicated. This is not true of a JPEG. I can perfectly duplicate it. Now where it might make sense is if everyone views the asset through an authoritative “viewer”. For example cryptokitties website. In that case it somewhat makes sense. As an analogy if I create a private World of Warcraft server and g…

Except that there's a huge market for 'official' numbered prints. Often the sales of print editions by an artist can rival or exceed the value of an original painted piece. These prints are more more authentic than any other print of the same piece. Their value derived from scarcity, provenance and association with the original creator. All of these are present in an NFT.

Can you provide an example of a print being valued more than the original painted piece?

That defies all logic unless the print isn't just a print -- e.g. it's in a million dollar gold frame or was previously owned by the Pope or something.

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

#67

Post by kobasa »

Once again the HN community completely missing the point on crypto and this time on NFTs. Bunch of unimaginative people who think they're smarter than everyone else but have missed out on the biggest technological investment opportunity of the past decade and continue to remain petty and close minded on something they somehow still don't even understand.

I'll throw you guys a little bone. Imagine sports card collecting, in the real world the hassle of keeping it in good condition, sending it to get it graded, then finding a buyer online, sending it again, and then hoping to get paid...all of that is full of friction and generally a terrible experience. NFTs like NBA Top Shot allow you to bypass all of that and the process of opening a pack, finding the price of it, and selling it can be done all in seconds. It is legitimately a 10x improvement from a logistical standpoint. And that's just scratching the surface, it's not only 10x more convenient and easier to find liquidity but it's actually programmable so there's pretty much infinite stuff that can be built on top of it like analytical tools, games that it integrates with and tracking ownership and getting athletes involved and displaying in virtual spaces and attaching digital custom signatures etc etc.

Even if you personally don't like it or think "its stupid", the popularity of some of these products is undeniable. It is legit blowing up and has disrupted previous industries that people who get it refuse to go back to old ways. Sorry the market has spoken and your take is wrong.

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

#68

Post by grzm »

kobasa wrote: post #67

Once again the HN community completely missing the point on crypto and this time on NFTs. Bunch of unimaginative people who think they're smarter than everyone else but have missed out on the biggest technological investment opportunity of the past decade and continue to remain petty and close minded on something they somehow still don't even understand. I'll throw you guys a little bone. Imagine sports card collecti…

> Once again the HN community completely missing the point

> I'll throw you guys a little bone.

Just leave this out. You're part of the the community you're lumping here.

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

#69

Post by whatshisface »

abalaji wrote: post #65
PragmaticPulp wrote: post #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,…

How is this different from having someone you know help drive up an artwork’s sale price so you get a higher last auction value?

Not that different. The art world is also kind of scammy. Most people wouldn't want to put money in to it.

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

#70

Post by gge »

kobasa wrote: post #67

Once again the HN community completely missing the point on crypto and this time on NFTs. Bunch of unimaginative people who think they're smarter than everyone else but have missed out on the biggest technological investment opportunity of the past decade and continue to remain petty and close minded on something they somehow still don't even understand. I'll throw you guys a little bone. Imagine sports card collecti…

Whenever crypto comes up on HN all the comments are either copium, Tether, or people saying "I'm not wrong its the market thats wrong".

Amazing to see how the tech/SV mainstream completely missed out on Defi, and are now missing out on NFTs.

This comment explains HNs relationship with crypto perfectly: https://news.ycombinator.com/item?id=24310174. Good quote from @balajis: "Crypto is what comes after Silicon Valley"

Post reply on HN