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I made $50K in three days with NFTs

paulstamatiou.com

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Re: I made $50K in three days with NFTs

#71

Post by bouncycastle »

mpfundstein wrote: post #18
bouncycastle wrote: post #16

Earlier quoted context omitted.

Why use a Blockchain? MySQL will work just fine.

and who controls the database?

You're asking the wrong question...

NFTs won't work with DRM, because with DRM you need to encrypt the content and then decrypt it to view it. But you cannot put the decryption key in the NFT, because everything on the blockchain is public. If you put the decryption key with the NFT, everyone will have it.

So you will still need some kind of centralized system where you will issue the decryption keys to your viewers, and probably the easiest way to track subscriptions and keys is to use a database like MySQL.

(Btw, I do not like DRM at all)

Re: I made $50K in three days with NFTs

#73

Post by latexr »

tiborsaas wrote: post #7

Nice job an all of this, but the real story is about how to capitalize on 40k Twitter followers.

> the real story is about how to capitalize on 40k Twitter followers.

As is pretty much every tech blog post on “I’ve made in ”. Most fail to mention step zero of having an established audience.

I wonder what percentage is disingenuous (trick you into thinking anyone can do it, to hook new followers) versus delusional (honestly don’t realise the prior audience is what made the difference). Maybe the perception flips after a given number of followers.

Re: I made $50K in three days with NFTs

#74

Post by PStamatiou »

tiborsaas wrote: post #7

Nice job an all of this, but the real story is about how to capitalize on 40k Twitter followers.

Author here. I don't think many of my followers ended up being purchasers directly. The vast majority of sales I can attribute to the collection finding its way to various private discords and Telegram groups for folks interested in NFTs.

Re: I made $50K in three days with NFTs

#75

Post by Borrible »

Art is in the eye of the beholder. Just like value. So, in a sense, art is the perfect expression of the subjective theory of value. And by the way, it resembles religion in that, one must believe in it. But as every good artist, salesman and priest knows, it is of greater importance that as many others as possible be convinced of how valuable it is. Nothing new here.

It doesn't matter wether there is the possibility of a 'perfect' copy. You just have to convince your connoisseurs, buyers, believers that art is a process and a story/history not a product.

Et voilà que.

There is your uniqueness! And/or you license it and go mass market, see Dafen in China.

https://www.dafenvillageonline.com/

Okay, they copy it without license, but hey, they're Chinese so that comes naturally.

By the way,the art game is rigged since decades. The moment the Saatchis of this planet decided NFT's were a thing, they were a thing.

Of course it's an illusion, but some sell it and a lot buy it. They agreed on it. That's its value.

Re: I made $50K in three days with NFTs

#76

Post by Kkoala »

PStamatiou wrote: post #74
tiborsaas wrote: post #7

Nice job an all of this, but the real story is about how to capitalize on 40k Twitter followers.

Author here. I don't think many of my followers ended up being purchasers directly. The vast majority of sales I can attribute to the collection finding its way to various private discords and Telegram groups for folks interested in NFTs.

So are you saying that someone just happened to spot your collection from OpenSea, and then posted that to various NFT groups? I have no idea if that actually happens, just curious

Re: I made $50K in three days with NFTs

#77

Post by LMYahooTFY »

ykevinator3 wrote: post #69
LMYahooTFY wrote: post #68

Earlier quoted context omitted.

>I just think it’s a way for people to show off their wealth So is the Mona Lisa. So is a manuscript of The Tales of Beedle the Bard. The notion of NFTs is embedded in the idea of immutability. If unique strings of bits hold no value for you, that's your preference and nothing more. If you can only be sentimental about oil and canvas, or handwritten ink on leather bound paper, that's your preference and nothing more.…

I can make a hundred million replicas of the original for 10 cents, this is not a preference.

You're stating the orders of magnitude as if they're significant. Can you explain how?

What do you think patronage is?

Re: I made $50K in three days with NFTs

#79

Post by finexplained »

PStamatiou wrote: post #74
tiborsaas wrote: post #7

Nice job an all of this, but the real story is about how to capitalize on 40k Twitter followers.

Author here. I don't think many of my followers ended up being purchasers directly. The vast majority of sales I can attribute to the collection finding its way to various private discords and Telegram groups for folks interested in NFTs.

And how did your collection find its way into those discords... You outsourced the marketing to your followers, that's what social capital is. If you were a no-name individual with 20 followers, your NFTs probably wouldn't have sold despite being exactly the same, because the probability of them ending up in front of the right people would have been much lower, unless you went to considerably higher marketing effort. Thus the point of the parent comment stands.

Re: I made $50K in three days with NFTs

#80

Post by melomal »

codetrotter wrote: post #51
melomal wrote: post #12

Earlier quoted context omitted.

1000 true fans is a great article that is well worth reading. It really does go to show that building a community can be a worthwhile task, even if it does take time the long term benefits can be huge.

This one? https://kk.org/thetechnium/1000-true-fans/

That's the one. Honestly, if anyone wants to know just why NFTs do work, take a read of this.
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