I just don’t understand. What is this NFT for? If you want to own a copy of a Steamboat Willie frame, just download it. I guess I just don’t get NFTs.
Because you have two brain cells, so you are not a mark, and because you have scruples, so you are not a pusher.
Sounds like something a loser with no sweet NFTs would say.
You’re clearly too well-adjusted to understand the scene sufficiently to understand this (that’s a compliment!), so here goes:
- People pushing NFT series and s%!tcoin tokens need to somehow generate hype.
- Ripping intellectual property is low hanging fruit for this. In the token scene, for instance, you’ll find things like “Bart Token”, “Morty Coin”, etc. all the time. On their websites and telegram channels they will steal copyright images and trademarks all the time to push these tokens. They are bought and sold on decentralised exchanges and always die in a week or two after one or two pump and dumps. High risk decentralised gambling, basically.
- When a token is ripping off copyright, it’s known that its chances of getting on big centralised exchanges is very low to zero. If it were to ever get big enough to get the attention of the corp getting its IP stolen, it will get swatted down. I imagine it’s the same with NFT series and opensea.
- Steamboat willy has been in the news, so people are aware of it right now, and is now out of copyright, so token ‘devs’ and NFT ‘artists’ can take imagery from it without limiting its potential to reach hundreds of millions market cap.
- Hence IP leaving copyright is a ‘bullish’ signal for NFTs and tokens based off of its imagery. Whereas in reality it should be the opposite, where an NFT being based off a non-copyright image makes it even less valuable than otherwise (assuming it’s possible to have a value closer to zero than zero).
I guess the current state of NFTs is that the value is in the speculative possibility of somebody else being stupid enough to buy it for more than you paid for it. There is no intrinsic value to the NFT at all. Such a wonderful economy.
Since the NFT is only a hash-chained link, I don’t see why they were every denigrated when linked to other people’s copyrighted material. It’s not like owning the NFT gave you any rights to the actual digital content (not even to display it as a thumbnail) unless there was a separate license for it. It was widely assumed that you somehow got rights from your pointless purchase, but only a few collections came with such licenses.
Yeah, at this point I assume anyone buying NFTs is just looking for the bigger sucker.
One thing to remember about these articles is that a lot of the supposed money involved is just self dealing. Like someone makes 1000 nfts and buys 900 of them themselves and hopes that the activity encourages some idiots to buy some of them.
All the valuation headlines are bullshit.
Well, I mean people were using them to profit on the work of artists without compensating them. It’s basically bootlegging. That is shitty in any context.
Ya, but it’s kind of like selling someone the Brooklynn bridge, and then saying you are “profiting off of the people who made the bridge without compensating them.”
It’s more like selling prints or posters of art without the creator’s knowledge, consent, or compensation. (with the added bonus of never shipping out the item)
Its more like me selling you a Pet Rock, except the rock has more value.
I feel like “bill of goods” already perfectly describes NFTs: you’re not buying some items, you’re buying a reference to (i.e., a list of) those items. Except the list is virtual and sometimes not even that, but the important thing is that the list is on a blockchain which multiplies its value by 10 or more.
Tough times for the ape community.
It is with a heavy heart I announce the sale of my long term ape, Salazar. Most of my early followers know me as this ape. My kids know me as this ape. I met my wife when I WAS this ape and had my first kid when I was still proudly wore this ape. By extension, it is part of me. I travelled around the world with this ape in my pocket. We went to the most luxurious hotels, the craziest night clubs and the most serene beaches. We had it all.
Unfortunately, what blur is doing to apes is frankly unacceptable. Since the creation of Blur, the ape floor price has tumbled from 85e down to 12e. Two weeks ago myself and around 15 other high ranking ape members gathered at the recent International Ape Workshop in Miami, and on behalf of the community we wrote and delivered a notarised letter begging Pacman to stop this nonsense at once.
We outlined three key terms the apes were demanding of Pacman:
1.) Effective immediately, blur should be shut down and all NFT collections affected should be refunded a part of their floor price at the time blur was created
2.) A written apology to @yugalabs and the community 3.) Sell all remilia assets held by ANY members of the blur team and publicly denounce @CharlotteFang77
As of today, March 28, 2024, Pacman has refused to acknowledge our letter. I have no choice but to sell my ape and retrieve some form of financial value before it trends to zero. Thankyou to everyone in the ape family who has been sending me messages over these last few days. I love you all.
I hope one day we meet on the other side, until then, goodbye.
I had no idea what any of that meant, so I spent a couple minutes clicking around and trying to figure it out. It appears to be hilarious on a number of fronts. Apparently “blur” is an NFT marketplace that came up a year and a half ago or so which out-competed OpenSea by basically saying “you know those royalties that all NFT creators thought they were going to get on all future sales of their NFTs, because the royalty rules are written indelibly onto the blockchain? Yeah, we’re just not going to pay those, and pass the savings on to you!”
Also the “demands” in the tweet you quoted are hilarious. “I lost a bunch of money in the totally unregulated market of my libertarian dreams and now I want someone to give me all my money back. It’s not fair.”
Fun strategy to post an open letter saying the thing you are about to sell is literally worthless.
And here I thought they bought these NFT for the artistic merits.
I don’t get the fiscal cosplay aspect.
Seriously WTF