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Can I hear a legitimate argument why some people pay hundreds of thousands for the “receipt to a JPEG” of a monkey? This whole thing is totally money laundering right?
NFTs as they stand now are definitely over valued and ridiculous. If anything it's most comparable to cosmetics in video games like a fortnite skin or rocket league decal. Some people just buy things for clout idk
Post by Silver Surfer on Feb 19, 2022 11:40:57 GMT -5
Essentially the use case for an NFT is instead of buying a ticket from TicketMaster- you'll buy a ticket from Ticket Chain or something. Instead of an arbritrary convenience fee that just lines the pocket of a third-party corporation you'd pay a gas fee that supports the computer program
Essentially the use case for an NFT is instead of buying a ticket from TicketMaster- you'll buy a ticket from Ticket Chain or something. Instead of an arbritrary convenience fee that just lines the pocket of a third-party corporation you'd pay a gas fee that supports the computer program
unless something is socialized in this country, you will always be lining the pockets of third parties. NFTs and crypto will be the same thing we are doing now.
Essentially the use case for an NFT is instead of buying a ticket from TicketMaster- you'll buy a ticket from Ticket Chain or something. Instead of an arbritrary convenience fee that just lines the pocket of a third-party corporation you'd pay a gas fee that supports the computer program
unless something is socialized in this country, you will always be lining the pockets of third parties. NFTs and crypto will be the same thing we are doing now.
I mean something that can't be centralized can't just be randomly centralized
unless something is socialized in this country, you will always be lining the pockets of third parties. NFTs and crypto will be the same thing we are doing now.
I mean something that can't be centralized can't just be randomly centralized
it might not be "centralized" by a textbook definition but you're still gonna end up lining the pockets of: • crypto trading platforms • NFT monkey creators • public figures like Elon who decide to take advantage of speculative markets to enrich themselves
If there is money to be made in this world, it will be found out and exploited by middle men, do-nothing agencies and opportunists who will use it to enrich themselves. It's a part of life and crypto is not only immune to it, it is one of the worst offenders. Why do you think so many crypto platforms advertised during the Super Bowl? It's all just middlemen.
And I mean it's not like NFTs or crypto in general have a profit motive
This post confuses me. Maaaaybe the original intent was not to create profit but that's what it is now. Why else would crypto platforms be investing so much? Why would crypto be tradable on Cash App? Why else would someone buy a 200k jpeg of a monkey? It's all profit driven.
And I mean it's not like NFTs or crypto in general have a profit motive
This post confuses me. Maaaaybe the original intent was not to create profit but that's what it is now. Why else would crypto platforms be investing so much? Why would crypto be tradable on Cash App? Why else would someone buy a 200k jpeg of a monkey? It's all profit driven.
yeah those companies are profit driven. The coins and projects themselves are not
I mean something that can't be centralized can't just be randomly centralized
it might not be "centralized" by a textbook definition but you're still gonna end up lining the pockets of: • crypto trading platforms • NFT monkey creators • public figures like Elon who decide to take advantage of speculative markets to enrich themselves
If there is money to be made in this world, it will be found out and exploited by middle men, do-nothing agencies and opportunists who will use it to enrich themselves. It's a part of life and crypto is not only immune to it, it is one of the worst offenders. Why do you think so many crypto platforms advertised during the Super Bowl? It's all just middlemen.
This post confuses me. Maaaaybe the original intent was not to create profit but that's what it is now. Why else would crypto platforms be investing so much? Why would crypto be tradable on Cash App? Why else would someone buy a 200k jpeg of a monkey? It's all profit driven.
yeah those companies are profit driven. The coins and projects themselves are not
why does it matter if the coins themselves aren't profit driven but the main ways to access the coins are? It's like saying "this roller coaster is free to ride but admission to the park costs $20".
Looks like she's amassed nearly 25 ETH (~80k) and is at least recognized by the NFT community as "All Seeing Seneca" but yes this basically reminds me of the guy who created the Nike logo but barely made any money
yeah those companies are profit driven. The coins and projects themselves are not
why does it matter if the coins themselves aren't profit driven but the main ways to access the coins are? It's like saying "this roller coaster is free to ride but admission to the park costs $20".
Post by Fozzie Bear on Feb 19, 2022 17:33:34 GMT -5
I have so much to say but I don't even know where to begin.
To bring things back to music: there's a really cool platform called www.sound.xyz where you can "back" a new single from an artist. You own one of the NFTs for the song, which really doesn't mean much, but you directly support the artist for a debut single and contribute significantly more money than they'd receive from Spotify. Artists who have featured on this include Pussy Riot, DRAMA, Oshi, RAC, etc.
The platform also has a Discord server where you can directly talk to the artists. It's a musician-to-fan connection I've yet to see in any other medium. The beauty of NFTs for musician is they can provide another reliable income stream for smaller indie artists. Bandcamp is great and so is seeing an artist on tour, but this is another way to support an artist, be directly apart of their music, and join a like-minded community.
Essentially the use case for an NFT is instead of buying a ticket from TicketMaster- you'll buy a ticket from Ticket Chain or something. Instead of an arbritrary convenience fee that just lines the pocket of a third-party corporation you'd pay a gas fee that supports the computer program
Ticketmaster is still gonna control the venues that you use those tickets at, which will allow them to control the platform NFTickets are created and traded on. It *could* be done in an altruistic manner, but it won’t be.
Fuck Ticketmaster but even if you have NFT concert tickets there will need to be some infrastructure in place like the website where you buy the ticket and the technology used at the venue to verify the ticket you have is legit. These things cost money so the idea that the only fee you will need to pay is a gas fee is definitely false. The people that setup this infrastructure will want to make a profit. And that’s how you get Ticketmaster again.
Last Edit: Feb 19, 2022 21:18:51 GMT -5 by r - Back to Top
Fuck Ticketmaster but even if you have NFT concert tickets there will need to be some infrastructure in place like the website where you buy the ticket and the technology used at the venue to verify the ticket you have is legit. These things cost money so the idea that the only fee you will need to pay is a gas fee is definitely false. The people that setup this infrastructure will want to make a profit. And that’s how you get Ticketmaster again.
Opensea got hacked and a bunch of people lost their NFTs
This is the thing that worries me most about the space and makes me pump the brakes the most. Not hacking per se, as that is everywhere and really simple to avoid- but that probably most of the general population isn't smart enough to take the steps to prevent phishing schemes and stuff. Like sure it could be mass adopted but I guarantee like 40% of people won't even use 2FA
Opensea got hacked and a bunch of people lost their NFTs
This is the thing that worries me most about the space and makes me pump the brakes the most. Not hacking per se, as that is everywhere and really simple to avoid- but that probably most of the general population isn't smart enough to take the steps to prevent phishing schemes and stuff. Like sure it could be mass adopted but I guarantee like 40% of people won't even use 2FA
For a space that’s fundamentally anti centralization and anti regulation, this kind of stuff is a feature not a bug when you base it on the blockchain when everything is final and can’t be amended.
Fuck Ticketmaster but even if you have NFT concert tickets there will need to be some infrastructure in place like the website where you buy the ticket and the technology used at the venue to verify the ticket you have is legit. These things cost money so the idea that the only fee you will need to pay is a gas fee is definitely false. The people that setup this infrastructure will want to make a profit. And that’s how you get Ticketmaster again.
I'd rather take a wait and see approach
Lol. This is the problem with so many of the people hyping up blockchain technologies. They suggest some unrealistic and oversimplified blockchain solution to a problem and then when they are challenged or asked how it will actually work in the real world they have nothing and suggest that everything will be figured out in the future.
Lol. This is the problem with so many of the people hyping up blockchain technologies. They suggest some unrealistic and oversimplified blockchain solution to a problem and then when they are challenged or asked how it will actually work in the real world they have nothing and suggest that everything will be figured out in the future.
I don’t pay much attention to it but it seems pretty obvious that the corporations are already taking NFTs and incorporating it into their existing business models. Just swallowed up into the current mode of production and outside of the usual movers and shakers a relatively small amount of new money will be made. A lot of that built off the backs of people seeing this as a opportunity to invest in their futures. Really nothing transformative going on here at all.
That’s not even to say that it couldn’t be something useful but it’s basically the episode of Black Mirror where the guy who snaps and goes on a radical rant in front of the entire community just becomes a entertaining commodity. A way for the despondent members of his dystopia to have a cathartic release valve that doesn’t actually threaten the structure of their society. Because, as I said above, radical ideas can be commodified and fused into the existing system.
Lol. This is the problem with so many of the people hyping up blockchain technologies. They suggest some unrealistic and oversimplified blockchain solution to a problem and then when they are challenged or asked how it will actually work in the real world they have nothing and suggest that everything will be figured out in the future.
This is a pretty generalized and assumptive statement
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