/biz/ - Business & Finance

I still don't know what the fuck an NFT is.

>>30003573
Maybe I’m retarded but NFTs have got to be the dumbest fucking use of blockchain

>>30003573
Based

>>30003651
Normie trash garbage.

>>30003651
it's a token that has an ID to it. And people say they represents pictures, collectibles or art sometimes.

It's all a scam, of course.

>>30003573
I spent over 30 ETH on NFTs so far and I can't stop

>>30003746
Have you sold any?

>>30003847
Nope but I am actually making a website/dapp to sell NFTs with a cool concept. Hope we can make a few thousands on that

You guys have no idea lmao

>>30003847
meant for this dude
>>30003791

>>30003651
It's basically a shitty little internet goodie (image, music, video, 3D render etc.) that transits on the blockchain to ensure the person who bought it is the only one who can have it.

>>30003573
Its a digital piece of art that cannot be copied ever at all, completely immune to theft. I promise.

>>30003847
I sold three hashmasks for 23 ETH, flipping some others, keeping some others because I like the art

>>30004077
>keeping some others because I like the art
That can't possibly be true

>>30004077
just save a copy of it to look at whenever you want and then sell the NFT worthless garbage

>>30003973
How does that work?

>In case anyone else is to retarded to understand: An original painting is hand created, one of a kind. You can see the brush strokes and craftsmanship just by looking at all the fine details. There is TEXTURE. A picture of a painting retains NONE of this. A copy of an NFT contains 100% of the same artifacts that the original NFT has. Nothing is unique between a copied and original NFT.

>>30004198
cool, save a copy of a beeple and try to sell it

>>30003984
just take a screenshot lmao

>>30003651
non fungible token, I don't get it really or even care about it

>>30004254
Okay
*takes a screenshot*

>>30003665
No no
You are right
it’s fucking crypto kitty shit all over again

>>30004232
>t.midwit
You are the kind of person why said Bitcoin was a scam for 10 years

Stupid fad

>>30004225
It doesn't. Screenshots exist

>>30004232
yep NFT only works with unique items in games

Any of these open editions worth going for today on nifty gateway? All look like trash and unpopular artists desu

>>30003665
ngmi
NFTs are applicable to a countless number of invaluable use cases. Ignore the meme art NFT trend and do some research into their other use cases.
Or get left behind senpai

>>30004435
yup, 100% correct

>>30003791
dude :/ You could be staking that in a years time.

>>30003573
Imagine if Pokemon produced official NFTs.
Good god that would bring crypto to the mainstream faster than anything ever before.

>>30003651
its like a tf2 hat for normies

>>30004225
TF2 hats, CS:GO skins, emotes and digital trading cards
The concept has been around for a while, but now it's on the BLOCKCHAIN!!!

>>30004367
The exact opposite really.

>>30004540
Care to elaborate, faglord?

Disney Sticker Collection, except you don't have physical sticker but can prove ownership cryptographically.

But then again I'm sure 95% of people who buy it don't know what a private key is, other than "a password"

Yeah I don't know why anybody would pay for it. Then again, people also buy crypto without promise of dividends, so it might not be so crazy after all.

Probably a fad like crypto kiddies. It's also bound to Ethereum, so shit won't survive 30 years, probably.

explain this to me, if its like art or something, why cant i just take it?

>>30003651
What everyone else said, and it's gonna be bad for the internet since you'll need permission to post/use the art. They can also be used in video games as special items that can be lent out, for example 100 magical nigger swords get created that make it easier to steal shit when holding, you can buy one (or all 100) and lend them out and people will pay you to use them. If you ever see a funny me me NFT item for a video game be sure to buy as many as possible and lend them out to normies for a profit, then you can just sell them once people stop using them.

>>30003651
disposable art.
we have arrived, all of culture is now a giant hard drive, awaiting the inevitable crash when the head hits the platter and the 10,000 revolutions per minute shiny silver disc explodes into a thousand, a million pieces, in the vacuum where nothing more matters, not Art, not Life, not Creation.

>>30004846
see pic related

To me, this is like selling public keys.

>>30004232
>DUDE BRUSH STROKES WOW
boomer hands typed this post

>>30004846
Imagine if someone forked bitcoin, but only with 21 coins and they are non-divisible.

If there's one or more of those 21 coins on an address, and you got the private key, you can prove that you own it (just like it's proven that you own bitcoin when you publish a transaction message to the network and the miners change the blockchain state)

If the coins are integrated in an online video game that interacts with the chain, you could make it part of the game and there could only be 21 people having coins over the whole game.

>>30005100
The boomer is wise, this is an actual ponzi doesn't mean you can't make money from it though

>>30005100
I agree with the anon that wrote this, that is one of many distinctions between a painting and an NFT. Especially this:
>A copy of an NFT contains 100% of the same artifacts that the original NFT has. Nothing is unique between a copied and original NFT.
That is 100% true. You cannot refute that.

>>30003573
how do I profit from this? afaik there's so many nft platforms and artists don't even have to use existing ones

>>30005222
Yes it's also trivial to generate NFT, while it's usually non-trivial to make art.

The NFT token merely represent ownership, but really only ownership of the token.
It's merely a collectable vaguely tied to the artists person, because the artist person is the one you gave money to initially...

If I buy an NFT with my crypto is it considered a crypto to crypto taxable event?

>>30004825
Real estate, notarizations, ticketing, decentralized DNS, supply chain management. NFTs have the potential to modernize a lot of boomer aspects of social life that have remained stagnant due to the difficulty of validating the authenticity of documents.
Do yourself a favour and don't let all the soys spending a year's salary on shitty artwork keep you from getting on the NFT train.

>>30006047
the jew always needs its cut

>>30004825
>a link that the buyer can change
>3D files in an AR/VR economy
>tickets

any chance she releases it on OGN like 3lau did?
Imagine Musk tweeting about OGN

i saw rappers talking about selling these and said oh boy heres another scam that no one remembers

>>30003573
what is that spirit cooking picture. Getting
>offering a chicken in the backyard to moloch
vibes

>>30005357
>because the artist person is the one you gave money to initially...
I guess that's all NFTs are good for, you can prove to others - I gave [insert ewhore/eceleb name] 100 ETH!

>>30003973
Except if you know how a copy and paste works, or screencapture, of course

so many brainlets who don’t know shit about NFTs chiming in with their retarded opinion. fuck off faggots, you sound like you’re from plebbit

>>30006922
>lick dick ID

>>30007995
just buy some bro, stop hating

>>30003665
there are some interesting theoretical uses (copyright/royalty payments) but the current trend of art is a pretty hilarious bubble
it's a mix of money laundering, people who saw inflated prices from money laundering and start wash trading their own NFTs hoping they'd land a whale, and retards who saw number go up and aped in

>>30004643
It would solve Pokemon's hacking problem too.

>>30003665
it makes sense for games, but just as collecting art yeah what the fuck

>>30003573
I dunno. NFTs as art might be bullshit. One thing I know is that people try to trade skins in CSGO or some shit by selling accounts etc. There's clearly a use for a system for selling the rights to a digital asset. But I think its silly to try and apply that to legacy art trading. If art NFTS do blow up I think it'll be something like an well known esports guy wears a unique skin for a season, wins some big tournament, and then sells the rights.

>>30003665
Na, Gary Gensler (current head of SEC Nominee) mentioned I'm his MIT Open Courseware that in his opinion, if Uber/AirBNB were started today (2018) it would've been done using block chain since. Both are other examples of NFT. Look into OGN anon. That's exactly what OGN is.

>>30003665
>>30008448
Christ almighty. Phone fagging rn, apologies for the autocorrect/trash grammar.

>>30008440
maybe it's just the evolution of human society, we're all online most of the time now anyway, maybe it makes more sense to flex by having a cryptographic hash than a painting hanging up in your room, as more people will see and recognize the former

>epic drop tomorrow

people are going to flex NFT's in the digital/VR world just like they flex lambos and millie's

>>30008257
>Start random encounter
>have to wait for fucking blockchain transaction
>10 minutes later, battle starts
>throw pokeball
>costs $130 for the gas fee
>wait 4 minutes
>fails transaction
>do it again
>finally goes through
>pokemon has shit IVs and nature with the worst ability

>>30003651
the most pointless part of the entire crypto ecosystem

So this is a massive sell signal, right? This is the crypto-kitties of our times.

>>30003651
It’s a digital ticket . Like for the movies. But assigned to your wallet like a plane ticket is assigned to your name

So how long before we get pajeets pulling NFT scams?

>>30003573
earth shattering now that it's moving into the celebrity sphere, collectables will never be the same

>>30005100
You've never seen a real painting up close, have you? When you stand in front of a great work of art and see its teeth it is a different experience. You can sense the depth of the piece reaching across time to you. The artist himself touched the canvas and made this masterpiece. Incredible.
With NFT's you don't get any of this. It's a retarded bubble. By all means waste your money on it, call me a boomer if you wish, it's not me who'll be bagholding a bunch of literally worthless jpg's. I look forward to making daily threads laughing at you retards in a few months as your precious JPG'S are reduced in value to little more than the mouse used to create them.

>>30003573
just bought a NFT waifu, she's called muni and she thinks you'll stay poor, faggot.

>>30009129
>right click
>save as
Lmao thanks bro.

>>30008721
Yes. These things are always a sign of the top because it means people have more money than they know what to do with.

>>30008976
They already have. See the cryptopunks and hashmasks "forks" on BSC.

Twitter is filled with leftards right now spreading scary facts about how minting nfts costs the same amount of energy as argentina which honestly makes no sense to me but you can't argue with retards when they're stuck on discourse of the week and sniffing for clout points with their fellow sudden enironmentalist pals that care about how much electricity things on the internet cost and saying it's destroying the planet. absolute retardation.

>>30003746
Except when this technology is fully realized it will be things like cars, houses, boats, etc.

>>30009082
Ok boomer dinosaur
You do realize millennials value digital over reality???

>>30009248
fap free, fren.

>>30008554
yeah I think what you're saying is definitely true for some. It seems like more and more people are devoting their free time/lives to digital spaces and online profiles. I think digital status symbols will grow in prominence but I'm not sure if early adopters of art NFTs right now will see the same payoff as early adopters of bitcoin if the underlying infrastructure changes radically

>>30009248
Kek-a-fucking-roonie
>no, anon, you don't really own that. I DO. See, here's a txid

>>30009377
Yes. You get it. Any coins you got your eye on in particular?

>>30009082
Someone spent time making that digital art too you bitch. I heard the same shit for crypto.. muh physical.

>>30009248
it’s more than just a picture, it also had a unique code

>>30009420
Do they? Would you like to show me statistical evidence? No? Or did you just pull that out of your arse. Let me ask you something, if I offered the average millenial (and I am one myself, 32 years old) an original painting by a long-dead famous artist, a Monet or Renoir or some shit, or an NFT of the same painting but digitised and guaranteed to be worth the same amount at least in the moment that they were given it, which do you think they would take?
I think they would take the original artwork, because it's a one-of-a-kind, unique, historically significant piece, and not some 1's and 0's.
How many NFT's do you have? How much did you spend on them? I would like to laugh at you and your impending destitution before I retire for the evening.

>>30009726
https://app.rarible.com/
stfu dino

>>30009726
>muh physical art is better

>>30003651
Digital trading cards essentially.

>>30009726
https://beincrypto.com/the-nft-boom-has-arrived-with-mainstream-adoption/
More than $200 million crypto collectibles were sold in the last seven days.

The inability of 4channers to grasp the value proposition of NFTs is hilarious to me. You really are all retarded.

You know you can copy/take a picture of/counterfeit/recreate physical art too, right? And that the value of physical art comes from being able to prove the origin and originality of it, right? Well that's precisely what NFTs excell at. Sure, someone can take a screenshot of the image your NFT holds but you are the only one who holds the original copy and you can easily prove that and exchange that proof, and that's all that matters.

And then there are all the uses outside of art for NFTs. E.g. deeds, concert tickets, etc.

>>30009420
>>30009818
>>30009932
coming soon ONLYFANS NFT collection

>>30009818
https://app.rarible.com/token/0xd07dc4262bcdbf85190c01c996b4c06a461d2430:186327:0x2ce780d7c743a57791b835a9d6f998b15bbba5a4

yeah I'm out

>>30009962
Lets be serious, its like 95% money laundering and a legal loophole thats going to be fixed, and when it is fixed, the value dumps. Feds said they were going after art money laundering like a few months ago, wonder why. Jews have done it for however many hundreds of years, suddenly now its gotta be stopped since goyim are into it.

>>30009420
>reality

>>30010060
nice midwit take

>>30009962
Digital art is 100% fungible, at best you're looking at commercial licensing use of an image. The other use-cases for NFTs are actually interesting though.

>>30003665
I think the recording and film industries are gonna like it once there is greater adoption because it will open up new revenue streams for them.

>>30009593
flare

>>30009618
I have sympathy for digital artists and I respect them. I understand their need to be paid, but that doesn't change the fact that this is a bubble. The point at which people are paying tens of thousands of dollars for something that can be reproduced for free with 2 clicks of the mouse is the moment a dangerous bubble has formed. The sad fact is that 99% of digital artists won't make any profit from this, they are being completely overshadowed by faggot celebrities like Grimes. The majority of profit is actually being made, as usual, by clever whales who get in early and dump at the top on the idiotic newfags who think they're going to get rich from a burgeoning, yet incredibly oversold, market for a new tech that is years away from properly maturing and finding its footing and true usefulness.

>>30009642
Who gives a fuck about the unique code? If I wanted to I could save everyone of these pictures from rarible and print them out and put them in my pad and do whatever else with them and to 99% of people it would be as if I had the code, or more likely they wouldn't even know there WAS a code to be had, because it's so fucking new that only the retards involved are aware of it. If somebody savvy came over and knew I had saved them from rarible the conversation would go something like this:
>haha nice, you have the latest Grimes NFT on your wall, sick, how much did you pay for it?
>Oh, I didn't I just stole it and printed it out, fuck paying a few eth for a fucking picture, amirite?
>lmao good point
And that would be that, and you fucking know it too. The only point of these things is for idiots who paid WAY over the odds to self-aggrandise their shit lives over how wealthy they are that they can pay gigantic sums of real fiat for something somebody else could copy and paste for nothing.
>>30009818
And what? Yeah it's a marketplace for con-artists to sell their shit art to idiots who have more money than sense.

Where can I buy nft's ?

>>30009962
I'm not sure about the use cases for deeds and concert tickets. It seems to me that the major benefit of blockchain comes from reducing trading overhead. Concert tickets are one use consumables and thus don't need to track ownership history. And deeds are traded so rarely that I dont see a huge market for instant deed transfers. I could be convinced otherwise though.

>>30010281
I don’t see how concert tickets would be a nft, or a house deed to me you’re using a DAPP to accomplish something. Maybe I’m misunderstanding the nomenclature but NFTs seem to be collectible bullshit not actual value propositions like dapps. Maybe my perspective of crypto is wrong though.

I look at btc, monero, xrp etc as “cryptocurrency” and my least favorite

Eth, Ada, dot, AVAX etc are “platforms” or DLT tokens

Fun, Uni, Req, are DAPPS

Then you have layer 2 stuff like OMG, oracle networks etc

I think assigning a piece of artwork to a blockchain is retarded. But that’s just me and I never claimed to know it all

>>30010281
Well, it's not anymore thanks to NFTs that's kinda the whole point and why they're a big deal.

>>30009932
>More than $200 million crypto collectibles were sold in the last seven days.
If it's just ETH ICO types making some use of their digital money they otherewise don't need, to get a token that might even be worth more, then I don't count that.

I actually really like Grimes music and I don't imagine any of her normie fans went through the hassle of finding out how to buy crypto and, even going beyond that, buying an NFT for north of $1k+ of their wage money on a 1 month old platform hooked to the Ethereum network.

If you bought 3000 ETH at ICO for $3000, then sure spending 50 ETH on some artists NFT is nothing to you

>>30010689
NFT just means non-fungible token, it has many applications outside of art/collectibles.

What's a good NFT related coin to hold for this trend? Origin Protocol?

>>30003915
IDs passports ect will be the next step for NFTs not these pseudo 'art'' pieces of crap

>>30003651
Digital trading cards.

Ok but how do I profit off this? (I'm not drawing shit)

>>30011334
Buy low, sell high.

>>30010689
The difference between fungible tokens and NFTs is that fungible tokens are equivalent units. Dollars bills are fungible because if you have 10 dollars you dont care what the serial number is since all 10 dollar bills are equivalent. NFTs are more like the keys to your car since they only work for your car.

>>30003984
>cannot be copied
dude everything on internet can be copied

>>30011061
ETH unironically

>>30011633
Cryptographic ownership can't be copied.
But yeah it's still retarded.
But then when you think about it longer, so is any sentamental attachment to stuff, like Picasso paintings.

>>30003665
Some NFTs are alright but digital art you can't do shit with other than print out is worthless. Some ideas for NFT like video game items, digital tickets and like this guy said >>30009377 when it becomes more mature

>>30011633
Sure you can copy it, but the token belongs to only one person that they can show off. It's like skins in video games. I can just download skins myself and install them, but what gets zoomers balls juiced is that people can see it in their inventory to show off.

>>30011061
>>30011712
yeah I agree. In theory the tokenized asset is going to be stuck on whatever chain it starts on. So the most bulling coin for NFTs will be for the chain with the most NFTs already on it. I guess wrapped assets on cross chains for NFTs are possible but until then its 100% ETH

>>30010433
When the fuck am I supposed to get my Flare from the airdrop?

>>30006167
this guy is correct

>>30004540
Thank you for not being a literal retard. I don't get why it is so hard for people to understand. No wonder so many people stay poor.

>gas fees

Ffs 60 bucks to upload an NFT

>>30012336
Use Origin DShop

>>30008691
>not using BSV

>>30012336
wait for other chains like KSM to support NFTs

my nigga

People are buying shitty fumcopops, magic and pokemon cards and think it's an investment so wtf do I know.
The idea is more interesting, but honestly the only good way it can have an impact if there's a "cyberpolice" which won't happen to for your OC do not steal.

I just bought a BAT limited edition NFT for £40 fucking bangers (plus £3 gas).

I'm ngmi am I biz bros?

>>30003651
You know how the Mona Lisa is worth millions but if you make an exact copy its not worth jack shit because its not the original? NFTs are that but digital, you can now own a piece of digital art and prove that you own the original. Sounds silly but people like collecting shit even if its digital. Theres already mad money being pumped into it.

>>30013122
yeah there's gonna be big money in this im sure, it only makes sense that its the future of art, physical art will always be the most valuable but i think digital everything is gonna be big.

>>30012783
He has a girl's name, your 'nigga' is a faggot

>>30013343
>Ariel Pink is a faggot
No shit

>>30013122
You know how a shitty jpeg isn't worth shit ?
Well, that, but with a hash.

>>30013653
This is his ex gf

>>30013722
basically that but fancy. Sounds silly for art but Imagine once there is an NFT trading card game with a capped global supply of cards and maybe new card packs being printed once every 4 years where you can use an open source protocol to battle people with your cards and maybe even make a smart contract where the winner of the match automatically gets transferred a card from the loser, now THAT shit is a billion dollar NFT.

>>30004643
That's actually not a terrible idea. MTG could issue NFT booster packs, limited editions

are yo makingtrying to talk about the income of erc20 coins? checked gas? such huge fees against Apollo's native blockchain, you fuckers

>>30006047
Yes, in the eyes of IRS the NFT is property with an assigned cost basis just like crypto

Do you like my jpeg?
https://uhnwc.art/053

>>30009248
rekt
>>30003573
There has to be some kind of tax loophole regarding 'art' with this shit. No one in their right mind is going to spend tens of thousands of dollars on some shitty drawing because it's on the block chain network

I am now unhappy with NFTs. I envision a blockchain id system where each individual is assigned a NFT at birth and uses it as a digital/legal representation of their person. Income is paid to your NFT, payments occur via your NFT, assets represented by NFTs are assigned to your NFT to designate ownership, and it is perfectly clear to all what you own if they have access to that network. There will be 0 privacy in the future.

Is there anything like this that exists and how do I invest?

I'll wait for Pokemon to release an NFT like the nbatopshot one

>>30003651
And you don't have to

>>30013122
checked and this is the best explanation

>>30015698
>053-Horizontal-Skyscrapers.png
>Do you like my jpeg?

>>30016070
Every living moment of your life will be tracked some years from now. Thats the mark of the beast

>>30014671
Just needs good licensed TCG to kickstart the madness.
>a smart contract where the winner of the match automatically gets transferred a card from the loser
Hnng, I might actually get back in TCGs if some madman tried this.

Buy ogn

>>30003791
is your art going up in price?

>>30018322
This.

Here is 3LAU talking to Paris Hilton about Origin Protocol and creating NFTs
https://youtu.be/F-Y8nqyWc64?t=2958

>>30016070
>Visa
>MasterCard
>AmEx

>>30009358
Electricity is Racism, just like Maths

You niggers don't understand NFTs at all. It's a content distribution model. You airdrop content onto token holders ala Patreon. Spoon feeding you here.

>>30019868
Grimes can drop any content on existing token holding addresses. The content could be tickets to exclusive content or a ticket to buy merch. Buy WAX.

>>30020040
Tokens can define contrnt tiers. Gold token can get different airdrops from silver token and diamond token grants access to purchase merch and resell.

>>30020175
Everyone using patreon or youtube ar any platform will switch to the nft distribution model next year. It's all airdrops.