[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 62 KB, 976x850, _91408619_55df76d5-2245-41c1-8031-07a4da3f313f.jpg [View same] [iqdb] [saucenao] [google]
30192054 No.30192054 [Reply] [Original]

nft's make me feel like a fucking boomer

>> No.30192270

There are good use cases for them, but the whole art thing is retarded.

I could see them be valuable for games. You could create a Pokemon Go type augmented reality game using tradeable NFTs, if that gained mainstream adoption ETH would go to $10k overnight

>> No.30192572

>>30192270
Failed illustrator here. Not so fast. This would be a good new system for copyright and ownership. You can have an entire system of documentation and payment.

I'm not so sure how it would work. But you can maybe have something where the artist is paid a small royalty for every legal reuse/publication of a piece of art. If the fees of the NFT were cheap enough. It would be pretty awesome.

>> No.30192789
File: 6 KB, 229x220, 1532445870890s.jpg [View same] [iqdb] [saucenao] [google]
30192789

>>30192270
>you caught a niggermon!
>please pay $100 in gas to commit this pokefag into your block-e-dex

>> No.30192792

>>30192572
For protection; every time a piece of art is reposted online. The bill is sent to a webhost in which it appears.

Artwork isn't supposed to be free just because google images exists. It just happens to be a medium that's easier to download and copy.

Think about how many times you look up a sauce for a bigtiddy anime girl and over 100 images are found in various languages. Those are all stolen from an artist. It's just that we've gotten used to it.

>> No.30192811

A millennial should still understand NFTs, unless you never played tf2 you casual

>> No.30192842

>>30192811
Kek this is actually a good explanation

>> No.30192864

Urbit is the only NFT with real world value beyond "I can flip this to someone else"

>> No.30192886

>>30192054
this is just another useless toy for rich niggas like cryptokitties

>> No.30192890

>>30192572
>>30192792
This guy gets it. Congrats on not being a midwit.

>> No.30192936

>>30192789
this. It can't be based on ethereum

In my dealings with NFTs at least 50% of my expenses have been on its gas fees. I invested about $200 to learn the lesson that ethereum is BROKEN.

>> No.30192981

>>30192789
Right so I don't know if I made it clear. But the NFT would be on a cheaper L2 chain. So something like matic where it costs .00001 cent to do quick exchanges. That's a godsend for commission transactions. Something like 5-10 cents per re-upload isn't unreasonable.

Just be a little more optimistic about it.

>> No.30192987

>>30192054
Nfts make me feel like the globohomo nigger kikes that avoid taxes with bullshit meaningless "art" that /biz/ supposedly hates so much. almost like crypto is inherently bluepilled garbage.

>> No.30193011

>>30192789
>>30192936
aavegotchi runs fine on matic, fees are basically zero

>> No.30193068

so what do I buy to ride the NFT moon rocket?

>> No.30193129

$DGCL digicol.io - mainnet launches in 3 weeks. $8m mc, slam it

>> No.30193168

Retards buying jpegs is not a new thing.

Retards paying $100 per transaction for the privilege of buying jpegs is new.

NFTs are a solution to a problem for a system that doesn't exist yet. If there is ever universal copyright detection and enforcement, NFTs will be used to control what you can and can't see. Still doesn't change the fact that changing one pixel alters the hash, so piracy is always going to be there.

>> No.30193236

>>30192792
This is good but whoever owns the NFT should own rights to the artwork be it used in other things. Is this the case?

>> No.30193289

>>30193168
There's nothing novel or especially retarded about limited supply trading cards, actually.

Just avoid the inevitable scam sites you find in the super early days of something new. Like Rarible.

>> No.30193384

>>30193168
Correct. But google reverse image search, tineye, etc. Do a good job at finding close to the original. You can have a batch of art that can detect those anomalies.

Also there are some laws that could protect memes. Like the famous story about the art that copied the Mona Lisa but added a mustache to the image. This is supposed to be like spoof/parody.

>> No.30193430

>>30192936
That's why we have MUSE

>> No.30193465

>>30193236
Exactly. But if it's something like a commission or an auction; there could be further smart contracts that could pay a royalty to the original artist upon a sale.

>> No.30193511

>>30193168
The "real" art/item would still be linked to the owner of the wallet and there would be a way of confirming this.

Midwits genuinely cant grasp the concept of NFTs and its a bit cringe.

If you go and take a pic of the Mona Lisa and print it out and stick it on your wall, or even if you get someone else to draw the Mona Lisa and they make it look 99% like the original then you still do not own the Mona Lisa.

>> No.30193606

>>30192054
>obvious blockchain use cases like supply chain tracking/validation, voting, chain of custody on house deeds, etc. ignored by normies and normie corporations
>instead it's used to shill $5 million+ digital art money laundering schemes by multi-millionaires/multi-billionaires
>nft of a nigger smoking a blunt sells for 30+ ETH
i hate normies. they truly deserve everything they get. ACCELERATE.

>> No.30193640

>>30192054
no that just means you're a zoomer faggot who wasn't even here for cryptokitties

>> No.30193746

>>30193511
For the love of God, you shills need to stop using the Mona Lisa example. Copying a physical painting, that's also an historical artifact which can't be reproduced perfectly, is not the same as copying a digital image which is trivial to reproduce 100%. There are good uses for NFT, and the stuff about artists getting credit, copyright, etc. makes sense. But comparing a jpg to the Mona Lisa is retarded. At least use another painting as an example to mix up the shilling.

>> No.30193751

>>30193511
>Midwits genuinely cant grasp

midwits like you genuinely can't grasp that non-fungibility on the blockchain is meaningless when 1:1 exact, lossless, hash-complete copies can be made. it's bread and circuses for normies, part of some bigger jewish scheme (money laundering.)

>> No.30193774

>>30193606
> he thinks supply chain is a valid blockchain usecase

Anon I...

>> No.30193811

>>30192792
>Think about how many times you look up a sauce for a bigtiddy anime girl and over 100 images are found in various languages. Those are all stolen from an artist. It's just that we've gotten used to it.
Maybe it's better this way. Also, how do you prevent other people from uploading your work as an NFT and claiming it for themselves?

>> No.30193833

>>30193746
there will never be an apt comparison between physical and digital realms. mona lisa is valuable because it exists in the physical world. it is not fungible. creating a copy in the digital world is as simple as copy and paste. digital is inherently fungible.

>> No.30193890

>>30193833
I agree. For some reason though NFT shills have made the Mona Lisa part of their standard response, despite the example not working.

>> No.30193906

>>30192054
Why though? They were present ever since crypto kitties. Unless you are actually a zoom zoom and can't remember.

>> No.30193956

The real use case is in game items, which is why enjin is mooning right now. If I find the sword of the dragons asshole, and the boots of buttfucking, which are unique legendary items, I can sell them to someone else and they can equip and use them in game.

>> No.30194027

>>30193956
Does that make the games better though, or just more profitable for some people? Could be cool to have items shared across games or something using NFTs, but just using it as a way to create a market for items sounds bad. MMOs generally try to curb real money trading for a reason.

>> No.30194048

>>30193833


Imagine if Nike had an exclusive event that only people who held the latest air jordan nfts could attend, where they got access to the next big release of air jordans.

The missing piece is the real world companies giving legitimacy to these nfts, and gating rewards and exclusive content behind owning them.

The second that happens shit will pop off even more, and then nfts for physical goods are a real thing... Pardon the pun...

>> No.30194056

>>30193811
This is still very unpolished, but the bill would be sent to the webhost or servicer. I understand how retarded and irrational it would be to go after individuals. But some one will be legally required to pay for the re-upload. 5-20 cents for a royalty fee isn't bad though.

>> No.30194057

>>30193890
the only reasonable argument would be a cope about normies ignorantly investing in blockchain technology through NFTs, because that's what they're doing. the "product," these shitty NFTs, are just a novelty scam to get them in the door.

nigger cattle and their money, i suppose.

>> No.30194171

>>30194048
>Imagine if Nike had an exclusive event that only people who held the latest air jordan nfts...
i am not a nigger nor do i possess a niggerbrain. i am sorry, but i cannot even entertain such niggerish thoughts.

also your hypothetical is flawed. normies are physical creatures. this is why niggers buy flashy nigger shoes. they would rather buy an exclusive pair of nigger shoes that grant them admittance to some nigger shoe exposition, and not buy an exclusive nigger shoe NFT which exists only in the blockchain, that cannot be physically admired, touched, held, etc.

>> No.30194195

>>30193890
I used the Mona Lisa in my example but specifically because of the Duchamp controversy. I think my example is in relationship to what institutes plagerism vs making a funny meme. I think we decided that Duchamp was making a funny meme.

>> No.30194264

>>30194048
Yeah I could see using them like tickets for events and stuff. Somebody mentioned using them as subscriptions, where if you own the artist's NFT you'd get exclusive art airdropped to you. Kind of a replacement for Patreon and sites like that.
>>30194195
No worries, your example wasn't what I was referring to and works fine.

>> No.30194722

All the ideas are making me wish I could help build this NFT industry. I was laughing to myself at the idea of talking to someone like beeple and telling him about NFTs. Only to find he already knew about them and made a huge sale of his work. And providing one of the best examples about how to go above and beyond when bringing value. Silly me. Of course he knew about it, he has tens of millions of fans.

But I can't believe an asshole like Gary Vaynerchuck knew about NFTs before me. And is shilling them the wrong way.

Like I gotta fix this shit. But how.

>> No.30194822

>>30194171
The point you dumbfuck edgelords don't get is normies are already into this.

Your fudding is useless at this point, don't you get it?

The idea now is to figure out how to make moneys off the normies.

Why do I even need to spell this out for you...

>> No.30194874

>>30192811
Wrong. You can't copy and paste tf2 hats and CS:GO knife skins into your game
NFTs would only work for places where there's a check of authenticity. Owning a grotesque kitten picture for 800k USD without being able to display it and rub it in everyone's face has no point

>> No.30195111

>>30194874
I would absolutely love something like an exclusive NFT published by Bill Watterson. Even if I couldn't display it. I am a fan of Bill Watterson and this would be nice to own.

>> No.30195275

>>30194822
>The idea now is to figure out how to make moneys off the normies.

i had the same thought and arrived to the conclusion that we (autistic basement dwellers on a burmese finger painting BBS) can't. it's all about social clout. autistic nerd selling NFTs means nothing. ugly used up roastie wife of the world's richest man using her status to sell shitty artwork NFTs = several million in sales in the matter of days.

>> No.30195509

>>30195275
This is going to go beyond art, it will get bigger in the video game side too.

Check out efinity

Check out lukso, they already just recently did something nft related for a recent fashion event, that's why it pumped.

The key isn't to sell the stuff on the market, it's to accumulate the right tokens

>> No.30195800
File: 212 KB, 1280x960, IMG-20210304-WA0014.jpg [View same] [iqdb] [saucenao] [google]
30195800

>>30195111
I doubt Bill does exclusives.
But you do know you can just buy his books, right?
I got this one as a gift when I was like 12-13 and have it to this day. It's very comfy. Tenth Anniversary Book.

>> No.30196111

the non block chain equivalent of nft's have existed in vidya for over a decade. If you attend a dota 2 tournament you can buy irl doodads that include a redemption code for in game items. Sometimes these items are unique to tournament attendees and sometimes they aren't, but items redeemed via the code are denoted as "genuine" quality. The always online nature of the game and robust item economy means its basically impossible to copy these items and use them in game.

idk nft's are a pretty hard sell for me. I think you need an ecosystem for them to be "used" in for the value to materialize. For the extremely rare items in Dota the value comes purely from being able to use them in game and show it off to other players. So it's obvious that we don't need a blockchain solution to create unique digital items. If and when you create an ecosystem for NFT's to be used in the blockchain nature will add a frustrating amount of friction.

The one thing the blockchain adds is extremely secure way of ensuring your items are genuine. But if you don't have robust ways of using the item the value won't materialize and people won't want them.

>> No.30196229

>>30196111
Now imagine if those super rare items are resellable by the player, it's impossible to scam since there is a third party smart contract to ensure the sale is legit, and valve gets a slice of the sale

>> No.30196365

>>30196111
Also now imagine that not only are they rare, but they are numbered. You hold the first minted item, and it's visible to anyone that it was the first.

Now imagine valve comes out with a new ip, and since you own that nft you can use it also in this second game

>> No.30196391

>>30192054
NFT is a content distribution protocol. It uses airdrops to deliver content to existing token holders. Do not buy NFT art scams. Buy the tokens for the protocols only. WAX and others.

>> No.30196400

>>30196229

already has existed for over a decade without blockchain tech. Valve has been tightening (and then loosening) restrictions on selling items over the years but for the most part you can buy or sell anything. Again I think blockchain adds more security to it but it also adds a frustrating amount of friction and will require an always online ecosystem just like we currently have.

>> No.30196581

>>30196400
I agree it's already existed but these could be frameworks games add that take care of it all for them.

So valve adds efinity capabilities to their infra and now all of their games can make use of nfts and their DB devs don't have to worry about incorporating it into yet another game.

Also I think nfts are going to change how real the ownership of an item is. If you get your account banned you lose your mtx's, but what about nfts? Those could live independent of the game in question, and that games account.

>> No.30196619

>>30196365

serial numbers would be cool, but why blockchain, why nft's?

>Now imagine valve comes out with a new ip, and since you own that nft you can use it also in this second game

entirely contingent upon them implementing that. If this example NFT is something like an in game cosmetic I can think of a number of reasons they would rather implement new and different items. Why let you move your nft over when they can sell you more hats?

>> No.30196741

>>30192054
I can see them being used for house ownership, art held in custody of some warehouse and such.

>> No.30196781

>>30193833
Do zoomers and third-worlders even know what fungible means? A bar of gold is fungible because you can cut it in half to trade part of it. A dollar is fungible because it can be subdivided into cents. A NFT is not fungible because you can't split it up.

The word you're looking for is reproducible.

>> No.30196860
File: 692 KB, 1808x1204, pink 28.jpg [View same] [iqdb] [saucenao] [google]
30196860

TELL ME WHAT TO BUY TO PROFIT OFF THIS NFT HYPE RIGHT NOW OR I'LL FUCKING KILL YOU

>> No.30196870

>>30196781
Fungible doesn't mean divisible retard. Fungible means different bars are interchangeable because every piece of gold is worth as much as every other piece of gold as long as they're the same weight and purity.

>> No.30196877

>>30196581

>Those could live independent of the game in question, and that games account.

Thats the problem though their value is derived from the ecosystem they are used in. The millions of dollars spent on dota 2 hats will be completely valueless in 100 years. I can imagine a situation where NFT's could retain value for super long term, like in 100 years if you own an original dota hat it could be worth something.

>> No.30196917

>>30196619

Hey I'm the same guy just on my pc now.

> serial numbers would be cool, but why blockchain, why nft's?

Consensus. You wouldn't have rollbacks if a call didn't make it to the db in time to register the trade from one use to another. It would be impossible to dupe or mess with the item in any way, since n-number of nodes on the network would need to reach consensus for it to be legit.

>> No.30197033

If you make 999 copies of an nft at minting, how does that work with gas fees? If you pay what metamask asks for and the transaction is successful, is that it done? Or will it require gas for 999 times or something

>> No.30197052
File: 122 KB, 407x407, 1517700678864.jpg [View same] [iqdb] [saucenao] [google]
30197052

>>30196619

And desu I like having these discussions, it just helps establish if there is some real legitimacy instead of talking to the voice in my head.

Wish there was like a disco or telegram to just discuss this shit and plan around it on how to make money...

>> No.30197205

>>30196741
>home ownership
Wait, fuck, decentralized deeds. Deeds without government.

Who gives a shit about NFTs for art? That's a building block for a legal system.

>> No.30197267

>>30192054
Thats because currently theyre still just an interesting concept. If theres ever gonna be a successful actually used NFT it wont be fucking ENJ I can tell that much.

>> No.30197328

>>30197052

>Consensus. You wouldn't have rollbacks if a call didn't make it to the db in time to register the trade from one use to another. It would be impossible to dupe or mess with the item in any way, since n-number of nodes on the network would need to reach consensus for it to be legit.

this is essentially impossible already. No doubt valve does a lot of work behind the scenes to make that the case but it is a non-issue. I completely agree the blockchain adds more security but it also adds friction and in games especially people hate friction.

>And desu I like having these discussions, it just helps establish if there is some real legitimacy instead of talking to the voice in my head.

Yeah I'm not trying to fud here, if the end goal is to profit off normies then godspeed I'm just saying I'm not sold on it personally. I'm thinking NFT's will soar in the short term and probably crash pretty hard like ICO's

>> No.30197392

>>30192054
dude they are just digital deeds
they can prove 'unique' or individual ownership
you can use it for dumb shit like owning 'meaningless' stuff like digital art, or as a substitute for a bunch of legal shit when it comes to something like owning a house. if you were to simplify everything that goes into title and deed and legally/contractually owning land into a format that could work with blockchains, it would be in the form of an NFT

>> No.30197482

>>30192572
there doesn't need to be a separate shitcoin. I can deploy an NFT ownership smart contract in a day. The token bullshit is just classic pump and dump and the people paying for this shit are money laundering.

>> No.30197721

>>30197328

I think this art bullshit is not the best use of these NFTs.

I think there is plenty of area for them to take off in the video game space, especially for companies that want unique tradeable items in their game but don't have the manpower or knowhow to build something bulletproof. Once stuff like efinity gets established then they can just strap the connections into their ecosystem and use that instead.

I think there are plenty of places where these can be used for exclusive access to things, like fashion events and clothes and shit.

I think the REAL juicy uses come when you have real-estate and property ownership backed by NFTs.

When GET protocol either takes down ticket master or is acquired by them, and crazy scalping is no longer an issue.

Or like what Mark Cuban talked about recently with CZ, the college textbook marketplace.

Imagine the largest textbook seller digitizing their books, and now reselling books once your done with them is no longer at a brick and mortar place, you get legitimate prices for your books when reselling, AND the publisher, distributor all automatically get a slice off that sale.

Those are all in some way going to happen in the future. The key is how can we profit off of this. The mere fact that we know of this tech puts us miles ahead of normies, we just need to find the right projects to back.

>> No.30198488

>>30197721
https://www.ledgerinsights.com/real-estate-title-insurance-blockchain-launched-by-first-american/
someone did this. Illinois I think.

>> No.30198705

>>30198488
Nice find anon

These are not going away. You will see this NFT concept appearing in a lot of new spaces.

Biz is obsessed with fudding it instead of actually focusing on making money from normies.

It's made me quite disappointed lately

>> No.30198985

>>30198705
people have been doing this for a while. remember kitties? remove your linebreaks if you want to fit in here.

>> No.30199228

>>30193236
What happens to someone who steals art from a real artist on twitter and sells its rights despite not owning them?
Wouldn't this completely invalidate the system?
Also copyright is mostly theft and an attempt to gain monopolistic power over the market by making it difficult to do something without triggering it.
It's completely the opposite of what crypto should be.

>> No.30199495

>>30192054
>buying digital art
Are they really that retarded?

>> No.30199597

>>30198985
>>remove your linebreaks if you wants to fit in here.

This is why /biz is the way it is. You guys never want anyone else to make it. You guys love the misery and just to be the super contrarian. This is why you all missed out GME run up while WSB made it.

Ain't nobody trying to fit it but you. We are trying to make money.

>> No.30199779

>>30193068
OMI

>> No.30200211

>>30193068
Seedswap.io still super early stage but liquidity providers will eventually be able to get NFT’s at a discounted rate.

>> No.30200333

>>30199495
They are!

Its only logical use is money laundering & tax avoidance.

>> No.30201722

Nfts dony make as much sense right now because the world isn't running in smart contracts YET. Give it a decade

>> No.30201939

>>30192987
if crypto is bluepilled what is redpilled?

>> No.30202346

>>30194822
>The idea now is to figure out how to make moneys off the normies.
become an artfag

>> No.30202401

>>30194056
Nobody is going to pay that much to upload. Maybe 5/100th of a cent for an upload... But the idea is solid. This could either be the ground floor of licensing for digital goods, or a money laundering scheme disguised as a fad.

>> No.30202415

>>30194722
first stop talking to your idols in your head

>> No.30202672

>>30192270
Anon NFTs are going to be the medium through which artists are able to collect endless royalties.

>> No.30202724
File: 30 KB, 316x202, 1593721194753.jpg [View same] [iqdb] [saucenao] [google]
30202724

>>30199597
remove the linebreaks anon.

>> No.30202814

>>30192792
Fuck off, not gonna pay those idiots for anything

>> No.30203171
File: 91 KB, 1198x552, businesscryptopunk.jpg [View same] [iqdb] [saucenao] [google]
30203171

>>30192270
I agree, but it's strange. I would never buy a CryptoPunk. It has no value in comparison to real art, but then again the market says differently. I want to see where this leads to 10 years from now.

>> No.30203505

>>30194056
>bill
>legally
The state is irrelevant it cant decide to tie its own shoes without 6 weeks of deliberation. How do you put into code a way to force outside actors who copy/paste your artwork to compensate you?

>> No.30203571

>>30193606
this basically, normies are cattle, literally cattle. it's why I feel good about myself when I take their money in crypto, not because I am making money, but because they are losing it

>> No.30203814

>>30194822
We are saying its an obvious pump and dump by outsiders who see $$$ signs radiating from the crypto market and want in on it without fully understanding why people value what they do in this market.

>The idea now is to figure out how to make moneys off the normies.
See, you just admitted it. Ride the pump., gloat and troll, get dumped one night at 3am, and shut the fuck up about it. Remember this post.

>> No.30204510

just put up one of my songs for sale on opensea. took 5 minutes. pretty crazy shit lol