Did anyone here ever buy an NFT? If so, what have your experiences been?
People are being arrested and having criminal fraud cases being brought against them as we speak, you well informed individual. Look it up.
is that your research?
That's why I said the "NFT space", genius. The space being where the scams occur.
🤯
its emerging tech - obviously theres glaring loopholes. though I wonder - do you complain about musicians getting **** all for the music spotify listeners only spend a tenner on?
Regardless - the concept of making a digital creation into an individual item is a massive step forward, regardless of how the conmen are running the market at present.
Rome wasnt built in a day, and its a perfect solution for new material - NFT it the minute you create it and its virtually copywrit from day 1
It means the argument that it protects artists or is good for art/digital media falls down when anyone can mint someone else's work as an NFT and profit off their work without their permission. It doesn't make it more secure, it just leaves it open to different forms of stealing, and gives those shady **** more avenues to steal other people's works and profit from them. And if existing copyright, digital protection etc laws cover those thefts, then they also already cover non-NFT thefts.
Therefore, one of the biggest selling points of NFTs (digital copyright protection) is actually completely redundant.
In other NFT news, Ubisoft, a game developer who introduced NFTs to one of their games (Ghost Recon Breakpoint), has announced they're ending support for the game. Which means those NFTs are essentially worthless. They thanked people who bought the NFTs and claimed they now "owned a part of the game forever" or some such nonsense.
or like Damien Hirst's diamond skull? Thanks for proving the point for me - art has always been that way.
define art?
You have art, which people download for free and the creators make no money from, or you have art that people buying it define the value of. Time is usually what determines which were good bets and which weren't. Im sure theres plenty who think banksey's a vandal.
you have done the research though obviously, yes? Please share and educate.
As Ive already said, blame people for scams. not the idea of an NFT.
Havent you answered your own question?
"sell NFTs of artists using their names, images and album art for which it had not obtained the rights, nor even attempted." Thats called stealing and they rightfully got caught at it. The problem there is the shady **** doing the stealing and selling - not the concept of an NFT
What's a NFT, is that the same as the GFT: Glasgow Film Theatre?
How much will the digital NAMA cost the rest of us?
I play a property trading game and have invested a sum total of €10 in the game so far. I "own" 4 properties, 3 in LA and 1 in NY. Recently, someone wanted to buy my NY property from me for about €100. I am sitting on it a while longer as there are infinite properties available and if the game takes off I will have a great asset. If it doesn't, I spent a tenner.
The thing about NFTs, is that because they're on the Blockchain, they're completely safe and secure. Absolutely secure.
I've actually decided to invest in two NFT projects, one is actually Irish so happy out about that.
OP, take a look at this if you've a spare 140 mins, it is a must watch documentary on the problem with NFT's and crypto in general :)
Got a free one from crypto.com and sold it to some mug for $10
There's a reason why people are pushing crypto and NFTs (and there are a lot of TV ads in America for crypto, even some starring Matt Damon) so hard. It's because they need new investors to create a new bottom layer, so that money will be passed up to higher layers.
The only reason groups like that spend so much money on advertising is because they know they'll make more money back from new investors.
https://xkcd.com/2030/
That's the lovely thing about the blockchain, there's lots of them to choose from. Each image can be used to produce a unique NFT per blockchains.
The ledger size is going to increase rapidly, with estimates of it each 6.5 TB by Jan 2023. It will bring in the need to buy harder disk space to participate in the network. It's getting bigger, faster than hard drives are. There are scaling issues by they can be solved by cartels.
Nothing about blockchain or NFT's is scalable to 7 or 8 billion people using it for a sizeable number of transactions directly at a reasonable cost.
Are they on the block chain, thought? Supposedly it costs a lot of money to store things on the blockchain, and high fees is supposed to be a sign if something really is o the blockchain. Is anyone familiar with the workings of the blockchain?
You don't even have the marriage cert, you only have a photograph of it.
You can prove that the photo is genuine but you can't prove the marriage cert is genuine.
And you can't prove your photo is any better than anyone else's photo of that piece of paper.
If you had a piece of paper you could at least wipe your arse with it.
I bought one for about a tenner, not really sure why, sheer curiosity of the process mainly.
I mainly think it’s a novelty but part of me does appreciate the idea of what value is. If enough people agree something is valuable then it is.
Why is a replica of a classic piece of part, I mean a replica that was hand painted and made perfectly to be the same as the original, worth so little compare to the original. What’s the difference, intrinsically they both are just as valuable and as much craft and effort was put into each one, yet the original one can be worth millions more simply because we say so.
I guess the problem with NFTs and Crypto is they are trying to imitate that same idea, but you cannot force value for the sake of value. Those paintings became valuable by themselves. Plus having nothing physically to show for something also sucks.
When you’ve lads telling you to get in now at the bottom then you know that a) it’s a pyramid scheme b) it’s definitely not the bottom.
Like the crypto boom of 2017 the vast majority of “investors” will lose money. Criminals, insiders, and some online shills make the real money and then sell worthless crap to gombeens thinking they are going to get rich.
A fool and his money and all that.
The money being made by people on these things is insane at the moment. As someone said above, getting in now and you’re getting in at the bottom.
As with most of these things, especially the crypto scene, if you’re not first you’re last. I work with a woman who’s husband is a self proclaimed “crypto trader”. In reality, he bought Bitcoin last year just before the big surge. He made a few quid and instead of getting out, he went harder. He tied up more or less all their money in it. Last I heard from her on it he’s expanding his portfolio. In other words, he’s fuckèd and is throwing money into other coins gambling trying to get his money back because he’s in the **** having bought bitcoin at €55,000 a coin.
How are random computer generated pictures good for art ?
Source code here : https://github.com/larvalabs/cryptopunks , a slight change in the colour of one pixel is all you need to create a new version. A 1980's home computer with 0.016Mb of memory could churn out these pictures too fast to see.
Here's the old way of doing it :
'Good thing for art' my arse. It's about as 'good for art' as that f**king 'messy bed' concoction that was made back in 1998 and sold for 5 million pounds, that absolutely nobody today gives a fiddlers twat about.
You don't know what you're talking about if you think it's good for art and music. You haven't done even the most basic research.
Right now, the NFT space is a scam. People buying URLs and pretending they own rights to things when they don't own anything. And the artist gets **** all because most of them don't realize their work is being "sold".
Scam.
"Imagine you have a wife and your wife is getting drilled by everyone and you can't do sh*t.
But you have the marriage certificate. That's the NFT."
How? There are NFTs of art and music being minted by the people who didn't create them. I saw one group online who were selling NFTs of songs/albums from different bands/singers, and half the replies on Twitter were from the actual musicians saying they never gave permission for their work to be made or sold as NFTs.
Found an article on it:
There is no oversight, no real comeback other than trying to create public pressure over it, not for smaller artists who don't have the ability or means to hire lawyers. The marketplace companies are apparently quite slow to react and take down, if at all.
There are already existing copyright laws. NFTs don't solve that problem, if anything they're creating more problems.
NFT's should be pretty amazing over the next few years. those who think its a scam or a pyramid scheme (jaysus) - pretty sure you'll find people minting NFTS that wouldnt be worth the cost of minting them as much as there'll be idiots with more money than sense buying everything hoping they'll make money.
Regardless, its a good thing for art and music in the digital space.
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