The Twilight Mexican
Ex-SeeD-ingly good
- AKA
- TresDias
You're not alone. When I first heard of them, I literally said "This is literally the dumbest thing to ever come out of not just the Internet, but human society as a whole."
Square Enix's "Media Mix" Strategy
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looneymoon
they/them
- AKA
- Rishi
Feels Good Man (2020) is a good documentary that somewhat touches on Pepe NFTs if anyone is interested
Strangelove
AI Researcher
- AKA
- hitoshura
i read something on medium about how the vast majority of sales the author analysis in a specific week were between $0~100 (with $101~200 being the next highest), but even at the high end of that range selling an ntf for $100 ended up with a deficit for the artist of 0.50c. since i think to mint an nft you have to buy etherium or whatever its called?, plus fees, for a lot of people it's not really worth it unless you're already established or get lucky or are a meme
it sounds like bitcoin with all the talk of democratising things and lifting up the little guy and helping artists, but if you want to help the artist... just give them the money. why mess around with all this crypto bullshit when you can just give the artist actual money. take however much you would be spending on silly computer money and make a bank transfer. venmo them real money you can reliably use.
plus you might get something more than a token that's just a url to somewhere else. i will personally mail you a url printed on nice paper and that will be just as valuable (maybe more since you could at least write on the paper or something). you aren't getting the rights to an artwork or title deeds or anything with nfts, it's not a legal contract. you get an imgur link. i've seen it pitched as saying it's like owning an original of a painting, but it sounds more like you own a text file with the address to where the painting is but if you go there it might be gone. plus it's digital art, 'original' is meaningless when it can be endlessly replicated. you bought a big neon sign saying "i'm a big stupid baby who shouldn't have access to a bank account, or probably money laundering"
i remember trying to understand how a computer solving a puzzle to make a digital coin translated into that having any value and feeling dumb for not getting it, but now i'm pretty sure it's all a scam in one way or another
that medium article linked to something about people's ntfs disappearing, mainly following one guy who couldn't find what he bought in his wallet and when he finally did it was a broken image link. i almost want to make an ntf to sell and then just delete the file off the web. just do the digital equivalent of that banksy stunt with the shredder in the picture frame. but only after i get my money because if some rich asshole has more money than sense, i will relieve him of that burden
how many people who have spent hundreds of thousands on a gif ever made disparaging remarks about modern art being bad
it sounds like bitcoin with all the talk of democratising things and lifting up the little guy and helping artists, but if you want to help the artist... just give them the money. why mess around with all this crypto bullshit when you can just give the artist actual money. take however much you would be spending on silly computer money and make a bank transfer. venmo them real money you can reliably use.
plus you might get something more than a token that's just a url to somewhere else. i will personally mail you a url printed on nice paper and that will be just as valuable (maybe more since you could at least write on the paper or something). you aren't getting the rights to an artwork or title deeds or anything with nfts, it's not a legal contract. you get an imgur link. i've seen it pitched as saying it's like owning an original of a painting, but it sounds more like you own a text file with the address to where the painting is but if you go there it might be gone. plus it's digital art, 'original' is meaningless when it can be endlessly replicated. you bought a big neon sign saying "i'm a big stupid baby who shouldn't have access to a bank account, or probably money laundering"
i remember trying to understand how a computer solving a puzzle to make a digital coin translated into that having any value and feeling dumb for not getting it, but now i'm pretty sure it's all a scam in one way or another
that medium article linked to something about people's ntfs disappearing, mainly following one guy who couldn't find what he bought in his wallet and when he finally did it was a broken image link. i almost want to make an ntf to sell and then just delete the file off the web. just do the digital equivalent of that banksy stunt with the shredder in the picture frame. but only after i get my money because if some rich asshole has more money than sense, i will relieve him of that burden
how many people who have spent hundreds of thousands on a gif ever made disparaging remarks about modern art being bad
These were pretty much my exact reactions when I learned about NFTs. At first I just thought I couldn't wrap my head around the concept (I've always been wary of crypto but all the blockchain stuff always makes me feel kind of dumb), but then when I read more about it when it was making the rounds on art Twitter a month or so ago I found I did get it and it was completely, breathtakingly stupid.
The whole "it'll help unknown digital artists make money" thing is bs, since people are only going to buy NFTs from already established artists. Because it's not really about art at all. It's just a type of investment. You only buy one so you can sell it at a higher price, because you're not really getting anything out of it otherwise - the actual digital file can, of course, be endlessly viewed/replicated for free. While digital artists do not get to have an original to sell, which is admittedly a drawback to working digitally, they can still sell prints (limited or otherwise), offer commissions, etc, so NFTs are in no way "cutting out the middle man", they're adding one. Even setting aside the environmental issues with NFTs (which obviously shouldn't be ignored), they just seem very techbro pyramid scheme-y.
It also really sucks that it's extended to memes and the like. The commodification of internet culture is super depressing to me. I always thought it was kind of interesting how you could be the originator of a meme - a joke that gets spread across the world - but be a total nobody, but social media changed that a bit and now people are apparently paying actual money to "own" internet memes. Like this is comically on-the-nose late-stage capitalism dystopia stuff.
I was really hoping NFTs wouldn't catch on, but if corporations are getting in on them I guess they're here to stay? Ugh.
The Twilight Mexican
Ex-SeeD-ingly good
- AKA
- TresDias
Worse than that, they're a status symbol that you can't help but picture someone showing off to a guest audience futilely trying to convince themselves they're interested because they're supposed to be interested.
It's all very "The Emperor's New Clothes."
Or basically what you said here:
It's basically a self-paordy the actors don't even know they're starring in.
Tashasaurous
Tash for Short
- AKA
- Sailor Moon, Mini Moon, Hotaru, Cardcaptor Sakura, Meilin, Xion, Kairi, Aqua, Tifa, Aerith, Yuffie, Elena, Misty, May, Dawn, Casey, Fiona, Ellie
I hate to be the bearer of more bad news, but Sega's announced on their twitter account that they're going to do the same thing as Square Enix in selling NFTs this summer and both fans of the Sonic games and even the game artists are not happy about this either.
Khaoticnoize187
spookz
- AKA
- spookz
In other words its basically just milking milking and more milking.