acidburn wrote: ↑Fri Apr 15, 2022 5:11 am
If I could find a way to do it that wasn't just some dumb monkey or whatever MSpaint junk that is out there, and it had a real world component...I could be convinced otherwise.
You know man i watch you get vocal about it all and see the hatred on Twitter trying to get that engagement. Even with this reply its just full of negativity.
Then I see this line and realize you have absolutely no clue what you're talking about or what you can do with this market and just want hate on something because its easy to.
There is a whole other area beyond avatars that caters to limited pieces whether it's 1/1s or small editions by really talented artists where collectors just buy and hold because they enjoy it. Also, a whole other market that allows you to claim for physical items. Even the MS monkey you're hating on just allowed you to get a physical limited toy yesterday. There is definitely a way to combine both markets. Tristan Eaton just killed it with his whole project and burn.
And then this...
But the market is much too young, and full of scams, so I'm sitting it out.
So how about you be the knight in shining armor for this market and not be a scam? Instead of waiting for the market to actually grow where EVERYONE Is doing it, you be a pioneer of something and do it right (according to you) instead of actually catching up to it.
Want to add too that I don't really care if you get into NFTs or not and know many think its extremely stupid (which i respect) but at least know what the stuff you're hating on daily is,
I actually have been doing a lot of research into the market. My main issue is the blockchains/ currencies that most the NFT markets are based on, run on proof of work, rather than proof of stake. If you could build a financial ecosystem based on...literally whatever you wanted to- burning fossil fuels to get there is backwards thinking, and the opposite of what any 'futurist' should want. The volatility of the transaction fees, and the currencies themselves show that, at least for now, they are in no position to be a 'real' currency- just an investment vehicle (at best) and a pyramid scheme at worst.
And yes- I know that there are projects where you can get physical objects. I am currently fascinated by the 'shoe vault' where you aren't actually trading Jpgs of shoes- you're trading ownership of shoes that are locked away in a vault somewhere, that you could exchange for the physical shoe, if you wished. I'm even MORE interested in the Nike lawsuit, because do they actually have a claim? Could they stop the sale of NFT's of their shoes, as long as they're linked to physical copies? What's different between the token standing for ownership of a a physical object and a receipt? That's real 'rubber meeting the road' right there.
For me, I sell physical prints all day long. I love it. I don't do strictly limited prints- I do subsequent editions. Is there room for an NFT component in that business model? Sure- but what do I gain, vs. what do I lose?
It is a fascinating world, with severe problems and scams running through it constantly.
I do think that the video essay "Line Goes Up" does a fantastic job of laying out all the fundamental issues with the structure of the exchanges, wallets, currencies, etc.
At the same time it doesn't rule out the possibility of a future where it CAN work.
The problem is that with Bitcoin and ETH being the standard right now- there's no motivation to change. The big boys are invested too deeply in currencies that are based on an untenable model (proof of work) and if they pull out, it could cause a systemic collapse- a 'run on the bank' as it were. And that could very well be the end of this whole crypto experiment- it would expose the 'greater fool' fallacy that the entire system is built on.
So while I would never say I 'completely understand' any aspect of Crypto and NFT's- to claim that I don't know what I'm talking about at all...isn't entirely true, either.