Yusuke Hanai NFT launch
- HelloExactly
- Art Expert
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- Joined: Sat Apr 16, 2011 2:13 pm
If NFT's are about art. why do all NFT artists include a smart contract that pays royalties on every sale? If the NFT was about art, why bake that provision in? If it ISN'T about money, lets see some NFT with no smart contract. Oh look, there's none.
Wait till you hear about the free cool pet I just got. You’re going to get so mad at me
- ygolohcysp
- Art Expert
- Posts: 2627
- Joined: Wed Jun 04, 2014 12:57 pm
Art is about money. What don't you get yet?HelloExactly wrote: ↑Mon Jan 31, 2022 6:31 pmIf NFT's are about art. why do all NFT artists include a smart contract that pays royalties on every sale? If the NFT was about art, why bake that provision in? If it ISN'T about money, lets see some NFT with no smart contract. Oh look, there's none.
No one is doing any of this for their health, it's a business and the artists hold the means of production. Everyone else is cashing in on their talent. Of course royalties should be baked in. GTFO
Yea not sure how it’s different then music? Musicians get paid when a song is played. Why can’t get an artist get paid if their work is being sold?
Also, I don’t think it’s in the US but in the UK artists get a % from auction houses over a certain amount. So anytime a buyer sells a Banksy, he gets a %. This is just a more universal version of that
ARTIST’S RESALE RIGHT
If you sell a work of art by a living artist or an artist who has died in the last 70 years, which costs more than the UK sterling equivalent of €1,000 (per item), the seller will have to pay a royalty relating to the Artists Resale Right Regulations 2006. The royalties are administered by the Design and Artists Copyright Society (DACS), or the Artist’s Collecting Society (ACS), and no handling costs are retained by PFAA Ltd.
The current royalty charge for qualifying items over €1,000 are:
Up to €50,000 – 4%
€50,000.01 to €200,000 – 3%
€200,000.01 to €350,000 – 1%
€350,000.01 to €500,000 – 0.5%
Exceeding €500,000 – 0.25%
Royalty charges are calculated using the Euro to UK sterling exchange rate on the day of the sale.
Also, I don’t think it’s in the US but in the UK artists get a % from auction houses over a certain amount. So anytime a buyer sells a Banksy, he gets a %. This is just a more universal version of that
ARTIST’S RESALE RIGHT
If you sell a work of art by a living artist or an artist who has died in the last 70 years, which costs more than the UK sterling equivalent of €1,000 (per item), the seller will have to pay a royalty relating to the Artists Resale Right Regulations 2006. The royalties are administered by the Design and Artists Copyright Society (DACS), or the Artist’s Collecting Society (ACS), and no handling costs are retained by PFAA Ltd.
The current royalty charge for qualifying items over €1,000 are:
Up to €50,000 – 4%
€50,000.01 to €200,000 – 3%
€200,000.01 to €350,000 – 1%
€350,000.01 to €500,000 – 0.5%
Exceeding €500,000 – 0.25%
Royalty charges are calculated using the Euro to UK sterling exchange rate on the day of the sale.
- Grateful69Phish
- Art Freak
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- Joined: Tue Nov 13, 2007 7:41 pm
- Location: Nirvana
ZERO horse in this race but the only thing I can say is, when I purchase something FROM the artist, I now OWN it and should be free to do as I wish without paying "transfer fees" - aren't those called taxes?
world is changing though- and NFT is different than ink/paper from this viewpoint.
no tag along clauses for me
Bottleneck rules
world is changing though- and NFT is different than ink/paper from this viewpoint.
no tag along clauses for me
Bottleneck rules
lol thank youGrateful69Phish wrote: ↑Tue Feb 01, 2022 7:22 amZERO horse in this race but the only thing I can say is, when I purchase something FROM the artist, I now OWN it and should be free to do as I wish without paying "transfer fees" - aren't those called taxes?
world is changing though- and NFT is different than ink/paper from this viewpoint.
no tag along clauses for me
Bottleneck rules
but the first part. If Im reading that correctly, think of the transfer fee as being a shipping and handling charge. You can do what you want with it but if you send to someone else you have to pay a network fee. Some networks can basically be under $10. Unfortunately some networks can sometimes be like Priority overnighting a 30 x 40 inch, 40 lb box with USPS.
- HelloExactly
- Art Expert
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- Joined: Sat Apr 16, 2011 2:13 pm
BNG has so many ballwashers, you'd think it was a golf course.
NFT's are not music streaming. When I pay my Spotify, I don't have any misunderstandings about whether or not I own the music that I'm listening to. I don't listen to a Nirvana song and then try to sell it when it's over.
It's entirely not the same thing at all, in any way.
NFT's are not music streaming. When I pay my Spotify, I don't have any misunderstandings about whether or not I own the music that I'm listening to. I don't listen to a Nirvana song and then try to sell it when it's over.
It's entirely not the same thing at all, in any way.
Never understand the comment about ppl defending us. Not sure whats wrong with people liking us or knowing that I'm passionate and care about what I do.HelloExactly wrote: ↑Tue Feb 01, 2022 1:00 pmBNG has so many ballwashers, you'd think it was a golf course.
NFT's are not music streaming. When I pay my Spotify, I don't have any misunderstandings about whether or not I own the music that I'm listening to. I don't listen to a Nirvana song and then try to sell it when it's over.
It's entirely not the same thing at all, in any way.
But you are the listener? What does this have to do with an artist (or Nirvana in your example) selling their art and making royalty off continuous sales? Nirvana makes money for streaming. Why can't an artist who sells NFTs? If I'm an average buyer buying an NFT, I don't make continued royalty off the sales? Once I sell, I'm done. No different then you selling something on ebay.
Last edited by acidburn on Tue Feb 01, 2022 4:32 pm, edited 1 time in total.
- ygolohcysp
- Art Expert
- Posts: 2627
- Joined: Wed Jun 04, 2014 12:57 pm
You must be realizing by now that you're the "get off my lawn" guy right?HelloExactly wrote: ↑Tue Feb 01, 2022 1:00 pmBNG has so many ballwashers, you'd think it was a golf course.
NFT's are not music streaming. When I pay my Spotify, I don't have any misunderstandings about whether or not I own the music that I'm listening to. I don't listen to a Nirvana song and then try to sell it when it's over.
It's entirely not the same thing at all, in any way.
- HelloExactly
- Art Expert
- Posts: 1744
- Joined: Sat Apr 16, 2011 2:13 pm
You dance around my questions quite nimbly.
A: Would you stop going after eBay resellers if they gave you 10% of the sale?
B: Why is a digital blockchain receipt OK for resale, but my digital PayPal receipt NOT ok?
C: Would BNG be in the NFT game if not for the 10% royalty contracts?
These were the only questions I was ever asking.
Tell you what, let me pay $9.99 a month for access to every BNG NFT and every time I look at one, you get paid. That's how your analogy makes sense.
You're dancing around the fact the only reason artists love NFT's is because they get paid AF for LIFE. Just admit that, and we can all go home. Overpriced, low effort DRECK that pays you on every last flip, for as long as crypto is a thing. There is no other reason to do NFT's besides ultimate greed at a minimal effort level. Greed is OK for the minter, but not for the guy trying to flip a print for $50 on eBay. That's the issue I have with this dumb shite, never mind the environmental impacts. Just looking to reconcile why it would be OK to sell an NFT one second after purchase but not a physical print when they BOTH have a digital receipt proving ownership, and the print is an actual, yknow, thing.
A: Would you stop going after eBay resellers if they gave you 10% of the sale?
B: Why is a digital blockchain receipt OK for resale, but my digital PayPal receipt NOT ok?
C: Would BNG be in the NFT game if not for the 10% royalty contracts?
These were the only questions I was ever asking.
Tell you what, let me pay $9.99 a month for access to every BNG NFT and every time I look at one, you get paid. That's how your analogy makes sense.
You're dancing around the fact the only reason artists love NFT's is because they get paid AF for LIFE. Just admit that, and we can all go home. Overpriced, low effort DRECK that pays you on every last flip, for as long as crypto is a thing. There is no other reason to do NFT's besides ultimate greed at a minimal effort level. Greed is OK for the minter, but not for the guy trying to flip a print for $50 on eBay. That's the issue I have with this dumb shite, never mind the environmental impacts. Just looking to reconcile why it would be OK to sell an NFT one second after purchase but not a physical print when they BOTH have a digital receipt proving ownership, and the print is an actual, yknow, thing.
I'll be that guy if you understand you're the "I'm gonna retire on my Beanie Babies" guy.ygolohcysp wrote: ↑Tue Feb 01, 2022 4:09 pmYou must be realizing by now that you're the "get off my lawn" guy right?
- ygolohcysp
- Art Expert
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- Joined: Wed Jun 04, 2014 12:57 pm
I have made in 6 months what I've made in 6 years previously. Do some research. The silly looking thing that's my avatar cost me 2.75 eth and sells for 22 today.
My wife is excited because now I gave a substantial sum to contribute to a real estate purchase. If that's the result of being in the greedy NFT space well then ok, I'm a greedy shitbird. Ca-caw!
My wife is excited because now I gave a substantial sum to contribute to a real estate purchase. If that's the result of being in the greedy NFT space well then ok, I'm a greedy shitbird. Ca-caw!
Last edited by ygolohcysp on Tue Feb 01, 2022 7:52 pm, edited 1 time in total.