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Unread 12-03-2021, 08:46 AM
Switching Off
 
Lightbulb NFTs

Could have put in science and tech but I think anyone buying these now is hoping they make a bit of cash.

NFTs are non-fungible tokens, often pieces of digital art, that can be replicated or downloaded by anybody but whose ownership can be verified on the ether blockchain. It's a madness alright.

Signed up for Sorare which is like a fantasy football game but you "win" or buy players via unique limited edition cards that only exist on the blockchain. The cards you're given are common, but they mint new cards on the reg. Some are super rare, with only 10 minted, others have 100 minted, and there are unique 1/1 cards. And then there are the common ones.

The rare ones go for a lot. The highest sale is about €65k for a unique Mbappe. I've bid on a few 18 year old orientals but lost every auction. If you grab the next Ronaldo before he makes it, you could make a very tidy profit.

Lost a bit of interest in it because even players you've not heard of at 17 or 18 are going for 30 or 40 euros, and as it stands lots of players arent available. But its growing and they are licensed with FIFA so will be on the lookout for when United u18s are added.

Last week Kings of Leon did an NFT album drop so I bought their new album. Got a digital download, a NFT piece of art and will get a physical vinyl copy of the album when the sale finishes a week today. So far they've sold about 4000 of these, and it cost about £40 in ETH and the same again in gas fees. Had that ETH for years though so probably cost me about a tenner in that respect. Hoping the physical album at least retains its value, which it should. My NFT looks like the one below. There are others on actual auctions that are much rarer. And some NFT artwork has been going for crazy money recently. We're talking millions. It's the future.



NFT.
 
Unread 12-03-2021, 08:49 AM
Sapien
 
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Artificial scarcity is the new gold.
 
Unread 12-03-2021, 08:55 AM
guerreiro
 
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So if I buy a gif and that gif is also available to everyone on the net, even though I own it how do I make money? Who pays me?
 
Unread 12-03-2021, 08:57 AM
Baron
 
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Quote:
Originally Posted by Sapien View Post
Artificial scarcity is the new gold.
It's more pixels on a screen & faith. Same as old money.

Christies are selling an NFT that has reached $13m+ at the moment.

Banksy just sold one for god knows how much.

NBA Top Shot is a bit of a mess at the moment but NFT's on there are going for hundreds of thousands of dollars as well.

Might throw a few ETH at these though, get in & out rather any hodl considerations here.

Quote:
Originally Posted by guerreiro View Post
So if I buy a gif and that gif is also available to everyone on the net, even though I own it how do I make money? Who pays me?
If you have the NFT, you have the provenance.

You can literally prove it's the original, in a way that traditional art can be forged / copied / have a print made - so can digital.

By creating an entry in the blockchain & holding that, you alone are the owner of the creation - the art is merely a reflection of the idea.
 
Unread 12-03-2021, 09:00 AM
Switching Off
 
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Quote:
Originally Posted by guerreiro View Post
So if I buy a gif and that gif is also available to everyone on the net, even though I own it how do I make money? Who pays me?
The person who acquires ownership from you.

My KoL artwork wont sell for loads with 4k in circulation, but well known artists are releasing 1/1 digital artwork. As Baron says, Banksy has just sold one. People with more money than sense will pay for the kudos of owning that on the blockchain.
 
Unread 12-03-2021, 09:04 AM
utd99
 
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I just bought this gif:



Before someone could claim copyright and stop me using it.
 
Unread 12-03-2021, 09:06 AM
Bunker Buster
 
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Not really into buying GIFs.....

Ridiculous idea, stupidity....
 
Unread 12-03-2021, 09:12 AM
Switching Off
 
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Unread 12-03-2021, 09:14 AM
Baron
 
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f*** me - that escalated quickly! $68.9m
 
Unread 12-03-2021, 09:31 AM
Cream
 
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Closest thing to this I can relate to is the market for rare items in certain video games. E.g. a rare camouflage design for a weapon.

There’s also the ersatz phenomenon of relic guitars. Folk like battered old vintage instruments, so they release new ones that look f***ed, and charge customers more for the privilege.

People are strange.
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