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NFTs - What is your opinion on it?

Chairmanchuck (另一个我)

Chairmanchuck (另一个我)

Teyvat Traveler
Member
Oct 25, 2017
9,160
China
Since it seems everyone and their grandpa tries to get into NFTs (Nike, WWF, EA, McDonalds, my Grandma), what is your opinion on it?

Grifting?
Ponzi Scheme?
The future of digital ownership?
Fraud?

You see some people totally be impressed by it buying monkeys that feel like drawn by your middle school classmate for 20k, but then talk about how it might be important to artists, while on the other hand see it as an investment.
Or you have the actual real art made by actual artists, where you might own the image of a McRib as a NFT.
 
Stuntman

Stuntman

The Fallen
Oct 27, 2017
2,175
jfxqUzW.jpg
 
AnansiThePersona

AnansiThePersona

Started a revolution but the mic was unplugged
Member
Oct 27, 2017
15,682
I can excuse selling a JPEG of a sandwich but I draw the line at selling a JPEG of a poorly drawn monkey
 
AdamE

AdamE

3D Character Artist
Verified
Oct 25, 2017
1,051
Japan
It's a scam where the only reason people get into them is as a get rich quick scene.

It has nothing to do with art. The whole thing is a cult.
 
RockmanBN

RockmanBN

Visited by Knack - One Winged Slayer
Member
Oct 25, 2017
28,077
Cornfields
What value do these shitty drawings bring? Why are people blowing loads of cash for these? Outside of selling, what can you really do with them? Why fuck the environment more for this?
jQ3Ml0K.png
 
purseowner

purseowner

From the mirror universe
Member
Oct 25, 2017
9,445
UK
Those monkeys

This is actually Beyond Good & Evil 2

This is what it became
 
Servbot24

Servbot24

The Fallen
Oct 25, 2017
43,388
I think they're stupid as shit. I wouldn't really care that they exist, it's just annoying to keep having to hear about them.
 
Jintor

Jintor

Saw the truth behind the copied door
Member
Oct 25, 2017
32,572
ponzi scheme. worse, environmentally damaging ponzi scheme, even with PoS or whatever.

i actually think it's 'good' for artists as individuals who can cash out as soon as possible selling to Greater Fools who themselves think they can rube someone else, which is probably why you see all these celeb endorsements; to a lot of people it's probably not very different from putting a signature on something. It does burn a lot of likability/trust amongst people who are aware, but I guess if you're big enough/your audience doesn't care enough that doesn't matter.

The whole thing is idiotic though, people are only buying at the massive prices because they think they can flip it to someone else down the line.

Or you have the actual real art made by actual artists, where you might own the image of a McRib as a NFT.
Click to expand...
Click to shrink...

as far as i understand it, unless the NFT is explicitly bundled with a bunch of rights/licences etc that transfer with it, you seriously dont own a thing lol.
 
Weiss

Weiss

User requested ban
Banned
Oct 25, 2017
64,265
I don't understand them. I think you buy something that says you own a jpeg except you have no way of stopping anyone from just using it all over the place.

Also the environmental destruction is kind of a pisser, kindly fuck off forever if you're buying into it.
 
mbpm

mbpm

Member
Oct 25, 2017
23,894
I don't like them but I can't do anything about them, just like with many other things in this world.
 
jph139

jph139

One Winged Slayer
Member
Oct 25, 2017
14,448
Stupid nonsense, but no stupider or more nonsensical than any other abstract items of theoretical value like gold or dollar bills or Pokemon cards.
 
Finale Fireworker

Finale Fireworker

Love each other or die trying.
Member
Oct 25, 2017
14,717
United States
They are stupid. They are one of the most insipid things I have ever seen in my life and the only thing worse than the idea of NFTs are corporations trying to "get in on the trend" and helping perpetuate them.

Like most crypto, it is an MLM that affords people lots of different levels of engagement based on their willingness to embrace the delusion. It should be shunned at every turn and opposed in every forum.
 
Cenauru

Cenauru

Dragon Girl Supremacy
Member
Oct 25, 2017
6,103
Tech that has no purpose outside of being the next money laundering scam/ pyramid scheme that will die off when rich people find the next one to trick gullible people into. It literally only works as long as they keep tricking people to invest and lose money from it.

In terms of the technology itself, crypto has always been in the territory of being made to find a problem to be the solution for, rather than being made because a problem needs a solution that nothing else is able to solve yet. We already have the technology to solve every "problem" that crypto claims to solve.
 
Big Yoshi

Big Yoshi

Member
Nov 25, 2018
1,818
The apes are the single ugliest piece of art I have ever seen. I expect them to stay around for like 10 years and then be mostly forgotten about.

crypto-beanie babies
 
RoboPlato

RoboPlato

Member
Oct 25, 2017
6,825
A stupid waste of money that are morally reprehensible due to the massive environmental cost
 
Finale Fireworker

Finale Fireworker

Love each other or die trying.
Member
Oct 25, 2017
14,717
United States
Cenauru said:
Tech that has no purpose outside of being the next money laundering scam/ pyramid scheme that will die off when rich people find the next one to trick gullible people into. It literally only works as long as they keep tricking people to invest and lose money from it.

In terms of the technology itself, crypto has always been in the territory of being made to find a problem to be the solution for, rather than being made because a problem needs a solution that nothing else is able to solve yet. We already have the technology to solve every "problem" that crypto claims to solve.
Click to expand...
Click to shrink...
This is very well expressed and I align wholly with this perspective.
 
Musubi

Musubi

Unshakable Resolve - Prophet of Truth
Member
Oct 25, 2017
23,761
Absolute scam and waste of time. But I'm sure we'll have people in here telling us how its the future of digital transactions shortly.
 
divisionbyzorro

divisionbyzorro

Member
Oct 25, 2017
3,773
Blockchains are a solution in desperate search of a problem.

NFTs are a fabricated problem that can only be solved by blockchains. They exist solely to justify the existence of blockchains. That is their actual purpose.
 
Apollo

Apollo

Corrupted by Vengeance
Avenger
Oct 25, 2017
8,124
I think they're fantastic for stealing art and making a lot of money off of impressionable and unlucky people. And despite any claims that "don't worry these are going to be okay for the environment", I feel that so long as they exist they will continue to be supporting the larger crypto culture that will continue to prioritize profits at the maddeningly unnecessary expense of the environment. And it bears repeating that there susceptible people who are going to gamble hard and lose everything for what, a damn URL to a JPEG or something? I have watched my brother become somebody who doesn't have anything to talk about these days outside of NFTs, NFTs, NFTs. It's a nightmare. So yeah I think NFTs are fucking vile. This world doesn't need them.
 
Jaymes

Jaymes

Member
Sep 18, 2021
173
It reminds me of when customisable wallpapers on old school Nokia phones became a big enough thing for people to pay about £3 for some pattern as detailed as a Tamagotchi screen and there were news articles about it and how silly yet interesting it all seemed. At least polyphonic ringtones (even if they barely resembled the recording) made more sense then people having some Tamagotchi naked woman on their phone screen.

I just don't see the big deal. There's obviously a market for this stuff, but because it's digital content which is often easily copied, it doesn't seem as stable or likely to go up in value like a painting would. The market seems too unpredictable to invest in, but I don't even own stocks, so my input isn't that valid in the grand scheme of things.

As previously mentioned by others, it seems great for money laundering, far more so then fine art does.
 
Billfisto

Billfisto

Member
Oct 30, 2017
15,175
Canada
I have yet to see an actual use of the technology that makes sense.

It's all just "well, we have a hammer, let's make seven billion shitty pixel art nails."
 
Mekanos

Mekanos

▲ Legend ▲
Member
Oct 17, 2018
44,381
speaking somewhat seriously, if you notice that pretty much every corporate mouthpiece and bourgeoisie busybody is speaking positively about something, it's usually bad

exhibit A

www.resetera.com

EA CEO calls NFT and blockchain games 'the future of our industry'

"I think that in the context of the games we create and the live services that we offer, collectible digital content is going to play a meaningful part in our future," Wilson said. "So, it's still early to tell, but I think we're in a really good position, and we should expect us to kind of...
www.resetera.com www.resetera.com
 
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