NFTs

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Masato
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NFTs

Postby Masato » Sun Dec 12, 2021 8:41 pm


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Masato
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Postby Masato » Sun Dec 12, 2021 8:42 pm

His reference to Keanu:


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Som-Pong
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Postby Som-Pong » Mon Dec 13, 2021 11:34 am

Obvious indeed

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Illuminat3d0ne
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Postby Illuminat3d0ne » Wed Jan 19, 2022 7:32 pm

Be very weary of nft's

Currently the easiest way to run pump and dumps and coincidently also currently the easiest way to launder money, it has overtaken physical art in that aspect

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Masato
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Postby Masato » Fri Jan 21, 2022 10:48 pm

Illuminat3d0ne wrote:Be very weary of nft's

Currently the easiest way to run pump and dumps and coincidently also currently the easiest way to launder money, it has overtaken physical art in that aspect


Interesting.

I have tried to understand them, my nephew tries to explain but still can't wrap my head around it lol. He said that people buy and sell them more as stocks not necessarily for the artwork itself but for the potential value to rise. But what is being DONE with the art? No one can see it unless they go to the owner's site?

You can't share them? Or if you can, whats the point in attributing $value to it??

Honestly I know I am old and punchy but I just can't seem to grasp it. I would love for it to be a positive things for artists, God knows the artists have been paid shit for their work the past several hundred years lol. If this could revolutionize the Art world and bring some wealth to talented artists that's great but something seems off about it, don't know

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Illuminat3d0ne
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Postby Illuminat3d0ne » Sat Feb 05, 2022 5:55 pm

Masato wrote:
Illuminat3d0ne wrote:Be very weary of nft's

Currently the easiest way to run pump and dumps and coincidently also currently the easiest way to launder money, it has overtaken physical art in that aspect


Interesting.

I have tried to understand them, my nephew tries to explain but still can't wrap my head around it lol. He said that people buy and sell them more as stocks not necessarily for the artwork itself but for the potential value to rise. But what is being DONE with the art? No one can see it unless they go to the owner's site?

You can't share them? Or if you can, whats the point in attributing $value to it??

Honestly I know I am old and punchy but I just can't seem to grasp it. I would love for it to be a positive things for artists, God knows the artists have been paid shit for their work the past several hundred years lol. If this could revolutionize the Art world and bring some wealth to talented artists that's great but something seems off about it, don't know

Honestly, with your graphic art background, you could be making an absolute killing in NFT's

It's digital art that a person can purchase the rights to and then try to promote that artwork so it gains people who want it and you sell for a higher value (this can also be done beforehand for NFT drops which is basically when the art goes up for sale and its a free for all, first come first serve

I actually just found out that it's even more nefarious than I knew, a lot of the art is too large to actually host so the person purchasing the NFT (in a lot of cases) isn't even purchasing the art, they are purchasing a link to the artwork while thinking they own the artwork (they don't and you have to seriously research the nft or you won't have any knowledge of this)

It can be great for artists, they can make a killing, it is more negative (can be) for the purchaser due to not knowing what they are buying, rug pulls are extremely common with influencers hyping up absolute garbage, and the value is going to absolutely nose dive 9 times out of 10 unless you're purchasing a Banksy or something legit, are an influencer who can hype up the nft afterwards or get extremely lucky


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