NFT (Non-Fungible Tokens) - Files as crypto currency

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Spergerella

Spergerella

kiwifarms.net
Joined
Nov 28, 2019
I'm losing my shit trying to wrap my head around the markets on Opensea and Rarible.

My day job happens to be art market adjacent, so I'd like to gain a better understanding of NFTs.

Does anyone here fuck with them?

I have a pile of reading on the subject and am going to dive in, but I wanna hear from folks that have experience rather than an article written by someone with something to gain.
 
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Spergerella said:
I'm losing my shit trying to wrap my head around the markets on Opensea and Rarible.

My day job happens to be art market adjacent, so I'd like to gain a better understanding of NFTs.

Does anyone here fuck with them?

I have a pile of reading on the subject and am going to dive in, but I wanna hear from folks that have experience rather than an article written by someone with something to gain.
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Like "high art" it's money laundering, lol.
 
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I think there are three aspects. The money laundering, . Two, aspects of bubble. But below that there’s a genuine use beyond the trivial. Well two uses.
1. Trading in things like skins for games, which is a thriving trade.
2. (Possibly more interesting) is that it’s technology that provides proof of ownership based on the blockchain. Imagine what impact that could have on escrow/real estate etc. There’s a deeper utility past the trivial.
 
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Otterly said:
2. (Possibly more interesting) is that it’s technology that provides proof of ownership based on the blockchain. Imagine what impact that could have on escrow/real estate etc.
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It would never work to have a system of real-life ownership that amounts to "Whoever has the private keys owns the property". Besides the obvious question of what happens if the keys get lost, think of all the ways property is transferred other than a willing buyer and seller coming together and transacting.
What if someone dies without heirs and the property reverts to the state?
What if a court orders property to be transferred, such in a divorce, breach of contract, eminent domain, seizing the proceeds of illegal activity, a bank repossessing a house in foreclosure, a sheriff's sale on a house with unpaid property taxes, etc?
What if someone hacks me, gets my keys, and steals my property - or if he's a real jerk, gives it away to some random address that even he doesn't know?

One could go on. In exchange for the mathematical certainty of the blockchain, you'd give up all the nuance developed by the legal system for dealing with the real world.
 
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cantankerous jackalope said:
Yeah what questions do you have?
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Are you primarily buying and selling digital assets or are you an asset creator?

I’m wondering how much room there is left for new creators (artists etc) to make a profit or if it’s all been commandeered by the online equivalent of art advisors and blue chip galleries.

I spend a lot of time on Christie’s and Sotheby’s sites, but haven’t gotten a whiff of this market in their spaces.

I imagine as with all collectibles this market is very fad based, or do you see any type of NFTs with longevity?
 
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This is making me think of that time Banksy sold a piece at auction and it self shredded dare I say it probably increased in value after that. The worst was that fucking banana taped to the wall. How did this so called “art” sell for $120,000? I’m not one of those people that hates on modern art but this is corrupt. I wish there was a way to devalue the art of the elite, especially the hedge fund parasites that engage in this market, their art might as well be labelled billionaire meme stock.

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CD264F09-D218-4753-980B-DD4F2DD5BB7C.jpeg
 
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Here are some articles about it I have found useful. I find the ways it’s applicable to gameplay interesting but otherwise it feels like concep art in money laundering. I don’t know if it’s all stupid or if it just makes me feel stupid.

https://opensea.io/blog/guides/non-fungible-tokens/


 
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Someone should tokenize thottery. We may not get circumlunar habitats, but at least we'll have kilowhore-hours as a currency!
"The Geishas are whores and financiers. You must have noticed that your credit card is
registered in hours."
"Yes."
"Those are hours of sexual service. The Mechanists and Shapers use kilowatts as currency. But
the System's criminal element must have a black market to survive. A great many different black
currencies have seen use. I did an article on it once."
"Did you?"
"Yes. I'm a journalist by profession. I entertain the jaded among the System's bourgeoisie with
my startling exposes of criminality. Low-life antics of the sundog canaille." He nodded at Lindsay's
bag. "Narcotics were the standard for a while, but that gave the Shaper black chemists an edge. Selling
computer time had some success, but the Mechanists had the best cybernetics. Now sex has come into
vogue."
 
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Here's a play if anyone is interested. Research cryptokitties founders, and what they did after that project.
Research FLOW coin, and see it's the NFT backing behind NBA Top Shots, and the upcoming UFC NFT.
See that FLOW coin is only on very small exchanges at the moment.

tulskij_tochnyj said:
Someone should tokenize thottery. We may not get circumlunar habitats, but at least we'll have kilowhore-hours as a currency!
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I've thought of creating a THOT coin for this very purpose. If Jack is selling his first soy-tweet for 2.5 million, how much do you think belle delphine doing a "my first anal" will go for?
 
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Maxxicus Callahan said:
How did this so called “art” sell for $120,000?
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Let's say I live in the West want to sell $100,000 worth of illegal cocaine. If the buyer paid me with cash or a bank transfer I would have to explain were that money comes from to the government, and they would take it away because it comes from an illegal business. Never mind that I would have to pay a lot of taxes on it, even if it was legal. Now, my buddy Shlomo, who would like to buy the cocaine, has a piece of banana smeared canvas he bought at a public auction for $120,000. The auction established the piece's worth. There were plenty of people willing to pay more than $100,000 for it. So it is save to assume that I would be able to sell it to them for somewhere around $100,000. And I would have no trouble explaining where the money comes from. Selling art is legal, after all. Better yet, the canvas is stored in a warehouse in a free harbor. A place where you can exchange wares without any taxes or tariffs.
And when I want to buy $100,000 worth of illegal guns and ammo from my buddy Gershom, I just trade him the canvas. Which he will accept for the same reasons I accepted it for my cocaine.
 
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world of shit said:
I've thought of creating a THOT coin for this very purpose. If Jack is selling his first soy-tweet for 2.5 million, how much do you think belle delphine doing a "my first anal" will go for?
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Holy fuck. It is like a sexual futures contract. Whoever owns the coin/contract once it matures gets to pop the cherry.

The future is looking pretty grim there boys
 
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