Oh man - scrolled down and saw the story about the Jodorowski Dune bible! What I bummer both for the buyers, and fans who would love to own a copy of that thing. But seriously, you'd think they would have understood that owning the book doesn't give them publishing rights...
I really feel bad that people got fooled into this, but at the same time they could always directly donate to the WWF and skip the dragons-of-unknown-value.
People are getting scammed by NFTs on the regular. check out some of these headlines: https://web3isgoinggreat.com/
That's okay, I issued my post as an NFT so now I can get paid anytime someone reposts it. Pay up, right-clickers!
If someone buys an NFT with Bitcoin in a forest and no one is around to see it, has a transaction actually taken place? *Edit* Apparently it has, but only if someone has a meta selfie of it happening!
A series question because there are many artists on this board and people who know artists personally. Are there any artists out there that are making money off of NFTs so far?
id think so? I am fairly new to the sapce, started with some fud projects, but have got in the green over the last couple. depending on the projects, sometimes there is a tied percentage on all sales of the NFT... so the creator can get a 1-10% kickback depending on what they set up in the contract...
Will be very interesting when we see artist selling physical toys as NFT's, so they can continue to get kickbacks every time their toy resells on the blockchain. I feel like this is coming very soon.. Artists will all of a sudden love having their toys flipped haha. I'm not against the idea, so many toys change collectors hands over the years, it'd be cool to see the artist get a little chunk of the action as they move around.
it would be interesting to see how the space is later... anyone can make a 1/1 nft... but i feel the projects with good utility for the minter are the ones that hold and soar over the mint price... so many projects might have decent art, but the project is crap, thus making the nft worth nothing... im very new to the space, but just my look on things.
I think a while ago Kozik posted he had sold 7,000 NFTs. I think any established artist with a large following will sell and make money on NFTs. I doubt it will be substantially more than they could bring in with limited prints. I don’t think they are going to reach Bored Ape values. I think the projects like that reaching high prices aren’t really about the artist. I don’t think 99 percent of Ape holders could tell you the name of the designer who created their character. Tons of projects follow a similar model, it’s all about gaining followers and visibility with social media and a discord, and whatever else they can do to get attention, celebrity endorsement, etc. convincing buyers to get in early on the whitelist buying for resale value later. I think it has really more than anything replaced trading alt coins as a short term high risk/reward trading option for young people. It’s really just speculation about what’s going to be popular and a bunch of people hoping to buy into something hot and make a lot of money. But I don’t buy NFT, this is all just my observance. So I might be off.
Nope. The majority of the nft money made (upwards of 90%) is held by a small percentage of individuals. The rest is made up of sales ranging between 3-14 bucks. Its profitable in the same way buying and selling comic books is at this time. Just a speculation game where you need the next sucker to buy in so you can cash out. Unlike comic books tho, nfts at this time are just mostly poorly done art pieces with already derivative and played out wow-factors. a fun medium to play in, but one that isn’t going to revolutionize anything. If the meta stock plunge these days has told us anything, is that nobody cares to see your Jordans in virtual form.
NFTs are like trading cards… except they aren’t physical cards, they’re just images, and anyone can just save a copy for themselves. You’re not stupid. NFTs are stupid.
https://www.theatlantic.com/technol...jimmy-fallon-paris-hilton-millionaire/621486/ tl;dr: "But because NFTs aren’t consumer products, the traditional understanding of a celebrity endorsement isn’t an adequate framework for understanding who’s profiting. As Read noted in his newsletter about the Tonight Show video, the Hollywood-NFT ecosystem seems particularly incestuous. Hilton, for her part, is already an investor in at least one NFT platform, and has sold her own Planet Paris NFTs for more than $1 million. There has been a gold rush into cryptocurrency start-ups in the past year, and because they’re private companies, it’s usually not clear who may have invested where, or who may be doing whom a favor. CoinDesk, a publication that covers the cryptocurrency industry, called the recent flutter of celebrity NFT activity and its questionable motivations “perverse deal-making.” MoonPay declined to comment on its investors. Even if an NFT-owning celebrity has no financial stake in any of the companies battling it out in the crypto market, they have a clear stake in NFTs as a concept. When you buy one of these tokens, you aren’t buying ownership of the original artwork—the images are publicly viewable (and right-click downloadable) by anyone on the internet, and the original artists retain their rights to publish or reproduce the work itself. What NFT owners get is a new type of speculative asset, and for growth, they need the investment dollars of the general public to flood in after them. “Just as the pork-futures commodity trader is not principally interested in taking delivery of pig meat, so the NFT trader is not necessarily concerned with the usefulness or even the symbolic value of an ape,” my colleague Ian Bogost wrote recently. When Paris Hilton and Jimmy Fallon make dead-eyed conversation with each other on national television about how cool Bored Apes are, it comes with the very real likelihood that doing so will increase the value of their investment by recruiting new money. When NFTs break contain, NFT holders profit."
I can't find the article right now, but The Atlantic also published a piece highlighting the concept that when you buy an NFT, you're paying for the privilege of holding the receipt for the artwork, rather than the artwork itself. The whole thing feels very scammy. Like cryptocurrency wasn't sexy enough on its own, so NFTs were grafted on to it to create a "scene" that relies on using it. At the end of the day there's still nothing to hold in your hand. (Silver is inching up again today, BTW.)
