Posting this every time:
It's just money laundering. They just want to do fine-art money laundering with a lower cost per transaction, and higher convenience.
Crypto art is just an arbitrarily valued intangible asset, posing as art.
Ever wonder why a grey square sells for 9999999 dollars? They're not getting their rocks off on the grey square, they're just pretending to be insane so they can get away with stealing.
Just recently some person put together a bunch of People magazine covers into one jpeg and it sold for 62 million dollars. Of course it's fucking money laundering. That shit is going to sit on some silly hard drive in some silly folder
I see this posted all the time but nobody ever explains how to get in on it
there's nothing to "get in on" unless you've already stolen a bunch of money you need to launder
you get a % of every sale and resell of the tokenized art as the creator.
Yeah, I believe the artists are in on the scam, and get paid via the initial art sale which is always a small fraction of the later price.
I read a story about some rich celebrity like Daniel Radcliffe or someone like that, who couldn't figure that out either. Someone was trying to buy a 1 million dollar (non-historical) painting but they just wouldn't let them. Because you have to know people who know people, be owed dark money from certain people, etc.
Sci-Fi authors: Currency will be measured in Joules stored.
Present: Currency is being replaced with energy wasted.
That scifi premise is also questionable, seems conducive to carrying around highly radioactive isotopes
Maybe I haven't read enough sci fi but wouldn't it act more like the gold standard, where currency represents an amount of energy as opposed to literally carrying around physical batteries or something on your person.
[Aoish credits] were just about the only universally acceptable medium of exchange in existence, and each one entitled the holder to convert a coin into either a given weight of any stable element, an area on a free Orbital, or a computer of a given speed and capacity.
Found the main example that was sticking in my head. From Consider Phlebas.
It's talking about the theoretical ability to trade them in, but generally they're just used as currency.Yeah isn't that basically the gold standard, they're notes that entitle you to x amount of gold
Basically, although I thought it was interesting that the list included materials, and also ownership of a computer, rather than a specific amount of processing time. Made me think about the difference between how proles generally can only trade currency for a specific amount of value, but the bourgeoisie can trade currency for assets that yield profit at a constant rate. I wonder if there are effects that replicate that in this universe.
Working class people can buy stocks though, just not enough for a sizeable investment income unless you get really lucky playing the market
I mean I'm just guessing, maybe a lot of sci fi books do have the more literal interpretation
I feel like capitalism could produce a system that stupid so it could totally belong in dystopian scifi lol
This particular thing seems unlikely though, trading actual energy would be pretty impractical so even in the worst ancap dystopia corporations would probably at least come up with some kind of currency that represented energy. Unless things are so bad that there's not enough stability for currency to be worth anything, in that case people could trade actual energy but that would really just be barter since there's no real reason they wouldn't trade other valuable shit too.
So I feel like a sci fi world where people pay for stuff in unexploded bombs is kinda just bad worldbuilding.
Definitely not good worldbuilding. I was picturing it being used more as a spoof or gag.
Gonna keep my life savings stored in a flywheel I keep in the back of a U-Haul.
the fact that i heard of this from "investors" and "trendsetters" and not artists themselves tells me everything about this market. No artist I know advocated for this at any point before now, so fuck everything about this.
the blender guru guy made a case for it being "really cool" and how its really not that different from owning like the mona lisa since popular art is already out and you could theoretically print it off and make your own print of it anyway.
But no one’s talking about the art pieces. There’s no desire to talk about the art itself.
The mona lisa is a famous work. These bit coin pieces are just bullshit pieces.
yea i agree, that was just his take on it. I rolled my eyes of course.
but yeah like everything i've seen has been like "someone spent 20k on a default cube" and shit, nothing about how good or interesting the art pieces are.
Me hitting windows + shift + s to instantly crop and copy anything I want :sicko-zoomer:
techbros vaping a massive hit of their own fecal juices over NFTs really just blows my mind, it's a million times worse than regular bitcoin phantasmagoria because it's not even money or a thing, it's a hash that refers to a thing, usually a thing that doesn't exist.
If you bought an NFT artwork, congrats on the Jaypeg that literally anyone can copy. Value proposition: "Artists use to be able to sell things, but now they can sell things!" everyone claps and accepts their medals of honor like at the end of starwars.
If you bought horse armor NFT DLC, congrants on a.) nothing fundamentally different and b.) losing it when the game dev moves on to a new project or decides not to respect all the "immutable facts" on the blockchain.
There's basically zero incentive for game devs to make horse armor DLC that you can buy in one game then use in another. Game devs, when hunting for whales and fine tuning your slot machines for children, just use any database. Save the trees.
The worse part is the ideology behind it. Fanatics respond to criticism with stupid shit like "uh yeah, but now artists can sell stuff". Transitioning to a post-scarcity society is good. Artificial scarcity is bad. People who are inventing new ways to force others to use them as a middlemen and fetishisizing it as "I made myself a living selling <incoherent feudalist nostalgia>" is just disgusting.
Normal people: please stop commoditizing things
Techbros: we should commoditize commoditization itself
“uh yeah, but now artists can sell stuff”
someone needs to introduce these weirdos to the furry community
signs pointing to other signs, precession of simulacra, map precedes the territory; etc etc
Burning that dinosaur oil to trade cryptographically guaranteed gamer girl bath water futures on the stock market
NFT means non-fungible tokens.
Basically bitcoin, except not currency.
You can think of it like a collectible coin that's worth a lot, but isn't actually usable as money.
Since these are just arbitrary lines of code, it's hard getting people exicted for them.
That's why they're tied to art. The token represents ownership of a piece of digital art.
But, when promoting the art so people try to get the NFT, you have to show off the art, meaning it's publically accessable and you're wasting electricity trying to buy... Nothing.
But, when promoting the art so people try to get the NFT, you have to show off the art, meaning it’s publically accessable and you’re wasting electricity trying to buy… Nothing.
being an art thief has never been easier, huh
Selling illegal screengrabs of future-tech Art on the greynet like a true cyberboi
The token represents ownership of a piece of digital art.
But it's not "copyright" ownership, it's "proof that you paid money at it for no further rights, aside from reselling your receipt.".
I keep seeing crypto grifters posting about NFTs on Instagram artists and it's close to the dumbest shit I've ever heard of.
I can't believe 4channers haven't overrun the marketplace with tokenized Pepes yet. They can finally truly be rare.
haha holy shit, this predates mainstream NFT adoption by 3 years. Those shitlords really are the vanguard of meme culture.
I'll take a rare pepe over a lame Dorsey tweet any day.
