avatar! | 1,807 Posted February 24, 2021 Share Posted February 24, 2021 https://news.artnet.com/market/nyan-cat-nft-sells-for-560000-1945679 When it comes to the title, I regret nothing!!! Seriously though, I had never heard of something like this before! ...selling a digital asset known as an NFT—a non-fungible token—at auction... What do you think? A good investment? Crazy? Is the world crazy? Why? I don't know... 1 1 Link to comment Share on other sites More sharing options...
docile tapeworm | 4,196 Posted February 24, 2021 Share Posted February 24, 2021 people are buying digital clips of lebron james $$$$$$ Link to comment Share on other sites More sharing options...
DefaultGen | 5,400 Posted February 24, 2021 Share Posted February 24, 2021 (edited) Solid investment. Nyan Cat is a key 2011 meme and the first appearance of an animated toaster pastry with wide crossover appeal to weebs, gen Z, and adults who think cats are cute. Anyone collecting the full set of 2011 key memes will have to pay whatever the asking price now. Edited February 24, 2021 by DefaultGen 2 3 Link to comment Share on other sites More sharing options...
a3quit4s | 4,093 Posted February 24, 2021 Share Posted February 24, 2021 3 1 Link to comment Share on other sites More sharing options...
Bearcat-Doug | 5,104 Posted February 24, 2021 Share Posted February 24, 2021 Now I'm waiting to see that someone bought the original Doge meme and paid in Dogecoin. Link to comment Share on other sites More sharing options...
RH | 4,895 Posted February 24, 2021 Share Posted February 24, 2021 Lol, this type of thing is a bit old, kind of. I got into the Nxt crypto early. Over the years, they added features, including a shares issuing system. Someone offered a shares market for a Nxt logo painting he made. I think there were 10,000 share, and one share represented ownership in 10,000th of the painting. The idea was to be a proof of concept that you can have a physical item, with divided ownership, and live markets can show you the immediate value of the item. In this case, they just created an auction in ETH (or a side project) and all it really means it "you won the auction". Hilarious. That's more dumb than the Nxt idea. Well, brilliant for the seller. Dumb for the buyer. Link to comment Share on other sites More sharing options...
Reed Rothchild | 9,510 Editorials Team · Posted February 24, 2021 Share Posted February 24, 2021 Nothing said in this thread makes any sense to me Link to comment Share on other sites More sharing options...
guitarzombie | 924 Posted February 24, 2021 Share Posted February 24, 2021 Link to comment Share on other sites More sharing options...
avatar! | 1,807 Posted March 11, 2021 Author Share Posted March 11, 2021 (edited) $560,000? That's nothing!! https://www.cnbc.com/2021/03/11/most-expensive-nft-ever-sold-auctions-for-over-60-million.html “As soon as I saw it, I saw it as this massive, massive potential for this as a platform for digital ownership of a bunch of different things, not just art,” he said. “Moving forward, I think this will be seen an alternate form of asset class.” https://www.entrepreneur.com/article/366648 The crazy thing about these purchases is that anyone can download Beeple’s artwork or Lebron’s highlight. It is as simple as clicking ‘save image’ on your laptop. What buyers are after is not the artwork in itself but the proof of ownership for that artwork. The buyers are akin to art collectors putting their most prized possessions on display in museums. NFTs represent a way for art collectors to encourage financially their favorite artists online. Personally don't see the appeal, but that's just me... also not sure how you can really "own" digital art, but maybe I'm looking at this all wrong? Edited March 11, 2021 by avatar! Link to comment Share on other sites More sharing options...
BortLicensePlate | 652 Graphics Team · Posted March 12, 2021 Share Posted March 12, 2021 @avatar! as I understand it, you have a license that says you are the owner. While it can still be shared and viewed by others, they don't own it. I'm not sure if that extends to usage rights or things like that? Kinda like how just because I buy a Mario 3 cart doesn't mean I am the rights holder of the source code. That's what I think anyway Link to comment Share on other sites More sharing options...
Teh_Lurv | 254 Posted March 12, 2021 Share Posted March 12, 2021 31 minutes ago, BortLicensePlate said: @avatar! as I understand it, you have a license that says you are the owner. While it can still be shared and viewed by others, they don't own it. I'm not sure if that extends to usage rights or things like that? Kinda like how just because I buy a Mario 3 cart doesn't mean I am the rights holder of the source code. That's what I think anyway Nope, you don't get the trademark or copyright to the digital item. All you essentially own is the code in a blockchain, but not the actual contents. Really all it serves is a proof of authenticity. An artist could create a unique NFT of digital art, right-click copy the artwork, and spread exact copies of the image all over the Internet. In theory, that NFT of the digital art still has worth because it's "authentic". Link to comment Share on other sites More sharing options...
phart010 | 1,705 Posted March 12, 2021 Share Posted March 12, 2021 What good is it to have official recognized “ownership” of something if everyone is has free access to it? With physical media the physical media was controlled by the publisher in that they were the only ones allowed to manufacture the media. Anyone manufacturing a copy without license could be legally pursued and charged. With digital media, they’ve found ways to gate the media, only make it viewable as a streaming service, which you must pay a subscription fee to access. Or make it a digital file that is registered exclusively to one user, etc. Restricted access to media has always made ownership (or subscription) of the media synonymous with access to the media. I’m confused with NFTs because you can have an image that everyone already has free access to view, but only one person “owns it”. In my mind it doesn’t fully click Link to comment Share on other sites More sharing options...
MrWunderful | 2,926 Posted March 12, 2021 Share Posted March 12, 2021 Anything can be worth what anyone will pay for it 3 Link to comment Share on other sites More sharing options...
avatar! | 1,807 Posted March 12, 2021 Author Share Posted March 12, 2021 1 hour ago, phart010 said: What good is it to have official recognized “ownership” of something if everyone is has free access to it? I’m confused with NFTs because you can have an image that everyone already has free access to view, but only one person “owns it”. In my mind it doesn’t fully click Yeah, I hear you. I think @Teh_Lurv describes it correctly, which means you own an "authenticated" piece of digital art which otherwise is not any different than any other jpg etc as far as I can tell. I personally don't see the appeal, but to each their own! Link to comment Share on other sites More sharing options...
BortLicensePlate | 652 Graphics Team · Posted March 12, 2021 Share Posted March 12, 2021 9 hours ago, Teh_Lurv said: Nope, you don't get the trademark or copyright to the digital item. All you essentially own is the code in a blockchain, but not the actual contents. Really all it serves is a proof of authenticity. An artist could create a unique NFT of digital art, right-click copy the artwork, and spread exact copies of the image all over the Internet. In theory, that NFT of the digital art still has worth because it's "authentic". Interesting. Yeah I definitely don't fully understand it. But hey, some artists are making a killing on it so good for them 1 Link to comment Share on other sites More sharing options...
Nes Freak | 584 Posted March 13, 2021 Share Posted March 13, 2021 On 3/11/2021 at 7:02 PM, MrWunderful said: Anything can be worth what anyone will pay for it i still find it amazing some one had the bright idea to sell cow s**t for money. Link to comment Share on other sites More sharing options...
Jfreakofkorn | 282 Posted March 13, 2021 Share Posted March 13, 2021 It happens . . . Link to comment Share on other sites More sharing options...
CMR | 519 Posted March 13, 2021 Share Posted March 13, 2021 Is this the crypto art thing I've been hearing about where they combine an image with crypto curency? Link to comment Share on other sites More sharing options...
avatar! | 1,807 Posted March 14, 2021 Author Share Posted March 14, 2021 CNN purchased an NFT. https://www.cnn.com/2021/03/14/tech/nft-art-buying/index.html Pet3rpan is also one of 15 other owners of the 'Little Alien" artwork we bought, a scenario that's possible because it's a virtual piece rather than a physical one. Known Origin, like all blockchain-based platforms, lists all the owners of each piece, along with details of when they bought it and how much they paid. I thought the whole point was that only one person owned the art? Apparently that's not always the case... Link to comment Share on other sites More sharing options...
Teh_Lurv | 254 Posted March 19, 2021 Share Posted March 19, 2021 (edited) On 3/14/2021 at 5:35 PM, avatar! said: CNN purchased an NFT. https://www.cnn.com/2021/03/14/tech/nft-art-buying/index.html Pet3rpan is also one of 15 other owners of the 'Little Alien" artwork we bought, a scenario that's possible because it's a virtual piece rather than a physical one. Known Origin, like all blockchain-based platforms, lists all the owners of each piece, along with details of when they bought it and how much they paid. I thought the whole point was that only one person owned the art? Apparently that's not always the case... I think it's easier to think of NFTs in terms of trading cards. If you own a 1-out-of-10 foil card of Pikachu, you don't own the image or have any rights to the IP, but you do own a physical object bearing the image that happens to be limited to 10 copies. NFTs are basically digital trading cards that can encapsulate other digital media. How many NFTs exist for a digital object is up to the person creating and selling them. Edited March 19, 2021 by Teh_Lurv Link to comment Share on other sites More sharing options...
Estil | 1,261 Posted March 20, 2021 Share Posted March 20, 2021 Someone paid $560K for a picture of a kitty? Why not, in the famous words of Bob Barker just adopt a real kitty at a shelter near your home? Like I said before I wouldn't trade my kitty for a million dollars! Link to comment Share on other sites More sharing options...
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