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So WTF are NFTs all about? Buying JPGs? Why can't you just right-click save? Is this a giant ponzi? Far from it...

MoneyDoc

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@AceVentures do you think it's worthwhile tracking down influencer wallet addresses and using an app like zerion to track down what they're minting? Seems like everything is being shilled right now and there's an opportunity to purchase right before a Twitter post or a YouTube vid.
 
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AceVentures

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@AceVentures do you think it's worthwhile tracking down influencer wallet addresses and using an app like zerion to track down what they're minting? Seems like everything is being shilled right now and there's an opportunity to purchase right before a Twitter post or a YouTube vid.

Onchain analytics can teach you lots yes. I would certainly encourage you to dig deeper down this rabbit hole if your aim is to make money, you will not regret it.

I'm personally bowing out of further NFT/Crypto discussions. I've made more money than I need - and I'm starting to feel disgusted with myself.

More money is not the answer to any of my needs at this point. I apologize in earnest to anyone who I have hurt with my words in these forums by being overly passionate or by not giving enough love to the way I handled our fragile discussions. I am angry, I am sad, I am fearful, I am wrong, and I am full of mistakes. I am sorry, and I want you to know, if you are reading this that I love you and I care for you.

I'm sure the community here will fill in the blank pages of this story - and remember the end goal of this technology is personal liberty. Not free because we have more money now, but free because our words, our love, our idea, our existence can live on uncensored.
 

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maplexxx

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Hmm so NFTs as a way to monetise escapism? I do agree that escapism and distraction is going to be in demand. I’m still scratching my head on how to put money in this NFT trend. Like if I want to put money on property, I’ll just buy property. Same with stocks, crypto, buying a business. The best the internet could give me was investing in Cloudflare.

Maybe I’ll just go buy a bunch of Axies.
How to invest in Cloudflare? Buy their share?
 
D

Deleted70138

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Wanted to post one of my services as NFT, with the idea that customers could actually buy service in advance, and in case they changed their mind, they could resell the service to others, but $146 is just too much.

2021-09-02 16_41_21-Window.png

Also, to transfer the same NFT to an address, costs this:

2021-09-02 16_46_14-Window.png
 

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Early days, my friend, early days… first mobile phone was a brick, cost a fortune and yet here we are… typing this on a smart phone.
 
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Jon0

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Wanted to post one of my services as NFT, with the idea that customers could actually buy service in advance, and in case they changed their mind, they could resell the service to others, but $146 is just too much.

View attachment 39723

Also, to transfer the same NFT to an address, costs this:

View attachment 39724
It's the high gas fees which IMO is the inherent issues with ETH. There are alternatives offering NFT's with much lower fees. Solana is getting a lot of attention for this reason and Fantom is another challenger.
 

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ok fess up who has lost money on their NFT's already? Dont be shy its a learning process
I am so far behind that I don’t even know how to buy NFTs let alone lose money on it!
 
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D

Deleted70138

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Evidently it's possible to list NFT for free on Opensea, which nobody covers in their tutorials. This is how:

1)Open your account (this one is covered by everybody.
2)"Create" button to create your NFT
3)At the end don't price your NFT and just leave it alone.

Now there will be NFT on your account, open for everybody to search and see. They can even give you their price, but with one caveat: When they open your NFT, it will be told to them, "do you trust this account" for buying your NFT, telling that it might be counterfeit one.

Now question is, me buying my own NFT (from other account), will it change the status of it's eligibility?
 

Rawr

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Evidently it's possible to list NFT for free on Opensea, which nobody covers in their tutorials. This is how:

1)Open your account (this one is covered by everybody.
2)"Create" button to create your NFT
3)At the end don't price your NFT and just leave it alone.

Now there will be NFT on your account, open for everybody to search and see. They can even give you their price, but with one caveat: When they open your NFT, it will be told to them, "do you trust this account" for buying your NFT, telling that it might be counterfeit one.

Now question is, me buying my own NFT (from other account), will it change the status of it's eligibility?
try it and let us know.
 
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Rawr

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These NFT projects are coming up with cool ideas every day.

View: https://twitter.com/tandavas/status/1432802991308881928



in some twisted way this feels like we're going full circle to early game dev. Only this time when u play D&D with your friends you will own the gear you start with, and can sell it.

Im gonna make a note here ,something that been rolling in the back of my mind for awhile now as I look at NFTs push for ownership and this "NFTs will eat up the internet". It starts to look like a double edged sword. Isnt this unnecessary to own everything out there? Is there going to be again a difference in access and gatekeeping between those who have and those who don't?

however i think this is inevitable because the overall fight is - either EA owns your digital items, or you fight this fight so you do.
 
Last edited:

MTF

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Isnt this unnecessary to own everything out there?

I find it funny that people want to own something digital artificially made scarce but the world as a whole is moving towards the "rent, don't own" trend.

I myself don't follow this trend as I like to own stuff I use (physical stuff) but it's curious how many people who prefer to rent vs own or use Uber instead of buying their own car suddenly want to own something that has no utilitarian value. I guess maybe the reason is that owning an NFT doesn't cost you anything while owning something physical usually involves some maintenance.
 

Rawr

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I find it funny that people want to own something digital artificially made scarce but the world as a whole is moving towards the "rent, don't own" trend.

I myself don't follow this trend as I like to own stuff I use (physical stuff) but it's curious how many people who prefer to rent vs own or use Uber instead of buying their own car suddenly want to own something that has no utilitarian value. I guess maybe the reason is that owning an NFT doesn't cost you anything while owning something physical usually involves some maintenance.
part of it is identity - a way to represent yourself online. Now only you own your avatar. Also we dont even know what is going to come out of this, so people are jumping into literally every interesting project.
 
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Andy Black

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I find it funny that people want to own something digital artificially made scarce but the world as a whole is moving towards the "rent, don't own" trend.

I myself don't follow this trend as I like to own stuff I use (physical stuff) but it's curious how many people who prefer to rent vs own or use Uber instead of buying their own car suddenly want to own something that has no utilitarian value. I guess maybe the reason is that owning an NFT doesn't cost you anything while owning something physical usually involves some maintenance.
It’s seems like it’s a way to own the original of digital products, to be able to prove ownership, and to maybe even write some contract into each digital copy?

Will this somehow do away with pirating digital products?

It seems to allow for more creative contracts (like getting a % of the sale of a brick and mortar property every time it’s sold in the future).

Did you listen to that podcast with Gary V discussing NFTs? I think he did a good job of keeping it high level.
 

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Will this somehow do away with pirating digital products?

The way I understand it, it won't. It only works as a certificate of authenticity. What it doesn't do is prevent you from sharing it. Either way, piracy affects sales very little. Those who download pirated copies would never buy from the creator anyway.

It seems to allow for more creative contracts (like getting a % of the sale of a brick and mortar property every time it’s sold in the future).

Yeah, you as the creator can get a cut from every resale. That's the most promising feature of this technology.

Did you listen to that podcast with Gary V discussing NFTs? I think he did a good job of keeping it high level.

Not yet and I'm not sure I will as I listen to podcasts very, very rarely. I usually can't focus and need to be very interested in the topic to listen to a podcast, unless I'm on a long drive.
 

Andy Black

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The way I understand it, it won't. It only works as a certificate of authenticity. What it doesn't do is prevent you from sharing it. Either way, piracy affects sales very little. Those who download pirated copies would never buy from the creator anyway.
My bad. I didn’t just mean pirated.

I meant someone copies your content without attributing and without you benefiting from it.

I trot out quotes all the time. I try to attribute them properly each time.

e.g. “Money is proof you helped your fellow man” - MJ DeMarco

What if every time that phrase was said then we’d all know it was by MJ whether we state it or not, *and* he’d somehow get kudos/attribution for it?

I think there’s already a platform (or two?) where people can create and Like content, and creators somehow get some coin based on their activity or Likes. Kinda like the old forum rep. I think the coin is called Steam.

What if some platform like Quora somehow shared its advertising money to creators based on a contract upon signing up, and based on the content each creator publishes and how it performs?

What if the whole internet adopts the same standard/model, and everything we create online is attributed back to us, and we’re rewarded in perpetuity for content we’ve created years ago. Maybe we sell the rights to that content to someone, or maybe our kids and grandkids inherit it?

If one platform implements such a model, would creators flock to it? What would other platforms do to compete? Would they all adopt that model too?

What if we got a share of Google’s advertising revenue if people click from their search engine to a page on our site, regardless of whether we have Adsense ads on that page?

Is all of the above what people are referring to when they talk about Web 3.0? Will people look back and laugh at the Wild West of Web 2.0 where people didn’t get attributed for the content they produced and arsewipes shamelessly copied courses or photoshopped income screenshots?

I don’t understand crypto, NFTs, etc. I have zero interest in learning how any of it works. I am interested, however, in what changes this might bring and what effect it might have on our behaviours and business models.
 
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Andy Black

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Not yet and I'm not sure I will as I listen to podcasts very, very rarely. I usually can't focus and need to be very interested in the topic to listen to a podcast, unless I'm on a long drive.
You seem to be watching lots of videos, and getting frustrated at some of them. Maybe there’s a video version of that podcast? Or maybe something they say in the podcast will save you from watching more videos?
 

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I have no idea what NFTs are really. But I just bought 10 digital mushrooms for 400usd each. The FOMO got to me. Now wait and see I guess...
 

Andy Black

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I think there’s already a platform (or two?) where people can create and Like content, and creators somehow get some coin based on their activity or Likes. Kinda like the old forum rep. I think the coin is called Steam.
I think it was this:
 
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G

Guest-5ty5s4

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So TLDR, is an NFT just a new form of intellectual property, decentralized, rather than a trademark or regular ol' copyright?

You'll still have to enforce your ownership somehow if people are using copycats of the image, file, etc. Right?
 

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So TLDR, is an NFT just a new form of intellectual property, decentralized, rather than a trademark or regular ol' copyright?

You'll still have to enforce your ownership somehow if people are using copycats of the image, file, etc. Right?

The best description I've found is that it's simply a digital certificate of authenticity. Nothing more, nothing less. You as the creator certify the authenticity of a given digital item. It doesn't mean its copies can't still flow freely online, sort of like you buying the Mona Lisa doesn't mean there won't be its reproductions in various forms still being sold everywhere.
 

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The best description I've found is that it's simply a digital certificate of authenticity. Nothing more, nothing less. You as the creator certify the authenticity of a given digital item. It doesn't mean its copies can't still flow freely online, sort of like you buying the Mona Lisa doesn't mean there won't be its reproductions in various forms still being sold everywhere.
Rolex can be faked, but authentic Rolex has value beyond $$$. To many it’s an indicator of status, wealth, power, success etc. Public wallets allow to have cyber punks owners to show off, like a Rolex. And since it’s in blockchain, you can’t claim to have it because you got a knock off. It’s in public domain (by your choice) to show you have authentic item.
 
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Guest-5ty5s4

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The best description I've found is that it's simply a digital certificate of authenticity. Nothing more, nothing less. You as the creator certify the authenticity of a given digital item. It doesn't mean its copies can't still flow freely online, sort of like you buying the Mona Lisa doesn't mean there won't be its reproductions in various forms still being sold everywhere.
So it's kind of like a patent or a trademark.

But decentralized ;)
 

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Rolex can be faked, but authentic Rolex has value beyond $$$. To many it’s an indicator of status, wealth, power, success etc. Public wallets allow to have cyber punks owners to show off, like a Rolex. And since it’s in blockchain, you can’t claim to have it because you got a knock off. It’s in public domain (by your choice) to show you have authentic item.

Which is why the speculative NFTs value is so hard to grasp for most investors. Unless you can't contain your excitement around baseball cards and other similar collectibles, its digital counterparts make absolutely zero sense. Same if you don't care about showing off.

I mean, seriously, I can't NOT roll my eyes if someone is seriously thinking that it's impressive to "own" a piece of pixelated digital junk.

I can understand owning rare beautiful ancient/medieval art (its scarcity is real, not fabricated) but this? I'll be extremely surprised if cryptopunks and similar NFT silliness in a few years (or less) won't become another story of how people lost their life savings on something that in hindsight was so idiotic it's unbelievable.
 

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Wtf Are NFTs All About​

Gambling. An improved version, where you don't have to get out of your chair to go to the casino, plus you have all your online anon friends doing it along with you too so there's a social media aspect.

It's an "investment". Like a stake at a poker table is an "investment".
 
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gryfny

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I have no idea what NFTs are really. But I just bought 10 digital mushrooms for 400usd each. The FOMO got to me. Now wait and see I guess...
I got a few "good" ones. But not sure if I could sell them for a profit now. The gas fees were crazy. I paid .42 ETH for the NFT's and around .6 ETH in fees.


Today I got a free one from here: PunkScape
I just paid gas (40usd) on this one. Not sure what it is though...
 
D

Deleted70138

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Here is the script:

1) Garyvee (or any other public figure) creates NFT album
2) They attach royalty fee of 10-20-30%
3) They give out those NFTs for free (not truly free, as you pay ridiculous amount of gas fee)
4) They promote online how great NFTs are and indirectly promote their own album
5) For every transaction they earn money, marketplace host earns money, while schmucks try to trade their way into the fortune.

If you don't know who's the schmuck, you are the schmuck. House always wins.
 

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