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> 1. You can already donate to an artist you like through a platform like Patreon You feel like you own something that the artist can only sell once (assuming

by bko 5y ago

> 1. You can already donate to an artist you like through a platform like Patreon You feel like you own something that the artist can only sell once (assuming they're honest). Also, I don't know if there is a credible receipt for a donation on Patreon that you can use to flex > 2. If it's a feature of a social network, don't you already need a central authority? What's the value of an NFT then rather than just an entry in a database? I guess a social network could leverage the hype behind existing NFTs rather than rolling their own. Sure there will be some that will try to have home-spun NFTs, but Twitter indicated for now they just want to use existing NFTS > 3. Similar: whoever is implementing this theoretical VR environment could just be the authority of who owns what. I don't see what an NFT adds here NFTs could also be transferable across platforms. Obviously platforms wouldn't like this, but as a user if I buy a virtual house, it would be better not to be tied to any one platform. So new or existing platforms could try to lure me over by saying I can bring my house with me

skohan 5y ago
> You feel like you own something that the artist can only sell once (assuming they're honest). Also, I don't know if there is a credible receipt for a donation on Patreon that you can use to flex Yeah I mean I understand the appeal of ownership, but it's just so abstract in this case. If you "own" a picasso, you have something nobody else has. If you "own" an NFT, anyone with a copy of the file has exactly what you have. > I guess a social network could leverage the hype behind existing NFTs rather than rolling their own. Sure there will be some that will try to have home-spun NFTs, but Twitter indicated for now they just want to use existing NFTS What would this feature/integration actually look like? > NFTs could also be transferable across platforms. Obviously platforms wouldn't like this, but as a user if I buy a virtual house, it would be better not to be tied to any one platform. So new or existing platforms could try to lure me over by saying I can bring my house with me Yeah but why would they? So what would my NFT "house" be? I guess this is a 3D asset, with a model, some textures, and a collision model that can be rendered inside this VR world. Basically every platform which wants to make this asset usable has to bear the costs of supporting and rendering this asset, while the NFT issuer reaps the profits. What is the incentive here?
acdha 5y ago
> You feel like you own something that the artist can only sell once (assuming they're honest). Also, I don't know if there is a credible receipt for a donation on Patreon that you can use to flex Couldn’t this be done better, at far lower cost simply by having the artist put your name on it or post a video saying “thanks @bko for supporting me!”? That’d have just as much weight, it’s more personal, and you wouldn’t be diverting a substantial amount of money away from the artists to the finance bros.
- bko 5y ago
  I agree. It's just that you would need a way to flex that on social media. I guess they can make a page or something on their site but honestly NFTs are super simple low tech cheap way to elicit donations with a receipt that can be easily acknowledged anywhere
  - acdha 5y ago
    NFTs are “low tech cheap”? That’s a lot of expensive infrastructure and client software to keep running just for receipts – a note on a web page or watermark on an image would be both easier and more robust since they don’t have any third-party dependencies.
    - bko 5y ago
      I can upload a jpg, put in my wallet address and sell an NFT on opensea. I don't have to pay or maintain the infra. No charge backs, tax reporting, stripe integration, etc. I don't even need a website, just pimp it directly on my social
      - acdha 5y ago
        Your transaction fees pay for the infrastructure - and if you’re not paying taxes that’ll catch up with you if you make a habit of leaving signed public confessions around for the auditors. If you don’t generate enough fees, that grinds to a halt since unlike other applications there’s no other benefit to keeping it running.

by bko 5y ago

skohan 5y ago

> You feel like you own something that the artist can only sell once (assuming they're honest). Also, I don't know if there is a credible receipt for a donation on Patreon that you can use to flex Yeah I mean I understand the appeal of ownership, but it's just so abstract in this case. If you "own" a picasso, you have something nobody else has. If you "own" an NFT, anyone with a copy of the file has exactly what you have. > I guess a social network could leverage the hype behind existing NFTs rather than rolling their own. Sure there will be some that will try to have home-spun NFTs, but Twitter indicated for now they just want to use existing NFTS What would this feature/integration actually look like? > NFTs could also be transferable across platforms. Obviously platforms wouldn't like this, but as a user if I buy a virtual house, it would be better not to be tied to any one platform. So new or existing platforms could try to lure me over by saying I can bring my house with me Yeah but why would they? So what would my NFT "house" be? I guess this is a 3D asset, with a model, some textures, and a collision model that can be rendered inside this VR world. Basically every platform which wants to make this asset usable has to bear the costs of supporting and rendering this asset, while the NFT issuer reaps the profits. What is the incentive here?

acdha 5y ago

> You feel like you own something that the artist can only sell once (assuming they're honest). Also, I don't know if there is a credible receipt for a donation on Patreon that you can use to flex Couldn’t this be done better, at far lower cost simply by having the artist put your name on it or post a video saying “thanks @bko for supporting me!”? That’d have just as much weight, it’s more personal, and you wouldn’t be diverting a substantial amount of money away from the artists to the finance bros.

bko 5y ago
I agree. It's just that you would need a way to flex that on social media. I guess they can make a page or something on their site but honestly NFTs are super simple low tech cheap way to elicit donations with a receipt that can be easily acknowledged anywhere
- acdha 5y ago
  NFTs are “low tech cheap”? That’s a lot of expensive infrastructure and client software to keep running just for receipts – a note on a web page or watermark on an image would be both easier and more robust since they don’t have any third-party dependencies.
  - bko 5y ago
    I can upload a jpg, put in my wallet address and sell an NFT on opensea. I don't have to pay or maintain the infra. No charge backs, tax reporting, stripe integration, etc. I don't even need a website, just pimp it directly on my social
    - acdha 5y ago
      Your transaction fees pay for the infrastructure - and if you’re not paying taxes that’ll catch up with you if you make a habit of leaving signed public confessions around for the auditors. If you don’t generate enough fees, that grinds to a halt since unlike other applications there’s no other benefit to keeping it running.