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I think people on HN react to NFTs perfectly resaonably and I don't think you make a good argument about their value for creatives. As far as I can see NFTs at
by Traster 5y ago
I think people on HN react to NFTs perfectly resaonably and I don't think you make a good argument about their value for creatives. As far as I can see NFTs at the moment have done nothing for creatives getting paid. As you point out - we have solved the problem of creatives getting paid for their work, they can sell their work, they can take commissions, or they can use patreon or similar sites. I would bet that at the moment the commission that shopify or patreon are taking are much more creator friendly than paying to mint an NFT. You say that NFTs provide a new way to interact - but what is that interaction? What does an NFT give me that sticking a badge on a shopify store saying "Creative ownership of peice of work X" does not? And I don't see how that problem has anything at all to do with being gamified?
>Never in history has anyone been able to buy shares of highly coveted art... maybe now you can
Well, firstly, let's be clear that it's highly contentious whether you meaningfully own the art if you own an NFT. But let's assume that's a solved problem. YOu can already buy shares of highly coveted art - https://www.masterworks.io https://www.masterworks.io . It's exactly the same model as NFTs - some individual buys the actual art, then they offering to sell "shares" of the art. The difference is that Masterworks doesn't carry all the risk of being scammed in the crypto market.
- X6S1x6Okd1st 5y agoJust because patron exists doesn't mean alternative revenue streams are useless
- madeofpalk 5y agoRight but where's the "creativity" of the solution that NFTs supposedly bring? Or is it just the same as Patreon (no creativity or uniqueness at all) but just more complex and potential downsides?
- casi18 5y agoI mean for one, a patreon staff member who doesnt like you for some reason cant just ban your nft account. That seems like a pretty good starting point.
- madeofpalk 5y agoCan't OpenSea just ban people and artwork all the same?
- casi18 5y agoyou can deploy your own contracts, no-one can stop you.
- madeofpalk 5y agoRight in the same way you can just give cash to someone, no one can stop you.
- twox2 5y agoIt will still be on the chain though.
- X6S1x6Okd1st 5y agoresale and the secondary sale cut (that goes to the artist) is fundamentally different than patreon. Not to mention the take rate can be arbitrarily low
- madeofpalk 5y agoWait but it’s about supporting the original artist, no?
- X6S1x6Okd1st 5y agono not entirely. Even patreon gives benefits in exchange for payment. It's just very different benefits. are you really engaging in good faith?
- motioncuty 5y agoFor me, as a creative, its the first and easiest way I have ever published my work.
- Daishiman 5y agoThen you weren't looking anywhere.
- weberer 5y agoFeel free to list some examples.
- Daishiman 5y agoDeviantArt and BandCamp aren't good enough? They don't have literally millions of eyeballs?
- dropnerd 5y agohow much are artists being paid on deviantart?
- lottin 5y agoCan you just publish your work on Instagram or similar site? I don't think publishing has been a problem since a long time. People are publishing their own books.
- weberer 5y ago>Can you just publish your work on Instagram or similar site I don't see how you can make money that way. >People are publishing their own books. Now this, on the other hand, has a clear solution. You can simply put your epub on Amazon for $10 or so. There's no equivalent that I know of for art. For whatever reason, people are more willing to buy digital text than digital images.
- twox2 5y agoFor one, NFTs for the most part have a perpetual royalty built in that's paid to the creator.
- NicoJuicy 5y agoYour base assumption is entirely wrong. In most cases the creator of the NFT != the creator of the artwork.
- twox2 5y agoSource?
- wombat-man 5y agothere's nothing stopping you from minting an nft for any image afaik.
- weberer 5y agoBut then nobody would buy that. The value doesn't come from the image, but the combination of the image and the digital signature attached.
- serverholic 5y agoNFTs are selling a much more personal connection with the artist. Buying merchandise or subscribing to patreon is much more impersonal. There is also a sense that you own something. You can show people your NFTs. Masterworks is centralized. You rely on Masterworks for everything, whereas you can buy NFTs from a number of competing sources.
- rory 5y ago> Masterworks is centralized. You rely on Masterworks for everything, whereas you can buy NFTs from a number of competing sources. Just because there are multiple NFT companies doesn't mean they are decentralized. Can I buy an NFT on one platform, then sell it on another?
- twox2 5y agoYES!! NFTs are just a smart contract standard. Look at OpenSea. It's the google/ebay of NFTs on Ethereum. They are all interchangeable.
- rory 5y agoGood to hear! Digging a little more, it seems like the answer is sometimes yes. In this thread NBA Topshot is excluded: https://old.reddit.com/r/ethereum/comments/m1mb0s/can_someone_explain_the_transferability_of_nfts/ https://old.reddit.com/r/ethereum/comments/m1mb0s/can_someon... Is that thread correct? Is the general theme that corporate NFTs don't truly decentralize, but small players and committed crypto people put their NFTs on Ethereum so they can be moved around?
- twox2 5y agoCorrect, some "corporate NFTs" are run on their own chains, etc. This is why most of the price action is on Ethereum. Assuming you are somewhat technical, you can read about the actual smart contract standard, it's called erc721.
- lottin 5y ago
- web2sucks 5y agoAre you serious? Artists aren’t getting paid? XCOPY a London based artist has made over $10 million on royalties from his NFT artwork. Please supply evidence to back up your bogus statements. NFT provide trust less royalties directly to the creators wallet with no middleman. Source: https://xcopy.art/ https://xcopy.art/ https://superrare.com/artwork-v2/dankrupt-29757 https://superrare.com/artwork-v2/dankrupt-29757 Here’s another artist, Clon, he used to barely sell physical art at festivals, now he’s a multi million dollar art studio, because of NFT royalties. https://twitter.com/cloncast/status/1457425724860633090?s=21 https://twitter.com/cloncast/status/1457425724860633090?s=21 Most people on Hacker news aren’t doing an ounce of research into the potential of NFTs and it’s clearly recognizable when i read all these comments. Reading a few articles by Bloomberg is not sufficient. You will all be left behind.
- aj3 5y agoYour last sentence reads like FOMO. Not sure if it's intended, but it seems that you are making an argument for NFTs as a tool for speculation.
- meheleventyone 5y agoHow many artists mint an NFT and don't even make back the minting fee because their art doesn't sell?
- guax 5y agoAre people buying art or speculative tokens? This is horse betting with extra steps. Absolutely fantastic for them that they're getting paid for their work, but considering this as sutainable or something that can be achieved by any artist outside of the NFT betting bubble is naive.
- Traster 5y agoLet me ask you, let's say that I get one of these artists to draw up a contract and sell me one of their peices of art. Do you think it will command the same value, more value or less value than the equivalent NFT associated with it? Becuase I take a look at this and it looks to me like all of this commercial activity has basically nothing to do with the art. I would kind of get it if you pointed to me to a guy whose selling peices of art for a few bucks, maybe $50-100 and selling a decent number of them who you know... like the art. But what market is this? These aren't art collectors who are just using the new medium is it. They're not fans of the art. They don't have thousands invested in traditional collections. They're not going to buy the same art, but off-chain. So is this really anything to do with paying artists at all? Who are these people who are suddenly rushing to pay thousands of dollars to artists? Is this "StarryNight" who paid $2000 for this NFT excited to be supporting xcopy. Or is it the account of the venture capital fund of the same name? That's not exactly the story of giving power to creators that we were being told is it? I think the problem here on HN is actually the opposite of what you're stating- the second you do do an ounce of research these claims start looking more and more fishy.