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Even if that’s the case, does anyone think procedurally generated computer art of Bored Apes would be worth even a fraction of a few dollars if it wasn’t for cr

Even if that’s the case, does anyone think procedurally generated computer art of Bored Apes would be worth even a fraction of a few dollars if it wasn’t for crypto marketing making people believe they can sell it for much more? In other words, the only value these things have is the belief that a bigger sucker will come around who will pay even more for it. And has it actually been copyrighted with the USPTO and the various copy protection agencies across the world? Because if not, then who will actually enforce it and what legal backing does that copyright have? And if it has been copyrighted, then what value does putting it on a blockchain add when the copyright enforcement is being maintained by the same entities that would have done it if it was on Shutterstock?

GuB-42 4y ago
Speculation is one thing, and I think it is what drives the costs to such ridiculous extremes. However, I don't think it explains all of the value. First is the art itself, probably not worth much considering that it is rather generic and partly generated art, but some people may actually like it. Then there is the idea of being part of something big. Some people think that NFTs are revolutionary, that in the future, this is what will represent property, more than a paper in some administrative office. Owning a NFT now is like owning a piece of history. And there is also this idea that many collectors share that if it is rare and unique, it is worth having, and apes are rare and unique. I know some collectors who spend thousands on collectable items, like video game cartridges or trading cards with no intention to ever sell them back. It is their treasure, it represents a lot of dedication and effort, they may have memories attached to it. It may sound stupid to outsiders but it is important.
- hnthrow1010 4y ago
  I would have no problem with NFTs if they were simply billed as a useless "collectible" thing sitting in an account that you can use as an excuse to show off how you donated to an artist. But from that perspective, you don't need blockchains or smart contracts; the only thing needed is a donations platform like Patreon. The ridiculous nonsense about how NFTs are going to be "rare unique property" and "an investment" is a pure grift. It is shameful to see artists repeating those lies just to make a dollar. You are getting nothing from them. At least with trading cards you technically do get a picture you can look at, and maybe you could use them for enjoyment to play a game. With NFTs you are literally getting nothing. They are designed to seize the minds of people who have that "collector" personality and take advantage of them.
lupire 4y ago
For BAYC and some others, it's not just the art, but also membership in a club that gets various privileges.

GuB-42 4y ago

Speculation is one thing, and I think it is what drives the costs to such ridiculous extremes. However, I don't think it explains all of the value. First is the art itself, probably not worth much considering that it is rather generic and partly generated art, but some people may actually like it. Then there is the idea of being part of something big. Some people think that NFTs are revolutionary, that in the future, this is what will represent property, more than a paper in some administrative office. Owning a NFT now is like owning a piece of history. And there is also this idea that many collectors share that if it is rare and unique, it is worth having, and apes are rare and unique. I know some collectors who spend thousands on collectable items, like video game cartridges or trading cards with no intention to ever sell them back. It is their treasure, it represents a lot of dedication and effort, they may have memories attached to it. It may sound stupid to outsiders but it is important.

hnthrow1010 4y ago
I would have no problem with NFTs if they were simply billed as a useless "collectible" thing sitting in an account that you can use as an excuse to show off how you donated to an artist. But from that perspective, you don't need blockchains or smart contracts; the only thing needed is a donations platform like Patreon. The ridiculous nonsense about how NFTs are going to be "rare unique property" and "an investment" is a pure grift. It is shameful to see artists repeating those lies just to make a dollar. You are getting nothing from them. At least with trading cards you technically do get a picture you can look at, and maybe you could use them for enjoyment to play a game. With NFTs you are literally getting nothing. They are designed to seize the minds of people who have that "collector" personality and take advantage of them.

lupire 4y ago

For BAYC and some others, it's not just the art, but also membership in a club that gets various privileges.