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NFTs Are Beanie Babies
- bearjaws 4y agoMy favorite part of NFTs is how celebrities were so quick to get in on the grift, updating their profile pictures, creating NFT domains, whatever they we're getting paid to peddle. Now that the high is over, all of them are deleting their relationship to NFTs and not looking back.
- rvz 4y ago> After literal hours of reading, I think I know, I also think I am going to cry. Why are you getting so upset over JPEG NFTs? 90% of all of these NFTs, especially the JPEG ones and projects will collapse. Let me guess the template complaint: 'Grifters grifting on top of the entire grifting market?'
- Deegy 4y agoNFTs are a very broad category of digital property whose ownership is proven and accounted for by very secure blockchains. 99% of NFTs that exist today will eventually be worth 0. That said, I think it's short-sighted to be writing them off altogether at this point in time. If you're interested in seeing examples of NFTs which may continue to hold and grow in value over time dig into the 1/1 and generative art world and take a look at what is going on there now. It's very different than monkey jpg's and celebrity NFT grifts.
- Jaepa 4y agoSo hot take, I firmly believe NFT's at this is point an utter scam. Digital property unlike physical property can be trivially & exactly replicated. That principle is what the entire web is based on. Downloading webpages, images, streaming media, et al are all based on creating an exact copy of the source material on the local machine. The only part that is different is the shared record, which _does not_ prove ownership. It proves that you have the private key for a token, but there is no ownership inferred beyond that of the token. I do think there was potential for NFT's, particularly banal single use uses¹. But at this point it has become such a parity of itself I can't imagine any use getting any traction². 1: the best example I can think of this is postage for email. Create a token of the hash of an email sender/email receiptant/email subject & body & a timestamp of when the message was /will be sent. Then include the location of this in the email headers. 2: There is also the massive environmental impact. I don't think it is morally sound to support any type of NFT based system at this point.
- sschueller 4y agoI can't just copy/paste a Beanie Baby although someone with enough skill and tools could create an exact replica of a Beanie Baby and there would be no way to tell the difference. At least you can verify if an NFT came off a specific contract not that it really matters.
- ronald_raygun 4y agoyeah, but people can just steal people's digital art and mint fake nfts
- rhn_mk1 4y agoIs it any more stealing than saving the digital art on your own computer? The dude who sold you the bridge, did he steal it?
- Isamu 4y agoOne of the things to like about the Bored Ape Yacht Club characters is that they are deliberately satirizing the buyers. An ape because it is non-thinking, with stupid money to spare, buying an NFT out of boredom rather than interest. Actually making fun of the buyers, your customers, isn’t a new thing in art but this is a particularly apt example.
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- boardwaalk 4y agoThis seems a bit insulting to apes, honestly. I’m pretty sure I’ve seen experiments that have shown non-human primates to be discerning with respect to cost/reward calculations.
- drewcoo 4y ago> An ape because it is non-thinking First, you're an ape. As am I and all other humans. Second, the other great apes score high IQs: https://www.sciencedaily.com/releases/2006/08/060801231359.htm https://www.sciencedaily.com/releases/2006/08/060801231359.h...
- sleepybrett 4y agoThey aren't even beanie babies, at least you can give a beanie baby to a child to play with.
- charcircuit 4y agoYou honestly don't get it. It's a digital item so you need to use a computer to play with it. No one expects to be able to play with fortnight dances in the real world. They expect to be able to use them in a game. A child can "play" with an NFT using a computer.
- JohnTHaller 4y agoI'm not sure if staring at a monkey jpg counts as "playing".
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- sudosteph 4y agoMy mother found some of my old ones in storage and gave them to my 5-year-old niece to play with. We laughed because the first thing my niece did: pull all of the tags off! It's kind of nice that she gets to enjoy them as just plain toys, instead of "collectibles".
- btown 4y agoFor the future reference of anyone wanting to write text-replacement addons, using one of the techniques here https://stackoverflow.com/a/50537862 https://stackoverflow.com/a/50537862 rather than simply doing `body.innerHTML = body.innerHTML.replace(...)` will avoid the problem of breaking links/scripts/CSS that happen to have your target phrase in the URL. Be kind to your DOM!
- pru567 4y agoNFTs are art-projects, status-symbols, patreons, access keys (conferences/private discords), and an experiment in IP law (as owning a Bored Ape confers merchandising rights.) The space is more interesting than just jpegs.
- leifg 4y agoSo using the access key as an example: If I buy an NFT that grants me access to a very exclusive conference, how can I be sure that security will actually let me into this conference? Or how can I be sure at the time of purchase that the conference will actually happen?
- pru567 4y agoNo one can be absolutely certain of a future event, but you are being unreasonably negative.
- leifg 4y agoOk what’s the advantage of an NFT over a regular ticket then?
- giaour 4y agoYou would need to have a preexisting trust relationship with the issuer of the NFT. If it was originally minted with a keypair known to belong to the conference organizer or a trusted third party TicketMaster, then it'll probably be honored at the venue. If not, caveat emptor.
- arisAlexis 4y agoYou mean NFTs as tickets? NFTs as official driver licenses? Etc? Or hating on the use case of art while never having attended an art gallery showcasing a tin can that costs 5million?
- sydd 4y agoNFTs as you pay top dollar for a random hash string. Because thats what you get. At least you can give the Beanie Babies to your kids to play with them when the market crashed.
- arisAlexis 4y agoBelieve babies were not art. In any case my point (very obvious) was that NFTs have many usages and this is only one of them.
- ComputerCat 4y agoJust got super nostalgic for my Beanie Baby collection!
- xnx 4y agoNFTs are more like baseball cards.
- oceanghost 4y agoThis meme is MONTHS old. I think "Internet Today" on YouTube used the phrase... 6 months ago.