3 ms·

NFT is bullshit and doesn't address any of the problems that surround content creation. Creators who push NFTs do so either because they are sponsored in the ba

NFT is bullshit and doesn't address any of the problems that surround content creation. Creators who push NFTs do so either because they are sponsored in the background (paid a lump sum in fiat to engage with NFTs) or have direct involvement in the market and would like to benefit from the (temporary) speculation bubble. That bubble has now died and so will NFTs.

omeze 4y ago
Im discussing in good faith here (and used to watch Giant Bomb religiously back in high school, and remember how the Gamespot \ Giant Bomb schism occurred). There are many creators who use NFTs perfectly well to raise money for their work (like the guy that creates the excellent Blender donut tutorials), and use simple fixed prices to monetize (not auctions, so speculation has nothing to do with it). Please dont be rude.
- Nextgrid 4y ago
  What do NFTs bring to the table that can't be achieved by just taking payments in crypto?
  - fknorangesite 4y ago
    What does taking payments in crypto bring to the table that can't be achieved by just taking payments in regular currency?
    - Nextgrid 4y ago
      True but I wanted to preempt the point that NFTs are independent of payment platforms & their censorship. Which is true, but so is "boring" crypto without NFTs.
zeroclip 4y ago
The bubble dying is the perfect opportunity to re-examine the technology and determine whether it is a suitable means of freeing artists and creators from the problematic revenue models of major tech platforms. I pointed to the artist omentejovem in another comment[1]. [1] https://foundation.app/collection/shapesncolors?sortOrder=DEFAULT https://foundation.app/collection/shapesncolors?sortOrder=DE...
- mrtranscendence 4y ago
  Let's say my bread and butter is making video essays. What do NFTs bring to the table that would make it so I don't have to rely on the revenue model of a major tech platform? Somebody has to host and serve my videos, and it's probably going to be a major tech platform. I could make an NFT that points to my video once it's hosted, I suppose, but I'm not sure that's a sustainable revenue stream ... I'm still going to want Patreon, merchandize, and video sponsorships.
  - zeroclip 4y ago
    Hypothetically: if an audience is paying for your digital content or paying to support you on Patreon, they could instead pay for your content through crypto - if they are so willing and have it at their disposal. Aside from the lower fees you’d also be your own payment processor - more resistant to censorship, less platform lock-in, ability to self-host your content. Same applies to selling digital assets on Bandcamp or running a Kickstarter campaign. If your audience is unwilling to pay for your content or support you financially, and unwilling to pay a platform fee like with Netflix, then you might be stuck with monetizing through ads.
    - Nextgrid 4y ago
      But that’s merely cryptocurrencies, not NFT. What does NFT bring to the table that just using cryptocurrencies doesn’t?
      - zeroclip 4y ago
        In a Bandcamp-like platform, the NFT would be a proof of purchase. When a user purchases your digital NFT album, they can at any point sign a message to get a link to the MP3 or FLAC files. In a Patreon-like and Kickstarter-like platform the NFT might be used just the same, as a proof of purchase to access special content. Or, it could be used as a token or badge of appreciation, such as for being the first patron or a 1-year-continuous patron. The same way GitHub profiles show achievements and who the user is sponsoring. In digital art platforms NFT is as it is already being used: certification and scarcity. There’s other applications like streaming payments with vesting schedule: https://github.com/ourzora/faucets https://github.com/ourzora/faucets

omeze 4y ago

Im discussing in good faith here (and used to watch Giant Bomb religiously back in high school, and remember how the Gamespot \ Giant Bomb schism occurred). There are many creators who use NFTs perfectly well to raise money for their work (like the guy that creates the excellent Blender donut tutorials), and use simple fixed prices to monetize (not auctions, so speculation has nothing to do with it). Please dont be rude.

Nextgrid 4y ago
What do NFTs bring to the table that can't be achieved by just taking payments in crypto?
- fknorangesite 4y ago
  What does taking payments in crypto bring to the table that can't be achieved by just taking payments in regular currency?
  - Nextgrid 4y ago
    True but I wanted to preempt the point that NFTs are independent of payment platforms & their censorship. Which is true, but so is "boring" crypto without NFTs.

zeroclip 4y ago

The bubble dying is the perfect opportunity to re-examine the technology and determine whether it is a suitable means of freeing artists and creators from the problematic revenue models of major tech platforms. I pointed to the artist omentejovem in another comment[1]. [1] https://foundation.app/collection/shapesncolors?sortOrder=DEFAULT https://foundation.app/collection/shapesncolors?sortOrder=DE...

mrtranscendence 4y ago
Let's say my bread and butter is making video essays. What do NFTs bring to the table that would make it so I don't have to rely on the revenue model of a major tech platform? Somebody has to host and serve my videos, and it's probably going to be a major tech platform. I could make an NFT that points to my video once it's hosted, I suppose, but I'm not sure that's a sustainable revenue stream ... I'm still going to want Patreon, merchandize, and video sponsorships.
- zeroclip 4y ago
  Hypothetically: if an audience is paying for your digital content or paying to support you on Patreon, they could instead pay for your content through crypto - if they are so willing and have it at their disposal. Aside from the lower fees you’d also be your own payment processor - more resistant to censorship, less platform lock-in, ability to self-host your content. Same applies to selling digital assets on Bandcamp or running a Kickstarter campaign. If your audience is unwilling to pay for your content or support you financially, and unwilling to pay a platform fee like with Netflix, then you might be stuck with monetizing through ads.
  - Nextgrid 4y ago
    But that’s merely cryptocurrencies, not NFT. What does NFT bring to the table that just using cryptocurrencies doesn’t?
    - zeroclip 4y ago
      In a Bandcamp-like platform, the NFT would be a proof of purchase. When a user purchases your digital NFT album, they can at any point sign a message to get a link to the MP3 or FLAC files. In a Patreon-like and Kickstarter-like platform the NFT might be used just the same, as a proof of purchase to access special content. Or, it could be used as a token or badge of appreciation, such as for being the first patron or a 1-year-continuous patron. The same way GitHub profiles show achievements and who the user is sponsoring. In digital art platforms NFT is as it is already being used: certification and scarcity. There’s other applications like streaming payments with vesting schedule: https://github.com/ourzora/faucets https://github.com/ourzora/faucets