A big bunch of people have made 1 to 10’s million USD in ethereum and don’t yet want to flip back to fiat. NFT art is a way of diversifying and/or feeling good. Will it work? No idea but as long as Eth keeps rising I think NTF is only getting bigger. $25m for Beeple in Christie’s seems about right

Wow, thanks for this topic. I'm pretty deep into crypto but after Cryptokitties I always assumed NFT's were mostly just a media attention generating meme, and never really looked into it. It's really interesting to see if this takes off mainstream. I'm trying to think of ways of how to actively 'display' NFT art that would give me the same feeling as looking at my framed paper pieces. I might just be a bit too boomerish for that, haha.

But given how the market for in-game transactions has exploded the past few years, I can really see gen-Z, that had all this technology from the time they were kids, be really into this and find ways to 'display' their NFT-art. Fuck this is cool.

NFT. It is not stopping. People paying 2k to have a pokemon card appraised. Kept in a folder. Or a non fungible token equivalent data stored on the blockchain forever, always mint condition.

Collectibles will be first.

Not long after these kids will hang tv's as picture frames and before you know it someone is paying £3 million for a nft to hang in his new house off his bitcoin gains.

What do you think they thought of us buying banksy when it was just street art.

Buy some bitcoin, buy eth. F$%k the banks. It is the only way we win

I’ve been a long term cypto user but I really think these are a bit stupid. They do however definitely appeal to a completely different type of end user to most of us on here.. so I guess horses for courses !

erc721.org/

This is more than just art. Some of the stuff being done is revolutionary. It will have massive implications for the way artists claim royalties. Provenance. Ownership/Distribution Rights. Insurance. So much more.

There is so much much more though. Ethereum is amazing not because the price goes up. A community are building an open source decentralized web 3.0. Anyone can join in. Take a look try it out. Be your own bank.

Peace

It’s easy to say be your own bank but until you can live your life solely using crypto currency it’s pretty difficult to live like that. Personally I think we are miles off being able to buy bread, milk and a newspaper with crypto, if ever at all.

Flipping means buying something and selling it quickly for a profit. It’s flipping whether or not the artist gets a cut, though yeah it’s a little less toxic if they do.

Anyone seen a project with high artistic value?

That’s not necessarily true is it. We all know the name is relating to a clever play on pest control, if the name was “Sheila from down the road” would they have sold so many ? No.

Why an Animated Flying Cat With a Pop-Tart Body Sold for Almost $600,000

In the 10 years since Chris Torres created Nyan Cat, an animated flying cat with a Pop-Tart body leaving a rainbow trail, the meme has been viewed and shared across the web hundreds of millions of times.

On Thursday, he put a one-of-a-kind version of it up for sale on Foundation, a website for buying and selling digital goods. In the final hour of the auction, there was a bidding war. Nyan Cat was sold to a user identified only by a cryptocurrency wallet number. The price? Roughly $580,000.

Mr. Torres was left breathless. “I feel like I’ve opened the floodgates,” he said in an interview on Friday.

The sale was a new high point in a fast-growing market for ownership rights to digital art, ephemera and media called NFTs, or “nonfungible tokens.” The buyers are usually not acquiring copyrights, trademarks or even the sole ownership of whatever it is they purchase. They’re buying bragging rights and the knowledge that their copy is the “authentic” one.

Other digital tokens recently sold include a clip of LeBron James blocking a shot in a Lakers basketball game that went for $100,000 in January and a Twitter post by Mark Cuban, the investor and Dallas Mavericks owner, that went for $952. This month, the actress Lindsay Lohan sold an image of her face for over $17,000 and, in a nod to cryptocurrencies like Bitcoin, declared, “I believe in a world which is financially decentralized.” It was quickly resold for $57,000.

People have long attached emotional and aesthetic value to physical goods, like fine art or baseball cards, and have been willing to pay a lot of money for them. But digital media has not had the same value because it can be easily copied, shared and stolen.

Blockchain technology, which is most often associated with Bitcoin, is changing that. NFTs rely on the technology to designate an official copy of a piece of digital media, allowing artists, musicians, influencers and sports franchises to make money selling digital goods that would otherwise be cheap or free.

In an NFT sale, all the computers hooked into a cryptocurrency network record the transaction on a shared ledger, a blockchain, making it part of a permanent public record and serving as a sort of certification of authenticity that cannot be altered or erased.

Article continues here...


www.nytimes.com/2021/02/22/business/nft-nba-top-shot-crypto.html?action=click&module=News&pgtype=Homepage

I have been mining ETH for years with dedicated rigs and the mining reward does not change at all here beyond the regular ratio of fluctuation. If anything the daily/monthly ETH reward has come down over the past few months as it's $ value have risen... attracting more miners on the chain.

At least in a major earthquake your electronic art won’t be destroyed?

Ask someone from Zimbabwe how well fiat currency works in a time of hyperinflation.

I mean, if you prefer the reliability of knowing your money will be worth 737% less in a year:



I'd say they would love to have their money being paid out in a deflationary crypto like bitcoin, even with a little unreliable power and internet.