I’ve literally just bought eth on my hsbc card?

guess who never has to work another day in his life...





and thats just the open editions...

I fully expect to see GM rolling around ATL in a new lambo any day now. 

This is all really crazy and definitely a massive bubble. I have one of his first prints and edition of 20 from ‘09. This print is worth maybe $300? If that. What’s wrong with this picture?

You must prefer Lucille Two.

Binance does make it expensive to withdraw. I think they just want to push their new smartchain.

I used to dismiss Coinbase as being wack as hell and if you're buying with a card the fees are ridiculous.

Use Coinbase Pro, the fees are way cheaper than Binance.

Bank transfer > Coinbase > Coinbase Pro

Exit Through The Gif Shop.

Agree that this is a very interesting subject and for most part nobody has any idea what's going to happen. 

With more physical artists getting into NFT, what happens to the mid career hot artist who's getting $15-20k for a canvas when they drop a 1/1 NFT and it sells for $150k? Does their canvas explode in value or are they 2 totally separate markets? What happens when Damien Hirst drops a NFT and a 1/1 only sells for $100k when he'd get 10x for the physical? 

Greg mike is a perfect example and interesting case. I mentioned it before but I've got a 1 of 20 GM print from his first release that's probably worth $500 tops? Even if it's worth $1k how does this make sense? He just sold 1/300 NFT's for $2k which are now $10k on secondary. 

Your guess is as good as mine! The thing I’m gradually learning about the majority of art valuation, is that it rarely makes any sense.

You might want to hold on to that Greg Mike edition a little longer 🤙 (Just in case!)

This all sounds completely bonkers, therefore I’m sure it will catch on.

The art market is notorious for shill bidding and creating non-existent hype, so this seems a match made in heaven.

Personally I long for a life less binary. I spend enough time looking at screens, the last thing I need is for my art to be digital as well!

Nifty runs on Ethereum and you can transfer NFTs out of it to your own wallet. They are a standard token type. I can go in to more info if anyone is interested

And you are right about topshot it's closed to transfer at the moment - not to mention they only allow cash out to US bank accounts right now.

If you meet a gorgeous woman at bar and the first thing you think of is to show off your NFT collection then you are doing life wrong.

NFT art shouldn’t age well. New styles come and go in the art world. But when technology moves forward, will people be paying a lot of money for a “low quality” gif from 15 years ago?

Or have I missed the point completely?

No one's mentioned smells yet. A gif running on a small screen won't cut it. I went back to records after 20 years of CDs/mp3's because nothing beats the smell of warm vinyl...

OK I have been biting my tongue but after Gondek's highly successful drop (by the financial looks of it) I just do not get it at all...

This weekend Gondek dropped 6 items that fell into 4 categories:

A. Open edition which was basically a digital file
B. Open edition part 1 of 3. If you buy all 3 you get a free surprise. Encourages buying all 3 or buying older ones at #2 or 3 creates future demand.
C. A raffle to win 1 of 5 digital sketches
D. Three 1:1 paintings. These were copies of 3 canvas works he already produced.

The three 1:1 paintings you get a "blockchain" and a giclee print of basically his Procreate planning sketch. There is no description of what this giclee print is or the size but I would assume it is no bigger than 24x30". In each of these cases there is a physical painting that exists. Each one has hundreds of hours putting paint to canvas and arguably there was more time painting the canvas than the procreate sketch. You cannot fix mistakes as easy and there is something physical there... In my humble opinion I would MUCH rather have the physical painting and a paper COA than the 1:1 digital print and a blockchain. In the case of the NFT on gondeks latest drop I really consider them copies of the original painting since they came after the paintings that were already sold through a gallery. It also seems a bit unfair that he resells a painting via NFT that a gallery helped him promote and sell the first time. Yes he owns the copyright and has the ability to do with it what he wants but he still has an obligation to his collectors and gallery representation. Again just my opinion. The crazy thing is the NFTs sold for more than the ACTUAL paintings. In some cases more than 2x. If anything it seems like the NFT increased the value of the painting by orders of magnitude.

I am ALL for NFTs if they truly are unique but for me I do not see the appeal of owning something that as already been done and done BETTER.

The other thing that is very odd is if you look at the "winners" of some of the items they were fellow artists or friends. In other cases I noticed the artists themselves still own a couple of the NFT's and the 1:10 versions etc. Like they held them back for when the market gets "hotter" seems a bit shady and unethical. If you are saying you are selling 10 then the 10 should be sold you should not be holding one back for future gains.

The open editions with a timed drop also is not an "open" edition...

I guess you can go on an on about this. I think there is still a lot to be figured out here some things will be very successful but more will lose their value because people were prospecting a bit too early.

SO after all said an done here is my question to you. Pick A or B.

A. Original canvas painting 4' x 5'. Acrylic on canvas. 100+ hours of work with a paper COA
B. NFT of same painting. Blockchain code and a digital print of the Procreate planning sketch (lets say 2' x 3').