For the NFT disciples...

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Not a good look. Surprised to see this from established artists…



Not a project that I personally minted but people are understandably pissed. Despite the high mint price, the artists don’t seem to have done anything with the project and have only called it quits after OS reduced the enforced creator royalty to 0.5%.

The Goose sale leads me to believe NFTs may not be ded

Have been buying them since 2017. No money left to buy any, but if I were to would probably be art blocks stuff or punks. 

Yeh 100% this.
most of mine are trash 😂 thankfully no Edgar Plans ones 
But I do find them fun, and do see benefit over irl art especially relevant for younger generations. Also think they will be relevant in some gaming / tv / music etc. 

They are as dead as bitcoin has been hundreds of times. 

Whenever I think of NFTs, I think of those disaster movies, the ones where there's a nuclear war, a deadly plague, or the Conservatives have been voted in again. You know how there's usually a scene where they try to save some of the world's great artworks? Or there'll be some commander sitting in a compound, and they'll casually have a Basquiat or Monet in their quarters. Because they felt that artwork, even in the face of human disaster and adversity, even though you can't eat it, drink it, or shag it, was worth saving.

When I think of NFTs (or "art Pokemon cards"), I don't see people moving heaven and Earth to save them if there's a disaster. Nobody will commandeer a boat or a helicopter in order to save your NFT. The only people that will be demanding soldiers help keep the servers running will be those that have purchased and invested in NFTs. 

In my uneducated, humble, and old and grouchy opinion anyway.

Nfts were a scam for the most part. It worked for a little bit, but the jig is up. Anyone still releasing nfts might be be a legitimate digital artist trying to make a living, but it won't be easy going forward.

They need to rebrand the NFT into something else to lose that association to crappy art and scandal.

The bored Ape NFT acquired by Justin Beiber in January 2022 for $1.3 million is now only worth $59,000.

he didn't pay a penny for it. 

yeah agreed, obviously finding a way artists can create unique and one off pieces in a digital medium makes sense given all the creative possibilities be it, music, video, animation, whatever. But you're right people absolutely ripped the piss and probably squandered a lot of good will and potential. 

Thanks for the insightful post. Also think it’s a very interesting topic, thus thought worth asking. Also think that the time for looking at it is now versus the top, when many of the “oh muh god it’s a scam” we’re probably speaking of how great it was. 

will try share my thoughts a little re your points: 

- the whitelisting thing was terrible, but to be expected I think. Not much to do with NFTs but more just humans and greed. Whenever things get weird like that it’s usually a good signal to start reducing exposure. 

- Re the organic time to grow, it did have this, you (and most) just didn’t see it. Punks, the pixel things, were being traded for years before any real attention came to them or NFTs in general. It really did grow organically, and everything with it, but of course experience a bubble like almost all asset classes. 

- there are lots of third party products to display NFTs, one you might have heard of is Twitter. I guess you mean in the physical world, which I think takes more time. There are a few good examples (but most are horrid tbhaf). I have one at home I will share here tomorrow when I get back. Personally have never cared too much re displaying in meatspace as I think that’s less relevant for NFTs, although cool in ways too. 

- NFTs just had their second chance. So I assume you mean third chance. This all happened on a far smaller scale in 2017. You are right with regards the UI / UX though. It’s terrible. And although improved slightly over the years, it’s still shit and very difficult for new users. Self custody is hard, but comes with benefits. 
interesting point about trusted custodian, I don’t think it’s be a huge market, but maybe. They have them for crypto, and exchanges also act as such, but haven’t seen anything with NFTs as of yet. Will be interesting to see if such emerges. 

- I don’t know much re great expectations, but like the name, have one, and will do similar. 

In general I’m kind of surprised that most on an urban art forum are (at least from what I have seen) fairly anti NFTs. Fair enough, but I think anyone anti them is very wrong and will look silly in the next few years. I wasn’t alive at the time, but I assume there would have been lots of pushback from ‘art people’ towards eg Andy Warhol’s prints, and … urban art and graffiti when they were in their early days. 

sorry for all the words, just thinking out loud. 

Curious, how much is the Hirst Currency NFT selling for?

Edgar Plans NFT Lil Heroes / Lil Villains gone basically. CEO of the company f'd off with 2 lines announcement and Edgar Palns taking zero responsibility for the project - but yet still advertising his work and shows on it.