The Official NFT thread? (let's not miss the next big thing)

[Neo. The Only. The One.]

Title says it all. I let bitcoin and everything else pass me by.

Not doing it this time. I only understand the bare basics of NFT but I'm willing to learn more, and hopefully we can share info with each other, brehs.

 

[Ol’Otis]

Subscription!

 

[Grizzly]

Best video I've seen explaining NFTs

 

[Neo. The Only. The One.]

Best video I've seen explaining NFTs

Thanks bro I just had an idea on what to list for sale. Could smooth make 10-20k immediately if done correctly.

 

[.r.]

..

 

[DamienWayne]

In

 

[Ineedmoney504]

In

 

[El_Mero_Mero]

I first heard about them with art, then basketball highlights, then WWE highlights, and I'm curious to see what's next.

It's interesting, but I don't really care much for it though. Stocks, ETH, BTC seem more useful to me. It doesn't mean that I won't try to flip an NFT if the opportunity is there (and it seems like it's there), so I'll be checking this thread.

 

[Neo. The Only. The One.]

Over the past 2 days, I've seen some incredible arguments against NFT, but the arguments really help you understand what's going on. (Almost like a reverse engineering of knowledge, if you will)


No, Real World Ownership Is Not a Use Case for Blockchain

No, Real World Ownership Is Not a Use Case for Blockchain

Leif Gensert
May 16 3 my last post with a supply chain management example. But the use case proposals go much further than that.

Beyond the supply chain a lot of startups try to implement a use case around recording and transferring ownership of something. After all that’s what cryptocurrencies are all about, so why can’t we do that for everything. One example I’ve seen multiple times is recording ownership of art or luxury goods.

Let’s think this through with an extreme example. Assume we have a globally accepted blockchain that records all art transaction. The whole world went through a rigorous process and we recorded all past transaction and issued keys to the rightful owners. The French state now has a private key with which they can prove that they own the Mona Lisa and they also recorded on the blockchain that the piece is currently on display in the Louvre. Within this process we avoided silly scenarios like some rando suddenly owning the Mona Lisa. The initial migration was a success.

I personally believe that is already a pipedream but bear with me.

Think of this scenario. The French government has a top notch security protocol in place to secure the private key to the ownership of the Mona Lisa. But we have a change of government and some high ranking government official gets corrupted. They have access to the keys and he uses them to transfer the Mona Lisa to one of his rich buddies Joe Shmoe.

What happens now? According to the blockchain Joe Shmoe is the rightful owner. Can he just enforce that ownership against the French government and force the Louvre to move the Mona Lisa to his beach house in St. Tropez? Or can the French government force him to reverse the transaction. But what if he is smart enough to destroy the private key? Transferring ownership at this point becomes virtually impossible.

Hit the link for the full article. It's worth it, and he raises some EXTREMELY valid points. I'm sure it's not gonna slow down the gravy train tho. One thing I've learned is that no matter how much common sense may be against it, money and greed somehow finds a way to prevail

And I saw this tonight on Twitter




























Again, insanely great arguments, but I fully expect NFT to persevere and keep growing.

 

[Neo. The Only. The One.]

Great video brehs

 

[humminbird]

I'm really curious where we're going with this
for example the lady that sold her nft house for 500 mil
where do these play into the integration of tech and real life through AR
the potential is huge
I'm still waiting for NFT pokemon cards to drop

 

[Neo. The Only. The One.]

I'm really curious where we're going with this
for example the lady that sold her nft house for 500 mil
where do these play into the integration of tech and real life through AR
the potential is huge
I'm still waiting for NFT pokemon cards to drop

Man, wait till I get my Charizard and then resell him for $100k


Yeah, man, the potential is huge, but what's even bigger is the actual blockchain. I've been focused on learning that lately because from what I'm understanding, that's going to be the next phase of the internet.

This whole thing is fantastic to think about. I'm sure there's a way for tech-inclined brehs to get involved. I'm just trying to figure out how I want to jump into it.

I've been thinking about mining coins, but those gas costs are gonna make me lean back like

I don't know if it's worth it to be a miner and have to pay an out of control electric bill.

So as of now, I'm still learning and being patient until I see the right opening.

 

[CopiousX]

I’m a little confused tho. What is the overall value of an nft for normal people who don’t have clout to sell their art? I’d understand if you were a modern day Da-Vinci because you could instantly get an audience for your art (plus you get perpetual royalties) , but for normal people; this doesn’t seem much different from the traditional “starving artist” path. As a solution to this, an unknown artist could spam simple clip art type-of-work. But clip art isn’t typically resold, which negates the need for an NFT solution, as opposed to traditional media.


I sense a similar issue for 3rd party traders. At a higher price range, I could see the value of investing $50k in an original NFT from a big time artist and waiting for that thing to appreciate, but as 3rd party at the local lvl, this just seems like speculation to be buying random art from unknown people. And speculation is not investing. The only work around for this would be something like a derivative (typically seen in financial debt markets), where you can gather a bunch of trash assets ( like subprime loans) for cheap and resell them in a group, where they magically become a higher grade derivative/asset due to them offsetting individual risk. But this confuses me also, because setting such a thing up would require similar capital to just buying a high priced NFT from a star artist.



Overall, it seems like the main motive to invest in NFT work stems from the circular reasoning that “one gets to invest in NFT work”. But I feel like I’m missing something here. Please forgive my ignorance. Can any of y’all blockchain Brehs, clear this up for me?.

 

[MostReal]

I think this shoe is going to be big.
Word of mouth and performance are excellent and they are so stylish and good to wear that it's nothing for someone to ask where can they purchase a pair. I think goes public in September. I'm jumping in on it early.

Swiss shoe company ON Running to prepare for IPO as early as September | Seeking Alpha