NFTs

Out of context: Reply #77

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  • colin_s0

    Would this eventually lead to something like the Art World "establishing" these sorts of tokens by utilizing them as verification into a permanent collection?

    Like, MoMA or something buys the specific rights to a certain token and that sets the precedent for them being more socially accepted?

    Either way these things feel more like snake oil than anything

    colin_s 0Permalink
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    • you own an entry in a database... nothing more nothing less... snake oil might have at least contained menthol or cocaine back when snake oil was sold.jonny_quest_lives
    • just thinking about broader implications of this as the Art World loves a good marketplace but seems antithetical to what this iscolin_s
    • one of the great things for creators is the commission aspect added to the blockchain, so every time an asset is bought or sold you get a royalty specifiedfadein11
    • at the minting stage which is there for life. Blockchain tech isn't snake oil, this latest rush on NFTs may be a bubble but the tech is here to stay.fadein11
    • its a fucking consensus log on a linked list verified by proof of work... everybody is getting high on their own supply.jonny_quest_lives
    • if anything it just ups the network fees for ethereum.jonny_quest_lives
    • the art world has no use for this kind of system, as this system has nothing to do with actual ownership.grafician
    • you own at most the metadata, which is useless, but ppl buy it for various reasons, not of which currently has anything to do with art.grafician
    • You could see MoMA display nyan cat as a part of "internet art" but owning nyan cat nahgrafician
    • there are a lot of old digital/video flash art installations that currently have zero value and can't be even displayedgrafician
    • NFTs will have the same faith, unless something changes in the actual purpose of these and the "crypto art mania" recedesgrafician
    • "you own at most the metadata, which is useless, but ppl buy it for various reasons, not of which currently has anything to do with art."
      Well put.      palimpsest
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