NFTs (thread now extremely NSFW)

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figured it's time for a thread outside the standard crypto one to post about NFTs. I see a lot of people making money off of them, but I don't like 'em (I've never been good at making money).

Currently they remind me of the "buy a star" type businesses, but idk

Bongo Jongus, Tuesday, 9 March 2021 19:44 (one year ago) link

Eat your heart out, Walter Benjamin.

pomenitul, Tuesday, 9 March 2021 19:48 (one year ago) link

I remember when I worked in crypto, encountering enthusiasts at meetups, the general perception among devotees was that it was going to be a force for economic equality. Turns out it's just another great way for the rich and well-connected to get richer! Who could have seen this coming???

stimmy stimmy yah (Simon H.), Tuesday, 9 March 2021 19:51 (one year ago) link

One for the human nature thread.

pomenitul, Tuesday, 9 March 2021 19:52 (one year ago) link

enh, I didn't take it as a matter of human nature so much as (once again, as we learn time and time again) there being no purely technological solutions to political problems

stimmy stimmy yah (Simon H.), Tuesday, 9 March 2021 19:55 (one year ago) link

I agree with that, obv., I'm just consistently impressed with how innovative we are at squandering our potential for justice.

pomenitul, Tuesday, 9 March 2021 19:57 (one year ago) link

out of all of the recent articles and lectures about NFTs that I've looked at, I've yet to see anything about them that makes them have any value other than people seem to be paying a lot of money for certain ones. So idk, is the fact that purchasers are seeing this worthless/pointless thing as being valuable enough for it to have a future?

Bongo Jongus, Tuesday, 9 March 2021 20:06 (one year ago) link

Reminds me of

https://en.wikipedia.org/wiki/I_Am_Rich

pomenitul, Tuesday, 9 March 2021 20:07 (one year ago) link

The only NFT’s I care about are Nice Fucken Titties

— Stavros Halkias (@stavvybaby) March 8, 2021

longtime caller, first time listener (man alive), Tuesday, 9 March 2021 20:24 (one year ago) link

yawn, pungent tokin'

it's a nice way for grimes to have her own mad money... so she doesn't have to keep asking what's-his-name

Andy the Grasshopper, Tuesday, 9 March 2021 20:39 (one year ago) link

I didn't mean to approach this in a purely negative manner, and I wanted this new (to me) promising way to sell/own art to actually be new/different, but I can't see it. Everything that tries to be convincing reads as gibberish to me

Bongo Jongus, Tuesday, 9 March 2021 20:50 (one year ago) link

this sucks bcuz it has absolutely nothing with art and everything to do with goobers that have bad taste and (like bitcoin) it will be a succeess and make goobers rich

kurt schwitterz, Tuesday, 9 March 2021 20:56 (one year ago) link

I think they are mostly dumb & bad. Sure, artists could use them to make a lot of money if 1) they're already successful and have a dedicated fanbase, or 2) they have a lot of rich friends/connections.

Sure, streaming to the whole world for micropennies didn't work, but that doesn't mean that going back to the patronage system is the answer.

change display name (Jordan), Tuesday, 9 March 2021 20:58 (one year ago) link

Maybe free market artificial scarcity is just a bad idea.

fajita seas, Wednesday, 10 March 2021 03:14 (one year ago) link

If I had a time machine I would use it to go back to the moment when I googled “NFT” and “crypto art.”

I would approach my past self and place my present hand on my past hand, taking it off the mouse.

“Don’t. Don’t ever. Knowing about these things will make you feel stupid that they exist. Forget these things. Look at porn or something. Live your life.”

Cow_Art, Wednesday, 10 March 2021 03:22 (one year ago) link

Beeple auction ends Thurs I think

calstars, Wednesday, 10 March 2021 03:31 (one year ago) link

This is stupid nobody should post about this including me

Canon in Deez (silby), Wednesday, 10 March 2021 03:33 (one year ago) link

NFT porn though - surely that's already a thing?

change display name (Jordan), Wednesday, 10 March 2021 03:36 (one year ago) link

simon h., kurt schwitterz, and silby otm. i will never be able to muster any reaction to things like this or bitcoin other than uncomprehending horror and disgust tbrrwu.

map ca. 1890 (map), Wednesday, 10 March 2021 03:36 (one year ago) link

All this really is is a way to create a digital certificate of authenticity. I guess that's ok but doesn't strike me as game-changing. I don't see it as a revolution for the art world, more like the creation of a somewhat pointless digital memorabilia market. I don't think there will be any significant market for non-celebrity-driven NFTs. I think there are enough silicon valley assholes, marks, bitcoiners etc. with unreasonably stupid amounts of money to keep sales of the more famous of these going for a while. Upper middle class people buy (non-famous) paintings and middle class people buy prints and posters because they make your home look nice. NFTs don't have any real world value along those lines, they're solely digital collectibles. And I get a bit of a Second Life vibe from the energy around them, which makes me wonder how long they'll really last as a phenomenon.

longtime caller, first time listener (man alive), Wednesday, 10 March 2021 04:25 (one year ago) link

I probably would’ve expected bitcoin to fizzle out by 2016 or so and here we are, fuck the earth

Canon in Deez (silby), Wednesday, 10 March 2021 04:26 (one year ago) link

xpost azaelea banks just did one of these for an "audio sex tape"

Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Wednesday, 10 March 2021 04:27 (one year ago) link

smh

pomenitul, Wednesday, 10 March 2021 04:28 (one year ago) link

I would just add to my previous comment: it actually makes me sort of sad to think about all the scams and grifts that have come to define the space, not because they weren't predictable (at least 50% of the major players to come down the pike since Satoshi, by my estimation, are/were full-on grifters or con men), but because I met a lot of people who really were hoping for a more ethical alternative to the financial system that had just screwed so many, and didn't (just) see crypto as a get-rich-quick scheme

stimmy stimmy yah (Simon H.), Wednesday, 10 March 2021 05:28 (one year ago) link

Yeah but it’s just a bad database

Canon in Deez (silby), Wednesday, 10 March 2021 05:29 (one year ago) link

There’s only one financial system

Canon in Deez (silby), Wednesday, 10 March 2021 05:29 (one year ago) link

you're preaching to the converted!

stimmy stimmy yah (Simon H.), Wednesday, 10 March 2021 05:46 (one year ago) link

I don't feel that sorry for people for credulously buying into the Esperanto of currencies.

longtime caller, first time listener (man alive), Wednesday, 10 March 2021 05:54 (one year ago) link

it's just that it's also causing global warming

Canon in Deez (silby), Wednesday, 10 March 2021 06:35 (one year ago) link

I hate them because they are based on this underlying idea that the blockchain is this eternal unerasable record instead of a disgusting waste of resources which needs to be declared illegal and dismantled asap

Bastard Lakes (Camaraderie at Arms Length), Wednesday, 10 March 2021 07:49 (one year ago) link

All this really is is a way to create a digital certificate of authenticity. I guess that's ok but doesn't strike me as game-changing. I don't see it as a revolution for the art world, more like the creation of a somewhat pointless digital memorabilia market. I don't think there will be any significant market for non-celebrity-driven NFTs. I think there are enough silicon valley assholes, marks, bitcoiners etc. with unreasonably stupid amounts of money to keep sales of the more famous of these going for a while. Upper middle class people buy (non-famous) paintings and middle class people buy prints and posters because they make your home look nice. NFTs don't have any real world value along those lines, they're solely digital collectibles. And I get a bit of a Second Life vibe from the energy around them, which makes me wonder how long they'll really last as a phenomenon.

A lot of it is very likely to be money laundering (like pretty much every cryptocurrency thing), or just financial speculation shenanigans - it's worth it for people to spend big to bolster the hype, as long as they can manage to sell what they bought for even more before the market crashes. I would be a little surprised if most of the hype doesn't die out before the end of the year, it doesn't seem to have the sort of longer term speculation potential as bitcoin does but idk

ufo, Wednesday, 10 March 2021 08:49 (one year ago) link

i cannot believe i had to write this. but.https://t.co/ZO3wQyQh1K pic.twitter.com/cau0kixLYB

— everest (@everestpipkin) March 3, 2021

Zach_TBD (Karl Malone), Wednesday, 10 March 2021 08:56 (one year ago) link

i had one digital acquaintance who appears to have gotten (even more?) rich off of this. she made the same gif over and over, a shot of a CRT TV screen, panning left and right, 500 different times over. lately she got really into the NFT scene and was early and made a bunch of money.

i guess at one stage in my life i might have tried. at this point, i shake my fist at it and say YOU DUMB FUCKS

Zach_TBD (Karl Malone), Wednesday, 10 March 2021 08:58 (one year ago) link

then again, i'm literally litsening to a simple twist of fate right now, so maybe it is i who is the dumb fuck

Zach_TBD (Karl Malone), Wednesday, 10 March 2021 08:59 (one year ago) link

my initial thoughts on NFT were that that some aspects of it were worthwhile goals: mainly, some sort of "ownership" over a digital file (and now, i realize, not just digital), some sort of means of tracking who made something. when i made more things, i would get really frustrated about seeing people use my things wholesale - boingboing does it like every 9 months and i always publicly whine about them. even though i'm sure they're wearing dirty jeans like i am.

but everest (see that tweet/medium essay) makes good points that acknowledge that but also make clear that this particular implementation of it fucking blows. i think i'm more optimistic about it than they are. but yeah, i follow some gif dude who has had a handful of his gifs already "minted" by someone else - i mean, what? is this just the first gold rush where you're a dumbass if you don't mint everything you made that might be valuable? ...or is everyone just a giant fucking asshole?

Zach_TBD (Karl Malone), Wednesday, 10 March 2021 09:05 (one year ago) link

you can browse through all the shit that's being minted. it's so bad. everything is bad. but i may be missing the forest for the trees. there are so many things being "minted" every minute, now. wtf does this mean? what if everything became minted? what if everything was auto-minted and part of a market, whether we wanted that or not? is there anything preventing someone from minting ILX as token? wtf am i even talking about? what a fucking asshole? what the fuck? see what i mean

Zach_TBD (Karl Malone), Wednesday, 10 March 2021 09:07 (one year ago) link

then imagine you visit this thread in 4 months and some jerk has made $45K off of it on NFT and you don't even know how

Zach_TBD (Karl Malone), Wednesday, 10 March 2021 09:09 (one year ago) link

anyway, maybe this will be the rare crypto thing that gets regulated, because now Giphy (I think owned by facebook?) is mad about NFTs using Giphy images (which are actually made by real people, not them) so they're issuing a very official Twitter "hey-quit-it" notification to all

Zach_TBD (Karl Malone), Wednesday, 10 March 2021 09:10 (one year ago) link

NFT's value is built upon an escalating equation that becomes more difficult to solve. as everest says:

...in a digital context scarcity must be constructed- there is nothing that demands the next block in the blockchain be harder to make than the last. If anything, the opposite should be true- computers grow ever more efficient and p"owerful. This means any scarcity is artificial, a process that demands ever more energy, ever more resources lost to continue to operate and return, for no other reason than to insure that tomorrow it will be even more expensive- which makes the wastefulness of today a good investment.

This is why cryptocurrency is valuable. There is nothing high-tech about it. There is no miracle. It is simply futures speculation without the speculation- no guessing required, because we know it will be more wasteful tomorrow; it is baked into the tech.
All that cryptocurrency does is abstract resources into a market by making those resources unavailable to the future.

right?

Zach_TBD (Karl Malone), Wednesday, 10 March 2021 09:21 (one year ago) link

I had an idea to make some gifs of giant warehouses of bitcoin computers turning into desolate post-apocalyptic wastelands and sell them as NFTs

Bastard Lakes (Camaraderie at Arms Length), Wednesday, 10 March 2021 14:42 (one year ago) link

Ethereum “has been moving” to proof of stake for almost as long as it has existed. It has been so long that “Eth 2.0 PoS Coming Soon!” is something of a running joke.

this really was a tremendous irritant when I was working "in the space"

stimmy stimmy yah (Simon H.), Wednesday, 10 March 2021 14:52 (one year ago) link

NFT's the only explainer you will need pic.twitter.com/2yM1LVh1Wk

— SPAC Lindzon (@howardlindzon) March 11, 2021

longtime caller, first time listener (man alive), Thursday, 11 March 2021 14:50 (one year ago) link

The digital art community is basically imploding right now as it has polarized into for and against jumping onto this train. People that knew nothing about this two weeks ago, are now cool with creating dox lists of other artists they think are on the wrong side. It’s pretty distressing.

Kim, Thursday, 11 March 2021 14:57 (one year ago) link

There was a company several years ago (a buddy briefly worked there) selling authenticated, digital sports trading cards... this is nothing newish.

Andy the Grasshopper, Thursday, 11 March 2021 17:26 (one year ago) link

the difference is that the blockchain stuff makes it extraordinarily inefficient & is solely responsible for all the hype & ridiculous money being thrown around

ufo, Thursday, 11 March 2021 21:11 (one year ago) link

https://www.wsj.com/articles/nba-top-shot-nft-crypto-digital-collectibles-11615266042?mod=e2tws

Bros with $200k to set on fire passing this shit around hoping to not be the last one holding

Joe Bombin (milo z), Friday, 12 March 2021 04:01 (one year ago) link

Hot potato shit

calstars, Friday, 12 March 2021 04:05 (one year ago) link

The digital art community is basically imploding right now as it has polarized into for and against jumping onto this train. People that knew nothing about this two weeks ago, are now cool with creating dox lists of other artists they think are on the wrong side. It’s pretty distressing.

are people actually making dox lists?

honestly i am unfollowing #NFT evangelists, though. the shit is gross. don't know what else to say, it's just sad. i do understand why some people disregard the whole "cosmically unnecessary electricity usage at a time when ...god am i writing this again? fuck" thing - no one's making money off of digital art, or if you did you had to sell your soul in order to get compensated. and now this is finally a chance for some people to buy a couple lottery tickets, mint their cool shit, and hope it takes off and makes them some money. i guess i can understand that. i think it's wrong to do, when you're aware of what the actual costs are, or if you imagine a world where NFTs were successful and transactions continued to exponentially grow. that's why the evangelists bother me, because they should know better

Zach_TBD (Karl Malone), Friday, 12 March 2021 04:18 (one year ago) link

beeple sold a NFT at christie's for $70M today (it was actually a bit lower than but fuck)

Zach_TBD (Karl Malone), Friday, 12 March 2021 04:19 (one year ago) link

I can’t imagine getting a 250% return on a credit-based investment and not bailing but what do i know i only gamble with regular stonks

That article reminded of GT Advanced, which bubbled and burst a few years ago:
https://www.joshuakennon.com/gt-advanced-technologies-bankruptcy/

GT Advanced made solar panels, so they knew a bit about bonding glass to metal - Apple gave them a loan of something like $900m to develop sapphire glass for the next generation of iPhone, and the forthcoming Apple Watch. A lot of people on a forum called The Contrarian Investor put a tonne of cash into GT Advanced because great things were expected of it. But on the day that Apple announced the new iPhone (the 6?) there was no mention of sapphire glass, so the share price cratered. And a few weeks later the company declared bankruptcy because it had nothing coming in. Apple was its only potential customer, but Apple decided that sapphire glass wasn't worth the trouble.

And it all played out live, in real time, on the forum of the website:
https://web.archive.org/web/20141220201352/http://forum.thecontrarianinvestor.com/index.php?threads/gt-advanced-technologies-inc-gtat.69/page-499

Notice how towards the bottom of the page they realise that trading has halted, and then three pages later they realise the company has gone bankrupt. The initial reaction is "shut up, don't say that", but it gradually sinks in. Some of those people had put a small fortune into the stock and had already made a profit, because it seemed to be doing well. But they kept on because they wanted even more "and my friends on the internet said it was alright". At least one person invested their disabled child's school money and another invested a tonne of cash without telling his wife and kids.

If I had an investment that ballooned to over two hundred times its value I would sell it and never look at it ever again. I would not want to know what happened after I got rid of it.

Ashley Pomeroy, Tuesday, 12 July 2022 18:08 (six months ago) link

Ah of course

BREAKING: Crypto lender Celsius files for Chapter 11 bankruptcy a month after freezing customer withdrawals, the latest casualty from the rout in cryptocurrencies https://t.co/PCi6CfpfjL pic.twitter.com/infYnkua5s

— Bloomberg Crypto (@crypto) July 14, 2022

Ned Raggett, Thursday, 14 July 2022 04:52 (six months ago) link

We're freeing ourselves from the repression of FDIC insurance over our money

F'kin Magnetometers, how do they work? (President Keyes), Thursday, 14 July 2022 14:26 (six months ago) link

lol

An NFT is like being the Foursquare Mayor of a JPEG

— Don Marti (@dmarti) January 1, 2022

𝔠𝔞𝔢𝔨 (caek), Friday, 15 July 2022 22:17 (six months ago) link

absolutely banging thread about practical applications of web3, every idea even better than the last

35 business ideas of how web3 could improve or disrupt the most successful companies:

— Tascha (@TaschaLabs) July 24, 2022

mh, Monday, 25 July 2022 20:59 (six months ago) link

These need to be read in Patrick Bateman voice

F'kin Magnetometers, how do they work? (President Keyes), Monday, 25 July 2022 21:06 (six months ago) link

Though I would like to rent out my Costco membership on a secondary market. Sounds worthwhile.

F'kin Magnetometers, how do they work? (President Keyes), Monday, 25 July 2022 21:08 (six months ago) link

14. Starbucks

Allow customers to monetize their loyalty by earning Starbucks points in tradable token format. Customers can stake tokens to get tiered discounts in future.

I'll stick with my "buy ten get one free" punchcard, thanks.

nickn, Monday, 25 July 2022 21:35 (six months ago) link

The Costco one is the best, I'm sure they would greatly prefer someone else make the money on their memberships instead of them.

papal hotwife (milo z), Monday, 25 July 2022 21:44 (six months ago) link

Already dying and I’m not even done reading #1:

1. Amazon logistics

Instead of having large distribution centers, Use decentralized mini warehouses (e.g. your backyard) for storage

nobody like my rap (One Eye Open), Monday, 25 July 2022 22:15 (six months ago) link

PayPal already lets users buy crypto in their app. Next step is to evolve into KYC-ed DeFi.

I’m literally crying laughing. How is this real it’s so wonderful

nobody like my rap (One Eye Open), Monday, 25 July 2022 22:18 (six months ago) link

Amazon drivers spend the first 12 hours of their shift traveling between backyard storage units and the next 12 delivering the packages to the next zip code over.

papal hotwife (milo z), Monday, 25 July 2022 22:20 (six months ago) link

this explains so much

I’d traveled 3 days to a remote town in Peru to track down a jungle shaman to perform a ritual of ayahuasca, a mythical medicine plant that I heard would open you up to a higher wisdom & see the future.

— Tascha (@TaschaLabs) May 23, 2022

papal hotwife (milo z), Monday, 25 July 2022 22:36 (six months ago) link

PS Cosmetics biz disrupter of future would be customer-owned to share high biz margin w/ users to grow faster.

yeah like maybe you could buy ‘shares’ of the company to become a part-owner and like the more shares you own the more payouts you get, this is genius-level stuff, could disrupt the whole economy if it becomes reality

nobody like my rap (One Eye Open), Monday, 25 July 2022 22:37 (six months ago) link

that would be a good grift to capture everyone who's addicted to essential oils and supplement MLMs

papal hotwife (milo z), Monday, 25 July 2022 22:40 (six months ago) link

my friend almost sucked me into the Primerica MLM in the early 2000s, somehow seems like I'd have made more money there than with NFTs

I remember one 'meeting' I was invited too, which was a bunch of high-ranking MLM folk getting up to the front and insulting each other and yelling "You can't fire me! You can't fire me!" when they clapped back to point out we 'worked for ourselves'

Virtual real estate bubble collapsing as investors discover imposition of artificial scarcity itself not enough to drive demand of fundamentally useless asset https://t.co/NZ05N3wyWw

— cathode ray theory (@said_mitch) August 5, 2022

mark s, Friday, 5 August 2022 18:36 (six months ago) link

"Some day I hope to build on it!"

F'kin Magnetometers, how do they work? (President Keyes), Friday, 5 August 2022 18:58 (six months ago) link

Man, can't believe Second Life II didn't take off.

papal hotwife (milo z), Friday, 5 August 2022 19:36 (six months ago) link

VR Florida swampland

Andy the Grasshopper, Friday, 5 August 2022 19:40 (six months ago) link

ICYMI: Meet Polar, a metaverse-born singer, dancer and influencer. With 1.6 million followers on TikTok and more than over 500,000 subscribers on her YouTube channel, she has ambitions to perform in the real world https://t.co/QNBaKAoiyA pic.twitter.com/JoyrrhEMM5

— Reuters (@Reuters) August 7, 2022

papal hotwife (milo z), Monday, 8 August 2022 01:38 (five months ago) link

Wasn’t the ‘fully animated pop star’ a Japanese or Korean pop thing like 20 years ago?

papal hotwife (milo z), Monday, 8 August 2022 01:39 (five months ago) link

And before that the Archies and the Banana Splits

Are U down with the BVM (Boring, Maryland), Monday, 8 August 2022 03:31 (five months ago) link

two months pass...

Hirst is burning his paintings on Instagram Live at the moment.

On Tuesday morning Damien Hirst, a British artist, will begin burning a collection of paintings valued at about $10m as the finale of “The Currency”, his project pitting physical art against non-fungible tokens.

Last year 10,000 of Mr Hirst’s paintings featuring colourful enamel spots, made in 2016, were made into digital files, known as NFTs. Each NFT was sold for $2,000 but buyers were later given the choice between keeping the NFT or swapping it for the painting. Unwanted paintings are now being burned and rejected NFTs deleted.

In all 9,000 works were sold to the public: 5,149 buyers chose paintings while 3,851 wanted the NFTs. (Mr Hirst kept the rest.) Fewer than 70 physical works have appeared at auction, fetching twice the price of the more than 2,000 NFTs that have been resold. If “The Currency” asks whether digital works are as valuable as tangible ones, the answer seems to be no.

The self-titled drags (Eazy), Tuesday, 11 October 2022 11:44 (three months ago) link

we needed a project to tell us this

stank viola (Neanderthal), Tuesday, 11 October 2022 15:34 (three months ago) link

I'm sure you could find polka dot placemats for way less than that

https://news.artnet.com/app/news-upload/2022/08/The-Currency-14-1024x704.jpg

jmm, Tuesday, 11 October 2022 15:56 (three months ago) link

His experiment had two groups. People with too much money with terrible taste in digital art on one side, and people with too much money who have a taste for Damien Hirst’s art on the other. In the end, he found that people with too much money and shitty taste won

Karl Malone, Tuesday, 11 October 2022 16:08 (three months ago) link

He should burn all of his art, that would be amazing

Karl Malone, Tuesday, 11 October 2022 16:09 (three months ago) link

he should design luxury heating pads for people with bad backs, with original art work on the heating pads, and then also sell NFTs that people with bad backs should look at when their back flares up, and report back which is more effective

stank viola (Neanderthal), Tuesday, 11 October 2022 16:09 (three months ago) link

he did* 10,000 paintings in 2016? that's like 28 a day.

(*or got someone else to do)

koogs, Tuesday, 11 October 2022 16:31 (three months ago) link

rejected NFTs

Of all sad words of tongue or pen

jmm, Tuesday, 11 October 2022 16:34 (three months ago) link

Hirst always looks like such a joyless sod. At least Koons has fun making his terrible art.

Tsar Bombadil (James Morrison), Tuesday, 11 October 2022 20:48 (three months ago) link

"The Currency" sounds like some awful financial podcast that I don't want to ever listen to

Andy the Grasshopper, Tuesday, 11 October 2022 21:31 (three months ago) link

three weeks pass...

what is this stupid shit

The first-of-its-kind Web3 Movie Experience is available to purchase NOW!

— Warner Bros. NFT (@WarnerBrosNFT) October 27, 2022

papal hotwife (milo z), Tuesday, 1 November 2022 01:50 (three months ago) link

So you have a digital version of one of those tourist trap lenticular prints that existed because we didn't all have movie cameras in our pocket 24/7?

papal hotwife (milo z), Tuesday, 1 November 2022 01:51 (three months ago) link

Need a digital version of the inverted sculpture my grandma had where Jesus's eyes followed you around the room

papal hotwife (milo z), Tuesday, 1 November 2022 01:53 (three months ago) link

can't wait to right click on that

formerly abanana (dat), Tuesday, 1 November 2022 03:05 (three months ago) link

every time i see this dumb shit, it is a reminder that I am now officially too old to care
If throwing my hands up at the very concept of the NFT is my midnight blinking VHS, so be it.

one month passes...

anyone read this? i found it helpful: https://moxie.org/2022/01/07/web3-first-impressions.html

it was written about a year ago, by the guy who founded Signal, and it argues that while web3 is supposed to be decentralized (like web1), it's already dependent on platforms which are highly centralized. read the blog post if you have any interest, it'll provide context for this:

Given the history of why web1 became web2, what seems strange to me about web3 is that technologies like ethereum have been built with many of the same implicit trappings as web1. To make these technologies usable, the space is consolidating around… platforms. Again. People who will run servers for you, and iterate on the new functionality that emerges. Infura, OpenSea, Coinbase, Etherscan.

Likewise, the web3 protocols are slow to evolve. When building First Derivative, it would have been great to price minting derivatives as a percentage of the underlying’s value. That data isn’t on chain, but it’s in an API that OpenSea will give you. People are excited about NFT royalties for the way that they can benefit creators, but royalties aren’t specified in ERC-721, and it’s too late to change it, so OpenSea has its own way of configuring royalties that exists in web2 space. Iterating quickly on centralized platforms is already outpacing the distributed protocols and consolidating control into platforms.

Given those dynamics, I don’t think it should be a surprise that we’re already at a place where your crypto wallet’s view of your NFTs is OpenSea’s view of your NFTs. I don’t think we should be surprised that OpenSea isn’t a pure “view” that can be replaced, since it has been busy iterating the platform beyond what is possible strictly with the impossible/difficult to change standards.

I think this is very similar to the situation with email. I can run my own mail server, but it doesn’t functionally matter for privacy, censorship resistance, or control – because GMail is going to be on the other end of every email that I send or receive anyway. Once a distributed ecosystem centralizes around a platform for convenience, it becomes the worst of both worlds: centralized control, but still distributed enough to become mired in time. I can build my own NFT marketplace, but it doesn’t offer any additional control if OpenSea mediates the view of all NFTs in the wallets people use (and every other app in the ecosystem).

This isn’t a complaint about OpenSea or an indictment of what they’ve built. Just the opposite, they’re trying to build something that works. I think we should expect this kind of platform consolidation to happen, and given the inevitability, design systems that give us what we want when that’s how things are organized. My sense and concern, though, is that the web3 community expects some other outcome than what we’re already seeing.

Karl Malone, Sunday, 25 December 2022 17:06 (one month ago) link

three weeks pass...

hey it's even stupider than you think
https://www.youtube.com/watch?v=e7LiVBCZ69Q

POLIZISTEN VERSINKEN IM SCHLAMM (forksclovetofu), Tuesday, 17 January 2023 02:07 (two weeks ago) link

aight so this here is a transparent effort to groom the next generation of bagholders, which, is that legal? marketing ponzi schemes/risky financial instruments to literal children? (i'm assuming that the monkey poop video game is deliberately meant to appeal to tweens and the tween-brained; presumably incorporating elements of the skinnerbox pay-to-win mobile games they were raised on so as to addict them to crypto gambling) (and shout out to the loving close-up of a monkey's butthole, to ensure maximum virality among giggling schoolchildren)

no like seriously. does the sec or anybody give any kind of a darn about this, because i mean. they are actually, for real, on purpose, marketing this to kids (and idiots) for the all-but-explicit purpose of fleecing them. isn't there any kind of rule or something against that? it feels like there should be a rule against that.

#homilytweet (cat), Wednesday, 18 January 2023 00:45 (two weeks ago) link

otm

at least joe cool was doing cool things, like smoking cigarettes

Karl Malone, Wednesday, 18 January 2023 00:47 (two weeks ago) link

another point in joe cool's favor: i am unfamiliar with his anus, whereas i can no longer say the same re: jimmy the monkey

#homilytweet (cat), Wednesday, 18 January 2023 00:56 (two weeks ago) link

No results found for "joe cool's anus".

Suggestions:

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  • Maybe get a hobby?

POLIZISTEN VERSINKEN IM SCHLAMM (forksclovetofu), Wednesday, 18 January 2023 04:25 (two weeks ago) link

I wondered how the NBA Top Shot NFT millionaires from 2021 were doing - no one's done a re-profile I guess but the search did bring up these two deeply unwell men

Thinking back to those FOMO NBA Top Shot buys. @gmoneynft and @sobylife share their rage buy stories on a hilarious episode of Admit One on YouTube.https://t.co/k1yspJAUJb pic.twitter.com/XFPKoNRMYf

— Admit One (@Admit0001) January 24, 2023

papal hotwife (milo z), Wednesday, 25 January 2023 06:19 (one week ago) link

I miss Topshot. It was the most fun NFT's.

Jeff, Wednesday, 25 January 2023 11:57 (one week ago) link


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