NFTs

Message Bookmarked
Bookmark Removed

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 month ago) link

Eat your heart out, Walter Benjamin.

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

One for the human nature thread.

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

Reminds me of

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

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

Maybe free market artificial scarcity is just a bad idea.

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

Beeple auction ends Thurs I think

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

This is stupid nobody should post about this including me

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

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

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

smh

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

Yeah but it’s just a bad database

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

There’s only one financial system

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

you're preaching to the converted!

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

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

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

Hot potato shit

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

who is it that basically predicted / theorized all of this? *looks up "theorist who argued that capitalism turns everything into a commodity" and finds wikipedia article on karl marx's concept of commodity fetishism* oh

John Cooper of Christian rock band Skillet (map), Friday, 26 March 2021 20:49 (three weeks ago) link

listen, i'm familiar with the marx brothers, groucho is my favorite

Zach_TBD (Karl Malone), Friday, 26 March 2021 21:22 (three weeks ago) link

See I like harpo

G.A.G.S. (Gophers Against Getting Stuffed) (forksclovetofu), Friday, 26 March 2021 21:43 (three weeks ago) link

I have been running my own poetry writing workshops digitally for a while. It's made me about 12 grand or so since last summer, and is a great way to read work from both established and very green writers without the absolute bullshit of academia. It's a hustle, and a ton of work, but it's my life's work, and I hardly advertise any longer, word of mouth really works.

it's like edging for your mind (the table is the table), Friday, 26 March 2021 22:30 (three weeks ago) link

that's so cool. that's the best.

Zach_TBD (Karl Malone), Friday, 26 March 2021 22:53 (three weeks ago) link

I also know a lot of ceramics and other visual art based people who make quite a living from their stuff.

Part of it for some, tho, is having a built-in audience. I have a pal who makes jewelry using old railroad china, and old train nerds and foamer types make her releases sell out in literal minutes. It's nuts.

Another thing is that some friends make more low-key items that are 'low stakes' like stickers and badges, then the audience finds out they are also making lovely vases or coffee mugs.

Anyway, I guess I feel like it's a double-edged sword, as such projects can take away from the impulse of the artist, and lead to burnout really fast. I did two workshops on different days while I was working full-time just recently, and it made me want to die because I had no time for myself or my own writing and reading.

it's like edging for your mind (the table is the table), Friday, 26 March 2021 23:17 (three weeks ago) link

back when I had an art job, I seriously was talking to my boss about possibly commissioning you, Karl ... or like, some small stipend to feature your web-work on our blog or something ... idk, I spend a lot of time talking to artists about money and the hustle and seeing what they make, and how, and ... it's really challenging.

sarahell, Sunday, 28 March 2021 02:16 (three weeks ago) link

i really appreciate that, sarahell. that's really nice of you, it really is. <3 thank you. i think if that would have came through in the last few years, i would have massively fucked up the opportunity! i think the thing that precipated my big breakdown a few years ago was the Longmont Potion Castle opportunity. Seriously, basic income is better for me. just give me a check, let me do my thing for just a couple people. hustling is terrible for me, it hurts my body

i just had a really wonderful moment that probably illustrates a healthier relationship to art (for me). i just learned how to play find the river on guitar, and then sweetness followed followed, on spotify, so i learned how to play that last night. i just got my second shot in my arm, and i'm going to a backyard BBQ at a friend's place in a couple weeks with some early vaxxers. maybe i'll just play those songs for them. i don't do that, normally (ever. at all), but i feel like just doing it and they all know that i'm in a weird place and be accepting and understanding of it, i think. these are people i know, and i'll play them the songs and they'll remember that i liked rem a ton in high school 20 years ago, and i think they'll appreciate that. that seems so much better than having some special motion graphix trick appreciated by some libertarian turd for .42323 ETH, and having that awful subsidiary thought "should i do this stupid mograph trick again, only slighly better, to please some other turd for slightly more?", gross!

Zach_TBD (Karl Malone), Sunday, 28 March 2021 02:34 (three weeks ago) link

Clements distinguished between the NFT artwork (the image) and the NFT, which is the little cryptographic signature that actually gets logged.

"I use the analogy of OpenSea and similar platforms acting like windows into a gallery where your NFT is hanging,” he said. “The platform can close the window whenever they want, but the NFT still exists and it is up to each platform to decide whether or not they want to close their window.”

This is such a tortured metaphor. They had to hint that the artwork is still on their platform (it is on their server, but they'll never make it available), which led to "windows" in a gallery.

wasdnuos (abanana), Tuesday, 30 March 2021 09:25 (three weeks ago) link

Show me your NFTs dude

*looks toward the clouds*

Some say they’re always there, if you have the eyes to see them

Zach_TBD (Karl Malone), Tuesday, 30 March 2021 15:08 (three weeks ago) link

An NFT for a picture of 1 paper share of circuit city stock

microsloth fig stimulator (Sufjan Grafton), Tuesday, 30 March 2021 15:11 (three weeks ago) link

can't we just go back to trading stickers

G.A.G.S. (Gophers Against Getting Stuffed) (forksclovetofu), Tuesday, 30 March 2021 15:16 (three weeks ago) link

Pogs, please

it's like edging for your mind (the table is the table), Tuesday, 30 March 2021 15:25 (three weeks ago) link

Last month, Tom Kuennen, a property manager from Ontario, coughed up $500 worth of cryptocurrency for a JPEG of an Elon Musk-themed “Moon Ticket” from DarpaLabs, an anonymous digital art collective. He purchased it through the marketplace OpenSea, one of the largest vendors of so-called non-fungible tokens, or NFTs, in the hopes of reselling it for a profit.

“It’s like a casino,” he said in an interview. “If it goes up 100 times you resell it, if it doesn't, well, you don’t tell anyone.”

:D

Zach_TBD (Karl Malone), Tuesday, 30 March 2021 15:38 (three weeks ago) link

i don't have a very large art collection. just a few real things. but when i look at them, i do think of the potential profit, and it brings me great joy, perhaps the greatest i've felt

Zach_TBD (Karl Malone), Tuesday, 30 March 2021 15:38 (three weeks ago) link

gee, i hope elon musk's butthole rises in value today

Zach_TBD (Karl Malone), Tuesday, 30 March 2021 15:39 (three weeks ago) link

a rising butthole lifts all shits

microsloth fig stimulator (Sufjan Grafton), Tuesday, 30 March 2021 15:43 (three weeks ago) link

i have brought this upon myself

Zach_TBD (Karl Malone), Tuesday, 30 March 2021 15:46 (three weeks ago) link

he may have turned to the dark side, but lol

https://davidoreilly.medium.com/the-definitive-nft-medium-article-500855317d8a

imago, Thursday, 1 April 2021 16:02 (two weeks ago) link

list of links at the bottom hits kinda hard after all that

imago, Thursday, 1 April 2021 16:05 (two weeks ago) link

It is from this turning point that I began a journey of discovery that opened my eyes to the danger and cost of this technology. Make no mistake — NFTs are not harmless and not benign, and have zero to do with artists making money. They are — and I do not say this lightly — without a doubt the single greatest threat that planet Earth has ever faced.


I’m glad that someone has out-anti-NFT’d me

Zach_TBD (Karl Malone), Thursday, 1 April 2021 16:08 (two weeks ago) link

not that any of this justifies NFTs, it's just quite funny

imago, Thursday, 1 April 2021 16:09 (two weeks ago) link

Oh, I kept reading. Well I’m still the king

Zach_TBD (Karl Malone), Thursday, 1 April 2021 16:12 (two weeks ago) link

for you Karl

paddington bear has made an NFT (New Friend Today)

— Paddington Bear Updates (no affiliation) (@fakepaddington) March 30, 2021

rob, Thursday, 1 April 2021 16:50 (two weeks ago) link

One of my favorite crypto-asshole arguments is that crypto is actually GOOD for the environment because the demand it creates for renewable energy is driving innovation, or something.

longtime caller, first time listener (man alive), Thursday, 1 April 2021 17:25 (two weeks ago) link

every fucking dipshit is using NFTs as their april fools joke, brilliant work marketing people

G.A.G.S. (Gophers Against Getting Stuffed) (forksclovetofu), Thursday, 1 April 2021 17:31 (two weeks ago) link

NFTs may finally bring about the magical economy, where everyone in the world's income is derived from taking in everyone else's laundry buying and selling NFT-tagged images.

Judge Roi Behan (Aimless), Thursday, 1 April 2021 17:39 (two weeks ago) link

good ^^

Zach_TBD (Karl Malone), Wednesday, 7 April 2021 17:18 (one week ago) link

I feel like even calling it "NFT Art" is a misnomer. It's digital art. An NFT is just a thing you sell that is nominally attached to a piece of digital art.

longtime caller, first time listener (man alive), Wednesday, 7 April 2021 17:25 (one week ago) link

But what kind of digital art is valued by NFT investors? So far you aren't seeing NFTs for Sothebys-style art make much of an impact.

reggae mike love (polyphonic), Wednesday, 7 April 2021 17:33 (one week ago) link

i prefer "NFT Art", because it carries with it the meaning "this is shitty art, in addition to the shitty people who buy and sell it"

Zach_TBD (Karl Malone), Wednesday, 7 April 2021 17:34 (one week ago) link

But what kind of digital art is valued by NFT investors? So far you aren't seeing NFTs for Sothebys-style art make much of an impact.

modern art institutions are coming around to digital art in slow motion (comparable to how it took decades for the "art world" to come around to "motion pictures" at art, or the excruciating "conversation" around the idea of "games" as art now)

imo a good artist should reject NFTs and crypto-bullshit, but they sure as fuck better be rejecting whatever "art world" previously existed as well.

Zach_TBD (Karl Malone), Wednesday, 7 April 2021 17:37 (one week ago) link

trying to sell good digital art to a NFT turd is like selling pogs to a rich adolescent

Zach_TBD (Karl Malone), Wednesday, 7 April 2021 17:38 (one week ago) link

NF(art)T

G.A.G.S. (Gophers Against Getting Stuffed) (forksclovetofu), Wednesday, 7 April 2021 17:39 (one week ago) link

http://blog.seanbonner.com/2021/03/12/wtf-nft/

it's hard to believe someone is comparing the environmental cost of cryptocurrency with the entirety of the global banking system
bitcoin's total value right now ~$1 trillion, I wonder how much the entire global banking system processes in a year?

Joe Bombin (milo z), Friday, 9 April 2021 22:14 (one week ago) link

Whenever I see this thread title I immediately think of newts and efts, as in this article. Once my brain saw this connection, it cannot unsee it.

sharpening the contraindications (Aimless), Friday, 9 April 2021 23:50 (one week ago) link

from that artreview piece

https://backend.artreview.com/wp-content/uploads/2021/03/b1e-1230x586.jpg
"A popular internet meme of 2020 features an outraged bowtied figure who insists to another figure (representing the US Federal Reserve) that he can’t just ‘artificially inflate the economy by creating money’. To which the Fed character, next to a printer busily printing dollars, grins ‘haha, money printer go brrrrr’. Billions have been minted by central banks to support the incomes of people suffering the economic effects of the lockdown response to COVID-19. But printing money means that interest rates for fiat currency are effectively zero. In those circumstances, it’s not hard to see the attraction of moving fiat currency into cryptocurrency, or flipping virtual artworks that might increase rapidly in value, as Beeple’s CROSSROADS did in February, when it was resold for $6.6m, from an original sale of $66.6k. Cryptocurrency, NFTs and visual art have, without the artworld quite grasping it, combined at a moment when fiat currency has, in essence, become worthless, wages are dead and there is no reason for most people to save for a future that seems utterly without promise."

zero interest rate means money is worthless. right.

wasdnuos (abanana), Saturday, 10 April 2021 00:18 (one week ago) link

I always trust artists to have a firm grasp of Central Bank monetary policy. I would like the author of that piece to do a performance art piece where they destroyed piles of 'worthless fiat currency" to prove their point.

sharpening the contraindications (Aimless), Saturday, 10 April 2021 00:24 (one week ago) link

hard to put into words how fucked america is, but this article headline almost thoroughly does it pic.twitter.com/INMg4zyvz4

— Younger (@JustinYounger) April 8, 2021

Bastard Lakes (Camaraderie at Arms Length), Saturday, 10 April 2021 18:29 (one week ago) link

the subheadline does it too

Zach_TBD (Karl Malone), Saturday, 10 April 2021 19:13 (one week ago) link

https://babbykense.medium.com/a-response-to-jisus-nft-superdocument-33ac27a5ad38

catching up to this one, in the wake of catching up to Jisu's popular 'voice of reason' / 'voice of the younger & minority NFT middle class'

blockchain is good because decentralization is good. what do NFTs ultimately decentralize? they decentralize authentication

Milton Parker, Saturday, 10 April 2021 22:18 (one week ago) link

When I see artists I admire promote N f Ts now I just smh

calstars, Saturday, 10 April 2021 22:27 (one week ago) link

RIP NFTs

https://crypto.jayandsilentbob.com

wasdnuos (abanana), Wednesday, 14 April 2021 20:10 (six days ago) link

just saw an artist friend has started doing this, guess he has no other way to stay afloat, sad times all round.

Camaraderie at Arms Length, Wednesday, 14 April 2021 20:23 (six days ago) link

Is there any possible doubt in anyone's mind that these are going to be looked at as the pogs of 2021?
feel free to quote this to me in 2030 when beeple is president

G.A.G.S. (Gophers Against Getting Stuffed) (forksclovetofu), Thursday, 15 April 2021 02:35 (five days ago) link

I agree, but I thought bitcoin would be a joke by now.

nickn, Thursday, 15 April 2021 02:39 (five days ago) link

bitcoin benefited from arriving on the last train before the end of capitalism, social media overload and nihilism as smart business
i imagine a sunspot is gonna wipe every server on earth and then all this shit will be so much dust in the wind aka SOON A CLEANSING

G.A.G.S. (Gophers Against Getting Stuffed) (forksclovetofu), Thursday, 15 April 2021 02:43 (five days ago) link


You must be logged in to post. Please either login here, or if you are not registered, you may register here.