Non-fungible tokens

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Space Cowgirl

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Non-fungible tokens
« on: April 30, 2021, 07:31:00 AM »
https://www.theverge.com/2021/4/29/22410070/disaster-girl-popular-meme-nft-500000-dollars

"Disaster girl" just sold for $500,000, "nyan cat" sold for $600,000, some other memes have been sold as well. Are nfts the next big thing, or will it fizzle out?
I'm sorry. Am I to understand that when you have a boner you like to imagine punching the shit out of Tom Bishop? That's disgusting.

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Stash

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Re: Non-fungible tokens
« Reply #1 on: April 30, 2021, 07:43:12 AM »
I kinda don't get it. Twitter what's-his-name kind of kicked things off with his NFT sale of the first Tweet. Then all these other ones have taken off. But what I don't get, using "Disaster Girl" as an example...I buy it for $500k which means I own the "original". But there are 1000's of memes out there with "Disaster Girl". Does that mean I can now go after each and every one with a copyright infringement gambit?
I guess my over-arching question is, what's the real benefit of "owning" the original? Is it like buying a Basquiat at Sotheby's for $50 million and hanging it on my penthouse wall in Trump Tower only instead it resides solely it my blockchain wallet?

Maybe NFT's are just like cyber currency in a way.

Re: Non-fungible tokens
« Reply #2 on: April 30, 2021, 09:37:48 AM »
https://www.theverge.com/2021/4/29/22410070/disaster-girl-popular-meme-nft-500000-dollars

"Disaster girl" just sold for $500,000, "nyan cat" sold for $600,000, some other memes have been sold as well. Are nfts the next big thing, or will it fizzle out?
Dunno, but I feel like I'm in a William Gibson novel.
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markjo

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Re: Non-fungible tokens
« Reply #3 on: April 30, 2021, 10:06:48 AM »
I guess my over-arching question is, what's the real benefit of "owning" the original? Is it like buying a Basquiat at Sotheby's for $50 million and hanging it on my penthouse wall in Trump Tower only instead it resides solely it my blockchain wallet?
Not really because you can never actually possess the "original" of any electronic document that you didn't create yourself.

Maybe NFT's are just like cyber currency in a way.
I think that it's just another way to exploit people with more ego and money than brains.

Speaking of which, anybody want the NFT for this insightful post?  A real bargain at $50,000.
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Re: Non-fungible tokens
« Reply #4 on: April 30, 2021, 10:07:28 AM »
Does that mean I can now go after each and every one with a copyright infringement gambit?

Not unless the contract, terms and conditions transfer the ownership of the copyright to you, which is not usual for NFTs (although certainly allowable). In most cases you "own" the original, but not the rights to the original. And for copyright infringement, prosecuting a claim takes a reasonable amount of money, so the only upside would be if someone were using it and making a lot of money off of it, which is not the case with your example. If you just wanted to be a rich dick that pissed people off, you could throw money away doing that, but the result would likely be you would prevent them from using it in future, with little to no recompense for past violations.

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Stash

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Re: Non-fungible tokens
« Reply #5 on: April 30, 2021, 10:31:19 AM »
Does that mean I can now go after each and every one with a copyright infringement gambit?

Not unless the contract, terms and conditions transfer the ownership of the copyright to you, which is not usual for NFTs (although certainly allowable). In most cases you "own" the original, but not the rights to the original. And for copyright infringement, prosecuting a claim takes a reasonable amount of money, so the only upside would be if someone were using it and making a lot of money off of it, which is not the case with your example. If you just wanted to be a rich dick that pissed people off, you could throw money away doing that, but the result would likely be you would prevent them from using it in future, with little to no recompense for past violations.

I agree with all that you wrote. I guess dropping half a mill on an NFT is really about bragging rights. Or perhaps an investment of some sort in hopes that the NFT somehow goes up in value? It's still unclear to me where the value is.

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Space Cowgirl

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Re: Non-fungible tokens
« Reply #6 on: April 30, 2021, 10:35:26 AM »
Quote
Interestingly, Roth’s NFT was purchased by 3F Music, a Dubai-based music studio with surprisingly deep pockets that also bought several other big-ticket NFTs, including Overly Attached Girlfriend ($411,000) and The New York Times’ meta NFT-column ($560,000).

In a statement provided to the NYT in March, 3F Music explained its purchase by commenting that “Our management team is always in cooperation with some highly knowledgeable and experienced art advisers who believe that we must grow with technological movements that help us to not only promote our business but also to support artists and the art market.”


It's a weird fad for rich people, I guess. It seems about as useful as literally setting money on fire.
I'm sorry. Am I to understand that when you have a boner you like to imagine punching the shit out of Tom Bishop? That's disgusting.

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Stash

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Re: Non-fungible tokens
« Reply #7 on: April 30, 2021, 10:45:13 AM »
I guess my over-arching question is, what's the real benefit of "owning" the original? Is it like buying a Basquiat at Sotheby's for $50 million and hanging it on my penthouse wall in Trump Tower only instead it resides solely it my blockchain wallet?
Not really because you can never actually possess the "original" of any electronic document that you didn't create yourself.

Maybe NFT's are just like cyber currency in a way.
I think that it's just another way to exploit people with more ego and money than brains.

Speaking of which, anybody want the NFT for this insightful post?  A real bargain at $50,000.

I'll go with $55k. Do I hear 60?

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markjo

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Re: Non-fungible tokens
« Reply #8 on: April 30, 2021, 11:41:30 AM »
Quote
Interestingly, Roth’s NFT was purchased by 3F Music, a Dubai-based music studio with surprisingly deep pockets that also bought several other big-ticket NFTs, including Overly Attached Girlfriend ($411,000) and The New York Times’ meta NFT-column ($560,000).

In a statement provided to the NYT in March, 3F Music explained its purchase by commenting that “Our management team is always in cooperation with some highly knowledgeable and experienced art advisers who believe that we must grow with technological movements that help us to not only promote our business but also to support artists and the art market.”


It's a weird fad for rich people, I guess. It seems about as useful as literally setting money on fire.
Unless you pay for it in BitCoin, of course.  Then it's just trading "ownership" of one set of 1s and 0s for another.
« Last Edit: April 30, 2021, 05:00:36 PM by markjo »
Science is what happens when preconception meets verification.
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Besides, perhaps FET is a conspiracy too.
Quote from: bullhorn
It is just the way it is, you understanding it doesn't concern me.

Re: Non-fungible tokens
« Reply #9 on: April 30, 2021, 01:26:31 PM »
Quote
Interestingly, Roth’s NFT was purchased by 3F Music, a Dubai-based music studio with surprisingly deep pockets that also bought several other big-ticket NFTs, including Overly Attached Girlfriend ($411,000) and The New York Times’ meta NFT-column ($560,000).

In a statement provided to the NYT in March, 3F Music explained its purchase by commenting that “Our management team is always in cooperation with some highly knowledgeable and experienced art advisers who believe that we must grow with technological movements that help us to not only promote our business but also to support artists and the art market.”


It's a weird fad for rich people, I guess. It seems about as useful as literally setting money on fire.
Welcome to late stage capitalism.
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Pezevenk

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Re: Non-fungible tokens
« Reply #10 on: April 30, 2021, 03:52:42 PM »
NFTs are the next big thing to fizzle out.

Best case scenario is that rich people figure out how to launder money using them.
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Pezevenk

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Re: Non-fungible tokens
« Reply #11 on: April 30, 2021, 03:56:39 PM »
I kinda don't get it. Twitter what's-his-name kind of kicked things off with his NFT sale of the first Tweet. Then all these other ones have taken off. But what I don't get, using "Disaster Girl" as an example...I buy it for $500k which means I own the "original". But there are 1000's of memes out there with "Disaster Girl". Does that mean I can now go after each and every one with a copyright infringement gambit?
I guess my over-arching question is, what's the real benefit of "owning" the original? Is it like buying a Basquiat at Sotheby's for $50 million and hanging it on my penthouse wall in Trump Tower only instead it resides solely it my blockchain wallet?

Maybe NFT's are just like cyber currency in a way.
No, you don't even have the original. You just have... Um... Not anything really. You just pay so that some number in some blockchain certifies that you have the original something. Basically it is just "written" somewhere that you have the original. But you don't really have it. Or rather you do have access to the original, if a digital asset can even be called the "original", but also in general everyone else also has access to it.
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Read a bit psicology and stick your imo to where it comes from
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Space Cowgirl

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Re: Non-fungible tokens
« Reply #12 on: April 30, 2021, 05:08:43 PM »
It's cool that Disaster Girl is going to pay off her student loans with the money. I hope the mememakers cash in while they can.
I'm sorry. Am I to understand that when you have a boner you like to imagine punching the shit out of Tom Bishop? That's disgusting.

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Crouton

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Re: Non-fungible tokens
« Reply #13 on: April 30, 2021, 06:45:33 PM »
Tulipmania.

Or maybe these people don't understand that they're basically buying a certificate of authenticity.
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Space Cowgirl

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Re: Non-fungible tokens
« Reply #14 on: May 17, 2021, 05:06:11 PM »
https://www.theverge.com/2021/5/17/22441078/fox-blockchain-animated-series-dan-harmon-nft

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Fox has announced its upcoming animated comedy Krapopolis, from Rick and Morty creator Dan Harmon, will be “the first-ever animated series curated entirely on the Blockchain.” The company plans to try to generate buzz for the show with its own brand-new NFT company dubbed Blockchain Creative Labs, THR reports.

Fox Entertainment CEO Charlie Collier told advertisers during its upfronts presentation on Monday that “as an advertiser-focused, artist-first and animation-obsessed company, Fox is going to take advertisers into the world of Blockchain-powered tokens, including NFTs.” It will launch a dedicated marketplace for Krapopolis, a show set in mythical ancient Greece “centered on a flawed family of humans, gods, and monsters that tries to run one of the world’s first cities without killing each other.”

The marketplace will “curate and sell digital goods ranging from NFTs of one-of-a-kind character and background art and GIFs, as well as tokens that provide exclusive social experiences to engage and reward super fans,” according to Fox. Characters and artwork from the show will become NFT collectibles — because why let the internet GIF your show for free when you can sell them GIFs as NFTs?

This is weird!

Also, when they "let the internet GIF your show for free" they are letting the internet advertise your show for free.
I'm sorry. Am I to understand that when you have a boner you like to imagine punching the shit out of Tom Bishop? That's disgusting.

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Space Cowgirl

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Re: Non-fungible tokens
« Reply #15 on: May 25, 2021, 11:49:32 AM »
https://www.bbc.com/news/newsbeat-57227290

Quote
Charlie Bit My Finger video to be taken off YouTube after selling for £500,000

As one of the original viral videos, the Charlie Bit My Finger clip is a little piece of internet history.

But now the much-loved clip of baby Charlie gnawing on his brother Harry's finger will be taken off YouTube after it was sold for $760,999 (£538,000).

The Davies-Carr family auctioned the clip as an NFT, a non-fungible token.

Bids came into their auction page throughout the weekend, but the price dramatically increased in its final hours on Sunday.

The bidding battle was between two anonymous accounts.

"3fmusic" eventually outbid "mememaster" for the video, which has been watched more than 880 million times since it was put on YouTube in 2007.

The clip had been due to be removed from the video sharing platform on 23 May, following the auction - but at the moment it's still there.

I wondered if this would happen. Will all the memes and viral videos be taken down as they're sold?
I'm sorry. Am I to understand that when you have a boner you like to imagine punching the shit out of Tom Bishop? That's disgusting.

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Stash

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Re: Non-fungible tokens
« Reply #16 on: May 25, 2021, 12:01:38 PM »
I'm still kinda baffled as to how the NFT sitch works. I buy it for 3/4 of a million bucks, it gets taken down off of YT. Though there are a trillion copies of it out there in the wild. Is the deal that now that I "own" it, I can go after anyone who posts it/makes use of it for copyright infringement and maybe get some cash for it?

Do I mount a flat screen on my wall next to the Picasso I purchased last year and just loop the vid and display/brag to my house guests?

In other words, what do I do with my $750k NFT purchase? Where is the value?

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Space Cowgirl

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Re: Non-fungible tokens
« Reply #17 on: May 25, 2021, 12:19:35 PM »
It's like saying, I own this one hundred dollar bill, and then setting it on fire.
I'm sorry. Am I to understand that when you have a boner you like to imagine punching the shit out of Tom Bishop? That's disgusting.

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boydster

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Re: Non-fungible tokens
« Reply #18 on: May 25, 2021, 12:25:08 PM »
Is there a way NFTs could be weaponized so when someone receives an unsolicited dick pic, they can turn it into an NFT and turn around and use it to extort the sender? That would be pretty great karma.

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Space Cowgirl

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Re: Non-fungible tokens
« Reply #19 on: May 25, 2021, 03:26:10 PM »
I was just searching for information, and apparently there is no copyright that comes with an NFT. I wonder if the tech companies would honor the NFT and act as if it is copyrighted. Like, there are probably several Charlie bit me videos on youtube, would youtube take them all down, or only the original?
I'm sorry. Am I to understand that when you have a boner you like to imagine punching the shit out of Tom Bishop? That's disgusting.