Cryptocurrency Master Thread

[Rage Against the McKee]

Is a 3D NFT different from other NFTs or is 3D referring to the artwork that the NFT grants ownership (but not copyright) of?

[stunted]

I just don’t get the value of it.

[Rage Against the McKee]

It seems similar to buying an acre of land on the moon to me.

[wetwillie]

Is a 3D NFT different from other NFTs or is 3D referring to the artwork that the NFT grants ownership (but not copyright) of?

It’s AR augmented reality.  It’s basically the same as Pokemon Go, but you own a unique copy of the intellectual property.  The most popular currently are in the Marvel and Disney properties like Spiderman and Mickey Mouse.   The app is pretty slick, if you download it you can get a good idea of what they look like.

[Rage Against the McKee]

Is a 3D NFT different from other NFTs or is 3D referring to the artwork that the NFT grants ownership (but not copyright) of?

It’s AR augmented reality.  It’s basically the same as Pokemon Go, but you own a unique copy of the intellectual property.  The most popular currently are in the Marvel and Disney properties like Spiderman and Mickey Mouse.   The app is pretty slick, if you download it you can get a good idea of what they look like.

So you go to a specific location and can see the art through your phone? Can other people do the same? Are the content creators (i.e. actual owners) required to continue hosting that content perpetually, or could they take it down some day in the future, rendering the NFT completely useless? Does the NFT owner receive ad revenue through the app?

[wetwillie]

Is a 3D NFT different from other NFTs or is 3D referring to the artwork that the NFT grants ownership (but not copyright) of?

It’s AR augmented reality.  It’s basically the same as Pokemon Go, but you own a unique copy of the intellectual property.  The most popular currently are in the Marvel and Disney properties like Spiderman and Mickey Mouse.   The app is pretty slick, if you download it you can get a good idea of what they look like.

So you go to a specific location and can see the art through your phone? Can other people do the same? Are the content creators (i.e. actual owners) required to continue hosting that content perpetually, or could they take it down some day in the future, rendering the NFT completely useless? Does the NFT owner receive ad revenue through the app?

At the moment you use the VEVE app to access the NFT, shortly it will be available to transfer to opensea on the ethereum network via IMX.  The IP is transferred to the owner when purchased so there is no risk of it being unhosted, as it’s minted on the blockchain.  Eventually VEVE will host its own version of a metaverse where the NFT’s can be utilized in a virtual world and I’m guessing can be rented out for income.

[catastrophe]

If anything, NFTs highlight how silly it is to buy a painting for like $5 million to put in your bedroom. We’re just publicly witnessing the silly things people with expendable income do that makes them happy.

[wetwillie]

I think what people are missing is that this “silly” stuff is just the tip of the iceberg in terms of functionality for what an NFT is. You are talking about smart contracts on a immutable ledger.   We are talking about tokenization of all kinds of assets not just 2D Art.  The same kind of rhetoric was used about Web 2.0 for social media, now it’s ubiquitous in daily life.

[Rage Against the McKee]

If anything, NFTs highlight how silly it is to buy a painting for like $5 million to put in your bedroom. We’re just publicly witnessing the silly things people with expendable income do that makes them happy.

Would it make more sense to pay $5 million for a painting in a museum, only the painting has to stay in the museum and you aren't allowed to charge for access, you don't get a percentage of admissions fees, and you yourself actually have to drive to the museum and pay admission to view the painting you just purchased? Because based on what I read about NFT art, that seems to be sort of equivalent.

[catastrophe]

If anything, NFTs highlight how silly it is to buy a painting for like $5 million to put in your bedroom. We’re just publicly witnessing the silly things people with expendable income do that makes them happy.

Would it make more sense to pay $5 million for a painting in a museum, only the painting has to stay in the museum and you aren't allowed to charge for access, you don't get a percentage of admissions fees, and you yourself actually have to drive to the museum and pay admission to view the painting you just purchased? Because based on what I read about NFT art, that seems to be sort of equivalent.

Admittedly I don’t have much knowledge of this space, but I’ve not heard about NFT owners having issues accessing the art they own.

Most people’s criticism of NFTs seems to be that they’re easily reproducible by the non-owner, which really is true for most any art.

All that said, I don’t think anyone on either side thinks the NFT art being sold has any inherent value, but that’s fine. You don’t see me mucking up the Ken Griffey Jr. card thread with similar complaints.

[Rage Against the McKee]

It seems like a digital version of trading baseball cards, collecting stamps, or buying up beanie babies to me, only somehow more lame. I don't know if the people who are comparing it to the invention of the iphone or the internet are serious or not.

[steve dave]

NFT art is not very cool imo but I’m not really interested in looking at non-NFT art either. It’ll crash down to earth eventually but irl useful NFTs like memberships you can re-sell and crap like that are probably irl going to be big.

[Spracne]

NFT art is not very cool imo but I’m not really interested in looking at non-NFT art either. It’ll crash down to earth eventually but irl useful NFTs like memberships you can re-sell and crap like that are probably irl going to be big.

We will soon be using them to sell penthouses in the metaverse.

[Rage Against the McKee]

I try not to talk about the metaverse because it feels too much like what hacking looks like in the movie "Hackers."

[Kat Kid]

NFT art is not very cool imo but I’m not really interested in looking at non-NFT art either. It’ll crash down to earth eventually but irl useful NFTs like memberships you can re-sell and crap like that are probably irl going to be big.

We will soon be using them to sell penthouses in the metaverse.

My kids are will probably use them to trade penthouse centerfold NFTs.

[catastrophe]

It seems like a digital version of trading baseball cards, collecting stamps, or buying up beanie babies to me, only somehow more lame. I don't know if the people who are comparing it to the invention of the iphone or the internet are serious or not.

In the analogy (at least in my head), the iPhone/iPad is the blockchain and NFT art is like the apps where you tilt it to look like you’re drinking a glass of beer or blowing out birthday candles.

[Rage Against the McKee]

It seems like a digital version of trading baseball cards, collecting stamps, or buying up beanie babies to me, only somehow more lame. I don't know if the people who are comparing it to the invention of the iphone or the internet are serious or not.

In the analogy (at least in my head), the iPhone/iPad is the blockchain and NFT art is like the apps where you tilt it to look like you’re drinking a glass of beer or blowing out birthday candles.

I think the NFT is the thing that lets everyone else know that you own a unique, yet identical copy of the app that everyone else uses for free.

[Rage Against the McKee]

NFT art is not very cool imo but I’m not really interested in looking at non-NFT art either. It’ll crash down to earth eventually but irl useful NFTs like memberships you can re-sell and crap like that are probably irl going to be big.

We will soon be using them to sell penthouses in the metaverse.

My kids are will probably use them to trade penthouse centerfold NFTs.

I think most kids will view their parents' NFTs the same way I used to look at my Grandpa's stamp collection.

[Stupid Fitz]

NFT art is not very cool imo but I’m not really interested in looking at non-NFT art either. It’ll crash down to earth eventually but irl useful NFTs like memberships you can re-sell and crap like that are probably irl going to be big.

Concert tickets

[Kat Kid]

I think writing in a perpetual royalty % at sale for the artists is pretty cool.

[wetwillie]

I think writing in a perpetual royalty % at sale for the artists is pretty cool.

Yea the smart contracts are the real winner here

[DQ12]

based on my understanding, NFTs are just a vehicle to launder money

[steve dave]

based on my understanding, NFTs are just a vehicle to launder money

yeah, I think that's a bigtime irl thing

[Stupid Fitz]

based on my understanding, NFTs are just a vehicle to launder money

yeah, I think that's a bigtime irl thing

Guess we will find out when it crashes. Seems pretty risky to clean your money by buying a bunch of digital Ape Art, but who knows. 

[DQ12]

based on my understanding, NFTs are just a vehicle to launder money

yeah, I think that's a bigtime irl thing

Guess we will find out when it crashes. Seems pretty risky to clean your money by buying a bunch of digital Ape Art, but who knows. 

money laundering is kind of risky by nature.  buying/selling a $5,000 image of a banana requires a little less legwork than opening up a fake restaurant.