Can someone explain WHY NFT's

DdBob

DdBob

Dogue in teh desert
This has got to be the dumbest thing ever . WHY? I just don't get it and maybe it's cuz I'm old but for instance why not just breathe into a microphone, record it and then declare it a viable commodity because some(most) anything I ever see relating to NFT is just the equivilent of Dollar general store plastic flowers. I mean it's just mass production of "art" not for arts sake but for profit sake or perhaps it is the equivilent of a cheap dime store romance novel....pulp is the word I guess.

For instance this why ITF is <<<<<<that worth anything. I'm starting to think if I just draw a stick figure 1000 times using like 4 differnt ink colors that I could sell it and make money./ The world is increasingly getting more stupid isn't it?
 
DdBob said:
why not just breathe into a microphone, record it and then declare it a viable commodity
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You could, but I already did. So, I have the very first one and I am willing to sell it for whatever the market will bear, and the market is full of idiots that don’t see as much value in the substance as they do in the fact that’s it’s the first or only instance of a non-fungible “thing.”
 
My daughter does digital art. Sounds great if you can get paid with real money instead of crypto.
 
dodgechargerfan said:
You could, but I already did. So, I have the very first one and I am willing to sell it for whatever the market will bear, and the market is full of idiots that don’t see as much value in the substance as they do in the fact that’s it’s the first or only instance of a non-fungible “thing.”
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well how about this. I try to sell mine and find out you have it so I just go and put a giant X through each stick figure and I also add to each figure a green bean in their hand so now I have a stick figure holding a green bean with an x though it...if need be I go keep adding until my "art" is "unique"....it's dumb.
 
How is this different from copyright…..or is it just copyright? Also is this just similar to the dot com domain register
 
It's not just art either. Some rapper sold his album as an NFT for $1 and sold a million in like a few minutes or something. He then went on to rant about how he didn't care he just made a million dollars but that he was excited for all the people that bought his album because now they're all gonna be rich. What?
 
Get 10K in a crypto account. Start an NFT company, sell an NFT for 10K to your crypto account, the NFT is now worth 10K, as you paid that for it. Your net worth is now 20K. 10K in crypto and the NFT valued at 10K based on sales price. Now sell it for 12K to some idiot that believes it was worth 10K, or sell it for 1k at a great discount, and declare a 9K business loss as the asset is not worth the acquisition cost. Rinse and repeat with a new monkey picture and soon you are worth a eleventy billion dollars. Get some friends involved and you are all worth eleventy billion. Essentially modern check kite/tax fraud, with more upside sales potential as people write news articles about it and people think these things have value because someone on the internet said they do. If you do it with regulated financial products it is a crime, but governments have been slow to apply regulations to these things, so anything is possible.
 
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It is probably my age, but both NFTs and Crypto make no financial sense to me. Both are smoke and mirrors, but people are making lots of (digital) money off of them. Maybe is I was a rich man with a lot of financial know-how it would make more sense.
 
serious question for you all....I really think in this modern world of stoopid I could actually make my Green bean stickman a thing. I am considering starting a KickStarter page and ask for the lofty goal of 2,000 dollars. I will float the concept of "a day in the life", "adventures of" type thing and will pitch it as a digital comix whereas Stickman and his ever present greenbean do stuff and then I will get Kindle publishing or something similar (whatever is the cheapest) and I will put out a 5 page coic of Stickman battling meanies who don't like vegetables.

Would you all financially support me to kickstart my kickstarter if I do this ?
 
DdBob said:
serious question for you all....I really think in this modern world of stoopid I could actually make my Green bean stickman a thing. I am considering starting a KickStarter page and ask for the lofty goal of 2,000 dollars. I will float the concept of "a day in the life", "adventures of" type thing and will pitch it as a digital comix whereas Stickman and his ever present greenbean do stuff and then I will get Kindle publishing or something similar (whatever is the cheapest) and I will put out a 5 page coic of Stickman battling meanies who don't like vegetables.

Would you all financially support me to kickstart my kickstarter if I do this ?
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Sounds too much like an actual product or service you would deliver, and it is impossible for me to steal it electronically, so I am not interested in backing the idea.
 
Yeah I'm still pretty fuzzy about the NFT concept myself. One wild guitar I almost posted for GPOTD was claiming if you bought it it would make a great NFT. wtf

I guess it is kind of like stock, if you buy something that you can conceivably sell for more to someone else in the future, it doesn't matter if the "something" is tangible or useful or not. At least stock though comes with some privileges like voting interest in the company etc.
 
the digital equivalent of a cheesy decorative franklin mint plate. Actually, the NFT is the digital equivalent of a certification of ownership for the shitty plate, not even the shitty plate itself
 
DdBob said:
well how about this. I try to sell mine and find out you have it so I just go and put a giant X through each stick figure and I also add to each figure a green bean in their hand so now I have a stick figure holding a green bean with an x though it...if need be I go keep adding until my "art" is "unique"....it's dumb.
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You understand it. Fully and completely as far as the creative side of it is concerned.

The hullabaloo is more about the certified ownership of the original, as discussed above.
 
From a corp perspective, my employer is interested in NFTs. One compelling use case is as a transferable certificate of authenticity that could have potential to undermine the counterfeit goods trade.
 
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