@arts
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NFTs - Non-Fungible tokens. Opinions?
Hello. Hello, artists young and old. I'm just curious about your opinions around NFTs nonfungible tokens opinions. What's your experience with them? Have you had any experience? If you have any what's to your opinion? Where do you think this is going? I've heard a lot of good stuff. Heard a lot of bad stuff. I'm just curious what you guys think
Deborah Pardes
@DBPardes · 1:01
I have a lot of questions about this, and I happen to be attending south by Southwest the conference in Virtual Austin this year, and there are a few sessions about NFT Keys and the whole blockchain world, and I have got to go to one of them so I can have a little more intelligence. But my first gut around it is just I don't understand this new level of valuing things that are so replicable
By valuing things that are so replicable. Do you mean that the art is sort of easy for any, say, first year art student to forge or copy
Deborah Pardes
@DBPardes · 0:16
I'm going to put a link here to what I was referring to. A digital piece of art was sold for $69 million, and it's not even an actual physical piece of art. It's hard to explain. So let me let The New York Times do that for you. Hold on
Greg Liburd
@lovegreg · 2:20
I think the thing with NFTs and I've been in the crypto world for a couple of years is that they represent a shift in our collective thinking that we are familiar, familiar with and accept the fact that a dollar has value and that a piece of property has value, and we have a construct of a company and that has value because people invest in it
You know, when you spoke of the intangible, it just reminded me of music. People place so much value on music, despite the fact that it's not in a way, it's tangible. If you have a really bass boosted stereo, but other than that, you can't touch it
Deborah Pardes
@DBPardes · 1:18
Greg, I just think you saved me an hour of a session at South By Southwest. You really helped me see this from a perspective of shifting perspective, which I think is the most important part part of our I guess, for lack of a better phrase, new economy is for all of us to really take a step back and think about how stuck we Wright be from our vantage point and your point about buildings being created by bricks, and yet we value them for millions of dollars
phil spade
@Phil · 2:13
Now, I think there'll be some shake out from that. I think there will be some assets that will be worth just as much as a honors Wagner baseball card. And I think there'll be some that are going to be worth as much as a beanie baby, I think, especially when you look at collectibles. But I've really been noticing the top shot, the NBA, where you're able to buy digital assets of replays
Ryan Cartier
@Cartier · 0:14
I was just curious what your experience is with them and why you're asking for opinions about them. What is it that you're trying to figure out
When it comes to experience, I have none to speak of. What I do know is or rather what I do want to know is how do you create one and then later on sell it also because the platform is so new and by the platform I mean Swell Cast is so new and south by Southwest is going. I was thinking that there are probably a lot of smart and intelligent people more so than me who do know about and if
Ryan Cartier
@Cartier · 4:59
So you have pixelated projects like Kryptopunks and Crypticities that have seen renewed interest because they were the original pieces, and there's a limited amount minted prior to 2021. So a lot of people get confused as to why people would spend money on these things. So an idea that you can probably relate to this has commonly been used in video games for years
Ryan Cartier
@Cartier · 5:00
So what I noticed sets it apart. It's just my observation. But most art lacks movement. However, video movement provides a unique feature. So if I want to be the only person with a certain type of evolving art, this is one of the avenues to obtain it from artists, gaming companies, or other content creators
Ryan Cartier
@Cartier · 5:00
So I think it's actually giving people the impression that you're going to waste their time because you didn't put the effort in. And I really think people should think about that. Are people asking a lazy question? Could you have answered the question by using the phone that's right in front of your face? Wright and some people will interpret this lack of effort is wasting their time. And I think it's good to ask yourself, is that how you would like to brand yourself?
Ryan Cartier
@Cartier · 4:57
The cost of gas varies depending on the network congestion, and the more people transacting over the network, the higher the gas fees and vice versa. So it may be significantly cheaper to find out. Like one thing says on average weekends, fewer people right. You might want to look at that. And if you've heard about EIP today or yesterday, 3368 These are future countermeasure proposals to the increasing network fees
To be honest, it's true, I was just phishing for topics, but thank you so much for teaching me how to set an intention to a question before asking it with fingers crossed, hoping something of value would come up. The reason why I didn't take any time to research is because right now, like right this second, it isn't that high on my priorities list. However, I can see myself trading NFTs in about three or four months'time
Dr. Letitia Wright
@Dr.Wright · 1:07
I don't know very much about it at this point. So I'm reading and listening to what everybody has to say and learning, and that's where I am in this. I definitely think it has legs, though. I don't think it's a fad
mohamad dandashli
@prophit · 0:54
I'm not sure if you can trade it for Bitcoin or not, but I know for sure that you could trade it for Ethereum. So it's a really interesting idea and nice way for artists to get paid all around the world, any type of artist, it makes life easier for artists and gives more people opportunities to make money. But it's a really good thing. It's
Ryan Cartier
@Cartier · 2:40
So I don't know how much power is needed to break a public cryptography key, but it is definitely something that we are going to be seeing, and whether someone is working on it right now or they will be in the future. It's something that we're definitely going to have to deal with companies and the government, and anyone who has information that it causes a liability needs to be thinking about this now