Hell yeah, it was a good run for the blogosphere
blockchain and cryptoart: how we get free? or how we get fucked (as usual)?
srcinvsbl
#43
āThe poetry of a dying civilizationā. Fuckinā hell, that just nails modern art right to the bloody wall. Thatās a really good write up hey, thanks for putting that up
nickecks
#44
Yeah I do my best not to be a theory wonk on here but sometimes it is what it fucking is. The simulacra of the art, not the art itself, posing as money.
nickecks
#45
That being said, I think itās important not to simply dismiss this as a trend. It is disruptive, somewhat populist, and also seems to be being talked about in trickle-down terms regarding how it will help the average starving artist. I smell bullshit.
Anyone minted their own yet? Experiences?
srcinvsbl
#47
Good write up over at Hyperallergic about the environmental impact of all this. Pretty mind boggling power usage
DeFi_Kid
#48
Nfts on ETH are too expensive for the poor producers budget. I recommend third generation defi that can print nfts for no cost
realhotwobble
#49
Youāre crypto rich and you want to flex by proving you actually paid 100 ETH for the CryptoPunk GIF you use as your twitter profile?
OK. You own real estate in a spreadsheet cell everybody else has a copy of.
A lot of the blockchain people iāve talked to feel the same way.
The current NFT bubble is a a lot of annoying hype and it will pop. Lots of peopleās NFT purchases will end in tears. a few will be worth a lot of money. like baseball cards. I have no interest or expertise in any of that.
That said, i think the underlying technology is really powerful. Both with NFTs and DeFI weāre still very much in the phase where people are just proving that this stuff can be done. Most of it isnāt ready for primetime and widespread adoption due to the energy use, fees, and overall clunkiness. All of those things are in the process of being improved.
Compound is a great example in the DeFi world. Instead of putting dollars in the bank and earning 0.02% interest for the privilege of letting them gamble with your money, you can deposit tokens worth $1 into a smart contract that earns 5-10% interest. cool technology, but the fees are still too high unless youāre putting in a lot of money.
The possibilities that are more exciting for us but not ready yet:
-DAOs and governance tokens that allow you to vote on changes to the platform you use to sell or stream your music. starting to see some of this in music, but it seems only very technical people are able to create DAOs.
-being able to use an NFT to prove that I contributed to a piece of music and collect my royalties as they happen. (I donāt use this service and canāt vouch for it, but I was told today that you can kind of do it already with a service called Paperchain)
-being able to buy and transfer ownership of a thing thatās actually scarce and generate a royalty for the original creator when its sold. something like a test pressing, piece of hardware, signed merch, the project file for a track
-being able to mint event tickets that are resistant to being scalped on the secondary market.
Iām not participating in the NFT world for now. Maybe once some of the energy and scaling issues are improved. in the meantime, i think itās wise to start learning about how the underlying technology works and start accepting some of the bigger cryptocurrencies as payment if it applies to you, especially if youāre a freelancer.
Like it or not, it appears this stuff is here to stay.
srcinvsbl
#50
Hereās a good breakdown of Beepleās NFT sale. Goes pretty in depth explaining how it works:
https://securityboulevard.com/2021/03/deconstructing-that-69million-nft/
Briandance
#51
If anyone wants to fool around with NFTs without destroying the environment and their wallets thereās this site https://www.hicetnunc.xyz/ which runs on tezos, a proof of stake currency that uses a fraction of the power of proof of work.
weirdoslam
#52
how much is minting and gas fees there? thatās also a big barrer to NFTs for a lot of people on an economic level
Briandance
#53
Not much. Iāve minted a couple of things and sent a few people objects and itās cost around $1 in total so far.
FX86
#54
Anyone have thoughts on Friends With Benefits or other DAOs? https://ra.co/features/3914
Using public ledgers to ensure the equitable distribution of profits from labels, club nights, etc. sounds all well and good. But why does anyone think building an artistic community around a highly volatile speculative asset is a good idea?