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You know how people pay actual money for extra emojis on their phones, or for outfits/skins for video games? Or when Wutang made that 1 copy of their album and sold it? Yeah, it's like that except the 1 copy is digital only. The next crazy stupids craze I will never understand but people will get rich off of.
Kevin Smith is releasing his next movie as an NFT to the highest bidder. That person can do anything they want with it.
Quoted from Bublehead:But my argument there would be how can you "own" the first tweet? It was an event in time/space that happened on a specific day, at a specific time... it was a simple text phrase "just setting up my twttr," and the application processed it and sent it out, and stored it in the database. This "tweet" is nothing but a string of 200 ones and zeros that were processed. There is no actual value to this jumble of digital data, no matter what supposed "provenance" you attach to it using blockchain technology... somebody actually paid 2.9 million dollars to own 200 bits of information that were created by some monkey sitting at a keyboard tap tap tapping in 25 ascii characters. Hell, this post includes that identical string of bits but its worth is just my own two cents.
Our overall idea of what things are worth is changing.
I look at digital assets like patents (loosely). Patents are ideas, and in many cases may never be actualized into tangible items, but they still are worth whatever someone would pay for them.
That isn't to say I necessarily agree with all the use cases. I also look at 'digital' items as things that can easily be copied in one manner or another. The more valuable something is, the more people are going to try to hack, steal and/or copy it. Digital (regardless of encryption/blockchain etc) is one of the easiest things to steal/lose/copy/whatever. I think the biggest issue though is survivability. The area I am unclear on is as with all digital items....okay so the NFT is made 2021 on current systems. In 200 years, will it still even be accessible for others to see (say in museums).
A few somewhat practical ways this could be implemented in Pinball is...custom animations, custom artwork, custom callouts....etc.
Quoted from NTXCoog:But that person likely cant do anything they want with it depending on the copyright agreement. Its unlikely that person can release the movie in theaters, but that person could sell that NFT copy to another person who would have those same restricted rights.
Supposedly there is no copyright on it in normal terms. Whoever wins it, owns it, and it did mention they could release it in theaters, stream it, copy and give it to others, etc if they so chose to.
Quoted from woody24:I have gone down a deep rabit hole, and have learned pretty much everything about NFTs. Well, almost. For the last couple years, I've been avoiding NFT's. Or I guess just ignoring. But as a designer, something sparked in me the a couple months ago, and spend way too much time figuring them out.
In a way they're cool. In another way, they're stupid frustrating when you see people making millions off of cheap illustrations. They're like digital trading cards. Some are common, some are "Rare."
I think we're still in the beginning stages of NFT's and they aren't even being used the way we'll use them 10 years from now. Think of NFT's like a digital fingerprint. Something that can identify ownership of a digital file. We may soon be able to purchase and re-sell music or movies. And NFT's allow for the creator to get royalties from reselling, something studios have hated about resell shops.
And who knows, we also may be able to track ownership of physical goods too. Think deeds to land or house. Cars, etc. It could be more secure than the paper-trail we leave today will all those transactions. Again, still all early. But could change drasticly in the future.
But, if you're currently into NFT's, I've got a couple things right now. Cassette tapes and my Medium format film photos. Note, if you purchase a Medium format film photo, I'll mail you a 14in x 14in physical photo.
Cassettes: https://opensea.io/collection/crypto-mixes
Medium Format Film: https://opensea.io/collection/developed
Good luck. My biggest headscratcher of the current craze is what pops and what doesn't. I get that art is subjective, but...wow.
Quoted from woody24:I get the community portion, sorta. Been following a lot more NFT and Crypto people on Twitter, and man, it's a whole other world. People are crazy about the bored ape social aspects. Like owning a Ferarri or Laborgini.
But don't feel that every collection needs to be a community. I've seen a lot of projects where they give their 8 step roadmap, and exclusive discord whatever. I don't care about any of that. And really, I'm sure 99% of the creators don't ether. It's just something they feel they need to show. I'm not going to join a Discord channel based on an avatar.
But I do see some projects, like the Dogami, that would benefit from a community.
I just think that the next evolution will be geared more towards those larger players and less on individuals like myself. A lot of money will be invested in the creation of their NFT project. Unlike me trying to sell my film photos.
Well...part of my issue with how it is being utilized right now is fake hype. It's very similar to how new release indie games gain traction. Whoever is hyping them on social media and then their followers flock to the same thing as the next great thing. It is fleeting. Few people WANT these. They are buying them based on if they think they'll go up in value or not. Art in general doesn't work that way until many many many years later.
I do see actual aspects of the NFT idea as useful in the future, but those aren't the aspects being touted currently - at least by the majority.
Quoted from RCA1:This might be a stupid question, but why not just market the utility for whatever that is? Why does it need to be connected to an NFT with no underlying value?
because technology doesn't grab the same people and bores most. They are making millions off of people who are like "ohhh my monkey has a beard".
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