Forum - View topicINTEREST: CEO of Japanese Art Commission Platform Skeb Warns of Misinformation Around NFTs
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Blanchimont
 Posts: 3445 Location: Finland |
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He basically said the same thing I did in my post in an earlier thread;
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Sirsumsrince
Posts: 17 |
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NFT's are like beanie babies but worse; when your link no longer works you've got nothing to show for it while beanie babies can at least be given to younger relatives.
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AmpersandsUnited
Posts: 633 |
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I'm not sure why some people seem so against NFTs specifically, but that pretty much applies to everything out there. I mean, people get called stupid for buying anime or video games because they're both so freely available and anyone can download them and paying for them is pointless. Things have value because people place that value on something. Obviously the people who spend money on things do so because it has value to them, even if other people don't see it the same way. |
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510
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That's not true, most people spend money for the sake of spending money. Especially when it comes to memes like NFT or digital-only video games. There's no value in it. |
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Redbeard 101
Oscar the Grouch
Forums Superstar  Posts: 16935 |
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Yes, but with anime or games you own an actual physical product. You can tangibly hold it. Regardless if you could download it for free and watch/play it, the fact remains in that example you brought up you still own an actual tangible product. With NFT's you in essence own a digital certificate that states you own a product while not actually having that product physically. |
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AmpersandsUnited
Posts: 633 |
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Well, in the era of streaming that's a bit more debatable since you're not getting anything physical by subscribing to a streaming site, if anything downloading a torrent gives you a video file at the very least. But maybe a better comparison is like people who play gacha games or buy cosmetic items in online games. You don't actually get anything other than a sense of satisfaction and temporary dopamine hit of enjoyment for doing so and in the long run it'll be gone once the service ends. So it's basically about erasure of the physical media and being replaced with a digital-only market? I agree that's something I don't like |
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Alan45
 Village Elder Posts: 9835 Location: Virginia |
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@AmpersandsUnited
There are couple of differences between NFTs and streaming media or in game purchases. The first is price. A subscription to streaming media tends to be consistent with what you are getting. I just paid $60 for a whole year of Crunchyroll. If I don't get my money's worth, that is my fault. The prices I've seen quoted for artwork attached to a NFT seems to be an order of magnitude (or greater) higher. The other is the perception of what you get. This seems to be the concern of the article. If I subscribe to a streaming service I get access to both their new offerings and their back catalog for the period paid for. From what the article says, I'm not sure just what purchase of an NFT would give me. Apparently not copyright, what?? Just the ability to view the artwork on my computer when I happen to think of it? |
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Yttrbio
 Posts: 3652 |
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No, you have that ability even without the NFT. It's more like a deed of ownership that isn't backed up by any law. But if people agree that the deed is the deed, you own it to those people.
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NezumiVA
 Posts: 24 |
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Also, buying memorabilia online/signing up for a streaming service isn't extremely environmentally detrimental, lol, so there's that difference too, obviously.
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Yuvelir
 Posts: 1545 |
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What do you mean paying consuption taxes? I thought crypto was all about avoiding taxes and any legal liability!
Seriously though, burn crypto and everything related to it before it burns us all. When I thought it couldn't get worse, they came up with this Ponzi scheme.
Purchasing a NFT is like buying a slip of paper that says you own a plot of land on the moon from some random person in the streets. There is no proof of anything and the paper is pretty durable, but the coordinates of the plot might outright disappear at any moment. P.S.: actually, there is this thing explaining it better https://i.imgur.com/LFrRYwY.png |
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animefan57892
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Decentralized crypto offers alternative to flat currencies, which is control by centralized authority (government/central bank). And their values are going down by the day (i.e. your savings is worth less by the day, inflation is a hidden tax on regular people's savings). Comparing to gold/silver, crypto is easily accessible to regular people. For example, bitcoin (deflationary currency) is decentralized and the total amount of bitcoins is fixed. Basically, bitcoin itself is gold. (not every crypto is decentralized or has finite amount, those cryptos are as worthless as fiat currencies.) The "environmental impact" of mining crypto is greatly exaggerated. Cheap or free energy (renewable energy) is preferred. Besides, don't forget the elephant in the room: US military; China's greenhouse gas emissions exceed those of all developed countries combined. |
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Alan45
Village Elder Posts: 9835 Location: Virginia |
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Sounds like the people who used to put out "Limited Edition"* prints have found a way to get their money without actually going to the trouble of printing the thing. I'll stick to my old anime posters, thank you.
*Limited to the number of people we can reasonably expect to pay our inflated prices for it. |
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tsog
Posts: 223 |
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No kidding. Saw one of my favorite artist sold NFT to his art for 5 ETH (~$20K as of time of post): https://foundation.app/@mushimaro/~/99556 If this was a traditional sale that includes copyright, I can understand. After all, companies commission illustrators for game/light novel designs all the time. But NFTs don't give you that and it's very much pure speculative value.
1. Crypto is still valued against fiat currencies today. Most places that sell things and accept crypto price items in fiat currencies. Until goods are widely priced in crypto, crypto is just an intermediary to access fiat currencies. 2. I prefer low single digit annual inflation over single/double digit fluctuations in value from day-to-day. Volatility in currency hurts the ability to plan purchases; imagine if I get paid on Monday in crypto only to find that its value dropped 20% by end of the month when I need to pay my bills. Besides, crypto doesn't solve inflation. If value of crypto goes up (essentially I have more "money" now), what's to prevent retailers from raising their prices since they realize people have more crypto value to spend now? This is exactly one of the causes that drive inflation (just look at the stimulus bills over the past two years pumping trillions of dollars into the economy and how housing/cost of living increased more than usual in the last year). 3. Fiat currencies are more accessible to regular people than gold/silver as well When crypto gets big enough, governments will step in. It's not a matter of if at this point. Governments will step in in order to maintain control of currencies for various reasons, including to prevent speculative valuations wreaking havoc on the economy as well as less benevolent reasons like maintaining ability to sanction persons/entities by restricting their access to currencies. |
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xxmsxx
 Posts: 563 |
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^ Thanks for the explanation, although I think the original comment is more about how they don't like the government controlling stuff. That is a lot more fundamental difference than just crypto.
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Yuvelir
Posts: 1545 |
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Governments ARE starting to step in when it comes to crypto. China has already taken some measures. And others will follow, if anything because it's facilitating several kinds of crime so much.
It's a failure as a currency anyway. The blockchain just can't handle a fraction of the transactions per minutes that any bank does (and how much energy is consumed for every transaction, this is the polar opposite of "efficient"), and the moment it started being used as a commodity to buy/hold/sell with/for real currencies and rarely if ever being accepted to buy goods or services, it was already no longer a currency. |
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