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NFTs for music / auction music to the highest bidder via crypto tech


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NFTs are so fundamentally offensive as a concept when I was reading some article giving a primer about what they are and how they work I just gave up and said "man, this is so fucking stupid."  L

raise the minimum wage at an excruciatingly slow pace over the next few years? lol absolutely not that's too much. buying a pixel for like a billion dollars? hell yeah man, fucking Stonks dude. s

The dumbest trend of 2020s (so far). I feel like I should just unfollow every label and artist who pushes this bullshit.

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This article talks about the amount of energy that is needed to facilitate this type of auction. Pretty sure I got the link from here, probably the cryptocurrency thread. Read it and be outraged.      

https://memoakten.medium.com/the-unreasonable-ecological-cost-of-cryptoart-2221d3eb2053

 

12000 for a 6 second sound snippet and a vaporwave gif. flol.

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probably going to hold off too much yapping until others might have their chance to read and share their opinions, so i'll just follow up with this:

https://foundation.app/blog/nfts-are-transforming-the-digital-art-world

Quote

What are NFTs?

NFTs, or "Non-Fungible Tokens," are one-of-a-kind tokens that represent a unique good or asset. They’ve been called “crypto collectibles” because, much like trading cards, NFTs can be bought and sold by collectors. With scarcity and demand comes value—and when you add virality into the mix, NFTs representing digital art have the potential to open up dynamic marketplaces where creators can release unique artworks, and collectors can have fun buying and trading them.

If a digital artwork is already online, how does ownership work?

The cool thing about NFTs is that they use blockchain technologies to keep track of provenance and ownership, without limiting an artwork’s ability to freely circulate in the digital realm.

While we believe that digital art accrues value the more it’s seen and appreciated, we also think that artists should be compensated for their work. With NFTs, artists are empowered to sell digital artworks as unique objects, without limiting the ability for that artwork to move through networks. So in effect, NFTs give us the best of both worlds: digital art can be sold to a collector, while still remaining accessible to everyone else.

The secondary trading of digital art using NFTs makes things even more exciting. As an artwork picks up traction and gains more admirers, the original collector can choose to resell it to another collector for a higher price. Our model is that every time an NFT is traded on Foundation, the artist makes 10% of that secondary transaction. For digital artists, this opens up a transformative secondary market that rewards them financially when their work grows in value.

 

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59 minutes ago, user said:

12000 for a 6 second sound snippet and a vaporwave gif. flol.

currently 15,000+usd equivalent with 2 hours to go.  this looks like a stupid fucking hypetrain.  they're bidding for some vague sense of ownership over an artificially induced 'original' (which can still be copied/pirated by its nature)?

seems kind of like that wu tang album that sold one copy, basically a big egotrip (as portrayed by its buyer)

Edit: wait.. this is the 6 second gif, no?  so there's not even an attempt to make it scarce (which the wu tang album actually succeeded in doing).  I sound like an old curmudgeon but now I really don't get the point

 

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i've been seeing a lot of these NFT's lately starting with zed.run (virtual horse racing with fake horses) and even land on the blockchain (people selling and rent "land") and personally, i can't buy into it partly because, for a lot of these "products" it's almost like they exist for the sake of giving the cryptocurrency a reason to exist, especially in the case of ETH that has some silly gas prices attached for microtransactions

 

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I wish I could remember who coined the phrase (possibly someone from the cookdandbombd forum) but it definitely applies here: shit for cunts.

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2 hours ago, user said:

This article talks about the amount of energy that is needed to facilitate this type of auction. Pretty sure I got the link from here, probably the cryptocurrency thread. Read it and be outraged.      

https://memoakten.medium.com/the-unreasonable-ecological-cost-of-cryptoart-2221d3eb2053

 

12000 for a 6 second sound snippet and a vaporwave gif. flol.

really sick of this propaganda.  the ecological cost is fixed regardless of what is done on the blockchain.  as the technologies advance, scaling will improve blockchain block space usage algorithmic complexity

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5 hours ago, mcbpete said:

I wish I could remember who coined the phrase (possibly someone from the cookdandbombd forum) but it definitely applies here: shit for cunts.

wasn't sure whether to post this here or in the daft punk split after 28 years thread:

Quote

Newly minted crypto fan Lindsay Lohan is selling a Daft Punk NFT for over $15,000. And while crypto collectibles are designed to be provably authentic, we can't yet determine if this one is the real deal.

Screen-Shot-2021-02-22-at-1.49.17-PM.png

https://decrypt.co/58592/daft-punk-lindsay-lohan-nft

https://app.rarible.com/token/0xd07dc4262bcdbf85190c01c996b4c06a461d2430:147868:0x3781d92e5449b5b689fee308ded44882085b6312?tab=history

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I don't understand the appeal of this for the ordinary consumer. so you have the option to pay possibly thousands of dollars to own an electronic token which gives you the right to publish the art (does this cover using it in any possible way, e.g. sampling, altering, remixing, redistributing on other platforms, etc?), if the artist who still has final say approves? what is the appeal for someone who just wants to download and listen to some tunes?

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10 hours ago, cyanobacteria said:

really sick of this propaganda.  the ecological cost is fixed regardless of what is done on the blockchain.  as the technologies advance, scaling will improve blockchain block space usage algorithmic complexity

Wasn’t aware I was spreading propaganda. What do you mean by “the ecological cost is fixed regardless of what is done on the blockchain.”?

Fixed as in set or fixed as in repaired and done on the blockchain as in what it’s used for or how many computational cycles are needed? Either of those I still don’t understand btw so please explain. 

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As we reach a zenith of technological ideologies, WATMM stands at the frontier of a new era. You have the choice to be the change in the world– to push boundaries even further.

We invite you to join our newest innovative forum build, designed at its core like nuclei firing amongst themselves, independant, beautiful. Do not dwell on the redundant net. Now is the moment of choice. Make your choice. Imagine where we can go. Each thread a JoyCoin™ away. Greatness awaits. It's never been this hip to be square.

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27 minutes ago, user said:

Wasn’t aware I was spreading propaganda. What do you mean by “the ecological cost is fixed regardless of what is done on the blockchain.”?

Fixed as in set or fixed as in repaired and done on the blockchain as in what it’s used for or how many computational cycles are needed? Either of those I still don’t understand btw so please explain. 

https://forum.watmm.com/topic/94506-cryptocurrency-as-the-next-significant-stage-for-computing-technology-not-just-an-investment/?do=findComment&comment=2855146

basically its using the same amount of energy per minute regardless of whether anyone does crypto art, and the efficiency of the blockchain increases with technological innovation to include more transactions over sufficient time periods to decrease net cost per tx

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44 minutes ago, cyanobacteria said:

https://forum.watmm.com/topic/94506-cryptocurrency-as-the-next-significant-stage-for-computing-technology-not-just-an-investment/?do=findComment&comment=2855146

basically its using the same amount of energy per minute regardless of whether anyone does crypto art, and the efficiency of the blockchain increases with technological innovation to include more transactions over sufficient time periods to decrease net cost per tx

Sort of like how the gas mileage on a car doesn’t change wether you use it to go on holiday, drive to a shop or do donuts in a parking lot while blasting 6 second dawless synthjams and firing bitmap art at bystanders from some sort of diy matrixprinter canon? 
 

I know this is a bad analogy because the gasmileage on a car does change according to various variables and the matrixprinter canon is purely hypothetical. For now. 

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16 hours ago, markedone said:

currently 15,000+usd equivalent with 2 hours to go.  this looks like a stupid fucking hypetrain.  they're bidding for some vague sense of ownership over an artificially induced 'original' (which can still be copied/pirated by its nature)?

seems kind of like that wu tang album that sold one copy, basically a big egotrip (as portrayed by its buyer)

Edit: wait.. this is the 6 second gif, no?  so there's not even an attempt to make it scarce (which the wu tang album actually succeeded in doing).  I sound like an old curmudgeon but now I really don't get the point

image.png.9e46125b060af8bdab9f106b818be8ab.png

Martin Shkreli, who fucked over millions of people to gain his wealth, was the one who bought that Wu Tang album btw. he's like a much less successful Elon Musk (who is not coincidentally also shilling for crypto now.)

15 hours ago, Nebraska said:

i've been seeing a lot of these NFT's lately starting with zed.run (virtual horse racing with fake horses) and even land on the blockchain (people selling and rent "land") and personally, i can't buy into it partly because, for a lot of these "products" it's almost like they exist for the sake of giving the cryptocurrency a reason to exist, especially in the case of ETH that has some silly gas prices attached for microtransactions

jesus, how many of these things are there? just was introduced to Cryptokitties yesterday. 

10 hours ago, usagi said:

I don't understand the appeal of this for the ordinary consumer. so you have the option to pay possibly thousands of dollars to own an electronic token which gives you the right to publish the art (does this cover using it in any possible way, e.g. sampling, altering, remixing, redistributing on other platforms, etc?), if the artist who still has final say approves? what is the appeal for someone who just wants to download and listen to some tunes?

it's for the cool consumer, not the ordinary consumer. they're not marketing to moms in Kenosha*, they're marketing to techbrowannabes and general always-on internet nerds.

*yet

3 hours ago, cyanobacteria said:

https://forum.watmm.com/topic/94506-cryptocurrency-as-the-next-significant-stage-for-computing-technology-not-just-an-investment/?do=findComment&comment=2855146

basically its using the same amount of energy per minute regardless of whether anyone does crypto art, and the efficiency of the blockchain increases with technological innovation to include more transactions over sufficient time periods to decrease net cost per tx

if the blockchain didn't exist, there would be much much much much less 'cost' to the environment. if thousands of various cryptoscamscurrencies didn't exist then there would be many many many less txs. the growth of bullshit like this increases the illusion that this is real and valid demand for cryptocurrencies and encourages miners to increase supply (or mark the prices up). read more https://help.foundation.app/en/articles/4731476-what-is-gas

3 hours ago, viscosity said:

not a bad way for an artist to auction off their work and make some money, so why not? Ergo has this competition going, was thinking about entering and having a go at Processing:

https://ergoplatform.org/en/blog/2021-02-12-2000-erg-in-prizes-to-be-won-in-the-ergo-digital-art-competition/

note how Ergo is promoting their own crypto, and Foundation is tied to Ethereum, etc....they're all using this to up transactions. that's really all this is for, increasing the crypto bubble. this is where they gain clout and can shave off the profits at the edges.

Processing is interesting tho. have fun with it, but maybe just sell some prints normally instead of feeding the hype machine 🙂

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Proof of Stake solves the crypto mining energy crisis. Ethereum is working towards this and Cardano already has it implemented.

NFTs aside, virtual currency might have some significant real use cases for the future, developing countries could really benefit from a solid financial system that cryptocurrency has the potential to introduce.

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it's possible i'm missing something but how is this even vaguely cool? this would only appeal to wealthy people who are interested in exclusively owning something that already has prestige, like the lindsey lohan/daft punk/$15k thing above. 

i have yet to see any compelling examples of crypto not being really stupid. people bring up how it will be this essential economy for the global south and stuff but all i see is a bunch of scams and another trendy way for wealthy people to make and spend money. by the time there is any infrastructure for "the poors" crypto will just be managed by jamie dimon or some shit. like since when are we pretending that developing countries are allowed to manage their own financial systems lol

can't wait for haiti to roll out their new crypto economy where you can buy a McChicken for only .000005 bitcoin

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7 minutes ago, Alcofribas said:

it's possible i'm missing something but how is this even vaguely cool?

It's crypto, it's definitionally not cool.

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3 hours ago, auxien said:

jesus, how many of these things are there? just was introduced to Cryptokitties yesterday. 

a lot. 

the blockchain art scene is pretty big with the likes of a unique nyan cat selling for $561,000this exquisite pixel collage piece of 319,168,313 bytes currently on auction, a clip of lebron blocking a shot in a lakers game that someone thought was worth $100,000 or my favorite: a tweet by mark cuban that sold for $952

i'm personally looking into minting some personalized "text files" for sale in a couple of months so "stay tuned" 

 

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1 hour ago, Alcofribas said:

it's possible i'm missing something but how is this even vaguely cool? this would only appeal to wealthy people who are interested in exclusively owning something that already has prestige, like the lindsey lohan/daft punk/$15k thing above. 

i have yet to see any compelling examples of crypto not being really stupid. people bring up how it will be this essential economy for the global south and stuff but all i see is a bunch of scams and another trendy way for wealthy people to make and spend money. by the time there is any infrastructure for "the poors" crypto will just be managed by jamie dimon or some shit. like since when are we pretending that developing countries are allowed to manage their own financial systems lol

can't wait for haiti to roll out their new crypto economy where you can buy a McChicken for only .000005 bitcoin

How would a global financial system not benefit third world countries if they had access to it? Being born under unfortunate circumstances doesn't make someone inherently incompetent, it just limits their opportunities. That's the whole point, making the world smaller and connecting people together. Like StarLink, giving more people the benefits of the internet and the potential to help themselves learn and network with others, this works financially also.

 

0.000005 BTC or 500 Sats, not too difficult. Also, I would assume stablecoins might resolve this and the fact that the market is gradually stabilizing itself long term.

 

jest, sarcasm.. Sure some of the people developing cryptocurrencies right now are brilliant and it's fun to pick their nerd brains, but it's not really about that.. it's not a popularity contest if this tech has any utility for the future.

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8 minutes ago, viscosity said:

How would a global financial system not benefit third world countries if they had access to it?

*bulging eyes emoji*

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3 hours ago, viscosity said:

Proof of Stake solves the crypto mining energy crisis. Ethereum is working towards this and Cardano already has it implemented.

NFTs aside, virtual currency might have some significant real use cases for the future, developing countries could really benefit from a solid financial system that cryptocurrency has the potential to introduce.

virtual currency is already happening. depending on how you want to define it, most if not all currency currently accepted worldwide is already 'virtual' and obv things were trending that way long before Bitcoin.

solid financial systems are already in place. nothing about any cryptos are solid right now, and there's a very good chance they never will be. 

1 hour ago, viscosity said:

How would a global financial system not benefit third world countries if they had access to it? Being born under unfortunate circumstances doesn't make someone inherently incompetent, it just limits their opportunities. That's the whole point, making the world smaller and connecting people together. 

so why not use any of the hundreds of financial systems already in place globally? i'm quite sure that's how these 'third world countries' citizenry has already been trading over borders for...idk, ever? 

anyway, really not interested in blabbing about fucking cryptocurrency as a whole unless we're talking about it in that other thread as to how it's going to change the evolution of humanity into galaxybrained alphaChads. 

'breaking new ground'

'rewriting music industry rules'

so fucking cringe.

(edit: forgot to point out the discrepancy in exchange rate...look at my screencapped image a few posts up and now the tweet...are they talking in USD and the value of ETH is changing thousands of dollars in just a few hours? or are they referring to a different money type that they're still designating with $ ?)

1 hour ago, Nebraska said:

i'm personally looking into minting some personalized "text files" for sale in a couple of months so "stay tuned" 

lol not even gonna ask what the text files might contain. but, i'm almost with you on this, could happily throw some bullshit audio up and let some idiots part with their fake money. not sure my morals will allow it tho.

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