sounds roughly the same, yeah.
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My guess would be these people know damn well they’ll be taken down soon, and this is actually not an attempt to sell our music to others, but to get us (artists) to buy a cryptowallet so we can claim our ‘profits’ which aren’t there.
This whole nft thing seems like a scam to get more people to buy crypto actually, I don’t believe most of them actually think they’ll make a profit selling nft’s.
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Correct. The major NFT marketplaces use Ethereum. I suspect that most founders of these marketplaces have large Ethereum holdings. So, they profit from their cut of NFT sales AND the increase in the overall value of Ethereum. Yes, it’s in their interest to get more people buying crypto.
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God, i never thought of a scenario in the past where i’d prefer the RIAA to another person, but the followers of the “Austrian School” of economics are dogshit.
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Yes, every fake “product” like this is a ploy for investment into a negative sum cryptocurrency ecosystem (Bitcoin/Tether and Ethereum primarily, extracting value into the real world requires buying, swapping, or involvement with any or all of these at scale.) They need greater fools to put their liquidity in so they can move actualmoney™ out of the ecosystem.
“NFTs” are the latest use case nobody asked for and appeal to the stupidest, greediest humans, so crass that it has the effect that there is no empathy for the naive speculators, and the orchestrators for the most part get away with it.
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In a way I kind of like it cause it brings so much bad press to NFTs
God I hope I’m not becoming an accelerationist.
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The problem is that once people sour on NFTs they’ll find a new stupid token gimmick and start over.
The value add is in the scam, the technology exists as a bell and whistle to persons who don’t understand economics, technology, blockchain, but really like feeling powerful and cool.
It’s an internet fedora for the NEET set, basically.
To accelerationism, I don’t consider this the same.
We want artists protected from ancap fracking, big money is already fleecing the lower classes, we don’t want this to get even more “too big to fail” and have the negative sum game pumped with PUBLIC funds to bail out scammers yet again.
The sooner the stablecoin criminal racket gets busted, the less people will get hurt, the less all of our finances get intermingled with pyramid schemes.
This, but world scale and ugly, artless, procedurally generated avatars.
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NFTs convey no ownership
These NFTs convey no ownership, but if a legitimate/centralized party mints NFTs and recognizes the validity of the ones that they create, then those could/would convey ownership. Like a more open DRM system, basically.
One of the practical applications that’s come up are things like in-game property…specifically things that are intended to be rare and/or rewards for one-time events (stuff like RuneScape hats, Fortnite skins, Fallout legendary weapons, etc), where the NFT tech can help prevent duping of these items and to allow for individuals to legitimately trade items outside the game.
This stuff is still in its infant stage, so expect to see more scam attempts before the legitimate uses take hold.
I don’t own a star because i bought a map that had my dog’s name on it.
None of what you’re saying is a value add, in a legal or technical sense.
It’s a completely worthless speculative scheme.
All this “it could” is bullshit that hasn’t been pondered with any depth or skeptical eye and has been argued over and over without listening to the people who actually enjoy games, music, and content.
It does not protect us, it preys on us. And even if your pleas here are well intentioned we’re losing patience with the ecosystem designed to prey on us and “extract value” from us doing art for enjoyment and as a profession.
Dollar signs in eyes are dragging us all down.
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As an aside, this is the best breakdown of NFT’s and crypto I’ve seen if anyone’s interested;
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Every single thread on the internet needs this. It can’t be posted often enough 
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I don’t own a star because i bought a map that had my dog’s name on it…None of it is value add.
The title to a car doesn’t stop me from smashing the window out and hauling it to a chop-shop. The title only has value because we collectively believe it does, and there’s a centralized authority who agrees to back us up on that belief if we continue to pay them a tax every year. A centralized authority that mints the NFTs and validates the legitimacy when checked would be no different.
Of course, there’s also a “taxes are always a scam” crew just like there’s currently a “NFTs are always a scam” crew. There are also people with a vested interest in portraying certain new technologies in a negative light because it poses an existential threat to existing power structures and schemes. Plenty of them write articles too.
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There is no need for a decentralized “registry” that says i own your house, but i’m happy to repossess your house because bucket shops and boiler room operations decided otherwise.
The entire purpose of this thread is that decentralized registries don’t protect, they harass and steal the work of others to create the illusion of product.
That’s their entire point, to prey on the value and work of others.
If you don’t understand the scam, read the article that explains what happens with “democratized decentralized registries” which AGAIN SOLVE NO HUMAN PROBLEMS but line go up.
The crypto ecosystem exists to transfer wealth from the masses to a small core of elite grifters, it mirrors traditional society but shapes it into something even further resembling serfdom.
I don’t give a fuck that it’s the 5% wealthiest world figures robbing me over the 1%, they can all rot in hell. I’m not ceding control over even more of my life to the wealthy no matter how many “ape strong” or “WAGMI” catchphrases try to obscure the schemes.
There are issues in banking, wealth disparity, and the class hierarchy.
Going on a speedrun of modern economics is an “Austrian Economics” thing that posits that we’ll all be better if we implicitly trust untrustworthy persons because it “can’t get worse” than what we have.
There’s the line that OSHA safety regulations are written in blood, and in some cases, regulatory capture does protect bad operators.
But if aspects are bad and unfair and weighted, that doesn’t make this better, or even materially different than the worst pyramid schemes in history, it offers us nothing better and a lot we’ve seen that is worse.
…also the technology sucks ass and the art is shit.
It’s all so holistically stupid and we are sick of hearing about the amazing brocade on the Emperor’s cloak.
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Is it weird that I’m a little upset that my music hasn’t been stolen 
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No, I understand that, but I assure you; you don’t want the day I’m having.
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This kind of sounds like a viable use case, but I don’t think it is. Say you issue a digital album in a limited run; there’s an NFT title issued for each copy; you mint 20 copies. They’re WAV files with an accompanying link.
Well? The WAV can be copied just as easily as before. The purchaser has a legal right to the music, but they already do now if they buy it from wherever. I guess there’s a record of who has supported you financially, but there are easy ways of doing that already. So what have you done other than introduce another layer of rent-seeking in the form of the NFT marketplace and Ethereum exchanges?
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I know you don’t believe this, but use cases are just a set of MLM style promises without any understanding of law or business.
It makes someone feel like a crazy person by having to explicitly say that it’s all made up in search of finding rubes. Some of which who believe it and are a low tier mark, and some who say it but do not believe it and are a higher tier grifter.
Also, the whole “hats” thing was already done by Valve and the Steam marketplace decades back with no blockchain or tokenomics.
Since you don’t need blockchain, the overarching scam is the only value-add to differentiate crypto business from the business that came before and the technology that actually works, used to sell sell non-conceptual products.
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Can’t wait for this whole crypto scam to be outlawed. Fucking libertarian bullshit 
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Yeah, it’s not the only brand of hypercapitalism, serfdom, and forced microtransactions being forced on us these days by a credulous corporate
media, but it’s certainly interconnected.
We need to push back against all of it, but we don’t have threads about how awesome and disruptive the growing gig worker underclass is at least.
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