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JPG File Sells for $69 Million, as ‘NFT Mania’ Gathers Pace


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I was just talking about this with an art major buddy of mine. If any digital artist is going to get paid for his work, beeple is just about the most obvious choice. In this case, he's selling a collage of all 5000 of his work a day pieces.

 

I just can't help feel like a physical media snob. If this was $69m for a single, signed print off this collage I'd totally buy into this being a legit art purchase. For an NFT, though? Will they even still be a thing in ten years? How about hundred? Other works that have some for this much can be expected to survive for hundreds of years with the right care. There's no laptop or computer on Earth we can expect the same thing from. There's certainly no way of even knowing if there'll be a system to confirm our even read the metadata on an NFT a hundred years in the future and I sort of doubt there will be. I'd hate to be right because I can empathize with the idea behind NFT, but I'll be long dead by then so nobody can prove I'm wrong.

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This NFT nonsense is so crazy to me. It's still a jpeg, it's not creating digital scarcity of this item, it doesn't even transfer rights or even ownership (at least not by itself).

 

We're just in a crazy crypto boom and people are assuming anything on the blockchain will rise in value.

 

All the power in the world for artists who are making money doing this, but I don' think it makes any sense at all to purchase these things.

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2 minutes ago, DarkStar189 said:

I've been reading a lot about NFT lately but my brain can not comprehend it....Seriously starts to feel like I'm on another planet. 

 

My favorite bitcoin experience is being in a strip club with a couple of friends and one of them started trying to explain bitcoin to one of the strippers. I forget why it came up, I think we may have just been talking about it for whatever reason when the strippers approached the table.

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4 minutes ago, Jason said:

 

My favorite bitcoin experience is being in a strip club with a couple of friends and one of them started trying to explain bitcoin to one of the strippers. I forget why it came up, I think we may have just been talking about it for whatever reason when the strippers approached the table.

Did he try to tip her by giving her a USB stick?

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Just in the last couple of days was the first time I'd actually seen pictures of what some of these giant crypto mining facilities look like. I'd read descriptions of them, but it didn't quite get that it was on THIS scale.

 

Absolutely raze all of this shit to the ground ASAP.

 

1200x-1.jpg

 

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1 minute ago, Ricofoley said:

Just in the last couple of days was the first time I'd actually seen pictures of what some of these giant crypto mining facilities look like. I'd read descriptions of them, but it didn't quite get that it was on THIS scale.

 

Absolutely raze all of this shit to the ground ASAP.

 

1200x-1.jpg

 

 

This is why you can't buy a new graphics card.

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6 minutes ago, Ricofoley said:

Just in the last couple of days was the first time I'd actually seen pictures of what some of these giant crypto mining facilities look like. I'd read descriptions of them, but it didn't quite get that it was on THIS scale.

 

Absolutely raze all of this shit to the ground ASAP.

 

1200x-1.jpg

 

This is what drone strikes should be used for.

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18 minutes ago, Ricofoley said:

Just in the last couple of days was the first time I'd actually seen pictures of what some of these giant crypto mining facilities look like. I'd read descriptions of them, but it didn't quite get that it was on THIS scale.

 

Absolutely raze all of this shit to the ground ASAP.

 

1200x-1.jpg

 

Evergreen tweet

 

 

 

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