Non-Fungible Tokens

[Wilhelm44]

Could the concept of: everything is money now,  indirectly be pointing to: everything is consciousness ?  What if something like NFT's, which seem shallow and superficial from the outside, are actually symbolic of a shift in collective consciousness towards a more abundant world ? I just have this feeling that the collective consciousness can change a lot faster than we have been use to up until now. And that a new and more abundant world is possible much sooner than predicted. Where money becomes so abstract that eventually it disappears all together. 

[JosephKnecht]

4 hours ago, Wilhelm44 said:

Where money becomes so abstract that eventually it disappears all together. 

Money is a communication of value.

If you value everything equally, why would you need money? 

[Wilhelm44]

Exactly. So once we reach a certain tipping point in the number of people who see this oneness perspective, then the need to have money in society will begin to dissolve naturally. Until then we need to see money as the magical teacher that it is. 

[Lyubov]

lol this is not what is going on with NFTs 

[Wilhelm44]

Feel free to share your perspective with us Lyubov 

[vladorion]

Don't see how NFTs are shallow or superficial. It's just a technology which can have many different use cases.

If you're talking about NFT art specifically, then I agree. It's ridiculous, to be honest. 

[Wilhelm44]

Yes you right Vladorion, I should have been more specific. For example, there was a bid of $9400 for a NFT of Mark Cuban dancing at a NBA game. Yet I do see influential people like Gary Vee promoting NFT's as a way for creatives to make money. Only time will tell where this goes 

[vladorion]

45 minutes ago, Wilhelm44 said:

Yes you right Vladorion, I should have been more specific. For example, there was a bid of $9400 for a NFT of Mark Cuban dancing at a NBA game. Yet I do see influential people like Gary Vee promoting NFT's as a way for creatives to make money. Only time will tell where this goes 

Yeah, I think Gary Vee is good at following trends and money making opportunities. It's probably a good way for creatives to make money, although I see 0 value in buying those NFT assets other than selling them later at a higher price. I think it's mostly about speculation and vanity ("I have exclusive rights to this image/video").

[Wilhelm44]

I agree, and as far as art goes, that NFT is suppose to give one exclusive ownership of a piece of digital art, yet that same piece of digital art is probably available all over the internet in exactly the same form anyway. Seems like it's speculation in imaginary value. Or am I missing something here ?

[Lyubov]

3 hours ago, Wilhelm44 said:

Feel free to share your perspective with us Lyubov 

NFT art stuff is a total bubble and late stage capitalism disappearing up it's own rear. like crypto currency though the tech behind it is pretty cool and will probably have legitimate uses in 10/20 years. 

Edited March 16, 2021 by Lyubov

[Lyubov]

1 hour ago, Wilhelm44 said:

I agree, and as far as art goes, that NFT is suppose to give one exclusive ownership of a piece of digital art, yet that same piece of digital art is probably available all over the internet in exactly the same form anyway. Seems like it's speculation in imaginary value. Or am I missing something here ?

it's a total joke. it's basically a receipt saying you spent a bunch of money on nothing. NFT does not grant you publishing rights to the image necessarily. the NFT is not the digital image itself and unlike skins in a video game you can't do anything with the image or show off the art in some exclusive way except perhaps on some website saying you own the NFT. it is just a token that says this digital image is yours in the most imaginary way possible and has a few other features like if you sell it again the original artist gets a share.  

[Wilhelm44]

Thank you Lyubov. I agree, it boggles the mind that someone is prepared to spend loads of money for something worth nothing in the gamble that someone else might value that worthless item even more. Was quite interesting though in the last part of that video where they talked about the possible use of NFT's to be sold as part ownership/voting rights in Youtube channels etc. 

[JosephKnecht]

1 hour ago, Lyubov said:

it's a total joke. it's basically a receipt saying you spent a bunch of money on nothing. NFT does not grant you publishing rights to the image necessarily. the NFT is not the digital image itself and unlike skins in a video game you can't do anything with the image or show off the art in some exclusive way except perhaps on some website saying you own the NFT. it is just a token that says this digital image is yours in the most imaginary way possible and has a few other features like if you sell it again the original artist gets a share.  

NFTs are the metaphysical search for true value. 

What is the true value of a tweet? What is the true value of digital art? 

Is the market value(value that the free market pays for an item) its true value, or true value exist beyond the market?

Notice that the current trend of the NFT market is created on the Ethereum platform. Thus, the source of truth for NFT is validated against the Ethereum platform. But what happens if Ethereum didn't exist? Without Ethereum, is there another Ethernal source of truth?  

[Wilhelm44]

Thank you Joseph, that's kind of what I was hinting at in the introduction, that with something like NFT's there's something deeper happening in the collective consciousness. I imagine this transitional period where literally everything is assigned a monetary value until it becomes so absurd, and blatantly obvious that the only true value is the light of consciousness shining through it all. 

[Lyubov]

6 hours ago, JosephKnecht said:

NFTs are the metaphysical search for true value. 

What is the true value of a tweet? What is the true value of digital art? 

Is the market value(value that the free market pays for an item) its true value, or true value exist beyond the market?

Notice that the current trend of the NFT market is created on the Ethereum platform. Thus, the source of truth for NFT is validated against the Ethereum platform. But what happens if Ethereum didn't exist? Without Ethereum, is there another Ethernal source of truth?  

Honestly I haven’t really contemplated what is existentially going on here with NFT but what it looks like to me is there are some really rich crypto people just trying to show off their cash in some new way and hoping it becomes a thing so they feel special having participated in some new crazy tech fad. I don’t think the people dropping serious cash on these are doing so as an investment. 

[Wilhelm44]

Datamonster I hear you, there's something about it which excites me too. Especially the part about creatives making a good living from their art. From the buyer or speculator's perspective I don't quite get it though, seeing as most of those digital art works are available in similar format all over the internet anyway, or am I wrong ?

[Wilhelm44]

That's an interesting perspective. And I guess creatives can simply be thankful for a new avenue to make a living doing what they love.