It takes a lot of clarity to love NFTs. It takes a particular kind of perspective to be involved in the NFT space. Nothing can be best explained than those who have some clear perspective by real-time experience. Given below verbatim explanation of someone who knows the NFT space.
Grammy Award Winning Recording Artist RAC.ETH SHARED: Ok, so you hate NFTs. Cool, let’s talk about it. I’m not gonna convince you, but at least i can offer the perspective of an artist who has been involved in the space since 2017 before any of you heard about it.
First off, ecological concerns. This is basically solved pending imminent implementation.
NFT Makes Content Free Ownership Scarce: A lot of people seem to miss that the entire point of NFTS is to make content FREE while making ownership scarce. Nobody is forcing you to pay for an NFT, you can still enjoy it FOR FREE alongside everybody else. You like my music? You can have it for free.
Scarce Ownership Empowers Artists: Scarce ownership empowers artists to make WAY more income without stupid ad-based models. It eliminates the exploitative models of Spotify, Apple, Amazon, etc.. Unit based/per play economics in an infinitely copiable medium makes no sense whatsoever.
NFTS in the Pseudo File Format: I think of NFTS as a pseudo file format. It’s completely open to anybody. Because of this there is a very wide spectrum of projects that have surfaced. Some great, some not so great. This is how the internet works. It’s up to the individual to filter through these.
All NFTs are not Scam: Claiming all NFTS are a scam is about as tone deaf and uninformed as it gets. It’s pure ignorance. It’s like saying all cheese is bad, or that all music sucks. Yeah, some are bad, but like anything, there are tasteful and smart and interesting ways to do anything.
Mass Marketing NFTs: I’ve personally taken a more fine- art collector first kind of approach than mass marketing my NFTS. It’s more of my speed and I can focus on a smaller subset of people. I have 3.5 million unique listeners per month on Spotify, yet I made more income from 5 collectors.
My theory: 1. People hate NFTs because they like to hate things. 2. They hate NFTs because it’s in Vogue rn 3. They hate NFTs because crypto is exhausting for normies 4. They hate NFTs because [media outlet] told them 5. They hate NFTs because people are making money and they aren’t. 6. I hate NFT’s because they get so much undeserved attention. 7. I’ve yet to see any NFT art that warrants any kind of praise. Now from a collectors standpoint I get it but the art is just bad. 8. The only real thing I have against NFTs is the lack of security. Both in terms of pricing and with wallets. As it’s new, the price valuation system of an NFTs is still a bit blurry, which leads to very uncontrollable prices that sometime reaches unreasonable situation.
Furthermore, the NFTs holding system lacks safety. Tones of people got their NFTs stolen. Metamask is a mess and has a lot of security fail. Plus, lot of people take advantage of the naivety of people to make them buy fake NFTs. Lot of sharks in this world
I just think it’s stupid to pay millions for a link to a jpeg of an ape generated out of a template and I doubt you can convince me, that that’s a sign of a healthy market
I have a question. What if I post my artwork on my portfolio or website and someone downloads the images, then mints and sells them as NFTs? How would I even know about it until it’s too late? Does that mean I need to mint every piece of art I make from now on?
Gotta keep repeating this. Carbon footprint is NOT an NFT issue, it’s a blockchain issue. Miners use energy to validate the blockchain in pow. It doesn’t matter if there are 10 NFTs or 10M NFTs, they do not in themselves cause energy use. Simply not how it works.
Can you please address the issue about how the NFT space is so prevalent with bad actors exploiting other people and art thieves across many platforms? I changed back to my kind of anti-NFT stance after I got exploited and I don’t think anyone should ignore its dark side at all
There’s a huge range of resources out there, enough so that anyone new to the space can arm themselves with the skills to spot clear scams and exploits. Eventually, I’d hope that this knowledge would become a key part of the initial on-boarding for Web3.
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