@kravietz it took me a while to realise that with "cryptoart", nfts were meant and not some kind of aesthetic, like those stock photos you have on articles about cyber™ topics
@kravietz I would like to share my thoughts:
There are a wide variety of NFT platforms with different payment mechanisms. The first NFT I made (that was recognized as what an NFT is today) was on a popular platform Rarible, and there was zero minting fee to Rarible, it only cost the Ethereum gas fee which facilitates operation of the network.
I am currently working on a project that will list art tokens on OpenSea. OpenSea will take 2.9 percent of the sale, we as the developers will take zero percent because we're trying to help the community surrounding the art. There will be an additional fee, we are thinking .5%-2.5% that will be split evenly between the artists. I think this is actually more fair to the artists, than in the "real" art world where they get zero percent on secondary market sales.
I do not believe the pyramid scheme checklist is applicable. There is a genuine product, you are not being promised returns, it actually can generate limited passive income (I mean, such things do exist) the "buy-in" is the network costs of Ethereum, this is equivalent to saying that fine art has a buy-in because you have to buy paint and brushes. recruiting: there's no organization and there's no scheme. maybe you would be insulted for not participating in an art fair if you started telling people that the art fair was a pyramid scheme run by scammers (fine art is actually a money-laundering and tax-evasion scheme, not a pyramid scheme)
"buy artwork directly from them" I actually agree with this one. But I would like to tell you that I have made connections to multiple artists through the cryptocurrency world which has resulted in directly buying works of art that I now enjoy in my home, not on a computer. The platform made that happen.
The biggest problem with NFTs for artists right now is that the Ethereum network is congested with traffic which has raised network fees an absurd amount. I have been working with an artist who is minting NFTs on the EOS network instead for very low fees. I personally am working on a project on a different blockchain that can mint a hundred NFTs for under a penny. The whole thing isn't Ethereum.
I am sorry if I come across too critical. I agree that proof of work blockchains like ethereum are harmful to the environment and I agree that the NFT market is currently full of speculators and get-rich-quick types and that it's currently in a bubble.
There are a wide variety of NFT platforms with different payment mechanisms. The first NFT I made (that was recognized as what an NFT is today) was on a popular platform Rarible, and there was zero minting fee to Rarible, it only cost the Ethereum gas fee which facilitates operation of the network.
I am currently working on a project that will list art tokens on OpenSea. OpenSea will take 2.9 percent of the sale, we as the developers will take zero percent because we're trying to help the community surrounding the art. There will be an additional fee, we are thinking .5%-2.5% that will be split evenly between the artists. I think this is actually more fair to the artists, than in the "real" art world where they get zero percent on secondary market sales.
I do not believe the pyramid scheme checklist is applicable. There is a genuine product, you are not being promised returns, it actually can generate limited passive income (I mean, such things do exist) the "buy-in" is the network costs of Ethereum, this is equivalent to saying that fine art has a buy-in because you have to buy paint and brushes. recruiting: there's no organization and there's no scheme. maybe you would be insulted for not participating in an art fair if you started telling people that the art fair was a pyramid scheme run by scammers (fine art is actually a money-laundering and tax-evasion scheme, not a pyramid scheme)
"buy artwork directly from them" I actually agree with this one. But I would like to tell you that I have made connections to multiple artists through the cryptocurrency world which has resulted in directly buying works of art that I now enjoy in my home, not on a computer. The platform made that happen.
The biggest problem with NFTs for artists right now is that the Ethereum network is congested with traffic which has raised network fees an absurd amount. I have been working with an artist who is minting NFTs on the EOS network instead for very low fees. I personally am working on a project on a different blockchain that can mint a hundred NFTs for under a penny. The whole thing isn't Ethereum.
I am sorry if I come across too critical. I agree that proof of work blockchains like ethereum are harmful to the environment and I agree that the NFT market is currently full of speculators and get-rich-quick types and that it's currently in a bubble.
@chuculate @kravietz Yes, but generally when saying NFT it's meant some kind of art or collectible product. Incidentally, some NFTs aren't even really non-fungible.
#NFT