NFT Minting: The new multi-million dollar market for art & Digital World Creations

CCarter

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@EyesExist everyone in a pyramid scheme makes money the higher you go up the tiers. Until the pyramid scheme collapses on itself.

Like I said, multiple times, it's a game of musical chairs, greater fool theory, you are just hoping you aren't holding the bag when the music stops spinning.

That's the bottomline.

Specifically with NFT you guys are hoping to not get stuck with the bag when the music stops spinning.

I'm relaying to the audience that you guys are buying un-exclusive jpegs. Why you guys are so angry is odd if it really has value. No matter how much CCarter flaps his mouth, you shouldn't be concerned IF this weren't a scam. But it is, therefore you guys' are angry I'm pointing out the obvious.

The obvious being un-exclusive jpegs = NFTs.
 
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Maybe I'm telling you guys how to suck eggs, but there's a difference between believing in something and making money off of it.

Also as is the case with a lot of this stuff ($250K box jpg, farming useless ponzi tokens, Elon meme tokens etc), you can still make money from something that you know is a scam. Being a scam, the window to do so is obviously limited, before the rug is pulled.
 

GNews

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Every business has winners and losers

Hence the age old phrase

"Scared money doesn't make money"

Nice how the questions were avoided.

But hey, you guys enjoy. Somebody sent me a large ETH payment this past week before the jump. LOL I'm gong to do some amazonning today, to finds some gadgets to try out.

And I'm waiting to get my hands on some NFT animals or 'NFT pet' projects to raise animals

wolf-photo.jpg
 

eliquid

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Mostly the back and forth in this thread comes down to, how you define things and live your life.

To me a business provides value by solving problems.

We can get into a damn slippery slope defining what value is and what solving problems is:

- "An NFT provides value because someone was willing to pay the money for it"
- "Bitcoin solves the problem of centralized money" blah blah

I don't ( and many others ) consider those real value, or a real problem.

Did we really need decentralized money? Did we really need other things Bitcoin/blockchain brought with it? Was everything heading to doom before/prior to it that we needed a solution to keep living into the future?

It's kinda like the X version of the garlic press on Amazon. Did we really need another damn garlic press? Can't you smash your dawn garlic with a knife like normal people? Is it really value to copy a garlic press and add a textured handle to it? Really? REALLY? Was this really a problem and is this really value?

Some other people do think this is value though and solves a problem.

Based on what I said above, I don't see NFT or crypto a real business. This is where other people will also come to in thinking if they are against it ultimately. It's not solving a real problem with a real value, yet.

On the other hand, this discussion has morphed a little bit into, are you OK if you are scamming people.

@Darth made the point to say, "you can still make money from something that you know is a scam".

I'm sure many people here and other places are "just in it for the money". But there is a difference when it comes to "being in it for the money" when you feel or might think it's a scam, and if it's business ( as in my terms of it ).

I was a leading figure in the Acai + Colon stuff back in 2008 as the first person to run it, since I invented the whole process and LP. Many of you older builders know the rest. At the time, I had no clue the merchants were NOT cancelling peoples products when customers asked.

I did know that a pill doesn't help people lose weight though. Right? We all know this.

Did Acai really solve a problem or provide value to the customer? We all know it didn't. Don't point out some outlier case of the 3 people that did lose weight from it compared to the thousands or millions that didn't.

At some point, I wasn't willing to scam people into thinking a pill or powder helped them lose weight anymore when I thought about it. I wasn't willing to peddle something just because this week's EPCs were better on Acai 500 versus WuYi Green Tea.

Yeah, you can make money on anything. I can make money selling a brick inside a PS4 box and run off with it before the customer opens it.

The bottom line is, sometimes people are against what you are for, for different layers of reasons.
 

GNews

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Decentralized Money gives the world a new playing field against 1st World oppression, arrogance, and abusive tactics to steal a country's resources

It also takes some power out of banks from predatory tactics

It also makes the opportunities given from finances of 'back door politics' , a little more public

That's what Decentralized Currency aims to solve.

I knew since a kid.......... the only way to end privilege and oppression is corrupting the dollar. Anybody with half a wit knows it. that's what this currency does.

the Haves vs the Have Nots

Those with resources can't use the money so quickly to / easily to create a platform that forcibly drains others with less

you still can't sit on your ass though.

NFTs.............. to me , this is about entertainment and gaming. We're entering a serious time where people are glued to virtual realms (mobile devices, gaming, etc) ......... NFTs is just accessorizing it and while I even admit, i didnt' get it at all..... I've becomea ware of some new NFT brands and what they are doing to revolutionize certain forms of sports and entertainment and I can tell you... It will be VERY valuable as a 'hobby' division of the new crypto era

Everything doesn't solve a 'need'

Art , doesn't solve a need

Proessional Sports didn't solve a need

Sometimes, it's just giving people something they can appreciate and enjoy
 
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NFT and Crypto - the point is being decentralized so you know they will continue to exist. Anything digital tied to a company can easily, not exist in the future.

With NFTs for example the main immediate use case that always made sense to me was the authentication of luxury goods. Pair an NFT with an expensive luxury good/painting whatever to show it's the "original". If the system was run by a single entity though it might not exist in the future. If you buy a luxury handbag and the company goes out of business, the luxury handbag doesn't disappear, it might even be worth more. But if that company ran something like an NFT but not decentralized - it would die with the company.

There is an entire industry surrounding authenticating/counterfeiting luxury goods of companies/people that are long gone.

Separate it from the company and make it decentralized with some incentive for people to keep running it, getting a cut of the transaction whenever it's moved, it will, in theory, have a better chance of surviving.

I'm not going to claim bitcoin is going to become a new world currency or that currency even is a good use case for crypto. But there are many awesome applications for decentralized systems that can be maintained and controlled by a bunch of different unrelated parties.

Entering into even a simple business relationship with a contract is a pain in the ass if you end up needing a lawyer to sort things out. A future where contracts can be "smart contracts" where the contract can enforce itself sounds pretty awesome.
 

CCarter

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As it turns out, the whole NFT system is a lot more delicate than it seemed. Adieu idea of a promise digital safe haven.

The thing is, an NFT isn't the actual piece of artwork itself, an NFT stores information on where you can find the artwork and what the artwork is. Basically, it's a link that directs you somewhere else, a link where the digital art is actually stored.

So while the Ethereum blockchain, which the NFT system usually uses, keeps an unalterable record of the NFTs history and ownership, it's not the digital piece of work itself. If you still can't wrap your head around it, think about it this way:

Imagine you buy an authentic Egyptian hieroglyphic and it came with official documentation that certified where it came from, its history, and proof of ownership. Well, the NFT is the digital equivalent of the documentation.

A lot of NFT artworks are stored within normal URL links, and that's where the fragility of this whole system. Traditional URLs do not depend on the seller or the buyer, they depend on the companies that host the webs, as well as the owner of the domains. If the web host went under, or for whatever reason the owner of the domain stopped paying the bill, or even decided to simply screw people over and redirect your URL somewhere else, the whole thing would disappear. Leaving you empty-handed.


Source: Why are NFTs going missing? Can it be stopped?

Additional: People's Expensive NFTs Keep Vanishing. This Is Why

--

The thing about the internet is people SAY it's forever, but it really isn't. For example if some nudes of a person went viral 15 years ago, it might be stored on somebody's computer in the boondocks or some backup server, but servers get wiped, computer systems go down, hosting gets deleted, domains don't get renewed. Perhaps the image re-surfaces 50 years from now, it's possible, but unless the person who's nudes it was become famous or infamous, the likelihood of seeing those images again is close to 0%.

I don't believe anything is forever on the internet, that's a myth. All you have to do is look at where a ton of us originated from: Wickedfire.com. The "content" maybe there - behind a paywall, but it just takes Jon or Brandon missing a hosting or domain renewal bill and that's that. Yeah sure several have got some of the better content pieces saved on some computer or hard-drive somewhere, on some backup, or it's been re-produced, but the essence of it will be gone, the connections we made there will be gone, can't login and PM GrindStone anymore.

Any resurrection attempt will look like BlueHatSEO (https://original.bluehatseo.com) It's "there" but a lot of 404 error pages exist. A lot of content lost forever.

So are NFTs "forever"? We'll see.

If NFTs are simply categorized as part of the luxury market, there can be a play for them. BUT it looks like a slippery slope cause it's so connected to cryptocurrency. And that means the "get rich quick" gang is and HAS been peddling this stuff, devolving the potential.

Some of the arguments for cryptocurrency are talking like somehow hashed wallets are going to save the planet. How? And if I have to read the white-paper to find out then clearly it won't since the solution is not simple.
 
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I have clients in the financial sector and also one that trades art, old paintings, old documents, coins, sculptures... (x to xx or xxx millions per piece) This is mostly used to diversify your assets. (Asset protection for HNWI & UHNWI)

btw:
Trading with this kind of art and also diamonds is a legit way to transfer money or/and break the money trail if you wish. For this case, you must have a buyer on the other side.

That nobody considers that this stuff can be used for the same purpose?
 

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Tons of noise and get-rich-quick pump dumpers everywhere. But, there are needles/tech in the haystacks. NFT's will be just about anything physical and become digital. Right now I have an NFT I created that has USDC (stablecoin) inside it earning 7.88%. That's about as conservative low risk as you can get, but it's earning more than any fiat bank. This same NFT can hold documents, mp3, images, and ERC20 coins, or coins that are on the AAVE borrowing platform that earns interest. The next big NFT movement will be in gaming, event ticketing, gift/reward boxes etc... Super exciting times. The use cases of NFT's are just getting started and it's super early days.
 

GNews

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Your past advice on this forum on NFTs and Cryptos = more than enough for me to ignore your advice on finance and business.
 

CCarter

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Your past advice on this forum on NFTs and Cryptos = more than enough for me to ignore your advice on finance and business.

So?

If you believe cryptocurrency is a business or is going to save your lives you're already lost. Average buttcoin holder owns less than $300 of buttcoin. If that triples or 5x, that's not going to change their lives.

I'm always going to be here to state, "This might be a retarded idea guys. Actually I know it's a retarded idea."

It's not for you, I'm talking to the audience member that is contemplating wasting their time and energy on this and end up getting fucked cause it's a game of musical chairs.

For every one success story there are millions that have gotten fucked from this but keep their mouth shut cause they don't want to be embarrassed. That's the reality in everything. They take their losses in silence.

I'm preventing someone from thinking "well everyone is in on this so it must be good." Nope, not everyone is in on this crap.

Guys, multiple people have ran get rich schemes with these coins, over and over. Thousands of scams have already come and gone within crypto. It has all the attributes of a ponzi scheme. Brings zero value to the masses. It's literally the greater fool theory in play.

And I am going to keep reminding you all of that.
 
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I haven't seen it pointed out in much media yet.

But it should be pretty obvious most of this trade volume on NFTs so far is passing back and forth between coordinated parties to find a sucker outside of the circle.

Just like in 2017 when the game was creating a cryptocurrency, paying off a major exchange to get it listed, then pumping volume back and forth until you can dump enough of it.

Now you don't even have to pay off an exchange. Mint NFTs, trade the volume back and forth, and wait for the suckers to grab a few.
 

CCarter

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But it should be pretty obvious most of this trade volume on NFTs so far is passing back and forth between coordinated parties to find a sucker outside of the circle.

That's what bothers me, it's clear as day that these people are pumping up the prices for this stuff by going back and forth, it's a game of musical chairs. Some sucker buys some jpeg for $250K and then magically, even though there were tons of people trading it back and forth earlier, he can't find anyone willing to shell out even $250K to break even.

"If you can't locate the sucker in the room, it's because you are it."​

Most of us have been around the block to see these type of scams all over the place, online and offline. It's the exactly same structure every single time, until you are the one that ends up holding the bag of shit.

Any yet people are angry at me for call out the obvious. Why? Unless they are trying to get BuSo members to end up holding the bag. I'm not here for some altruistic scenario, it's in the interest of self-preservation to not allow BuSo to be overran with these cryptocurrency, NFT, and buttcoin scams, cause that crowd will see fertile land and come here, and then we are filtering through CBD oil and other people pushing other nonsense non-stop.

There is a reason it is regulated to the Water Cooler section. Crypto isn't internet marketing or online business, or any business.
 

GNews

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@CCarter

I've already made enough gains in REAL LIFE to just stop arguing with you..... b/c your points, I've ran laps around personally

If you're not going to contribute to a path that makes money, I'm not interested

People are making millions and you're not telling anyone useful information about HOW ................

All you say is 'nothing works' but CLEARLY, things are working ...........

There's negatives to any business............ People scam in SEO probably every hour of the day if not every minute but you still work in it, selling links right? Do you tell your clients how to use them properly and make a gain or do you just tell them all the negative things of the world in a woe me-like pity party?

Help people construct a future in all of this opportunity. Dont discourage them with sharing all the negative view points you can find

I was involved in a 5-figure crypto play last month..

If i were the kind to listen to your advice, i'd never have done it.

But I'm a risk taker. I lept out and it paid off and still paying.

I want to see people who visit this forum WIN WIN WIN.

Give them information they can use to climb.
 

GNews

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I think NFTs make the most long term sense in a game economy (or something similar) where its not so much speculation as a digital asset that is part of a micro-economy like a game.

Similar to what Becker says here
 

GNews

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I think NFTs make the most long term sense in a game economy (or something similar) where its not so much speculation as a digital asset that is part of a micro-economy like a game.

Similar to what Becker says here
Def a lot of investing going on by Multi-Billion dollar corps into the NFT world / Metaverse currently

I'm actually developing a brand/project for the NFT world. Waiting for my Cold Wallet to arrive, then I'll begin the full scale on the project.

Hoping it will be my biggest idea to date.
 
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I was wondering if this was legal regarding NFT: You know a lot of influencers sold NFTs and stuff and there are many NFTs out there.

Say if someone creates an NFT and they build hype around it and make a ton of money from it. And say it fails and that person stops trying to promote the NFT and sends the ETH to their wallet and cashes out. (For example: Jake Paul and few other influencers)

Is this legal? Can you end up in jail for doing this? @EyesExist

I am wondering this because the whole recent thing about Iceposeidon so he had a coin and then people invested in it, it went inactive so he sold like 90% of the $, everyone is calling him out and saying he scammed and stuff.
 
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A short rant i read in my mother language today, i translated it with deepl. Enjoy!
---------------
I'm honestly a little irritated that you actually hear more and more people talking about "Web3".

Why don't you laugh in these people's faces and push them back under the troll bridge?

It's really not as if there's any doubt that the idea doesn't combine advantages with massive disadvantages. Facebook is now called Meta, Blackwater is now called Xe Academi. FLoC is now called Topics. And Crypto-Scam is now called Web3.

Web3 has the following goals:

Establishing inhumane business models like "we build games that are intentionally not fun, so that instead of playing, people would rather buy items from third world starving people who grind them in sweatshops". And then sell that as "but that creates jobs in the 3rd world!1!!!". Nope, sure.
Brazen lies that this is decentralized and "code is law" and so on, and therefore no one can exert any influence.
Brazen lying about terminology like "coin" or "finance" to cover the stench of scams.

The foundation is unstable and unsuitable, the methods are destroying the planet and are unsuitable except for scams, the goals are lies, and the players are scammers. Nobody wants to create value with NFTs. The buyers are NFT sellers themselves, making gambling transactions with gambling money to give the "market" an aura of legitimacy. And the press is dumb enough not to get that, and diligently reports on it. NFTs are worthless.

I don't know if you all realize how worthless NFTs are. Except for the fact that the main platform doesn't even pretend it's anything but a scammer hangout anymore. Not to mention that most NFTs offered there are sold by people who don't even have the rights. Let's say you buy an NFT. What do you own then? An entry in a blockchain that exactly nobody looks into except the selling platform company. In the entry there is a URL to the web server of the platform.

I hope that even the last idiot realizes that nothing is decentralized. If the company goes bankrupt or changes its web server, your NFT points to something else.

On the web server is then a JPEG image that someone uploaded there. Like flickr. Only that flickr cares about the copyright, the NFT-bros don't.

In short: you own nothing, not even proof of ownership. Even if you accept the premise that the blockchain is decentralized and unmanipulable, the blockchain still only points to a central web server that is not under your control.

You could also just click a low-cost host directly at Hetzner, upload your JPEG there, and then you would at least have a contractual basis for assuming that the image you didn't buy because it never belonged to the seller can still be found under the URL in the future.

OK, so we've cleared up the T, the token. That's a link to the platform's web server.

The N and the F stands for non fungible. Money is fungible. If you give me 10 euros, it doesn't matter which 10-euro bill you give me. They are all exchangeable (fungible). Technically, that's true for NFTs too, they're all completely worthless. But you hopefully won't take that mental step, the scammers hope. So they lie to your face that the worthless tokens are non fungible, i.e. have an inherent value by creating artificial scarcity. You know what else is scarce? Properties on the moon! Buy now before they are all gone!1!!!

The scam model is as old as mankind. It's like Panini trading cards, except with Panini trading cards, at least you end up owning the picture.

The laugh is that yes, the NFTs are not even issued to rip off buyers. They already know that this only attracts morons, which is why they buy their worthless NFTs from each other in their game blockchains with play money. They don't need buyers. They just need the appearance that there is a market. Because then you can play casino, make bets, build derivatives and trade in the market.

Remind you of mortgage derivatives? It should! Except that with mortgage derivatives, at least there were bursting mortgages behind them. With NFTs, there's nothing behind them at all.

It's just a few layers of fog, and they're hoping no one will invest the five minutes it takes to recognize it all as a scam.

So please stop talking about Web3. This is a scam, run by scammers, built on scam bullshit technology. It's like homeopathy, except that when you buy a homeopathic "remedy", at least you end up owning the water. With NFTs, all you own is a link to a web server with a picture of a glass of water. And not even the link is really yours.
When the Web3 folks talk about technology, you should take it about as seriously as when Scientology talks about technology.
-------------------
source: https://blog.fefe.de/
 
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I've pretty much gone all in on NFTs in the last year. I turned $1K into $1.4M in like 27 days by marketing my own project, and then have flipped multiple other peoples projects for profit since then.

I never really understood the hate crypto and NFT's get on marketing forums.

We are here to make money right?

I personally don't see it leaving anytime soon BUT you do know you can make a shit ton of money from it without believing in the tech?

Do you actually believe you're doing the right thing by pretending to be an expert in a random niche and having some Indian reword someone else's blog post? I doubt it.

I'll gladly take on a little risk to make multi millions, traditional internet marketing will be here if I decide to quit.
 

GNews

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I was wondering if this was legal regarding NFT: You know a lot of influencers sold NFTs and stuff and there are many NFTs out there.

Say if someone creates an NFT and they build hype around it and make a ton of money from it. And say it fails and that person stops trying to promote the NFT and sends the ETH to their wallet and cashes out. (For example: Jake Paul and few other influencers)

Is this legal? Can you end up in jail for doing this? @EyesExist

I am wondering this because the whole recent thing about Iceposeidon so he had a coin and then people invested in it, it went inactive so he sold like 90% of the $, everyone is calling him out and saying he scammed and stuff.


I saw the icedposeidon topic. It's not NFTs though it was a cryptocoin

I think it's legal ....... if done without the specific intent to rob

You can still get sued though and investigated after a group jumps into the case; Hence why most people do it faceless/nameless

BILLIONS WERE MADE last year.. let this sink in.. BILLIONS OF DOLLARS from rug pulls. It was a huge business and still is.

This is why regulation will not be such a bad thing.

NFTs are art.... to me that's all based on perception by client. Therefore, I can' see how people can get sued if marketed and sold normally.

If you're making false advertisements... then maybe.. But art aka NFTs that are strictly based on perception = client choice

But i dont know a ton about those laws
 
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I saw the icedposeidon topic. It's not NFTs though it was a cryptocoin

I think it's legal ....... if done without the specific intent to rob

You can still get sued though and investigated after a group jumps into the case; Hence why most people do it faceless/nameless

BILLIONS WERE MADE last year.. let this sink in.. BILLIONS OF DOLLARS from rug pulls. It was a huge business and still is.

This is why regulation will not be such a bad thing.

NFTs are art.... to me that's all based on perception by client. Therefore, I can' see how people can get sued if marketed and sold normally.

If you're making false advertisements... then maybe.. But art aka NFTs that are strictly based on perception = client choice

But i dont know a ton about those laws
Yea I don't get why people aren't doing NFTs. You have to build hype around a project so people buy. Even if you think crypto is a scam, you can just sell the crypto you get from selling the NFT project.

The real money I think isn't in "trading NFTs", it's in selling/creating NFTs (Sell Shovels not Go after gold)

If you can sell high ticket things because you create a "higher perceived value", why can't you sell NFTs.

Btw regulation will be bad, I do not want to be in it if there's regulation.

Absolute morons are making millions and millions of dollars in NFTs. I don't see any risks in doing this. I can see the risk of trading nfts but, making your NFT? There are people promising ridiculous claims like they will create TV show, token and stuff.

Honestly @CCarter I don't see why someone with your level of skill in marketing wouldn't do it and wouldn't be able to pull it off? You just wouldn't put your name on it basically do it faceless. Especially you can tell many NFT buyers aren't very smart so...

Nelk Boys made like 24mil in 1 day, Gary Vee made like 91 Mil in NFTs in 90 days and probably more now.
 

secretagentdad

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o god.
Gary V...........
When are people who contribute to society going to get fed up .....