Harry Harrison Posted September 1, 2021 Share Posted September 1, 2021 Came across a photographer on Twitter announcing (with great excitement) their new collection and how delighted they were that several had already sold. The link took me to an alien and quite disturbing world that I knew nothing about, digital 'NFT' photos selling in a currency (ETH) that I had never heard of either. The platform is called OpenSea and there's very little on it that makes any sense to me. Just as a sampler this link takes you to a search for photographs costing between 0.2 & 5 ETH. ETH refers to Ethereum, a Bitcoin currency, currently standing at $3691.41, but presumably fluctuates wildly. Brave New World, rather unsettling in fact, to me anyway. 1 Link to comment Share on other sites More sharing options...
John Mitchell Posted September 1, 2021 Share Posted September 1, 2021 HUH!? Link to comment Share on other sites More sharing options...
Harry Harrison Posted September 1, 2021 Author Share Posted September 1, 2021 21 minutes ago, John Mitchell said: HUH!? See what I mean! Link to comment Share on other sites More sharing options...
John Mitchell Posted September 1, 2021 Share Posted September 1, 2021 37 minutes ago, Harry Harrison said: See what I mean! Yes indeed, glad I'm too old to care (or comprehend). 👴 1 1 Link to comment Share on other sites More sharing options...
Robert M Estall Posted September 1, 2021 Share Posted September 1, 2021 Yeh, the concept of NFT where you, THE PUNTER owns the actual original rights but lots of others can kind-of have access to the same image is OK escapes me, but I struggle with just facebook and google as web access. Would you really part with good money in this area?Assuming we are talking real money, not some blockchain concept 1 Link to comment Share on other sites More sharing options...
Joseph Clemson Posted September 1, 2021 Share Posted September 1, 2021 Not sure where I saw it but there was a news story reported today that someone had bought in an OpenSea auction a supposed NFT of a Banksy work which seemed to originate on the artist's own website. The virtual currency used was real enough though, the money disappeared and the artwork/NFT was found to be imaginary. Not only are NFT's and virtual currencies strange concepts to begin with, it seems you now have to negotiate a world where two things which only exist as binary data to begin with may well be unreal as well. I think I will stay well clear. 2 1 Link to comment Share on other sites More sharing options...
Steve F Posted September 1, 2021 Share Posted September 1, 2021 I think cryptocurrency is like the 17th century tulip mania, it's just a massive bubble waiting to burst. When people that know nothing about investing are jumping on the bandwagon and buying up crypto because of FOMO (fear of missing out), then it's all just going to go wrong. Same for NFT's, can't see people spending silly money on them in 10-20 years time. I could be wrong and stranger things have happened... But just look at all the bubbles in history. And as soon as something starts going wrong and the prices start dropping, all the casual investors get scared and start selling up, and that drives the prices down further and then the whole thing just starts snowballing. Or maybe I just have schadenfreude because I don't own any crypto and NFTs.... 🤔 1 2 Link to comment Share on other sites More sharing options...
Steve F Posted September 1, 2021 Share Posted September 1, 2021 20 minutes ago, Joseph Clemson said: Not sure where I saw it but there was a news story reported today that someone had bought in an OpenSea auction a supposed NFT of a Banksy work which seemed to originate on the artist's own website. The virtual currency used was real enough though, the money disappeared and the artwork/NFT was found to be imaginary. Not only are NFT's and virtual currencies strange concepts to begin with, it seems you now have to negotiate a world where two things which only exist as binary data to begin with may well be unreal as well. I think I will stay well clear. Well, all money is virtual (or digital) these days, same thing. Except currency is backed up by a government and if your bank account gets hacked and it's not your fault for giving away your password, your bank is obliged to reimburse you (in theory). Not so with cryptocurrency, if you're digital wallet gets hacked or you forget your password, tough. I can't see any benefit for using crypto currency except it's not managed by a central bank and transactions can't be traced - just good for money laundering then. And FOMO people... Link to comment Share on other sites More sharing options...
Vincent Lowe Posted September 1, 2021 Share Posted September 1, 2021 31 minutes ago, Steve F said: Not so with cryptocurrency, if you're digital wallet gets hacked or you forget your password, tough. Or if you accidentally chuck them in the bin..... https://www.bbc.co.uk/news/uk-wales-55658942 Link to comment Share on other sites More sharing options...
Panthera tigris Posted September 2, 2021 Share Posted September 2, 2021 (edited) I had a long look at NFT art sales a few months ago. What scared me off was it was a certain genre of art and mixed media that was selling and the buyers (collectors as they are called) were few and far between but were making multiple purchases - seemed like market makers to me. I am still not sure it will ever be an outlet for non-art photography. You also have to "pay to play". I still am following the whole thing. Theres a very interesting Damien Hirst project called "The Currency" you should look at (its on YouTube as well) whereby I think he is mocking the NFT and art worlds but will make millions out of the project. Edited September 2, 2021 by Panthera tigris 1 Link to comment Share on other sites More sharing options...
Russell Watkins Posted September 2, 2021 Share Posted September 2, 2021 12 hours ago, Harry Harrison said: Came across a photographer on Twitter announcing (with great excitement) their new collection and how delighted they were that several had already sold. The link took me to an alien and quite disturbing world that I knew nothing about, digital 'NFT' photos selling in a currency (ETH) that I had never heard of either. The platform is called OpenSea and there's very little on it that makes any sense to me. Just as a sampler this link takes you to a search for photographs costing between 0.2 & 5 ETH. ETH refers to Ethereum, a Bitcoin currency, currently standing at $3691.41, but presumably fluctuates wildly. Brave New World, rather unsettling in fact, to me anyway. In a similar vein, male anti-vaxxers reckon that their semen will be a type of Bitcoin currency in the not-too-distant future. Any actual science refuting the basis of this will be part of the big conspiracy, of course. What a time to be alive. Link to comment Share on other sites More sharing options...
Celluloid Hero Posted September 2, 2021 Share Posted September 2, 2021 Am I to understand that we are now required to identify as a BitCoin in a non-binary way whilst wearing gender neutral suspenders? I'll stick to cash under the mattress thank you (it's not really under my mattress, I just said that to cover my tracks). Link to comment Share on other sites More sharing options...
Inchiquin Posted September 2, 2021 Share Posted September 2, 2021 42 minutes ago, Celluloid Hero said: Am I to understand that we are now required to identify as a BitCoin in a non-binary way whilst wearing gender neutral suspenders? Yes, these are required for suspension of disbelief. Alan Link to comment Share on other sites More sharing options...
M.Chapman Posted September 2, 2021 Share Posted September 2, 2021 (edited) What seems crazy, in this era of attempting to drive down carbon emissions, is the amount of energy being consumed by "mining" bitcoins. This alone would seem to make the long term future of the existing crypto-currencies debatable or even unsustainable. Mark Edited September 2, 2021 by M.Chapman 5 Link to comment Share on other sites More sharing options...
Harry Harrison Posted September 2, 2021 Author Share Posted September 2, 2021 I was shocked to see a photo (?) selling for 50 Ethereums, but then I realised it was only 50 Whales. Silly of me. Link to comment Share on other sites More sharing options...
John Mitchell Posted September 2, 2021 Share Posted September 2, 2021 7 hours ago, Harry Harrison said: I was shocked to see a photo (?) selling for 50 Ethereums, but then I realised it was only 50 Whales. Silly of me. I do hope you're using a "low friction" wallet. 🤪 Link to comment Share on other sites More sharing options...
Harry Harrison Posted September 3, 2021 Author Share Posted September 3, 2021 10 hours ago, John Mitchell said: I do hope you're using a "low friction" wallet. Or there's SupeRare, I think you need a very slippery wallet for that one though. Link to comment Share on other sites More sharing options...
John Mitchell Posted September 3, 2021 Share Posted September 3, 2021 11 hours ago, Harry Harrison said: Or there's SupeRare, I think you need a very slippery wallet for that one though. Art ain't what it used to be, that's for sure. 😮 1 Link to comment Share on other sites More sharing options...
Nodvandigtid Posted September 12, 2021 Share Posted September 12, 2021 NFTs: What they are and how they will impact photography: Digital Photography Review (dpreview.com) 2 Link to comment Share on other sites More sharing options...
Panthera tigris Posted September 22, 2021 Share Posted September 22, 2021 https://petapixel.com/2021/09/21/photographer-sells-her-widely-stolen-photo-as-nft-for-300k-makes-it-free/ Another interesting story but it does makes one wonder if these sales are genuine or just market making. Link to comment Share on other sites More sharing options...
Harry Harrison Posted September 22, 2021 Author Share Posted September 22, 2021 6 hours ago, Panthera tigris said: but it does makes one wonder if these sales are genuine or just market making. Hmm, yes, only one bid so it goes for the reserve price, 100 Ether (?) to a 'visionary and disrupter'. That's equivalent to $300,000 in real money, but is it real money? Link to comment Share on other sites More sharing options...
John Mitchell Posted September 23, 2021 Share Posted September 23, 2021 (edited) redundant post -- deleted by me Edited September 23, 2021 by John Mitchell Link to comment Share on other sites More sharing options...
Harry Harrison Posted September 23, 2021 Author Share Posted September 23, 2021 Oh my word, 'Crypto with Paypal' is here. Beam me up Scotty Link to comment Share on other sites More sharing options...
M.Chapman Posted September 23, 2021 Share Posted September 23, 2021 20 minutes ago, Harry Harrison said: Oh my word, 'Crypto with Paypal' is here. Crikey!! Not sure why Paypal have branched out in that direction, they'll be offering Lotto tickets next. I wonder what fees they take on every transaction? Mark Link to comment Share on other sites More sharing options...
geogphotos Posted September 23, 2021 Share Posted September 23, 2021 How long before there is the first microstock Crypto site offering exciting opportunities to their community? 2 Link to comment Share on other sites More sharing options...
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