Anyone selling their photographs as NFT? (Page 2): I don’t understand why anyone would want to pay real money for a NFT. What good is it? Is it fine art that can be treasured thru the...

Gitchigumi Loc: Wake Forest, NC

I don’t understand why anyone would want to pay real money for a NFT. What good is it? Is it fine art that can be treasured thru the ages in an art gallery? No... Bragging rights?... Yes, but that’s it, in my opinion. Maybe I’m too old for this “new fangled” stuff?

ZtaKED Loc: Lakes Region, New Hampshire & NE Florida

bittermelon wrote:

Pretty certain there is a market for photographs as NFT's. Anyone here doing it? Seems to me a market opened up for photographers.

Best article I've seen - from the NY Times:

https://www.nytimes.com/2021/03/24/technology/nft-column-blockchain.html

Nickaroo

johngault007 wrote:

At $69 million for one piece of art

NFT is not a currency, or were you talking about the usage starting to plateau?

The Man that sold that piece of Art only received 2.6-2.8 Million dollars. And I feel that it was good haul for his production.

johngault007 Loc: Florida Panhandle

Gitchigumi wrote:

I don’t understand why anyone would want to pay real money for a NFT. What good is it? Is it fine art that can be treasured thru the ages in an art gallery? No... Bragging rights?... Yes, but that’s it, in my opinion. Maybe I’m too old for this “new fangled” stuff?

I'm not exactly sold on the idea of using an NFT on digital art or music. It does provide a chain of ownership for "something", but it doesn't prevent the reproduction of say a digital photograph or music. I do see them having a lot of value in a controlled environment where distribution is controlled by a decentralized service. The best example I found was the use of NFT for an online trading card games where you have a specific area of use and each NFT has a specific rarity (common through rare). Players can buy and sell these cards on an auction style system. The buyer can be assured that the trading card they are receiving is legitimate by tracing the block-chain back to the originator. Another great use that I guess is currently making some headway using NFTs in virtual worlds. Players can buy/sell property in-game and maintain proof of ownership to ensure the uniqueness of items.

I'm still not 100% convinced about all the current uses of NFTs, but it's a rabbit hole I'm finding myself diving into because it's a very interesting technology.

johngault007 Loc: Florida Panhandle

Nickaroo wrote:

The Man that sold that piece of Art only received 2.6-2.8 Million dollars. And I feel that it was good haul for his production.

https://www.theverge.com/2021/3/11/22325054/beeple-christies-nft-sale-cost-everydays-69-million

I don't think Christie's kept a staggering ~96% commission from the sale. He may get several million if the NFT is ever resold and the NFT contract specified residual commission for the original owner.

Nickaroo

johngault007 wrote:

https://www.theverge.com/2021/3/11/22325054/beeple-christies-nft-sale-cost-everydays-69-million

I don't think Christie's kept a staggering ~96% commission from the sale. He may get several million if the NFT is ever resold and the NFT contract specified residual commission for the original owner.

It will never happen. NFT's are a scam.

johngault007 Loc: Florida Panhandle

Nickaroo wrote:

It will never happen. NFT's are a scam.

I don't know about a scam. Like I mentioned before, they have a strong place in the gaming community for the reasons I mentioned, but digital art (photography, music, etc...) all you get is a long string of numbers in a digital wallet proving you have an "original". But I am sure the money involved in NFT is very real.

spratt Loc: Columbia, CA

I am looking into it. Gas prices are pretty high.

gouldopfl

I saw that also. I partially understand but the money they are selling some of this stuff for is as wacky as bitcoin. It is my understanding that things like art, vip signatures etc are produced for the NFT broker which can then be sold for currency. I see that Payton and Eli Manning have created their own NFT site. These are all one off items that are registered individually. This gives them their uniqueness. I suspect that there will be some legitimate operations but I bet that by next week you will see hundreds of scams

goldenyears Loc: Lake Osewgo

I believe it is better to be a chump by ignoring get rich schemes than it is to be a chump by investing in them. How would my life change if I bought an NFT "thing" versus how it would change if I didn't? At 78 years of age it wouldn't change either way. But it is interesting to read about.

Alyn McConnaha Loc: Lebanon, IN

What are NFT'S ???

johngault007 Loc: Florida Panhandle

goldenyears wrote:

I believe it is better to be a chump by ignoring get rich schemes than it is to be a chump by investing in them. How would my life change if I bought an NFT "thing" versus how it would change if I didn't? At 78 years of age it wouldn't change either way. But it is interesting to read about.

It definitely isn't for everyone. But I'll tell you what, for what some of this art is sold for on some of the NFT auction sites, I wouldn't mind being on the receiving end of the transaction

bittermelon

My question is not whether you want to buy something off an NFT site, but whether as a photographer, you are exploring the possibility of selling your photos on an NFT site. After all, photographers have been creating digital art all these years. So it's just a short step to selling them as NFT's.

johngault007 Loc: Florida Panhandle

bittermelon wrote:

My question is not whether you want to buy something off an NFT site, but whether as a photographer, you are exploring the possibility of selling your photos on an NFT site. After all, photographers have been creating digital art all these years. So it's just a short step to selling them as NFT's.

I wrote the following a little further up. You piqued my interest in the "how-to" aspect, which I'm still looking into, which took me off to another rabbit hole of cryptocurrency mining...LOL

MYSELF FURTHER UP wrote:

br I'm not exactly sold on the idea of using an N... (show quote)

jrm21

rmalarz wrote:

Probably something akin to vaporware.

NFTs exist and are in use. By definition they are not vaporware.