BEEPLE EXPLAINS: What is an NFT ?
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- เผยแพร่เมื่อ 20 มี.ค. 2021
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The Crew sits down with Digital Artist Mike Winkelmann AKA "Beeple" for a Q&A about NFTs and the future of Crypto Art.
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It makes me extremely happy that the people in the comments aren’t immediately buying into this stuff. Thank god we’ve learned to be more critical and considerate of things
oh please /// just STFU
there is more issue than NTFs.. NTFs ain\t even huge o a deal.
@@Userdoesnotexit people can care about more issues than one
@@Userdoesnotexit Honestly dude NFT's would be good if the source of energy of the miners was better
@@caleb_artzs2533 yeah like the whole thing wren was saying doesn’t really make that much sense, he was just trying to justify nfts but it’s not practical at all. Bitcoin is way worse for the environment but at least there is value of it for countries that have had there currency inflate through the roof. Nfts are just art so there isn’t that much practicality behind it for wasting and consuming that much power
Hell yeah. Just wanna make note that this doesn't mean harassing artists who've made money from it. Just don't harass people, there are better ways to approach it.
Beeple already has the following and reputation to protect him. It's small artists who are up in arms since their art is straight up stolen to the point they can't even share their art publicly anymore.
Why don’t they just upload on these platforms?
@@brian2440 cause it’s shit for the environment AND most small artists can’t afford to buy into it
@@oops6876 yeah, 10$-100$? Those who can effort it, definitely don't mind paying that but those who can't, won't even spare it a thought.
As stated in the video, a NFT that wasn't signed by the original artist is useless. The whole point of NFT is bragging rights that you bought a piece from a particular artist. I wouldn't want an NFT sold by some rando who had no connection to the artist at all. You've only provided an example of buyers getting scammed. The artist is still OK. They can create NFTs whenever they get the money to do so and start selling them legit.
Donation based porn will simply have to stay the true future.
According to Dan Olson, Folding Ideas, video on NFT, Beeple has vested interests with the sale. The person who won the auction, a startup owner, also own a crypto coin scheme, which Beeple also own 2% of the whole economy. Which value jumped from 36c to 23$. So when he was in this video, he wasn't espousing NFTs for artist (which was all BS), he was a marketer shilling for his own vested interests.
isnt that basically like insider trading with extra steps?
@@mr.breadobamagames5221 I guess that's a nice equivalent. Personally, it reminded me of TMartn promoting gambling website that turns out he owned it.
I swear, this video is the reason TH-cam hid the dislike ratio. What complete fucking nonsense is spouted in this video. I hope Corridor come out and make a follow-up video walking back their statements here.
Nft are a ponzi scheme and I'm very disappointed corridor digital promoted it
@@mr.breadobamagames5221 insider trading is illegal - this was new so it wasn't illegal.
"Anyone can mint anything"
And thats a huge part of the problem. Art theft for tokenization is already a huge problem for artists, and its fucking disgusting.
How is it a problem?
@@peacemaster8117 how is theft a problem? Hmmm, I wonder. 🤔
@@phaethonprime6427 Yeah, seriously. How is it a problem?
It's meaningless and worthless anyway.
@@peacemaster8117 imagine having a brain this smooth and wrinkle free
Clint saw how much money beeple made and quit on the spot😂😂😂😂
I really think every artist with digital art......if not all 3D artist are gettin HYPED UP AND ALL WET bc now they can MAYBE get some $$$$. But the consumer gets SHIT except a fuckin certificate token. And EVERYBODY are in crypto scam as a result.
@@123stojakovic There are some artists that sends physical stuff, beeple is one of them, I love the digital portrait you get with his special nft packages
Best Comment xD
@@cruzefx3652 i'm digging beeple's tangible items here, they can't be just copied and pasted and I can see why they tickle the fancy of people into collecting things. but the others who are paying money just for a hash value (not even any commercial rights) ... i don't get it.
@@cruzefx3652 yes....SOME artists...I wished it would be ALL....then maybe I would understand it.....but they pay what....100/200bucks while people are stupid enuff to buy shit for 10k? I don't get it....
What an excellent, confusing, hard to legally define way to launder your money.
Right?
That's the art world in general!
You can't argue with people who reduce the art market to just money laundering.
That's a BINGO
And how exactly to you launder ETH? It's not fiat currency it's ethereum smart pants.
Can't wait to watch this unbiased, objective take on the matter!
Ha.
Only been over a year and we still have not gotten it.... Hmmmmm
@@bjam89 I mean Beeple profited big time on this. I'm sure now more than ever he's proud that he pulled it off when he did.
Just here to remind people more then a year later and they have yet to apologize for trying to legitimize this scam system they themselves took part in.
They're still releasing NFTs on their makersplace page, I don't think we're getting one
Almost 3 years later We are still waiting, instead they are jumping into another scam. You either die hero or live long enough to become a scammer.
25 mins of Beeple deciding whether to wear his mask or not.
I was so happy when he finally decided to take it off. 😂
@Vincent H. couldn’t agree more.
@Vincent H. Ok. Tell that to my aunt who died what had to be a slow, sad death with liquid in her lungs and far away from her family.
@@tillholder2400 We can't, she's dead.
can't leave his fucking head alone, or stop pouring things into it. worse than bob geldof.
The biggest issue I have with Beeple's art being sold specifically was that the people bidding (the final bidders specifically) were just crypto bro's who own NFT/crypto platforms themselves. They were literally buying ad space on news headlines for their platforms, their own coins/tokens and NFTs in general. It's pretty shitty IMO, but kinda part of the whole scene. Just blowing hot air up each others orifices.
And Beeple apparently owns 2% of the investment fund which bought his art. The whole thing is a giant circle-jerk house of cards pyramid scheme where a few already rich people will make huge amounts of profit while everyone else gets screwed.
@@Redswipe Do you have any evidence of it? Its pretty big assumption otherwise.
@Zwenk Wiel No, youre thinking of the "fine art" market, which is what the NFT/cryptoart market is mirroring but in a digital space. Its were you see pieces of art sell for ridiculous prices just so that it can be further speculated on, thereby increasing the price and making headlines in the news.
I really don't get this NFT thing bc at the end of the day YOU DON'T OWN SHIT! ONLY A CERTIFICATE.....NOTHING PHYSICAL. Not even the license.....wtf......it's just scams you into crypto shit
@Zwenk Wiel If people REALLY wanted to support online artists, theres many methods of direct support like patreon, donations, commissions, prints, merch, etc. The NFT market if anything creates opportunities for people who are not the original artist to profit said original artists work.
It's funny how Beeple says things like "you own it" just to later clarify that you certainly don't own anything instead of a stupid token. Very classy.
Right on point!!
Isn't that artwork is in general? If you buy a painting, you don't get the copyright. You just get that copy
@@sachinsurya007 honestly, I have no idea, with digital pieces you can definitely get a license that allows for reselling copies of that artwork or the artwork itself. But that's not even the point, misinformation is the point - people don't know what they're paying for, artist don't really understand what they're selling, it's just another speculative bubble, nothing else and it has very little to do with the artwork itself.
@@sachinsurya007 If I buy a painting, I own a physical copy of that painting. If I buy an NFT, it seems like all I own is a picture of a painting.
@@shadowstrife3117 exactly, you don't even own the original files
Every time this is explained to me money laundering seems like a good analogy and the scam alert in my brain goes off. I maybe and hopefully am wrong.
Not wrong, money laundering is currently the main driving force behind the perceived value of NFT. It's incredibly easy to launder with.
NFTs are a really cool concept, but it’s still wack that people are tokenizing other artists pieces of work and stuff on Twitter randomly. At least with smaller artists that don’t have that strong identity.
This, absolutely this. This is my BIGGEST issue with NFTs. I also commission a lot of art and am 100% not okay with some random asshole stealing art from the artist I commissioned and coincidentally stealing the art I own.
Yeah you can upload, duplicate your art and upload multiple versions of it
Yeah, this doesn't really prove ownership of anything... as he said, anyone can put something up and all they have to do is pay a bit of money. If someone "posts" someone elses art and that artist goes to do it, then the actual artist gets screwed? I don't get it...
Wait whattt that’s happening?
That sounds like a legality problem to me, I’d sue if someone stole my art and proceeded to monetize it.
@@Jarekthegamingdragon Makes me glad to see you also hate NFTs Jarek. I knew I subbed to you for a reason all those years ago
Beeple: "You can't just tokenize other artists work..."
Me: "I'm... I'm pretty sure this is EXACTLY the problem with NFT's right now and countless artist are having their works stolen then being unable to reclaim ownership of their art while thieves make bank on stolen goods... He means famous artists, right? Yeah he means famous artist..."
lol, his logic sound like bs the moment it left his mouth "oh but people will know its not yours". yeah sure they will. everyone on the planet knows all information about everything, thats how reality works, right.
nah, he 100% said that you can mint a token for someones art but that it would be stupid to sell/buy because an nft is worthless without the actual artists minting. like some random dude on the street selling you a signed tom hanks poster with 0 proof of authenticity, completly worthless because it all hinges on the artist signing himself. if the seller cannot prove the nft is from the creator then it is completly worthless. the artist can also 100% sell an nft for an art pice no matter how many people already did
Just go to the marketplace,show that you are the original artist,and sell your art with the token.
The art bought before will devalue while your art will increase in value.
GG EZ
Dude it's new, like anything new there will be moderation down the line. TH-cam was thes and way, people used to steal content from tv shows and cartoons and stuff, not to mention people to this day steal others art on twitter to create a name from themselves as well. Sadly exploration is everywhere and I promise u this will be fixed int he future. It just blew up so fast and investors and people who don't have much money are getting greedy.
@@XxjeffersonDkidxX and how do you prove that?
"You can prove that you own a piece of art"
Nope. You don't own the art, at all. You don't own its existence, or its copyright, or the right to reproduce it. You only own a spot in a database that proves that you once paid money related to it, that's it. You own bragging rights, nothing more.
yeah, it's the digital version of owning a signed copy of a great author's book, you don't own the story, or copyright, or right to reproduce. you just own some paper with a signature from the author, you own bragging rights nothing more.
@@ravenflare8076 Ooh that's a good analogy! Nice 👍
With beeples art there is a physical aspect that shows you own the art and its from the actual artist which is why it has value.
@@centiantcommander4342 i don't think it is even the fact that it proves it is from the artist, but the just having something physical to show. that would be the real value that he added.
i doubt those images would be sold for half that value if wasn't for those pretty boxes and tablets.
@@Szobiz you clearly don’t understand the value people place on simply owning a piece of art.
Would be interesting to study the link between Beeple and his buyer. It's very classic in the NFT space to use wash trading and money recirculation in general for promotion. For instance, the buyer of Beeple's record NFT is Vignesh Sundaresan of Singapore who's not completely isolated from Beeple business-wise. It's probably a sort of arrangement between friends for a bigger scam down the line.
I think Corridor should warn more about the scam aspect of NFTs rather than present it like an artistic endeavor. And not use a huge promoter to explain all aspects of it, even if Beeple is quite honest NFTs transfer no copyright, no ownership, no artwork and no value :s
can't wait for Wren's VFX ARTIST REVEALS HOW MUCH POWER NFT NEEDS
And how it's 73% powered by reneweables, making it one of the most reneweables-centric sectors in the world. Isn't a province in China reportedly fuelling mining 95% by hydroelectricity?
@@Dougwun Those statistics haven't been proven, it seems they are crypto propaganda.
Also, the heat generated from the mining alone should be a point of concern.
Also, "it takes a little bit of actual money" what an hypocrite! People are losing money, it can go up to $200 or more for a single jpg. Say the truth Beeple-liar!
@@spicyf Ah, you're right , I just checked my very crpto propaganda sources and I cited incorrectly. My source (Cambridge University's 3rd Global Cryptoasset Benchmarking Study) stated that it was 76% of hashers use reneweables as part of their energy mix. However, 39% of the hasher's total energy consumption comes from reneweables (page 26). I got my per cent who used renewables confused with total attributable to renewables which overall sits at 39% based on their findings.
Do you have the stats on heat and energy consumption for the global visa market so we can compare?
You can only make money if you are already famous, or you have a lot of followers. For the rest, it's a total BS Ponzi scheme! Congrats Corridor: you guys are just becoming the worst by supporting this scam.
What is an NFT? Well, if you're an artist on Twitter, it probably means someone's stealing your artwork to make money for themselves.
My bushit meter broke the day I found out there's bots that look for keywords like "omg I wish they had a shirt with this" and then it steals the artwork and insta-places an order for a small quantity of bootlegged shirts and starts spamming the person and anyone in the comments with the link to it 😬
@@maeton-gaming Yeah, I remember when there was a campaign to use that phrase against the bot by making them plagiarize Disney IPs, with such info written on the image. NFTs are the Bitcoin version of T-Shirts.
Like the internet wasn't already god tier at exploiting creatives and stealing their shit.
Well, they're trying to. Those tokens dont mean shit
While also using up so much fucking energy and causing a LOT of problems for the climate
I'm happy for him and he should get paid but I know I'm not alone in saying that NFT is the dumbest thing that's ever happened.
Ikr noone think about quantum computing? What happens to all the value tied to these classical cryptography thingies in a couple of years? I mean when the tokens become a little bit fungible
ah yes selling non physical art like selling licenses but through crypto is so stupid and not just the same fucking thing
@@daniel7587 i think because quantum computing will never be mainstream like modern computer because it needs special cooling and only big corpo can afford it. But i mean anything could happen
@@lorenzodemonti there was a time where owning a computer was a rarity and only the rich had them.
@@pineapplepie4929 It sure as hell doesn't use 263,538 kWh of energy and emit 163,486 Kg of CO2 just so you can have this meaningless ownership of a photo you could obtain easily. I'd rather pay thousands for a physical photo that was signed by the artist than this.
Wait so can some rando just steal my art and call it a day since no one knows I exist...
yes
Absolutely
Exactly that's why I don't even get the point of NFTs... if they don't prevent someone from screenshotting and then stealing work... what even is the point? In fact, what even *is* an nft? I thought they were pixelated pieces of art that only get revealed to the bidder *after* buying it... but turns out their not always covered by being pixelated. So wtf even is an nft lmfao?
@@cashwin45 the owner has the digital code that proofs that he is the owner..
if you tokenized your art immediately after finishing it by uploading to the blockchain then you would never have to worry about someone else claiming they were the creator...i don't really see NFTs as lifechanging but i'm not a collector...it's a big deal for collectors, and i would think an even bigger deal for creators as they can now protect their creations.
Not super related to the video but it makes me real happy to see that the embroidery I made for them like two years ago is still on the wall despite the changes in the studio.
That’s cool. What’s the time stamp where I can see it?
Ooh that's nice! Let me screenshot it and tokenize it without your consent 🥰
Is that the only way women are allowed in the studio? 🙃
@@fruitypebbles803 they have like 3 or 4 female employees
@@fruitypebbles803 Wooow you really are Fruity
Well, ofcourse he is all for it. He made 69 million dollars by selling a NFT
Well, 11 years of work, he's deserve it
@@andrevvv why? are art valued in years? well I start doing art since 9 I must valued for at least billions. the truth is best thing he can do is to just fucking lay low.
I really don't get this NFT thing bc at the end of the day YOU DON'T OWN SHIT! ONLY A CERTIFICATE.....NOTHING PHYSICAL. Not even the license.....wtf......it's just scams you into crypto shit
@@SVAFnemesis well he's been making art for 11 years EVERYDAY!!!! STFU lmao you really compared yourself to beeple smh
I don't think he was expecting to become rich when he first got into it
When Beeple first appeared on Corridor Digital he came across as a really passionate and humble artist.
Did you end up seeing that video where he was teamed up with Peter? If you get through that video without wanting to curbstomp Beeple, I'd be impressed.
i'm actually surprised this is still up, if I was you guys by now I would have subtly deleted the video, and whenever someone says "beeple" I would go "who? never heard of em"
The weirdest thing about nft is that is takes the the existing art market as somehow rational and valid. Most of the art trade just allows rich people to transfer money easily. NFTs gonna go the same way once the rush is over.
Beeple already did this with the dude that bought his 69 Million dollar piece.
AND at the end of the day you OWN SHIT. PHYSICAL SHIT....not a goddamn certificate
I hate hate hate that people are trying to promote NFTs as a means for digital artists to monetize their work, because the last thing artists should want is to emulate the fine art market. If you want to support your favourite artists you can already buy their work and comissions without the additional bullshit and significant environmental impact and everything else that comes with NFTs.
It is rational when the art market values talent, skills and meaning.
It's already that.
This whole thing is just the next step of realizing value is arbitrary and you can just assign it to whatever. I’m not trying to sound like the edgy “everything is just a social concept” kid, but this is basically just the fine art market with all its problems, but at the speed and scale of the internet
it is just the stock market, you are correct
Like Beeple mentioned, everyone is agreeing about the 'ownership' and technically in most countries the citizens have agreed that currency has value.
Is not about social concept, it's just a fact, value is subjective and individualized.
Supply and demand at it's finest.
@@Moozeooze which is kinda funny(and sad) thinking about it considering the gamestop hedge funds deal a month or two ago...
I mean it's not edgy just because it's true, but agreed.
SPOILERS ALERT: And in the end Bepple were in the scam all along, who would guess this unpredictable twist.
*NFTs are a way for influencer artists to get even richer at the expense of the environment and smaller artists' work being stolen and tokenized. WIN-WIN, amirite?*
Of course the guy who made 70M$ out of it and his friends are gonna say how great it is.
CC was going downhill in the past few years, but now they're going full sellout. Glossing over the worst issues before announcing making their own NFTs.
So long, Corridor. It was fun while it lasted... (and there's melodysheep who falled down into nft too. sad)(edit: mcdonald too, apparently)
@@readyforlol it’s not that deep. Bruh. Just grow up
@@C63 That's not the only thing i'm basing this on. It's more like the final blow.
I mean come on, they posted only 2-3 videos on their main channel in the past 6 months, and have focused more and more on their vlogs where they invite celebrities. Their videos now contain 2-4 calls to action each. Sponsorship segment, call to check out their social medias, call to check the invitee's social medias, call to write a comment for what they should do next (or drive engagement metrics up), calls to buy merch...
The few actual short films they make anymore are engineered to go viral instead of being their own thing. Go compare their Bosstown Dynamics stuff with what they used to do like Brush with Death, or Clock Blockers etc. Their last video was disappointing imo, and felt like they did it more for the Epic megagrant than to make a good video.
Why would you say that? The concern is valid. The current way the blockchain operates is the Problem not the artists themselves.
Some artists have spoken against NFTs because of the huge environmental impact of blockchain transactions. One of them calculated that the amount of power used for a single transaction was around the same as two years of his studio. I'm glad that the issue was at least discussed in the video and look forward to the one dedicated to this topic.
I still don't get why this NFT would effect the environment
So what? "Two years of his studio" is meaningless. It's probably equal to 10 years of vacuuming or 30 years of toasting bread. You can make any unit conversion and make it look worse than it is. You need perspective to actually understand the impact. And in terms of absolute numbers the impact of NFT's are negligible.
You people are brainwashed idiots how much storage do you think something like youtube takes its not even a comparison wanna go save the entivroemnt from Servers go shut down youtube
@@fa1ruz the power usage of digital cryptocurrency is where the environmental impact comes from.
You have millions of computers being ran specifically for that purpose and only that purpose. Combined it's one of the worse uses of energy mankind has.
All human activities leave a carbon footprint. Lead the way and turn off your computer.
I understand that you are talking to a person who has personally benefited from this and who you are friends with, but this whole video seem heavily focused on the positives. I know that you are making a follow up to this and I believe that you aren’t trying to do anything malicious in secretly promoting this, but it just felt like most of the questions were basically “hey can you tell us why this is so great?” With only occasionally mentions of everything else that goes into it
I mean, this dude made 69 million dollars. From his perspective, it's all positive.
STFU
Agreed, this video put corridor crewz in different light for me. I think they know exactly what they are doing here.
He did say that its risky and may not be worth it, but i agree still not enough emphasis on why it can be harm
Exactly! I don't know if they are associated with the dude in some business way but they supporting NFTs rubbed me the wrong way
this is the first time in my life someone older then me explains something about technology that i just think “shit im too old for this”
why i'm in tech and this concept is making me old?
I have that all the time. I still don't know jack shit about bitcoin, how blockchain works and this is right in that alley. I really try to understand but it's the same as a person speaking Russian and Portuguese at the same time to me: it doesn't make any sense to me
Luckily enough for you they did a bad job of explaining it
@@royroos8036 Listen to Shapiro's crypto for dummies.
@@royroos8036 Yeah, and WHY!? Like, I understand paying for a signed picture but this and bitcoin is just nonsense to me. And how does it cost so much energy and emit greenhouse gases? Then there's mining? HOW DO YOU MINE DIGITAL CURRENCIES!? Do they play Minecraft or something?
To think he had no idea of the upcoming $69 million... 🤯
Nice
The $69 million he got from selling it to his crypto-bro friend who created a cryptocurrency Beeple has a significant stake in.
practically self-dealing.
@@Ostermond what crypto currency is that?
@@Ostermond he can donate all of his money to a carbon offset fund and ALMOST repair half the damage to the environment he did.
@@Boeing_hitsquad Does the sale price have any impact on the amount of energy that is being used? I was under the assumption that something selling for $69m has no more impact than something selling for $100. Is that wrong?
My biggest question is about the counterfeit minting of other artist's work. It's already blowing up into a huge problem where these bot accounts just scoop up a bunch of digital art from wherever they can get it & then these scammers are minting art they don't even own the rights to leaving the original artists with fuck all.
It's not a huge problem. Why would it be? It's just piracy, it doesn't affect the artist in any meaningful way. The artists aren't deprived of anything in the process.
@@peacemaster8117 if they try to mint the work and sell it they're deprived of the money they would have gotten. And if they didn't want to sell the work, it's now being sold against their will.
@@peacemaster8117 Cool, lemme just deny you an opportunity to make $10K from a day's worth of your work & then you tell me afterward how you feel about that.
@@hazonku How are they being denied the opportunity?
@@benstanfill363 No, it isn't, because the work isn't being sold. I dunno how you guys still don't understand this since Beeple explained it so simply in the video.
25:17 This is so frustrating, all the work you had made so far WAS ART. You don’t need NFTs to make something art
Edit: added timestamp
The way some digital artists are trying to adopt the fine art market wayd of giving value to art is reminding me of how games are trying to copy hollywood, how cg anime tried to copy anime instead of being their own thing(which btw is finally changing in recent years), or even something way more lame: how some vegans give up on meat but instead of making vegan dishes, they just create fake meat.
Just because you're not among "the big, widely accepted by everyone guys" doesn't mean you are worthless... Just because digital art doesn't work like fine arts, doesn't make it any less worthy of being considered art.
@@iota-09 plus value in fine art is widely accepted (even by the artists) as fraudulent. Value is arbitrary and it’s just a market for the rich
People have to false impression that your work isn't art unless there is a dollar value behind it... or if it's physical, for some reason.
not a good look for CC to be this uncritical of what their friend, one of the very few people who're heavily profiting from the system, is saying about NFT while not bringing up any of the many valid points about how this system is very much hurting artists and the environment
Yes, *especially* the environmental section.
Did you not hear what wren said? They're going to be making an entire video on the power requirements of block chain.
@@MrSamdabeast What he says about "the problem is the way the blockchain is power hungy" is nonsensical.
The whole point of cripto and the reason they have *any* value is that its value is directly correlated to the compute-intensive work that goes into creating them and that makes economically impractical/impossible brute force the cryptography and effectivly "double" one unit.
Therefore I don't think the video will really address anything
the environment argument is fucking ridiculous. GPU’s minting or mining NFT’s/ether and other forms of crypto has such a minuscule footprint compared to all of the other carbon producing things us humans do on a daily basis. I like many other people think it’s important to be environmentally conscious but part of me thinks that these blogs just want to shit on the technology for the sake of having a headline. I do agree the blockchain needs to go from proof of work to proof of stake, there is absolutely no doubt about that but I just think everything regarding this environmental issue was a bit overblown.
I do however agree that this can be potentially harmful for the artist community and that is a major concern of mine
@@Mac0SXTutorials101 Currently bitcoin mining uses more power than microsoft, google, facebook and amazon's data centers combined. And for what? To fuel a speculative bubble that has no stability and no actual value. The tech is interesting, but how its implemented (its massive level of inefficiency, thats what gives is 'value') and what it costs environmentally is utterly obscene. And thats just bitcoin. More power then the whole of the Netherlands and its 17 million citizens. Its fucking obscene.
NFTs are a new version of the "buy a star" scam. You're buying an entry in a database, nothing else.
Btw, Beeple has stakes in a NFT company. Whatever he's telling, he's probably lying.
He's not lying, but, this was probably planned from the beginning as some kind of PR stunt from that NFT company. The guy who bought his everydays for $69 million owns the largest shares.
True
@@alan.smitheeee What? Got a link to a deeper dive on this?
You are buying the rights to something on a specific blockchain. Thus you are able to mathematically prove that you own that thing. When you "buy a star" you do not own it. Furthermore, what do NFT companies have to do with this? They do not control the blockchain in any way. If you want to know if NFTs are legit then read the source code of Ethereum.
@@cow4200 I think @Neo Lix wanted to say that owing an NFT doesn't mean a whole lot, just like buying a far of star you can never get to the whole market is based on selling something without inherent value.
An NFT doesn't do anything and you can't use I for anything apart from selling it on.
NFTs is basically paying to get your name on a list. It has absolutely nothing to do with "ownership" of a piece. You don't get the copyright or any other rights to the actual artwork; you just get your name put in a digital registry, associated with that piece of art. A digital registry that's really, really, really bad for the environment.
I'm glad for the artists that have found a way to make a living from their art. I'd rather live in a society with some form of UBI, so anyone who wanted to just make art and not starve to death could do so. But we're not there yet. So I'm happy for the artists that manage to get this to work for them. But I don't like the systems or ideas or technologies - it having some good effects doesn't mean it's an overall good thing.
As someone who's against UBI because it doesn't scale properly and can very easily cause a collapse of economics... I agree with you completely on this NFT stuff. It's not passing the smell test so to speak and from what I've researched it is not a good thing at all.
Exactly! Wanna support an artist? Commission them! Join a Patreon! Fund & commission their projects. Don't pay rich fucks out to create false scarcities.
@@xombiekat13 Patreon is fine, but they're not usually a very profitable or long term way to make money. While I'm not all for NFTs myself, I don't blame artists (or "techbros") for wanting to get in on it.
My biggest problem with this whole thing is there is no actual ownership. What you buy is really nothing. Physical art, you get the piece the artist touched at least (whether that has value is still up to the free market), but with NFT’s you get nothing. It’s baffling people would spend thousands and millions on absolutely nothing.
@@Kyle_Man I guess you get pretty much the same thing as you do with regular bitcoins: something you can sell. The value lies 100% in the idea of it having value. Which, I guess, technically is how money works (though there are more systems in place to protect the value of actual money).
NFTs feel like the sort of thing that only works if you see art as being an investment first and foremost, and only care about it as such.
Personally, I don't like cryptocurrencies overall, but I guess for people who do, NFTs make more sense.
Is anyone else actually really sad that Clint is leaving CD? He brought so much life into the studio & videos.
I am super glad he is gone.
@@kibordpengin why?
Yeah I'm sad he's leaving, he was super talented
To be honest I think I'm the only one who actually doesn't care and would prefer just to have NODE back. Enjoyed that a lot more than Corridor digital..
he literally comes back for artists react
I'd much rather just pay an artist to make me a custom piece of art. NFTs seem like paying for photos of your dinner.
What if they are really good photos by a photographer you support and like?
I think physical art and NFTs can coexist. I also think people should be glad that artists are discovering new ways to make a living.
what?
@@sean3000 Can they though? All I've seen is a massive influx of stolen art. The only people really benefiting from NFTs were already well established. There really isn't a saving grace to them.
NFT is just a certificate of authenticity.... That's impossible to copy or reproduce...
i was expecting a better insight on the NFT situation considering the amount of theft and how much it harms small artists AND the environment
I mean, would you talk about that, if your goal was to push something? It's cult propaganda.
@@JanPospisilArt I wouldn't even be surprised
@@lordjaraxxus663 anyone can claim your art as their own. That's why people end up taking down their art so it doesn't get stolen, most of the instances appear on twitter when people use a certain text which sends the art link to a bot which then converts it for them. You shouldn't go insulting people online without doing your own research and generally understanding that there are people who do this for their own gain ONLY.
I couldn't give less of a damn about NFTs cause they're just a scam and nothing else which will die out in 2 years once this is over. And you bet people will take advantage of it now that they've been advertised to just how much money can get out of it even though it's not even that simple when Beeple has been continiously doing it for 13 years straight which is about 4745 art pieces. (only if you're a famous artist as well course cause if you're not then too bad.)
a single (ETH) transaction is estimated to have a footprint on average of around 35 kWh, equivalent to an EU resident’s electric power consumption for 4 days. anyone with a powerful enough computer can do this and steal someone else's work in the meantime as well
The links are so goddamn complex that you need shit ton of power for it which is generally, surprise not a good thing. Why do you think so many people are against NFTs, do you geniuenly think we wouldn't encourage it if it wasn't a scam
@@lordjaraxxus663 hackers can also easily steal your NFTs so good luck with that, if you have your credit card info on your account as well then that's even better news! If only people cared so much about the future generations as much as their precious "Non Fungible Tokens"
@@zukazuu Hackers stealing your NFTs should be as difficult as robbers breaking into a house and taking your irl paintings. I think NFTs are a new thing, so maybe there still isn't that much NFT security, rules for minting and manpower to ensure authenticity, but making it as reliable as possible should be the goal.
I don't see any reason it shouldn't be trusted as much as real, tangible artwork when the NFT system reaches maturity.
This is interesting and all, but all I can think about is how the combination of selling artwork with blockchain tech is a money launderers dream. Completely subjective value, and very difficult to de-anonymize if the buyer is careful. I feel like this may be its REAL use-case.
It's exactly that.
As an artist, not only am I concerned about how this form of market can be taken advantage of by art thieves, but I'm also concerned because there's been information saying that the machines used to make NFT work are more detrimental to the environment than the average car. I get that learning about new forms of technology can exciting but from what I've been hearing and seeing, this is more worrying to me than anything.
even beeple himself was caught stealing from other artists for his pieces
@@conrad_os Wait, really? Do you have a source for that?
@Joey That's wildly inaccurate. You require tremendous amounts of processing power to generate an NFT from the algorithm, and you require multiple servers to accomplish it. That means large amounts of energy, and much like bitcoin, entire server farms are used to that purpose, which expend so much energy as a whole that they do have a discernible impact on the environment.
@Joey 1) The financial system serves billions of people. NFTs serve only a few individuals. When the energy expenditure by a few is comparable to entire nations, it's a problem.
2) What matters is single operations. A transaction of any kind is instant and doesn't need anything other than the power to keep the computer and the internet on. The generation of a single NFT requires magnitudes more power because it needs to process the blockchain algorithm and that takes a lot of power from multiple computers running at maximum power. And again all of that power serves a single individual for a single NFT.
@Joey Wouldn't say false. Blockchain benefits the few, usually already well to do individuals requiring huge amounts of energy does make its mark. Sure it's only a fraction now, but estimates evaluate this in terms of country-consuming power while this technology is still pretty much in It's infancy. The environmental impact is yet to be determined, but of course it seems fitting that the poor folks in poor countries with little chance of ever benefitting from this are the ones affected the worse by climate change.
There is of course other ways to negate the environmental impact, swtiching from proof-of-work to proof-of-stake models. Guess we'll just have to wait and see.
There's to strong a disconnect from reality and someone like Beeple. He said "someone can copy your work through a screenshot and say it's theirs but someone comes along and says 'no it's ____'s ." It's not the case for an artist starting out without a backing of any type. If I posted something really good without a known name behind it and someone else copied it, no one would know who to stand up for who. That's why it's not a realistic concept.
This man really drinking a Starbucks Frappuccino and a red Bull at the same time
This man does cocaine for sure
He has ascended past human
Next video should be on the carbon footprint of a single NFT.
Apparently the computation power to sell one is the same as a persons power usage for 40+ plus years on the low end.
I’d love to see Wren do a Eco analysis video explaining how much power is used in the sale of a NFT.
People are blowing the environmental impact out of proportion. Those transactions would still be happening even if crypto art hadn't popped up in the last year (not saying that's good). The main issue imo is that these tokens are essentially just certificates that link to these private minting websites databases. If their servers shut down for whatever reason (they take the money and run, go out of business, etc.) your token is worthless. Yes the proof you own the token is on the blockchain, but the token is literally just a JSON file pointing to their database. It's 100% a scam from these minting websites.
@@GO-tq6hs why don’t we let Wren do legit research and prove the current system is a massive energy suck and how possibly a new system would allow these transactions at a much lower cost to the environment. Good old science always excels over opinion. Selling art for charity that earns $100,000 dollars at the cost of a larger amount for energy consumption doesn’t sound charitable to the earth. I would love more factual information on this subject.
If anyone follows @TenHundred, he did an incredible comprehensive video on this.
Was really hoping this video would explain what was going on with Twitter and all my favorite artists locking their Twitter accounts from all their art being tokenized without their permission.
Sadly the Corridor seems fell prey to the NFT lies, so you probably won't hear any negative stuff about it here. Who cares about the negative aspects when you can make some sweet $$$, amirite?
@@DarthBiomech Either that, or you're buying into a fear-mongering meme and the Corridor lads were actually smart enough to do their research and understand both sides of the argument before moving forwards.
@@peacemaster8117 But... they didn't. They glossed over anything that i think are serious issues. Art theft should be talked about, but it's a conversation they don't want to have.
@@DarrenNoFun How is art theft a serious issue? People bootleg content on TH-cam all the time but we don't use that as an argument against letting people upload TH-cam videos.
@@peacemaster8117 When you're friends with the literal face of NFTs who's a millionaire because of it, you are NOT gonna be unbiased towards NFTs.
The part of his explanation that should give everyone pause is "Everyone agrees". He said it multiple times while trying to explain the validity and value of NFTs. What happens when someone doesn't? What happens when they duplicate this on another platform? "Yeah, your NTF of that art is cool, but I've got the XPZ version." or something ridiculous like that.
I can't be the only one to think that this whole thing is just a massive freaking scam.
Ive tried getting a more concise answer as to "what exactly is the point of nft's/how do theh work"
And ive yet to get a clear answer
Generally when something is this convoluted its 100% a scam or fad
You can always say the same thing with other art. With basic paintings, or mediocre “abstract” art.
The world is going digital and it’s only going to get more valuable
I don't even know what it is lol.
Bro did you even listen, it's basically almost exactly like bitcoin or cryptocurrency, they just added images to it as the "token". And then you can sell it again when it goes up in value or just keep it
Money laundering
Niko saying 70 million instead of 69 million
Everyone: dam niko
not nice.
But still cool
Not nice
Yes I'm deeply disappointed he didn't say the joke number. It literally gets funnier every time I hear it.
@@LawrieAndCo same
This is going to give crypto art so much visibility I’m so mad.
Like I’m glad for Beeple getting paid for literal years of work but god NFTs grind my gears just as a concept.
Why
Why
Why
1) because of the amount of power it takes for servers to produce crypto currency, it is harmful to our environment. Something that is already at a tipping point, this will add another source of needless pollution thanks to Capitalism. 2) its a pyramid scheme. you have to buy crypto currency to participate. its a scam.
NFTs are harmful to the environment. The cryptography involved consumes tons of power on an altogether frivolous endeavor.
Yeahhhh, I'm gonna guess that once Disney realizes your "fair use" digital art of Buzz Lightyear made a hundred thousand dollars, Disney is going have a bit of a problem with that...
Andy Warhol and Roy Lichtenstein did paintings of Mickey Mouse... Jeff Koons made a sculpture of Popeye that sold for 25 million... Fair use is Fair use, you cant back-pedal after the fact.
Nice try Disney can’t do shit bro it’s been 7 months he still rich 🤷🏻♂️
If an artist takes part in a system they already know has a damaging effect on the environment, regardless of what the actual source of that damage is within the system, and that system isn't a mandatory part of life under current civilization, then yeah, the artist is kinda part of the problem, Wren. You can talk about being aware of the damage something creates all you want, but if you're actively contributing to that damage at any step, those words don't mean much. This isn't wage slavery under capitalism where you have no choice but to participate, this is something you can abstain from until improvements are made, or make steps towards those improvements yourself. If you use NFTs with the goal of improving it in mind, more power to you, but most people are just doing it to make some money, consequences be damned.
If the English alphabet was destroying the world, and you said "It's okay because I only like the letters X, Y, and Z", it's not okay, because you're still upholding a cog that contributes to the operation of the machine.
Even if NFT art _on its own_ maybe doesn't have a significant _additional_ environmental impact (which is what Wren said), then it still helps _validate and keep in place_ the greater system that is known to have an IMMENSE environmental impact!
This was pretty much exactly what I said to myself when I got to that part. By making another way to profit off crypto you're just making more people want to jump onto the crypto bandwagon and the people already invested in mining crypto invest even more machines into the operations and it ends up a net negative.
Only semi related, but many people don't get that the value of crypto "currencies" is pretty directly coupled with energy consumption. The value goes up, more people start mining, more energy is consumed. Proof of work at its worst.
I am mining ethereum (blockchain on which NFTs are based on) and I know that it uses a lot of energy. But ethereum is actually transitioning from proof of work mining to proof of stake in about 2 years if all goes according to developers's plan. Which means that staking nodes will replace graphics cards and thus lower energy consumption. Pos nodes validate transactions based on the amount of ether that is staked and for someone to alter the past blocks they would need to own more then half of all existing ether which is practically imposible. You know what also uses a lot of energy? Internet, cloud storage datacenters, servers, 5g network and many more services that we use everyday. Nobody is complaining about arguably useless pornsites effectively causing people to use electricity just so they can fap. Just an example.
I just add that what he says about "the problem is the way the blockchain is power hungy" is nonsensical.
The whole point of cripto and the reason they have *any* value is that its value is directly correlated the compute-intensive work that goes into creating them and that makes economically impractical/impossible brute force the cryptography and effectivly "double" one unit
@@salmiakki5638 It does not have to be this way. With Proof of Work it does, but real money does waste energy by design.
no ones gonna say anything about how beeple is having a frappuccino and a red bull in the same sitting
The man is living in 2030 and needs his fuel. Gotta keep up that grind.
Actually, someone did comment on it and I just replied to it. Cheers
How else do you think he's managed to make a daily art piece for 13 years....?
And this is why he'll die young-ish like most well to do artists.
@@TheP3NGU1N yo
That’s dark
On the other video I commented "he is so happy" now I know why, he's rich af lol
... he was the same in the video he had with them a year ago haha
this has 59 likes. Why
I feel like watching an immense art-bubble is about to build up right in this gentleman's head...
In short: they brought the "bring your rarest Pepes" meme to life.
My god. Why didn't I think of that before.
Don't let your memes be dreams
Can you do a video on how fast the speed of light is just like how you did how big a universe or how small an atom is.
It really is isn't it? The fact that it was a meme based on how absurd the premise was shows how much of a scam these NFTs are.
SHIT...
Watching beeple say his work might gain value IF he gains popularity knowing how he’s about to blow up is hilarious
I don't know how he could shrink with this.
Now he not only has that incredible story about his daily work, he also is that guy who made obscene amounts of money from a new technology. A technology which at least I believe can develop as a standard.
"It's not bad for the environment, it just depends on something that's bad for the environment and we're creating a greater demand for that thing." Good on you for giving profits to charity though. Maybe Clint left at the wrong time?
@@outcastkatsuki Nah I think i remember clint on his own channel saying he's at least curious and will follow NFTs.
@@260Xander Maybe he's leaving to go full-time NFT?
@@zombieowen one can wonder... World is his oyster right now
Boutta commit insurance fraud to pay for .jpg of amogus
Wish me luck my dudes 😎
Worth pointing out that he is investor in the fund that bought his art. So the whole thing seems fishy.
I mean... more money for Beeple
very fishy, it definitely doesn't reek of fraud to me...
I can't wait to see the video about the impact NFT have over the environment. I'm against bullying artists that are doing crypto art, but I feel like people should understand the impact is REAL.
a single gold ring does 20x as much environmental damage to mine
@@Americanbadashh but saying that thing B is 20x worse than thing A is still acknowledging the fact that thing A is still indeed a bad thing.
@@Americanbadashh so we got against Nfts and minery? Sounds good to me
@@Americanbadashh not really because the gold can sit not wasting energy. The NFT perpetually burns it.
@@TheSonicShoe That the dumbest thing I've read in this thread. Damage is not based on relative numbers but absolute. If one thing is harmful at 100 units then it can be negligible at 10. This the exact reasoning behind vaccines, lmao. Or just consider the following: would you rather jump from a 100 meter tall building once or a hundred times from a one meter ledge? The latter isn't harmful at all.
"NFTS & artists aren't the problem, the way blockchain works is"
Cmon.. Knowingly taking part and contributing to a problematic business makes you part of the problem.
I suppose you never shop from a conglomerate?
Or use the internet, have a cell phone, drive a car, wear shoes?
Pound sand.
@@7fxcyndershade of course, doing all of those things makes us part of a problem. It doesn’t justify NFTs just because people other people cause harm as well. What we should try to do is cause the least amount of harm possible. If we can do without something we should try to do that. Even little things like if we can cycle to work instead of driving.
@@josephn1000 no it won't.
@@josephn1000 yeah except participating in the only system that exists that’s conducive to your passion isn’t the problem, the way the system is arranged is. You’re asserting partaking is a problem without any explanation besides “c’mon”. What’s your explanation?
@@josephn1000 also cycling to work, even if you spent your life avoiding cars, does less than what a second of the oil companies expel. The problem isn’t the individual, it’s the system being upheld by multiples. The multiple people holding the levers. This isn’t to say NFTs are good or bad, I have no opinion on them, it’s to say your argument against a specific point they raised is bad.
Super happy for Beeple's success - it's great to see an artist get rewarded for their work - but I don't see NFT's working in the long run
Aged like fine wine lmao
Screw NFTs. Lots of art theft, huge carbon costs, and most artists lose money on them
This!
People really need to know this
Yeah, the environmental issue is the worst
Art theft is inevitable, carbon cost is negligible, and most people lose money in ALL endeavors. Most businesses fail, most day traders make less than minimum wage. None of these are valid arguments against NFTs, and the last one is only an argument for artists being less stupid.
Yup
The closest thing that reminds me of this is limited edition concert posters.
I don't own the copyright to them, but I own a genuine print that is numbered.
I don't think of it as an investment, but they could be worth something.
Someone could take a picture of them or make a fake one, but I know I have a real one.
I could trade and sell them if I wanted to, but what I really get out of it is the memory and experience and a piece of art that shows people a little bit about what I'm into.
"Scammer explains what his pyramid scheme con was"
Very cool content, very cool.
Congratulations on 10 Years! Long Live the Corridor Crew!
This is the equivelant of Timmy and Tommy saying that the cost of Turnips are 890 Bells per turnip.
If they bleeped every time he said "like", it would've sounded like someone speaking in Morse Code.
Thank you for this video and interview. I've seen a few other youtubers/channels try to explain what an NFT is, but, you could tell they didn't quite know either? So to hear someone who is obviously VERY aware of what they are explain them was very clear and insightful :)
It's funny how I have no idea what they're talking about but I still enjoy watching😂😂
Beeple making NFTs
Sheeple buying NFTs
so accurate
The person who bought is a billionaire
1st time seeing beeple on corridor crew: why is he acting like that? lol
2nd time: ohhh he rich as fuck
this is the 3rd time
Man, Beeple has obviously been spending his artwork earnings on speed or blow, lol!
right? haha
"... before you pick up your Amazon one day pitchforks..."
That was a perfect, subtle shade-throw.
Woah! You mean i can get a special code that’s equivalent to a goofy goober fun buck and all it takes is burning a panda sanctuary??? Radical!
Whoa ! Sign me the fuck up !
A Metadata file that takes over 2 days worth of a households electricity to create. The Wonderful Wasteful NFT Blockchain. How about people just respect and pay artists fairly? Or maybe Corridor should talk to the other large artists that use the blockchain and have never seen any profit to get a side that’s not glorified by some dude who duped the system by being an early adopter?
dude, imagine being given the choice: huge amount of money or saving the environment XD
@@w_szon3115 It's understandable that he's happy making millions from it but it doesn't mean the rest of us have to be happy about it
Lol, no it doesn't.
@@w_szon3115 yet another way for egotists to destroy the planet
@@MWFreerun true, but being given the choice I wonder what would have happened ;)
I absolutely LOVE digital art... and I can't help but worry that every piece of art that comes out now is just going to be an attempt at NFTs, no longer genuine energy put behind the art. And I can't explain how heart breaking that is
But then again, everyone makes art for "likes" so I guess doing it soley for an attempt to make money can't be so bad
@@Leukick Well, a good NFT is a piece everyone would want right? Doesn't really differ from painters who want their pieces to be displayed and bought by everyone... The same motivation to create something catching is there.
update 6 months latter : I see small artist on my twitter timeline getting notifications on their artstation account that some of THEIR art has been posted as an NFT by someone else
This systeme was dumb from the start but I was hopping that it was at least well built ....... it's not well built. Fuck NFT
Grew up in Wisconsin. Beeple's voice is the sound of my people.
Definitely sounds like he’s from up north lmao
Hes definitely says ope when he runs into someone by accident
@@frothyb.923 I still say "up nort'" for everything north of Milwaukee.
Damn, you had to listen to this kind of voice everyday? Painful
Sounds like the Manitowoc Minute guy, keep er moving
The power draw for a single transaction to make this stuff work is crazy ridiculous.
An environmental step backwards is all crypto is. What’s supposed to be the future is driving us further back.
Also more powerful computing (especially quantum) is a huge threat to all existing cryptography.
@@chinesesparrows not really
Not when eth moves to pos.
It’s pretty rough but in the grand scheme of things all cryptocurrency is 2% of the world’s energy, with less than a hundredth of that being NFTs.
We need a better system but honestly the cleaner the production of energy the less of a problem this becomes, since computers don’t exactly have emissions besides heat.
It’s environmental impact is overblown compared to the 70% of emissions created by corporations that could be drastically reduced with just a simple carbon tax. That’s what people should be pushing for.
You guys are such good friends I think the Beep really enjoyed this time his feet hit thr ground for a moment in such a crazy short span.
Was curious about the copyright from the point of the collage images, interesting!
Awesome to see him get a return on 10+ years in these short time spaces. Awesome little time capsules! Packages look cool as well and definitely add value!
Congratz!
7:21 yeah even beeple knows hes just lucky and that most people are going to lose money as this just becomes a more common occurrence
It's a bubble. Im just glad beeple got what he deserved.
@@alexo2303 very true
@@alexo2303 as long as its just artists making the money, and the investor types are the ones losing it
70 million... some fucking luck. lol. i wish i had 10% of his luck.
Not lucky, he's got friends in the biz. People are already losing money.
For animators react: Levi v Kenny chase scene in attack on Titan. Also ex-arm is terrible. If you want to see that
I'm guessing the Ex-arm one would be in VFX artist react
what do you mean? EX-arm is a masterpiece of this generation of animation.
@@AmanRao_ oh yeah, my mistake.
EX-arm is a masterpiece
@@AmanRao_ *That's why they need to react on it* 🙄🙄🙄
1:32 so what about those people selling NFT’s of dead artists work without their permission.
I love that everybody in these comments is much more critical and critically thinking of NFTs than other videos that explain it. Makes me proud of Corridor Crew subscribers.
Looking forward to Wren’s follow up video. Because this video skips over the basic issues with NFTs. You don’t own the art, you own a code that is tied to a specific local file which means nothing on the internet.
Yeah, unless you have a contract that states you own the content, you don't own anything.
I love that you used Beeple's own beep noise to beep out his "colorful" words 😂
Also, I love that the office has been converted into an electric vehicle charging station lol
I love that he starts pacing back and forth halfway through the video
Kudos to the corridor team for asking the right questions!
NFT is a ecological disaster; built on top of a technology that is not prepared for the real world usage, only good for speculating.
And on top of everything, the "ownership" registration is a fucking joke of a unstable system.
EDIT: also lets not forget all the minting of unothorized art; or just stolen art.
Pretty much everything we do is an ecological disaster. NFTs dont amount for a large part of emissions and really how much worse is it for the environment than an auction for physical collector's items, where a lot of people fly in for the event, physical goods get shipped etc. Sure has its issues for which there is huge incentive to be solved, that doesn't mean it won't be immensely useful in the near future.
@@DimitarStanev NFTs and therefore crytocurrencies are a HUGE ecolgical disaster. Some mining networks consume more energy than WHOLE ass countries...
Also most of the energy consumption issues, come from the proof of work test that most blockchains use as a way of validating transactions; but the problem is that there is no real alternative to it.
There has been a lot of talk about changing some blockchains to a proof of stake test, that could help energy consumption... But they have been talking about it for YEARS without any real change. This is not an easy optimization issue, or sloppy code, that can be fixed in a few weeks; the fix that this "issues" need is a breakthought in blockchain technology, and that can come the next week or in 50+ years... We dont know
That is why is irresponsible to just keep using and upping the demand on this systems, with this kinds of energy consumptions; with the fishfull thinking of "it will get better soon" or "it can be fixed soon!"
@@Jsmarquerie would you also say it is irresponsible to be selling 'physical' artwork, having it printed/made and shipped all around the world? Would you say it is irresponsible to buy powerful gpus and have them render day and night for a couple second animation or a nice image render? At what point do you draw the line?
@@DimitarStanev there line is when you are consuming a country's worth electrical budget just to say that you OWN a piece of digital media. And of course that shipping PHYSICAL GOODS has a large cost on carbon emission, but that is other problem, that is unavoidable when shipping physical things; moving things cost energy. Now, crytoart is not for rendering or transporting data, is just for having a certificate of ownership of a piece of said data, with a astounding energetic cost, for just that. Shipping things has an unavoidable cost, and that is a problem that need fixing; but having networks of miners consuming tons and tons of energy just for a certificate of ownership for a transaction is a solution without a problem; and therefore is avoidable (you can own the right of an image/work if you purchase it via a normal way to the artist, without the need of any kind of cryptocurrencies). If you still feel that I am exagerating about this, please look up energy consumption of the Bitcoin and Ethereum networks; and keep in mind that it's just for a system with no real world use, just speculation
@@Jsmarquerie Fair enough, you have some good points. I hope something worthy comes out of this technology that we could perhaps use in the future.
Like older art, it's all money laundering and tax sheltering probably.
Art has value too.
@@IkmelAAA which is precisely why it saddens me when people use art to evade taxation and launder money
@@IkmelAAA Give the utterly huge amount of good art in existance, it's pretty easy to find cheap art. The city I live in probably has a thousand original paintings sitting in charity shops for 50p. Art's monitary value is normally pretty low.
@@LawrieAndCo True, and the fact that many people can produce good art is the reason why exceptional art is expensive
But the money isn't coming from an illegitimate place, right? It was just people buying art.
Mike constantly using profanity in the most natural way while talking about professional artsy stuff... I just feel it, bro!
Awesome point Sam, it really feels like an earned return for Beeple - after all these years of balls deep dedication!
Seeing a miner with a bunch of GPUs in this economy brings forth a bunch of rage.
And using a WHOLE BUNCH of energy just to produce an imaginary circle-jerk... yeah
This was a 30min advertisement.
So?
worse than an advert. its a 30 minute scam.
and we didnt even see jake
@@ge2719 A scam that hurts the environment too, let's not forget.
I fully agree that you should not chastise or haunt artists for minting NFTs or being part of the blockchain, at the same time I think that participating in a system is also agreeing to take part of the responsibility of its downsides. If you are an artist who mints NFTs you are part of the environmental impact it causes, just like if you take a plane trip you are part of the environmental impact the plane causes. You can't swear yourself free under the idea that the plane would have left with or without you, so your impact doesn't count. That's just a self justification for not wanting to take responsibility.
That being said, there are new protocols and ways which will make the blockchain a lot more environmentally friendly in the works. If you are concerned with the environmental impact I would wait a bit before jumping on the bandwagon. In the coming 6-12 months we are going to see quite a lot of change in this area. Especially so as more blockchains move over to a POS model rather than POW model.
Yea same for me. I totally agree with that
You should absolutely chastise people for doing this dumb crap lol. You don't have to do this evil garbage to sell art
@@CpnStraightEdge we get it, you're jealous you're not making $69 million from your chicken scratches, it's okay 🤣
But NFTs are only really valuable since they are an unregulated market with wild west potential on profit. Wait 6 months and it'll either get slapped on the hand by governments/die down on its own. At the very least that's what I hope because there's no excuse to dump stupid amounts of CO2 for a digital certificate of "ownership". Next I'll start setting a box of kittens on fire every time I do a commission. It's not a necessery evil of the system you could do this stupid NFT stuff without the blockchain, stop defending it
@@SwitchAndLever epic climate change denial bro
I've heard if you're real quiet, you can hear a slow clap coming from within George C Parker's grave right now
Imagine just asset flipping other people's work, selling it for millions, then getting praised for it by a bunch of simps.
Eat the rich.