How NFTs are Helping the Art Market Make Millions
ฝัง
- เผยแพร่เมื่อ 2 ต.ค. 2024
- NFT's have become a booming market as collectors and artists try to buy, flip, and sell digital media. Quicktake's Matthew Albani sat down with Duncan Cock Foster, co-founder of Nifty Gateway, to see what the future holds.
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#NFTs #Crypto #Explained
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I personally just don't see the appeal to NFT's
Because the only appeal is for money laundering pretty much like all high "art". Or they just want to ruin the environment, rich people are weird
Oh yeah, I forgot to say: the art market doesn't need to make any more money. That place is already filled with scams, and now we only get more :D
opinion. He is wrong when it comes to saying it will replace physical art. NFT will will be an extension of the art world and only help the original peace increase value or decrease. This is what you call a force opinion by this video. That is why people are so hesitant towards NFT. I think its a great opportunity for expansion in the art world. Only problem majority of NFT apps are charging to upload and sell NFT when it should be a commission base only; since the risk is so high, and sometime the sell price of the NFT could dictate the price of the original piece.
just like uber? what? this guy never heard of taxis?
Solid content Bloomberg Quicktake! NFT finally getting the recognition they deserve!! It’s hard to find good and legit projects, you have to be careful all the time. Hope towerdao and starlight nft won’t pump and dump, been eyeing them for weeks!! 🙏🏻
I’m a fan of your videos! You always make it easy to understand. You mentioned Crypto kitties in your video, do you think it’s a good project to buy or should I go for Spaceland Astronaut or Starlight NFT instead?
Sounds like a tax write off for the rich
As an artist I hate and love this. I love it because money. I hate it because money.
Then 10 more will be made. Then 15 more. Follow baseball cards did in the 90's. Such a waste
NFTs are dumb and people are dumb for buying them
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I heard Lil Tesla X has nft's now 👀
3:23
That's not correct. No one in the physical art world has been able to exactly reproduce an art piece. Counterfeits can get good, but never a perfect match pixel for pixel, aged molecule for aged molecule. Those small differences are how art detectives recognize a fake over an authentic work.
That is a huge difference from digital art, where it is entirely possible to EXACTLY reproduce an art piece with the exact same functionality, look and feel. This one point, makes/breaks the NFT for art idea completely, and I don't find Duncan convincing at all with the current way he presents his view.
I agree completely- I have been trying to wrap my head around the valuation of NFTs for some time. There is nothing “original” about any digital art. There is also no necessary guarantee of number of copies made or to be made. In print making/lithographs, plates can be destroyed and no further dupes can be made. Lastly, my understanding is that the NFT is only a digital record of ownership, not where digital art is stored (?)
The safety of crypto art is in cryptography itself. Replication of the NFT that has been minted would mean replicating the entire blockchain and all of it's current and future transactions (Without future transactions being predicted each next transaction would show a split in the chain and lead to an investigation of the reason for the split). Which would be considerably more difficult. An NFT minted on a blockchain is different than regular digital art. The digital art uploaded on to the open internet is different because all computational systems have to agree on the data pixel for pixel. A blockchain is not directly connected to the rest of the internet and does not have to agree with it. The pixel data is run through a hash function which is ridiculously difficult to reverse engineer. This could even be applied to 3D printing art where each print has a hash embedded in the art work for verification that the print came from the original.
@@TH3BL4CKH4WK but i think thats the point no? Surely the value of a piece of painting lets say, lies in its purely visual aspect, and not how its pixels came to be?
@@TH3BL4CKH4WK Thanks for explaining the actual function of blockchains - the video’s so vague it sounded like nonsense to me, but now I understand it’s just a method of authenticating data transactions
Lollipops by Ani Yan - that is all (mic drop)
Yeah, sorry. I care about the planet much more than owning something "original". If you want to support artists, pay them. It's as simple as that.
what do NFTs have to do with our planet
@@CrewCMC I'm not really in the loop, but I hear that these hurt the planet? Honestly, I've got to do more research on it, but just putting that out there.
@@CrewCMC I'm pretty sure it's because keeping track of who owns what NFT requires a *ton* of energy, which is contributing to global warming.
2:52 anybody wanna play scattergories?
dh
Anyone have links on how blockchains hurt the environment?
What are nft artists gonna do when i screenshot their art for free huh
The test of time and severe critical examination by the art critics, writers and intialligencia will eventually give a definitive answer to your proposed question! And I guess that established artist's will keep their investment value in the 'loooong' term!
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'
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