My Photography NFT FAILURE
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- เผยแพร่เมื่อ 11 พ.ค. 2022
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I Tried and Failed top create and NFT Project- foundation.app/@evanranft
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What are your thoughts on photography NFT's?? Also I should acknowledge I filmed this video two weeks ago and since then crypto in general has taken a big hit in the market. Do you think it will bounce back or are NFT's already over?
NFT and crypto are going to freeze in the next months, until winter when it'll take off again. For photographers, NFT will grow slowly but steadily, but at a fraction of the value of the current NFT world with simple cartoon portraits. It's a cool idea tho
I think it’s because it’s a fairly new thing and most ppl won’t pay attention to it until it’s mainstream. Btw, when do you plan on dropping your course?😲
Hahahahahhahahahaha ….
Hahhahaha…
Hahhahhhahahhhahahaha
Well I’m unfollowing
Interesting, so none of the prints sold?? What do you plan to do with them, are you still trying to sell them as nfts or as regular prints now?
thanks for this, ive seen lot of vids on how to make 6+ figures but few talk about actual costs/results. heard is ppl see nfts as tickets in to "exclusive" circles/events, much more about marketing than the art, which as an artist i find not the most appealing...also, many dont check validity of nfts when they buy so apparently copying still is an issue..
Lessons learned are more valuable than anything! Sharing your lessons, grateful!
This video potentially just changed my life. I always thought my mission in life was to share the wonderful new things i learn with the world. Being a teacher by profession, I consider myself a good communicator, but all my projects lose money and lots of money... because i am passionate about my mission. Although I watched this because I was going to get into NFTs now that the gold rush is over (it's 2023), this video just made me look back at my entire life.
Thank you for this video. If you care about the impact of your work, you just saved a life!
Yooo speaking with this level of truth is amazing, love the content and the transparency.
Thanks for watching!
such a great move to share this amazing experience with us, thanks. you did it with the customer benefits in mind, you tried to keep the benefits real for every one. congrats for what you have tried,
I greatly appreciate the grounding effect your videos have. I learned something, I appreciate that.
Good thoughts, man, thanks for sharing!
Thank you for your honest point of view, such a mind opener and directional. 🙏
Honest, Insightful, and informative.
Super solid video! Most wouldn't be so truthful.
Everything you said here was spot on, especially your analysis on why your collection hasn't seen immediate success.
If you launched this back in August-September you would have been very successful. The NFT Photography scene is very different now compared to how it was back then.
I'm a fellow photographer from Georgia who was very fortunate enough to see instant suggest last August through selling my forest photography that I mainly took in North Georgia and South Florida. If i was to launch the same collection again in this climate it would fall flat on its face. In fact I have recently made the decision to stop spending (wasting) so much time on twitter for the NFT grind. The adoption hasn't happened yet to justify the time spent.
For what it's worth. Your collection is brilliant and the roadmap you've conjured up absolutely sets you a part from the rest. But like you said, unless you are willing to socialize on Twitter with these people 24/7 (especially speaking in Twitter spaces) then you just won't see success. I suspect this will change when (if) NFTs do reach mass adoption. But until then it's best to do other things if one relies on photography for income.
thanks for the education and transparency
Great insight! 💯💯💯💯💯
Think its a farce honestly, you were the only artist I continued to follow after getting into it.
Idk I didn’t want to be overly negative here but it felt like if you didn’t “play the game” you wouldn’t be embraced. So not sure if it’s really about art or what at this point 🤷♂️ fun little experiment tho!
Hows it a farce
NFT's are super subjective. The market is a hard place atm due to global stress. I commend you for trying something up and coming. You summed it up best with your quote about going to the place where the sales are actually happening. Thanks for your content and keep it coming. 👍
Evan brother, you amazing person. Thanks for being a honest. Mostly peoples hide theirs failure. Your failure also learning points for beginners. Respect from Pakistan
Thank you for watching!!
Great Video! Thanks for sharing, I have no idea about NFTs. It’s interesting to hear what’s working and what isn’t for people 👍
Glad you enjoyed it!
Great video, was super super into this project and idea. I think if you keep going and like you said go all in it work out. Twitter spaces and building community/connections there help boost photography sales a lot. Many go on spaces and speak to bring work to new eyes who are already in the space and ready. I really love this idea you made dont give up dude, great work and tips on the video was the realest tips for any NFT photographer
Hey thank you! It’s hard because I’m already managing all the things I do now, but if I can find a system I’m down!
It’s 2023, thanks for the video. You actually helped me understand the NFT joke on a recent South Park episode where Butters is selling NFT’s 😂
Another great video, thank you
Thank you for watching!
Your value added idea - Somewhat reminds me of when a photographer makes a zine and adds value by adding a 5x7 print to package.
Perhaps a few 8x10 prints, a nice box and the zine.
Art festivals and fairs are making a comeback. Take your introverted self to a in person event and see if you can sell them (the 30 x 30 framed prints) that way and recoup your costs.
Then say hey if you like- I will toss in the NFT with your purchase.
Reverse your process.
Watch how Tsherms sells his surf prints online over Instagram. Quite fascinating. He has a bubbly personality which draws me in. Uses unique frames.
It’s all in the marketing I guess! Surfers buy his stuff, not so much other photographers, I guess??
I've been debating whether or not I should get into NFTs for a while and I think this video answered my question. I think there is potential in the tech itself, but I just don't understand the community around it. It's kind of bizarre to me that randomly computer generated PFPs that look like something from DeviantArt that give you barely any usage rights outside of saying you "own" the link to it (the file itself is gone if the servers hosting it are gone) can make so much money, but projects that actually have something to back it up like a high quality framed print hardly get noticed.
I also find it hard to believe that the type of people that wouldn't have even considered buying a $20 print or subbing to a $5 Patreon are suddenly dumping thousands of dollars into a single jpeg that anyone with an internet connection can look at just for the altruistic sake of "supporting artists". It feels like the whole thing is currently based around selling hype rather than displaying artistic merit or providing some form of real world value.
Where do you get the boxes for you prints????
Yo Evan! Really appreciate your transparency with this. I've been in the NFT Photography space since October 2021, and I agree with everything you said. The community aspect on Twitter is very crucial to making sales, and although I've only sold 2 pieces from my collection so far, those sales came from people I connected with pretty early on. It definitely is something you have to put a majority of your time into, so it can be really discouraging sometimes but I love you addressing this topic. Lots of negativity around them in terms of crypto volatility/cash grabs/climate change, but it really isn't as bad as some people think. Cheers dude 🤘🏻
Good insights!!
Thanks for watching and commenting!
NFTs have some good use cases. Specially for royalty distribution, etc…
But there is so much bs is the space that it’s hurting and embarrassing the whole industry.
I’d agree, it’s a solid on paper concept with a lot of issues!
Dude, been following for a long time now, An I do generally mean this… your transparency means a lot.
Hey thank you! I love making these videos cause I think they can help a lot of people who may be interested 🙏
This roadmap is really innovative. I think the concept is too advanced for where the market is/was. There is not a significant widespread basis of trust from people who are NOT just pumping it to increase their own stake in the market. When you hear about the corruption, theft, and appropriation happening in the space, it seems like just buying a print if you like an artist is a much safer way to show support. Your roadmap is an excellent value proposition if NFTs are already an acknowledged long term strategy to grow wealth, but they aren't (yet?). It feels like a second generation idea, and we're thrashing around in the pre-first gen ecosystem.
NFT's are essentially placeholders for crypto currency , too many artists with FOMO . Great vid.
I just want to say I appreciate your openness and willingness to talk about "failed" projects. I'm a hobbiest but I still enjoy hearing about the market of photography and how people are growing and learning to navigate with new technologies and trends and it takes people like you to really talk about the successes and unsucseccful ventures. Really appreciate your vids man super intriguing and informative!
Haha got a good TH-cam video out of the failure!
I don't know much about NFT's and I block the bitcoin requester on social media. I only have seen 2 other photographers talk about it and they were skeptical but didn't a lot of information though. Your transparency is refreshing. Failures only occur when you try. Keep doing what you are doing.
Thanks for the comment and watching!!
Thanks for the video... can you tell me anything about selling historical NFT's from my show?
This is a great video!
For me, what it seems like is that you brought a very “real world” sensibility into a digital space: a lot of your utility was focused around physical elements: frames, prints, signatures, photo books, etc. But I think for a lot of collectors that isn’t necessarily going to resonate with them since they’re maybe not the type who would have filled their apartments with photography prints prior
I create nfts from my art, animations etc. not thought of photography. Might try it
I think you're spot on in your reasoning as to why your project maybe didn't take off like you had hoped. Average Joe hears about paying money fort pixels and shrugs it off, I bet a lot of us viewers aren't very far removed from that. I personally won't get into NFT's because their value is invisible to me - electronic forms of value are I think by nature volatile and hold a higher risk of losing value than physical forms. That's not to say I don't understand why people like and believe in them, I'm just not one of them. Is your foray into this space done as a belief in the medium, a way to give more access to your art, or another stream of income for your business?
As always though, the honesty and transparency is awesome to see. I'm sure the title is pandering to the algorithm but this is far from a failure. You've diagnosed a problem and came up with a solution to fix it, and you got some sick prints to sell to boot if it doesn't work out the way you wanted.
I think there's a ton of potential in NFT's as a technology, particularly with how you attempted to pursue it with sending the prints to the original buyer. That said, I told someone this yesterday, if you put the history of computers on a timeline from punch cards to using neural networks to cure cancer, I think NFT's are somewhere around the "let's program Pong" age. They have a long way to go before they'll become truly mainstream, but I think projects like what attempted here are the type that will matter. Something with real physical impact, not just ownership of a link to a jpg.
Thanks for your honesty, it’s really helpful. I’ve been trying to sell photography NFTs for a now with no luck. I’ve tried to sell on Eth but now going to try my luck with Solana. I would love to be able to support other photographers in the NFT space and would definitely love to get one of yours but gota make me some Eth first lol.
Best of luck!! Hope it all works out for you, Sol may be a great plan because the cost of entry is lower for people.. but I have no idea haha
@@RanftEvan I’ll keep you posted 👊🏻
I noticed what really seems to sell for NFTs is the weird multiple cartoons not really unique art.
I think they still have potential but they are not there yet.
And I agree with the royalties concept. They do it for films and music so why not photography.
Right now, people are getting a little obnoxious with promoting their NFTs. That turns me off very quickly.
To edit (got to answer when the customer calls): I did set up an NFT account but after watching others, decided to never launch for sale. It's not a side hustle and that is really what I was looking for.
Feel you on that, hope you find that side hustle that works! Thanks for watching!
At least you did it by yourself and decided to drop it. My dad requested me to relinquish some of my pics so he could try out uploading stuff (and thought it'd be good for me to maybe earn some money? Don't blame him, he's okay and curious and wanted to try out stuff, I only wish I could have said no)
Ps: sorry for ranting on you, random and surely kind and gentle person
Great video. Appreciate the honesty. I was actually hoping that your project would succeed and be something different in the space. Wishing you all the best. I'm still not sold on NFTs. I can comprehend the value, but I'm not interested in "playing the game" either.
Feel you. Thanks for watching!
I’m old school but NFTs seem scammy to me 🤷🏻♂️
Fair thought to have!
Damn you really put your soul in it 😍
Your photographs look great, but I think they are not well suited for NFT's because they look so distinct from each other.
It’s essentially a new cottage industry of the “Art World” that will eventually compete directly with the “Art World” and traditional art in general. Most of the social quirks line-up almost 1:1 with art world quirks.
Personally, I would suggest creating a separate pseudonym and building an NFT bases around that, ultimately it’s your skill and taste that will attract NFT collectors and that doesn’t change regardless of name.
Someone in my town took there parents old Kodachrome film slides and turned them into a nft and called it the last time we were young and I thought that was really interesting nft project
That sounds dope!!
I feel like there's tons of potential for NFTs in the future, it just needs to develop past the early stages
NFT? Still don't know what it is. Even google couldn't tell me.
No, this was bad idea from the beginning. The physical print idea is great but photography has become so common its no longer really unique. Good Luck in the future projects.
Love the video mate, having been in the NFT space for some time now I think hit the nail on the head. A large time commitment & It's 100% more community-focused than actually selling the work. If you were to take another go at it, Id recommends just listing to twitter space, get to know the photographers/artists/ art lovers/ collectors then go from there.
Ehh idk I wanted to experiment with it but I’d rather just serve the community I have here and let the people all in do the NFT community stuff. Thanks for watching!
@@RanftEvan NFT community is an oxymoron imo ;)
I think you're right about why your NFTs failed, because everything you showed about your project was very solid. I hope you try again in the future.
What happened to your studio?
I suppose most NFT projects will fail, like in the early Internet days, a lot of those startups failed. I like the idea of NFTs as well but they seem very risky. I suppose if one has the money to start a collection then go for it! The prints look amazing by the way - rad photos! Tx for the video too.
Yeah I’ve heard Gary vee say this! Sound way of thinking!
It’s nice to back here 🤟
🙏🙏🙏
So, the nft project is finished? What will be the action plan now?
Most likely give the ETH back for the single sale I had and then lost the prints in my site. We will see!
YOUR PARENTS HOUSE IS AMAZING
NFTs are 100% a scam. Go watch Unfolding Ideas video on them.
Will do!
Some creators now seem more interested in pushing NFTs than creating new content, which is both a shame and really irritating.
Fair assessment of why people dislike them!
So I read in a book the other day that fine art was a way for the wealthy to create another currency. And it completely changed the way I looked at art collection.
The way NFTs are currently being executed is a digital version of that. So it's really all based on perception (or hype may be a better word).
So you trying to create real value with physical products is probably the wrong move at this stage. The real game is to drum up enough hype like a Mona Lisa so it can sell for more.
I think long term the application of NFTs will be the royalties aspect that you mentioned. So artist of all types will get paid the same way musicians get paid royalties, just on a way bigger and more efficient scale.
Sidenote: if you ever willing to linkup for a collab in Atlanta lemme know ✌🏽
Yeah this is very very apparent!
The similarity between what you've done and learned and how I approached the NFT space and what I ended up learning are quite similar. This is an excellent breakdown.
I’m happy you were open with us !! Honest creator
🙏🙏🙏
Great explanation why NFTs are not for everyone! It really takes courage to show your audience something that didn’t work out. Most of the time creators only show the stuff that made them lots of money. That’s why I continue to go back yo your content Evan! Are you going to continue to sell NFTs or complete abandon the idea?
I think I’m going to scrap the idea! Return the one sale and then put the prints on my site. Still deciding tho!
I don’t think NFT are going to stay as the sales got down with 90% since last autumn, probably because people doesn’t understand the idea of it.
Very possible!
NFTs are super complicated and I definitely don't get it. I don't get why people want to buy gifs or jpegs. I'd rather buy a large print and display it.
That’s funny. I’m introverted and prefer to have social media friends over in person friends. Although I really don’t have any in person photography friends. Probably would like that.
Haha see I just have a hard time connecting with people if I don’t actually meet them, But I totally get what you’re saying also!
Now, upon seeing this video and hearing your thoughts on the matter I feel as if I am more interested in buying into this. Also I didn't know you were doing this till right now. But I would stick with it and restart the project at a later date. I myself will now keep an eye out for it.
Great video. Been following for a long time. I think NFTs are new and need some time to get better known. Gary Vee is killing it in the NFT arena. Keep at it, brother! More importantly… Go Bucs!!!
You still keep me motivated to make photos. Often when I’m out here in Savannah I feel discouraged and afraid to put the camera up for a shot. Then, I remember your videos and the things you’ve done and I suddenly feel better.
If only
I'm confused by the proposition. With so many NFTs and also many excellent photographers out there why would anyone expect an increase in the value for this photographer's work? You would have to believe that owning his work specifically is going to be more valuable in the future. Just given the numbers, this is unlikely.
NFTs will probably find some sort of utility long term but recent events look like a fad that is now fading quickly.
The general idea behind NFTs is pretty dope. The technology too in a way. But the way it's pushed, the way some morons are calling people "normies" and all not so much. If it's THAT great.... Do you really have to spend that much time telling people it's that good?
I stay very far away from that. The cryptobros and NFT ponzy pushers can go to hell, they are harming a lot of average people.
It's also a bear market and everything is down.
Personally I am not a fan of crypto or NFT’s. NFT’s particularly seem like a very silly idea!
I’m not savvy on the whole NFT thing, don’t really understand it. I’m more of a physical print person anyway. Sorry to hear that the Roadmap failed but at least you are seeing the lesson from it and passing it along to others.
It’s ok! Like I said a big part of it was to just learn and see what happened! It’s fun to explore new things
cool video
As warren buffet says: never buy stock that you don’t understand. I think it’s a similar principle with NFTs - a lot of people hear the name and just think nah
Smart comment!
This may be your best video. Keep pushing the limits and teaching us what you learn!
Thank you!!
Don’t let it get to you, about 90-95% NFT’s are literally meant to fail. It’s great you added physical value because some crypto gurus just add all NFT’s with not any real value physically which won’t let the buyer feel special or some sort of gratitude. I never got into selling NFT’s however with photography I create what I now call Digi-Mags which is short for digital magazines and let fashion/clothing brands & models use them
Sorry about the flop. I think NFTs will be around in the long haul. But for me it seems as though they are priced too expensive vs traditional photography routes such as books, art show, etc. I’ll drop $100 on a book easy, I’ll buy a physical print to hang in my house for $500 and not think twice, but I balked at purchasing one of your NFTs, 1. Because I don’t have a crypto wallet…yet... 2. We’re in an economic downturn. 3. It’s novel and there’s risk involved, at least from my perspective, and that’s the biggest factor. Your idea sounds bulletproof. Hopefully my thoughts as a consumer can help. But again, like you said, I’m more a ‘non traditional fish’. My advise for everything… Karate this side of road good, karate that side of road good, karate middle of road, so-so, squish just like a grape… lol Best of luck hope the running is going great! Peach tree this year?
Yep! Peach tree for sure! And it’s all good, was an experiment. Haha I knew if it failed I’d at least get a good TH-cam title out of it!
The big difference is the art world is people with money, looking to secure, bank and invest money in a tax free way. The NFT market is people who want money and are looking for a quick method. As most sales people know, you cant make a $5 client into a $5000 client. The art world has client qualification. The NFT market is essentially the $5 client hoping to make $5000.
I mean.. I didn’t say that haha but the logic is sound 😬
@@RanftEvan You didn't have to say it. You can see it in NFT'ers eyes. If you understand how the fine art world works and why people invest in it, you can see how the NFT market doesn't have that same core principle. The value of the art is based on rarity. Much like, thousands of pieces are created daily, but only 0.0000001% make it to the A+++ grade. Those pieces are created over the life time of dedicated practioniers. They weren't created by individuals with a working knowledge of illustration software. Thats where it comes undone. The market become too saturated and devalues everyone's work, apart from those who have developed something truly exceptional, which is especially hard to do when you've only got the one medium to work with. Think of all the graffiti you have seen in your life..now how many Harrings and banksy has the world seen? just 2..that's how exceptional you have to be for any piece of art to become that valuable.
☺️
Thanks for watching!
NTFs are not for causals it’s too much trouble an techie to get into, the platform is for crypto’s this is their lane
First I like to say I love the idea of actually providing a actual item to hold in your hand. NFT’s obviously don’t let you “hold” a actual item. But the biggest problem is and NO one talks about is simply anyone can take your work, from websites, instagram basically anything digital then make a NFT from someone’s else’s art! So keep that in mind.
Basically they all thought they were going to become millionaires overnight with this nonsense. Just because something is on a blockchain doesn't make it legitimate or trustworthy. There was so much theft of artwork it was insane. A lot of these platforms were eventually forced to shut down due to the number of lawsuits.
Another great insight Evan. To be honest, I think NFTs will remain, but I'm thinking it will take generations and decades to go mainstream. Personally it's not for me, but perhaps I don't really get it.
Having been involved in crypto since 2017 I can say that unfortunately people don’t care about utility or quality. It’s all about hype and profit unfortunately. That said once the craze dies down and the cost of minting becomes more affordable, these kinds of ideas will just become the standard of how selling art works
Why is a ‘work of art’ more worthy of a future commission more than a car? There is no guarantee that the photo print is unique nor how many have been printed. Art gains value from its uniqueness, not from its content. It also needs at least one person to be interested enough to buy it. No groupies, no buyers. Doesn’t matter how much effort or skill you put into the ‘art’. Also the groupies have to be willing to spend the money. And the market can’t be saturated. It helps to have a super salesman to promote your work. Find out the truth by trying to sell your work at a flea market and see how few people want to spend their money.
🤷♂️🤷♂️🤷♂️
Evan I saw your NFT project and I wanted to jump on one of the pieces but just didn’t have the money to put into ETH! Sorry your project was a flop!
It’s all good! Got a good TH-cam video out of it 💪
Are you really moving back in with your parents ?
I’m only two minutes into this video, and I’m already against NFT’s!
1. I don’t want to be tracked by the artist. There are already systems of tracking the legitimacy of a piece of art.
And 2: who the HELL is the artist to think he has a right to a cut of my investment if I resell it! I’m sitting here trying to think of any other type of investment where I buy something and have to give the original seller a cut if I resell. That’s some brazen crap right there!
These are scams par excellence. When Ferrari sells you a car that car then belongs to you. You paid $150,000. Just because 20 years later that car increased in value and you sold it at $1,000,000 that doesn't give Ferrari any rates to get a percentage of the sales price. Ferrari sold it for $150K and that ended the Ferrari transaction. All other aspects were at the risk of the buyer. Why do you think that art is any different. If you are tracking art only for its investment value then once you sold that piece of art at whatever price you established, you have no more right to any increases in value of that sale than Ferrari does when it sells its cars. Any other approach is just a way to steal money from the system. If you want to hold your art because you think it will increase in value for future sales then that is fine. You hold it and then can make a profit off of holding it. Once you sell it, you sold it and have NO, NO, NO future rights.
Really like your stuff man. If ya gonna wear hot pants get some more tattoos on your upper leg or else it kinda looks pornographic.
Your premise is good in practice but flawed because NFTs are built on centralized pre-mined shitcoins like Ethereum that won't hold their value over time and are just like central banks where a small group of people who hold the largest amount of the supply can just print more out of thin air, change the rules whenever they want to, and dilute the value for everyone else.. just like fiat money. Bitcoin is the only truly de-centralized, censorship resistant money and store of value. If your NFTs were built on Bitcoin sure, but otherwise you're just setting yourself up for failure
Ethereum is deflationary and no one is "printing more out of thin air" like fiat