Kings of Leon to offer new album as a non-fungible token

[holy scheisse 20,310]

20 minutes ago, NewUsername said:

https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq

My question was can't I just screenshot the digital art and I own it for free, so what's the point in buying it? And this article appealed to my brain bc they address that directly lmao 

It seems like it's just a way for rich people to flex/invest in things that may or may not pay off in the end? Still dgi 

[Teletubby 117,445]

5 minutes ago, holy scheisse said:

It seems like it's just a way for rich people to flex/invest in things that may or may not pay off in the end? Still dgi 

money laundering for rich

[alsemanche 87,356]

Okay I just read about it and this has got to be the most useless thing ever  

[likeitrough 5,651]

39 minutes ago, whoresup said:

I don’t understand what this means.

Can someone explain 

 

36 minutes ago, KEVIN STEVE said:

What is fungible, what is cryptocurrency, WHAT IS THIS 

it's hard to grasp for me also but I read this little thing the other day that tried explaining it with a metaphor:

there's only 1 Mona Lisa painting. sure you can go to the Louvre and take a photo of the painting but that photo won't be worth what the actual Mona Lisa painting is worth. 

now imagine a digital version of the painting. it can be copied, screenshot or shared between friends but there'll only be 1 original file; a NFT (non-fungible token) worth money. 

[alsemanche 87,356]

4 minutes ago, likeitrough said:

 

it's hard to grasp for me also but I read this little thing the other day that tried explaining it with a metaphor:

there's only 1 Mona Lisa painting. sure you can go to the Louvre and take a photo of the painting but that photo won't be worth what the actual Mona Lisa painting is worth. 

now imagine a digital version of the painting. it can be copied, screenshot or shared between friends but there'll only be 1 original file; a NFT (non-fungible token) worth money. 

Yeah this is basically it. It's like selling original artworks but digitally. Basically rich people stuff lmao

Actually, not just rich people. I'm fine with small artists doing this but rich people selling stuff to get richer is just....

[ZiggyZiggs 29,846]

14 minutes ago, holy scheisse said:

My question was can't I just screenshot the digital art and I own it for free, so what's the point in buying it? And this article appealed to my brain bc they address that directly lmao 

It seems like it's just a way for rich people to flex/invest in things that may or may not pay off in the end? Still dgi 

See but that’s the thing you don’t own it. You just have a screenshot. Now if you try to sell that screenshot you can get sued. That’s the whole point. Ownership.

[Andreu 37,216]

hope it tanks idc

just so it doesn't become the norm

[Teletubby 117,445]

11 minutes ago, likeitrough said:

now imagine a digital version of the painting. it can be copied, screenshot or shared between friends but there'll only be 1 original file; a NFT (non-fungible token) worth money. 

but NFT are often sell in more than just one copy. Kings of Leon are selling 1000 qty of each of their logos.

[likeitrough 5,651]

5 minutes ago, 777777777777777777 said:

but NFT are often sell in more than just one copy. Kings of Leon are selling 1000 qty of each of their logos.

it was just an example. there's only 1 Mona Lisa 

Spoiler

 

 

[Dante 878]

14 minutes ago, likeitrough said:

it was just an example. there's only 1 Mona Lisa 

  Hide contents

 

 

erm...

 

[holy scheisse 20,310]

59 minutes ago, ZiggyZiggs said:

See but that’s the thing you don’t own it. You just have a screenshot. Now if you try to sell that screenshot you can get sued. That’s the whole point. Ownership.

Right so it's just about investing

[ZiggyZiggs 29,846]

17 minutes ago, holy scheisse said:

Right so it's just about investing

Yep basically. Just how all these labels own an artist’s masters. Some of them are selling it back to the artist/ other folk for a **** ton of money. Take scooter Braun/ Taylor controversy. He bought her masters and he owned it hoping for a huge return in future streams etc. Same thing here. It’s all about ownership.

I read another story about a guy who bought a digital art featuring trump for like $70K and then sold it for $6 mil.

[Leblanc 2,246]

Honestly this is gunna blow up even more, it's just a matter of time, I kinda didn't see it happening this quick.

Makes me wanna invest more in crypto, there's a chance for regular people to make lots of money. I just hope it doesn't become a pawn for the rich.