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Melodicmarc t1_j1vet7r wrote

Reply to comment by Destructopoo in art future by nickmakr

Okay let’s make sure we have the same understanding of what an NFT is here. My understanding is an NFT is essentially a digital signature to show ownership of a digital image? Is that correct? If that is the case, then I don’t see why physical art would hold any more value than digital art? Maybe that’s what we should be discussing.

I was not trying to downplay the value of art. There is a bunch of beauty in art. But also a lot of art is a big scam by rich people. Watch this video:

https://youtube.com/watch?v=ZZ3F3zWiEmc&si=EnSIkaIECMiOmarE

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Destructopoo t1_j1vjb2t wrote

NFTs are the digital signature themselves. They are tokens and the images are a place holder. There is a line of code which an algorithm uses to generate an image and inversely, an image has a unique line of code associated with it. Ever pixel has a numerical value. Imagine I made an nft line that was a 4 by 4 grid. The format is [Blockchainsecurity][0000000011110000][gibberish] and my platform draws you a blank grid with a horizontal line 1/4 of the way up. You own the code. My website makes it a picture. An nft differs from crypto in that there's an image gimmick.

Art isn't a rich people scam. It's art. Do you think houses are a rich people scam? The proportion of houses that are commodified and exploited by the rich is far more than the proportion of art which is commodofied and exploited.

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Melodicmarc t1_j1vmvaw wrote

So the intent of NFT's are used to show ownership of the original digital image right? Just as a signature by the original painter on a piece of art shows they created it? I think a digital signature of ownership of a digital image is a valuable. I think the scam of buying and selling NFTs like they are stocks is incredibly dumb. FYI this is where I am getting my information from: https://www.youtube.com/watch?v=NNQLJcJEzv0

You're correct in that art in itself isn't a scam. Art is great, and only a small portion is used as a scam by the very rich to inflate value and launder money, which that video goes into detail about. Which is why I thought NFT's was a good comparison to that. Comparing art to houses is a bad comparison, because once again houses hold actual value in materials and owning a piece of land. Value in art is based entirely off what humans perceive it to be. A painting won't get you far on a cold winter night, but a house will.

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Destructopoo t1_j1y0w2w wrote

That's not the intent. It's the selling point. NFTs do not show digital ownership of art. The art is a representation of the code. You do not own the art nor do you have any rights to it with the NFT.

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