The Chaos of NFTs [Art Thoughts]
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- Опубліковано 17 бер 2021
- Thank you to Audible for sponsoring this video! New Audible members get a 30-day free trial. Visit audible.com/sinix or text "sinix" to 500 500 to try Audible today!
It's time to share my thoughts on NFTs, as well as some ponderings on the nature of the Tool song, Lateralus, and how it relates to Pikachu??
Quick reminder, "Art Thoughts" is just a casual video series for rambling on about weird art stuff and fringe topics of the art world.
!! the usual links !!
Instagram is @sinixdesign
Twitch streams: / sinixdesign
Visit my patreon at: / sinix
Listen to my Spotify drawing mix: open.spotify.com/playlist/17t...
Stop by my public Discord!! / discord
#nft #nftart #lateralus
![Why is Green the Worst Color? [Art Thoughts]](http://i.ytimg.com/vi/SqL5wN74Mss/mqdefault.jpg)
![Why is Green the Worst Color? [Art Thoughts]](/img/tr.png)
Oops, forgot my standard disclaimer comment for all of the insecure capitalists:
Artists understand the importance of critiques, right? Try to apply that same mentality toward societal/financial concepts. Pointing out flaws in an art piece doesn't mean you hate art and don't want it to exist. For the foreseeable future, I'm just trying to direct people toward a better form of capitalism. We certainly aren't at a stage in societal evolution where we could do away with it. That would require technological breakthroughs that are still far off. For now, stop treating the current capitalist conditions as "muh style". Let's get better at these things instead.
Yet you participate in capitalism. Curious!
@@Pejtson kinda impossible not to. unless you live in north korea or some other shit country
@@stuckfart it's a communist meme, they were being sarcastic.
Very well said! Let's strive for the best we can be
@@n0v3mb3r7 ah, i see. thank you for informing me
it’s a good month to be a sinix fan
its always a good month to be a sinix fan :)
I know some artists find NFTs a positive thing but the more I search about it the more it looks like its main goal is another way to continue benefit already established rich businesses and people
It's all a big scam, yes
Nft is like high art museums but digital, created by rich people for rich people
Yup, and it's the sign that digital art stars to be an interesting investment which lead to enrich artists 😁
And like everything there is good sides abd bad sides. Beign conscious of both means we can take better decisions
And maybe develop better things for the future
to see only the bad sides is to be as blind as to see only the good ones
@@sekiki96
Did you really need 4 posts for that? You clearly know where the edit button is.
TOOL
THREE BODY PROBLEM
NAME OF THE WIND
The holy triforce of things I love.
Patrick Rothfus is a freaking power house. He's got such amazing vivid perspectives that bring so much depth to his stories!
TOOL has peaked my interest lemme go listen to them
Damn, every artist I'm watching are fans of Tool, that's dope
Wait...Ahmed likes Tool? But for real, 3 Body Problem is something I haven't stopped thinking about since listening to the audiobooks, especially The Dark Forest. Would love to see SINIX or Ahmed's take on the character Sophon.
The book? With Kote? I have not yet finished reading it...
Sinix can literally curse you out like a sailor and still sound like the nicest person ever.
I was very excited to get into NFT art and then I realized a big artist I followed would only make money from it when one of his other rich friends would buy his stuff. His last piece he released went untouched for weeks until again, one of his rich friends bought it. Then I went down the rabbit hole of seeing if other big artists did the same thing. *They all do it.* It just all seems very sketchy. I'll stick to freelancing.
I had the same feeling. I follow one big artist who made an nft but didn't promote it other than casually say it in an insta story. He didn't even gave a link to it, but I found it and - untouched. Seems like he just wanted to test it out if this is legit. People comission him for thousand per work, but the nft's still there waiting. And then there are unknown people with simple AI generated art who make multiple sales a day, each in the thousands. The difference? One has a following in the art industry, the other has a following in the crypto industry. These crypto speculants don't care about art, one of them sold simple red squares and top comments on his yt videos for fun (for hundreds btw) 🤡
@@minniethriver If you're just an artist trying to make a living, why would you care about WHY someone wants to buy your art?
@@arvid1190 Like most businesses I'm interested in peoples wants, needs and whys, so I can adapt. But in the end, I personally don't care if they bought a piece to hang it up their wall or to to shove it in their mouths or whatever
Translation: you'll stick to being broke. 😑
@@minniethriver Exactly - which is why i don't mind selling art to techbros who dont give a shit about the artistic qality. The only argument against NFTs that makes sense in the context of campitalism is the environmental one.
No matter how many times people try to explain NFTs to me I don’t think I’ll ever understand lol.
“Look at this image of Elon musk on a doge that I bought for $1,000,000!!1!1!!”
Cool. **screenshots** I have it now too.
You can get a copy of the Mona Lisa too, doesn't mean you own the Mona Lisa...Also you can get a commission from an artist with no exclusive rights, meaning anybody can just download the .jpg/.png whatever. Does that mean you shouldn't commission art in this manner ever too?
@@DMitsukirules sinix said that you don't actually get a certificate of ownership of the NFT art you bought for millions, that means it doesn't make NFT stuff unique at all. While commissions are evidently custom made. Come on, man
@@DMitsukirules Well yeah. Because DaVinci only painted one Mona Lisa (technically more, but only one is hanging in the Louvre), the brush strokes and hues can’t be replicated. Someone can sure try, but it won’t be the same. But if I were to download the hypothetical Elon-Doge-Monstrosity image it would essentially be the same product as the guy who paid a million dollars for it. None of us technically *own* it either because he wasn’t handed the rights. But we both have it and can use it for the same limited purposes. I guess he can show off how much money he can throw around, though.
Commissions are personalized. There’s *personal value*, that artwork exists because of you. You commission people so they can draw/create something catered to you. If the possibility of someone downloading the art decreases its value for some reason... that’s on you.
This is dumb. It’s all about greed. I just want to return to monke
@@limb-o7180 For a buyer, they provide a secure certificate of ownership over a digital object, protecting the good’s value. The internet makes it easy to duplicate and forge something, and without an indisputable ownership record such as an NFT, the good is essentially worthless.
For a seller, NFTs make it not only possible to sell something today, but also to keep earning tomorrow. Artists in particular have historically struggled to reap rewards if their work appreciates in value. NFTs can be coded to allow the original creator to collect money each time the token trades hands, usually for between 2.5% to 10% of the sale price. The ability to set up a recurring revenue stream appeals to any famous person looking to extend their fame’s earning potential. For example, UA-cam star Logan Paul sold $5 million worth of his own NFT-a cartoon image of himself styled as a Pokémon trainer-last weekend.
@@DMitsukirules yes, the file itself is never truly unique. Its impossible to make digital art unique in the way that physical art is, but its the closest we can get. I think the concept of digital art becoming more valuable is great, the actual method needs a lot of improvement though.
"We shoudnt blame artists" oh no no no no I very much can. Because like you said , the value of NTFs is mostly based on it's popularity. Artist that take parts in it actively promotes it and encourage it. And not any artist , extremely popular and recognize artist. People who already make a living of their art.
I am very much blaming those people
Exactly! These people are making these decisions in their own free will, mostly insanely popular artists, that are already making quite a living off of their art. This all sounds extremely greedy and just dangerous to the environment. It’s like they are trying to sweep it up under the rug.
"Wowee nfts are a great and accessible way for all artists to make money"
Says established industry AAA artist/director with tens of thousands of followers that got an exclusive invite to (insert nft platform) that is invite only and costs to mint and upload a piece and hope it breaks even.
Ah yes, so revolutionary for anyone not within that top percentage...
I really think the tech behind NFT's should be open source and you should only really pay gas fees for usage.
I'm guessing you've never peeked behind the curtain of the art world...
Galleries are the same way. The only value art has is what someone is willing to pay for it, and with the internet and cameras in everyone's packet, a beautiful one of a kind imagine that moves you to such a degree is now largely worthless unless others who are wealthy have purchased it as the collectors of your work are what dictates the value of it.
Making something that takes 40 hours vs 1 hour, but the 40 hour one only appeals to those who can afford $10-$200 with the 1 hour one appealing to those who can afford $40k means the one that took longer is worth less than the one which took less time. This is true for *every* good produced. What people are willing to pay along with what it cost to create will dictate how the market continues.
@@razor191919 trust me I'm aware oh how gross a lot of the practices in the fine art world can be. I wasn't really touching on that or perceived value (though we can always look at people like damien hirst buying their own work and trying to control said value work to exploit a flawed system. You aren't entirely wrong but that wasn't really the point I was trying to make and it feels like another discussion.
The point of the comment wasn't talking about previewed value and more a jab I was making at people selling the idea of nfts being a golden ticket for artists to get in on when in reality there's barriers and risks involved and its only really benefiting those top big names artists with clout like Sinix was saying.
It's this and a lot of other factors that people are reluctant to actually talk about or just up not talking about which is making a lot of people angry will artists that push nfts aren't being transparent.
Wowee....total ignorance of how these platforms work. 🙄
@@rockon8174 hope you're managing to cope with all your little emojis in half the comments loser.
Imagine thinking you have the "original" or whatever, when the artist never gave you the PSD (or whatever your wip file extension may be).
Is it not truly owned by you unless you, and you alone. Are the proud and sole bearer of 'finalfinalFINALforreal.psd'?
@@Lemonpeppergoblin Fuck, that was way too relatable xddd
What if someone paints in one layer though? Then .psd content is identical to .png.
Also having a .psd doesn't mean you have "the original" (other people might have the same copy) or that you "own" it. There is this artist David Revoy whose comic episodes Pepper & Carrot are always available as .kra files (basically .pd but for Krita), and you don't own it if you download (because it's CC-BY) and it's not really "and original"... and for sure not unique since everyone can download it.
@@tymondabrowski12 no offence but I'm so numb on the nft discussion at this point and I legit can't tell wether or not this is satire.
@@tymondabrowski12 Oh, for sure. I feel like that increases the ridiculousness of some aspects of the situation at hand.
You'd have the "original" that is tokenized, although there's not really anything about it that makes it any more original unless the people around you are in on it, no?
It's just buying bragging rights and at that point, who really cares.
Also, Tom's original reply was hilarious.
Was gonna sell some art as nft but my pyramid scheme sense started tingling.
-The friend of an amway seller.
Nah, that was your stupidity kicked in. 😑
@@rockon8174 You planning to get into the NFT scene?
@@brook_river already in it. 😎
The main problem is the only people that are benefiting from this are well established prominent artists, and while they are getting rich, they are drawing lots of artists that won’t be earning shit, but they’ve already paid good money to be a part from that, money that probably won’t get back. And avoiding to talk about this huge and inevitable risk is disingenous and harmful. Also, I’m pretty sure that the content of the artwork is irrelevant: people buying art are just there to speculate, mostly, to hype things up and sell those pieces for more later. I don’t believe for a second the artists are gaining significant recognition, nor this will mean a global upgrade in art workers treatment and labour rights. The professionals claiming that this will solve the lack of wellbeing in the arts workplace are not being realistic, if not lying. This issue won’t be solve by jumping into a pyramid scheme built around cryptocurrency speculation, it’ll be solve by unionizing and working organization around every art field, making a global statement that is supported by the referents of the industry, the same ones that are the perpetrators of this nonsense. We should be working towards better rights for the workers, not for the small chance of getting rich via scamming other people while the broad majority are struggling with non-fair salaries and opportunities.
I wish I could upvote you more than once.
@@BombaJead Thanks man! Honestly I’m not usually out here in social media writing essays about how doomed we are, but damn, I’m really scared of what’s happening right now and how fucked up our future is if we don’t do something quickly.
It's hard to claim that artists are not gaining recognition, when the ammount of people who knew beeple before and after the nft craze is probably Quite different. The value added to owning a digital piece, while arbitrary, still brings more prestige from society's point of view, which in turn might slightly shift the notion that digital art is fake/not art.
I'm not sure how small artists loosing money is any different to a regular person making an investment in stocks or a business. It's risk/reward. Especially with something as volatile as nfts or crypto. This is basically the same as buying a train ticket and renting a spot at a fair, hoping to sell your work in the olde days. Might work out, might not. And more fame/influence=more money. This has always been true in art. The only way this is different is that the succesfull artists are making sums of money previously unheard of in digital art. Which doesn't sound bad either.
I honestly think beeple and a a few other top 1% artists will get fame/recognition from this. This is a Rich get richer scheme and it’s a huge cost to the environment with how much power the NFT block chain uses!
@@auqifx Many in the industry are giving their back to the NFT madness with good reasons. I don't think that participating in this scheme and gaining lots of money from crypto speculators that are not interested in the art itself is a good look or a significant recognition of their work, they know it. They want to earn what they think they deserve, and I agree with them in the sense that being a digital artists is not an easy job and it's broadly despised. The majority of the art community can't (and doesn't want to) participate in this shady bussiness, and it's alienating the artists from their reality and their colleagues. They were already prominent figures in the space(mostly), they were already being praised by the people who loved their art. The issue is that their economic compensation as digital artists was never coming close to what a fine arts artist could have, and I don't believe that the people who thought digital art was fake are now turning into digital art praisers, they just are astonished by the money they've been doing.
That said, the problem here is not about the recognition of digital art being art itself, atleast I don't think so, but the money they can make doing what they do: it's about how digital art labour is underestimated globally. And I believe that dragging thousands of artists into a cryptoscam while you earn lots of (fake) money is a temporary solution that won't bring anything good long term. I honestly am surprised of seeing that even the top artists in the industry can renounce their principles for this kind of money, and I don't blame them: they've been mistreated for ages, and this chance is really tempting, I get it. That said, how long will it last, and what will be the aftermath if we do not propose a healthier way out?
That said, now that this paradigm is on the table, let's discuss how we can solve the true problems of art workers, this is a great opportunity that we have and I am afraid of what will happen if this discussion is not done.
And about the gambling stuff, come on, it's not even close. In an event, you can make contacts, meet new people, and it's mainly accessible to everyone interested in art. I get that there'll be always a risk, but you know the majority of people won't make a dime out of cryptoart. And many artists have been really enthusiastic about it, which is the main issue I have with them, that they do not acknowledge the dangers of NFTs, and are overlooked in favour of dragging more people and their money into growing this currency and inflating crypto speculators pockets.
I foresee the NFT thing making it even harder for younger and beginner artist to break into this industry and sell work on line. Kind of like how Insta and twitters algorithm practically cripple the exposure of smaller creators in favor of giant accounts. and where there is money to be made there are thieves ready and willing to steal it and corporate entities ready to suck it all up for themselves.
Tool fans be exited, also it's great to know you love them too
Khm.
TOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL
Now that that's out of the way, yeah. 100% agree. It's kinda rare to see tool, all the better when we do.
It just feels like money laundering...
Just like the ser galeries scene
Why even buy the NFT then when you could just buy a coin?
@@DMitsukirules why buy an nft when you can just copy it and tokenize it?
@@skittlecornnation4323 because in a far future where I have VR gallery that displays only verified NFTs they would have more value . Or using NFTs in an online game. NFTs are proof that an item comes from a trusted source. So even if you are not a big name artist, making NFT of your art can be valuable in proving that art is truly yours .
Of course there would probably be scams and people trying to take ownership of something that isn't theirs to begin with but that is all the more reason to put your art in an NFT before anyone else does.
Art galleries are just money laundering operations
One thing that super bugged me was a major traditional artist putting up multiple of a piece for auction on an NFT site. Like, with digital art, you’re already adding a perceived one of a kind value to a digital object, but the auction was digital copies of a pretty sizable PHYSICAL object. It’s even less of a special item because they aren’t even buying the physical painting that took however many hours, but instead a high resolution digital version of that object. I think that’s when it leaves the sour of a taste in my mouth.
That's because people think they're gonna get rich quick by investing in nft's, the example you gave perfectly explains why this is a bubble right now (digital nft has a higher price while the physical piece is more valuable). This bubble will burst soon, but after that, nft's will have a lot of real potential.
@@mihailomiljanovic7393 copyrighting original works on the blockchain must be the future. Or else artists keep getting stolen from all over again.
@@endo4682 but some people already steal artworks or sell nft for "urls with artwork" and the original artist gets nothing
What do you care? You're not the one buying it. So leave it. 😐
@@tymondabrowski12 the artist needs to do it first.
I am absolutely loving this frequent posting lately
I got a bid for my work. Super small $10 but in order to “transfer the art” it would cost $60 in network fees. So I’d wind up paying $50 to “sell” the art
That's because NFTs are a form of pyramid scheme. They make you buy into the scheme in promise of high returns, but in the end you'll lose money
It also uses an insane amount of electricity I just posted about this!
There is a technical reason for that and it's more a criticism of Ethereum than NFT's.
That is because Ethereum , the blockchain NFTs currently run on , is in high demand and still has insane gas prices . These gas prices are expected to go down in the near future as proof of stake would be implemented .or alternatively : another proof of stake blockchain like Cardano might implement support for NFTs once its smart contract functionality matures.
TLDR: its just short term fear uncertainty and doubt, this problem will disappear in the near future.
but you do know 60 bucks network fee is just 1 time. after that u dont need to pay when you want to sell more.
almost clicked with apprehension, but I never should have doubted. sinix you're a real one :'))
as a young digital artist i got so excited for nfts until i heard how harmful they can be for the environment 😭
There's worse things than that
It’s not only the environment but it’s basically a pyramid scheme
yeah crypto is bad for the environment in general which worries me because of how much they're growing
@@estebanr457 only in the sense that the entire economy that runs off debt is... it's not an actual pyramid scheme.
@@tomfoolery2913 same! it’s really interesting honestly haha
Really good thoughts on the topic. thank you Sinix for this amazing video!
I reaaaaaally adore your energy as a person, starting from the way you talk - so calm and soothing - to just your wisdom. Thanks for having a take on NFTs or whatevs that finally makes sense to me xD
omg so many new vids in such a short period of time... yes!! thanks for talking about this, i was curious of nfts
Ive never stopped listening to TooL
I always appreciate your voice of reason Sinix. I hope more people heed your words instead of diving in head first.
Very good to see you have some integrity my man, much love
Thank you sinix! Very beautiful your new frequency here on youtube
This is the first SMART commentary I've seen on NFTs so far. Almost every other video is just praising it as this huge, groundbreaking change that will make a ton of small artists independently wealthy. It will not. But trying to explain that is like trying to convince a horse to wear a top hat. There are some potential positives that could come of NFTs EVENTUALLY, but we aren't there yet, and in it's current form, the negatives far outweigh the positives. And it quite literally is a scheme in its current form.
Really enjoying all the videos and this is a fun series!
Just as I was rewatching old Sinix content!
i have no idea what an nft is but thanks sinix, very cool
I like your pfp
@@morningrog1943 thanks lol it was a last resort
Who would've thought Sinix' social takes are even more enjoyable than his art stuff. I could listen to that all day and feel my faith in humanity being restored bit by bit. Thank you!
the Pikatchu in the Grey’s style 😄 lol nice conversation you sparked as always, I am also a Tool fan and Lateralus is my favorite song but I have never connected it with actual drawing process since I have started drawing quite late in my 20s, thanks for sparking up this conversation Sinix!
Love "The Name of The Wind" mention
Well said. I wanted to mention something though. A lot of artists I follow are trying to get into the scene because they have been promised money and success by seeing these other artists selling stuff, but they themselves are not selling anything (and they have some truly cool art!). Which obviously is bound to happen, but the problem is that a lot of these sites require you to pay a fee to post the work in the first place. A lot of artists are already struggling and may pay into this thinking that it will pay off but it seems like they are just being taken advantage of by another system.
I was actually for NFTs before finishing the video, but you have definitely swayed my opinion, because I realized nearly every NFT art piece I've seen is a jumbled mess of dogshit that sold for like $7000.
There has been insane speculation on houses before, do you not believe in houses?
@@DMitsukirules No, I'm saying NFT isn't looking impressive at all. It's a huge mess, and none of it really means anything.
"you're allowed to disagree with everything, and think i dont understand anything. we all feel that way about people we disagree with." -sinix
damn.
Great Video, Thank you for sharing your opinion in such a nice and calm way♥️
I didn't know you were into tool. Another reason Sinix is a cool teacher
The last 2 minutes are true gold 💗
Finally someone I trust will explain this??? Thank you 🥺🥺
Simplified explanation is you can make "originals" in digital art using the same tech as crypto now meaning that sweet money laundering/tax evasion revenue stream from the ultra rich also applies to digital artists.
What are you guys anticipating? How many months until the nft scehme gonna bursts?
Glad you share your opinions openly
Yesss this was a great breakdown of the nft situation, I was into it until I read about the environmental impact and decided definitively it wasn’t for me
I come with the juicy sauce about the knowledge of my dad and the reference of one of the art of Tool - lateralus if I don't make some mistake. Nice one the joke/rap with rapchu, was dope jajaja.
OMG YOU SAVE my month! I saw too much artist i loved start Nft just for the money and without thinking a single second abouth the impact it have on the environment! THAnk YOU!
Its not as bad for the environment as most people make it out to be. Selling prints or merch and shipping them worldwide actually has a bigger environmental impact, but theres never an outrage about that... Furthermore, there are NFTs based on crypto currency that only uses renewable energy as a power source, but unfortunately sinix never mentioned that
@@jldesign9268 uh I don't think a dying and overworked cpu is renewable energy
@@jldesign9268 a single piece of art being shipped does not use more energy than a single nft. This is factually wrong. Also things need to be shipped. Things don't need to solve arbitrary complex algorithms to mint a piece or verify its ownership to then be sent onto someone else consuming large amounts of electricity in the process. That's what nfts are. Also crypto is a tiny part of the world market so it's environmental impact next to overall industries is small, even tiny. Relative to its size however it is one of the most power hungry sectors in the world supposedly. If crypto was to become as big as other industries and used as much as Google or Netflix or agriculture or banks, it'd be so much more exponentially energy consuming than any of those that your mind would be blown. People are really out here acting like "crypto is only this tiny part, here's all other industry combined, see how small a piece it is?" Might as well say covid is nothing to worry about because it's such a tiny percentage overall of what kills people when you factor in every other possible way someone can die in the world. It's a complete logical fallicy.
You got me at the thumbnail.
i love how ethan just fades in and fades out
This made my whole day 🥰 Thank u
thank you for introducing me to that song :D very inspiring
Was listening to Tool as this video popped up. Good timing
The nicest guy (and calm) on youtube
Great post Sinix! Way to look at both sides regarding NFTs ! I personally am holding off until they can figure out the massive amount of power that is consumed per transaction! Yikes
this video is more like: "The Chaos of Sinix's Thought Process"
i agree with your nft thoughts, very well segmented :)
Thanks for the insight.
Finally someone really said what NFTs are all about. People either tend to skip the good parts when criticizing, or the bad parts if they like the stuff.
Leonard French did an interesting video on NFT's and copyright.
People are deluded because of Beeple's popularity though. They're not going to earn the same amount as him unless they're established artists. The advice now is to purchace art you like, the crappy meme-inspired NFT days are over and the bubble could burst any second like Bitcoin and SilkRoad back in the 2010's.
Man your videos are always fire
these hair are getting more luscious with every video
Thank you for clearing my mind about NFT. And crypto in general
THREE BODY PROBLEM IS SO GOOD
I havent met anyone else whos read them haha thats such great series
Thank you Sinix for taking a stand and letting us know! It is refreshing for a larger artist on this platform to not get sucked into the NFT stuff going on. Thank you again for being knowledgeable about the impact it has on the world and smaller artists.
I've seen a lot of information about the damage on environments but I'm still surprised that's not the only reason it's flawed!
I LOLd at the rainforest comment
Thanks for sharing Mr Sinix!
This. This is the video where I fell in love with sinix
i enjoying this Art Thoughts series
damn frequent uploads nice
I appreciate the Lateralus inspired thumbnail
I had a bit of a change of heart with NFTs. I had the realization NFTs actually have a lot of similarity to the commercial art world, first things a painting really has no value, only because other people say this painting is worth this much. As well you’ll see a Pablo Picasso or something sell for so much more then another artist who can make a painting of even a better quality because of name recognition, just like NFTs, the only thing separating NFTs and a painting is that one isn’t a physical object.
11:35 ahah you had me there
I know the Pikas fit
Cause I watched them fall away
That thumbnail is beautiful 😌 long live Lateralus Pikachu
Id like to hear more of your thoughts on why you think artists are under valued in society, what would it look like if they sufficiently valued, and what we can do about it.
So coming from someone who's deep in the crypto space and Ethereum specifically I just want to say we're very aware of the energy waste and are moving to a more sustainable and less wasteful consensus mechanism (that's just a fancy word for the network coming to agreement) called Proof of Stake. And we're already in the transition phase of moving to this. I always hear people critique this but its literally the top priority of the whole project at the time, along with scalability.
With due respect as someone who is pretty against nft as they currently are for a variety of reasons.
I've seen this point come up and aware of the differences between PoW/PoS for the most part. I get there are some like yourself aware of the issue and aiming to improve the platforms.
I think a big issue is lack of transparency in places and the high profile people being aware of the waste and handwaving the issue which is pissing a lot of people off.
My main point I want to ask though is I keep seeing people say that the energy issues are being resolved snd and fixes are just around the corner but I feel people have been saying that for a while. And the earliest dates I've seen thrown around to where its common on he major platforms won't be for another year or 2?
@@Lemonpeppergoblin Literally the whole Ethereum community, except for the miners are working towards PoS, there's no people in high places writing it off.
And yes it still some time off, hard to give a date for it exactly but my estimate is a year or two.
I don't understand why so many of you people are against the idea of NFT's though, this is literally the first time we are given virtual property rights.
Apart from the energy usage what is there not to like?
Do you want to live in a digital world where you own nothing, stuck in the walled gardens of massive companies?
Cosmetic items in video games, the movies and TV shows you watch on Netflix, the music you listen to on Spotify, as a consumer you spend all this money and end up having nothing. You can no longer trade your old CD's, or borrow your friend a video game because its not your property.
@@schilll my phrasing was poor in what I meant by 'people In high places' was largely applying to very high profile artists with clout as I'm largely coming from the art community perspective.
It's the big name artists generating hype for it while intentionally ignoring or downplaying the negative aspects and don't want to discuss the issues people have regarding the fomo scam concepts that Sinix rightly touches on here. And the fixes to energy usage are still some time away, people are unwilling to wait for the fixes because fomo and the money is here now.
Like, get in get paid whatever. The problem people have with the lack of transparency is these big names aren't giving disclaimers on the issues and risks involved and suckering people in on the idea of nfts and crypto being a golden ticket when there's more to it than that and there's risks involved.
I'm not against smaller artists getting paid, it's people noticing g the trend of the big names getting the bag whilst smaller artists all crawl over each other trying to get invites in hopes of getting much needed money and people are saying how its so easy.
I don't care for crypto but can see the allure, I don't even care people doing it so long as they aren't the type of accounts that just shill 24/7. I'm not against the idea of digital ownership nfts don't seem to really be it to me. Like Sinix is touching on its a concept of ownership you're buying. And while I'm not against what you're saying with digital property rights as things often get removed and delisted all the time there's no real ownership in theory.
And while not really getting into the topic of owning something tangible people don't really own the NFTs from my perspective. You have a unique minted number but there's no real concrete ownership in a digital space. People have reportedly stolen nfts from buyers. If its ownership that is the allure here you can commission digital art and still have ownership and the original files, hell a signed certificate to say it's yours.
I'm not against your points of wanting digital ownership but nfts just as a whole seem flawed to a lot of people.
I think one good application of NFTs would be in games. Like before you weren't able to have any real ownership of in-game items or virtual trading/collectible cards for games like Hearthstone. NFTs might be a solution to that as well as an automated way to pay out royalties to artists (like in the old TF2 Steam workshop). Not to mention you could easily make it cross platform, like you earn or buy an item in one game and can use it in another.
This doesn't work. You would need the game itself to actually have something applicable to use. If you buy a gun skin that is coded, UV wrapped etc. To fit a certain gun in that specific game and that is held in a marketplace or gallery for that specific game, you can't just translate that to another game if that previous game stops working. The second that game goes down or you lose access such as being banned, you lose the item you bought end of. The only way it could ever work between games is if two games had the exact same gun and code and agreed to allow it prior. On top of that, even if two companies agreed to allow crossovers for some reason they would both have to put in a fair bit of work to get one skin from one game working properly in the other. It just, it doesn't work how you imagine it to work
@@Jhakaro NFTs aren't the asset itself though, it's just the token that represents that X user has X thing. Doesn't matter how it's implemented, could be a completely different model (more than likely it would be). That's how NFT market places work atm, most tokens just point to a location on the marketplace server for their image/gif/video. That aside, most pipelines now use the PBR standard for models, shading and textures so it would definitely be possible to take one asset to directly translate it to another game- even more so when you consider majority of games now either use Unity or Unreal. But yes you are correct that each would need a little translation if there were animations or stats attached to it. A good case study would be a lot of VR chat games allow custom models already so it's definitely possible to onboard something like that.
@@Jhakaro Moreover, I think this would be a great solution for the problem of ownership generally. Like you don't actually own your steam games or movies you bought online or almost any software anymore.
great video sinix
Thank you for mentioning sakimichan! I always thought she deserved every bit of profit she made.
Had to think of the section in the Hitchhiker's Guide, where the people of Golgafrincham, after crash-landing on prehistoric Earth, installed a fiscal system based on leaves. Due to the high availability of leaves and the resulting inflation problem, they decided to embark on a defoliation campaign - burn down all the forests. Fun and bizarre read at the time, but reality is catching up fast.
Recently start to watch your videos biggest fan
I liked the video. It was interesting to hear you talk about this because, I suppose that it's something on most artists mind right now.
It helps with spreading awareness too.
I believe that the modern world has forgotten the importance of art, as I look back through history I can see that art was held to the same degree of importance as religions and sciences.
But in most of the modern western world, art has unfortunately lost its meaning entirely.
- who asked?
ty sinix loved the vid! never did like the word influencer, grimey grimey word
5:33
Hero
Thanks
Love the edIT transition music :D
I haven’t really seen animated Mona Lisa’s van gos or any famous pieces out there (Harry Potter movies style). That would be very profitable
Good thoughts. A great summation of NFTs and critique of modern day capitalism in general.
No one:
Sinix’s hair: *SWOOSH*
the rainforest is gone, so that's great!
I spent some time in the anarcho capitalist sphere. Cripto interests me. But it is good to listen to all perspectives. There are issues with any system and if they can be addressed, they should be. Great content as always.
Great video!
Tool discussion and a dunk on NFTs. This video rules.
Christmas came early this year
To be clear, I think NFTs are a great idea. They could solve a few issues with copyright.
(For example, you could monetize on your work even after it's been adopted by someone else's work. This could incentivize artists to allow more of their art to be used by the public, as long as the new work is also minted on the blockchain. This is the domain of semi-fungible tokens, where you can make copies of your NFTs that are still irredeemably linked to the original. Of course people could still pirate your stuff, it doesn't stop that, but if they _do_ buy your stuff, and make a derivative product, you could get a cut from all derivative products that are based on _their_ creation. It'll be negligible after a while, but that's a powerful concept. Also, current NFT practices don't do this, before you go looking for it. But it's only possible through blockchain.)
... this turned into a rant on NFTs. I just wanted to say that this video is finally a great critique of the concept.
Wtf is wrong with me...
hell yes sinix!!!
The full Dune Audio book is on UA-cam for free!
Dam this video hit deep
NFTs are a net Negative. even without bad faith actors. but unfortunately the world and anything that can make money like that, that is unregulated like that, is full of bad faith actors.
I couldn't pick the name you said on 5:19, Ahmed Audory (?) It would be cool if you could write it down. Thanks for the video!