I'm thinking of making some NFT's...

[mojo pixy]

I feel as if there's quite a lot of free wealth available these days with the right tech, and I want some. I have ton of content made over decades and I'm thinking of creating some as NFTs to monetise it.

How should I get started? What's the most lucrative way to exploit crypto and the true believers via NFTs? I feel I must be missing a capitalist trick and I want to know more.

This thread is for anyone to benefit from, the plan is: let's all get filthy rich off cryptobros

 

[Pickman's model]

I think nfts are becoming rather passé

 

[Pickman's model]

I feel as if there's quite a lot of free wealth available these days with the right tech, and I want some. I have ton of content made over decades and I'm thinking of creating some as NFTs to monetise it.

How should I get started? What's the most lucrative way to exploit crypto and the true believers via NFTs? I feel I must be missing a capitalist trick and I want to know more.

This thread is for anyone to benefit from, the plan is: let's all get filthy rich off cryptobros

Is stalkerone still on the boards?

 

[mojo pixy]

I think nfts are becoming rather passé

Really? I have no idea, what's the new lucrative crypto wheeze?

 

[Pickman's model]

Really? I have no idea, what's the new lucrative crypto wheeze?

Stalkerone will doubtless be along soon enough to tell us. I think he's something of a daoist

 

[Smangus]

I thought the nft was on the South Bank?

 

[StakerOne]

Is stalkerone still on the boards?

I've landed!!!!

NFTs aren't becoming passé. Using NFTs to sell rather random art that could have been generated in seconds, is becoming passé, but nevertheless will always be around.

NFTs are just unique tokens that can be used for anything - so they'll always be around, literally.

I've always seen ticketing as a much more useful and grown up use for them:

Argentine Carrier Flybondi To Issue Online Tickets As NFTs

I love some of the technical aspects, including that of NFT art, because it's an immutable pointer on a blockchain to an immuttable secure file on a distributed file system. A lot of art NFTs will be around until the end of civilisation if we civilisation ends before we get off the planet.

If we manage to get off this planet, for example to Mars, we'll have those same blockchains and filesystems on Mars.

 

[salem]

it's an immutable pointer on a blockchain to an immuttable secure file on a distributed file system

So I get the immutable pointer on the Blockchain but that's limited to a few bytes or whatever that is usually going to be a link to the JPEG (or whatever) of the art elsewhere. What's the immutable secure file on a distributed file system bit? Some form of bit torrent style thing?

 

[mojo pixy]

I'm not into the ideology, I just want the sponds. They're there just waiting to be picked up, why wait for someone else to take them? Like the stock market, this isn't going away so why not grab a gramme for me and mine?

 

[UnderOpenSky]

I'm not into the ideology, I just want the sponds. They're there just waiting to be picked up, why wait for someone else to take them? Like the stock market, this isn't going away so why not grab a gramme for me and mine?

Even better you can rinse idiots of their money. Guilt free.

 

[mojo pixy]

I can't shake the feeling that I'm not being respectful enough. I ought to be overbrimming with awe and enthusiasm but instead I'm tugging on the cardinal's robe and going 'giz some o yer gold then!'

On reflection, if I want help with this I may need to rethink my approach

 

[q_w_e_r_t_y]

I'm happy to walk you through creating an NFT collection (obvs I expect to be dropped one )

Here;s a few things to think about

• How many will there be in total, how many traits, how many variations of each?
• What does it do, eg does it give access to a protected twitter? a discord server? an IRL space? Provide information? Commemorate something?
• Will it have artwork? sound? Animation?
• Is it soulbound, if not will you impose royalties on a sale?
• Is it dynamic (changes in accordance with something else)?
• Do you have an artist/theme/world in mind?
• Whats the initial mint and distribution plan?
• Are you planning on building yourself, do you have tech help you can call on, will you persuade someone else to do the technicals?

 

[StakerOne]

So I get the immutable pointer on the Blockchain but that's limited to a few bytes or whatever that is usually going to be a link to the JPEG (or whatever) of the art elsewhere. What's the immutable secure file on a distributed file system bit? Some form of bit torrent style thing?

IPFS Powers the Distributed Web

 

[SpookyFrank]

Really? I have no idea, what's the new lucrative crypto wheeze?

Most of the crypto bros have moved onto a new thing called 'bankruptcy'.

 

[8ball]

At this stage in the game I think you’re going to have to combine the NFTs with something like small bite-sized pieces of cheese. Probably the lactose-free kind.

 

[pbsmooth]

it's normally Press Shift and Command-3

 

[littlebabyjesus]

Boring answer: from the numbers I've seen, the vast majority of artists who went into NFTs either made very little money or actually lost money due to the various fees involved. A small minority made a lot of money (sometimes through pump and dump scams), which gave all the others hope.

All very cryptoverse essentially.

 

[8ball]

Boring answer: from the numbers I've seen, the vast majority of artists who went into NFTs either made very little money or actually lost money due to the various fees involved. A small minority made a lot of money (sometimes through pump and dump scams), which gave all the others hope.

All very cryptoverse essentially.

Much more reliable to get into tiny pyramids that the stereo speakers sit on. With optional little plinths to keep the cables suspended at the optimal height.

 

[Yuwipi Woman]

Boring answer: from the numbers I've seen, the vast majority of artists who went into NFTs either made very little money or actually lost money due to the various fees involved. A small minority made a lot of money (sometimes through pump and dump scams), which gave all the others hope.

All very cryptoverse essentially.

You're better off canning your own shit and selling it as art:

Artist's Shit (Italian: Merda d'artista) is a 1961 artwork by the Italian artist Piero Manzoni. The work consists of 90 tin cans, each reportedly filled with 30 grams (1.1 oz) of faeces, and measuring 4.8 by 6.5 centimetres (1.9 in × 2.6 in), with a label in Italian, English, French, and German stating:

Artist's Shit
Contents 30 gr net
Freshly preserved
Produced and tinned
in May 1961 ....

A tin was sold for €124,000 at Sotheby's on May 23, 2007.[6] In October 2008, tin 83 was offered for sale at Sotheby's with an estimate of £50,000–70,000. It sold for £97,250. On October 16, 2015, tin 54 was sold at Christies for £182,500. In August 2016, at an art auction in Milan, one of the tins sold for a new record of €275,000, including auction fees.[7] The tins were originally to be valued according to their equivalent weight in gold – $37 each in 1961 – with the price fluctuating according to the market.[3]

Artist's Shit - Wikipedia

en.wikipedia.org

 

[salem]

Boring answer: from the numbers I've seen, the vast majority of artists who went into NFTs either made very little money or actually lost money due to the various fees involved. A small minority made a lot of money (sometimes through pump and dump scams), which gave all the others hope.

All very cryptoverse essentially.

As well as pump and dump, I've also seen rumors that NFTs are a nice way of laundering illicit income from bitcoin.

I.e I have £1m in an anonymous wallet from selling drugs or hacking or whatever. Use that to buy some shitty boredape NFTs from my legit self and now I'm a legit techbro who made it big during the NFT boom rather than a drug dealer or CryptoLocker scammer and can declare the money.

 

[mojo pixy]

Much more reliable to get into tiny pyramids that the stereo speakers sit on. With optional little plinths to keep the cables suspended at the optimal height.

Or persuading people you can make them richer / happier / more popular

 

[mojo pixy]

I'm happy to walk you through creating an NFT collection (obvs I expect to be dropped one )

Here;s a few things to think about

• How many will there be in total, how many traits, how many variations of each?
• What does it do, eg does it give access to a protected twitter? a discord server? an IRL space? Provide information? Commemorate something?
• Will it have artwork? sound? Animation?
• Is it soulbound, if not will you impose royalties on a sale?
• Is it dynamic (changes in accordance with something else)?
• Do you have an artist/theme/world in mind?
• Whats the initial mint and distribution plan?
• Are you planning on building yourself, do you have tech help you can call on, will you persuade someone else to do the technicals?

Thanks for this, genuinely. I'll have a proper think and reply later.

I know this all looks like me taking the piss but there are a lot of 'content creators' (wanky phrase) here, who might could find it interesting to know about NFTs. Plus if it's a trickle down system, then it must be beneficial to know how to channel the trickle.

 

[littlebabyjesus]

Some of the scams are pretty blatant. This one was discussed on the bitcoin thread a while back. Beeple and Metakovan with the $69 million NFT, which was a blatant pump and dump scam, have got away with it. Look at how the price of B20 coins ('fractionalised' ownership of a bunch of Beeple NFTs) rocketed during the 2-week auction of the $69 million NFT. Then look at who owned most of the B20 coins at the time - the very same Metakovan who paid the $69 million. They appear to have made something in the region of $50 million out of it. They were almost certainly in on it together. They should be in jail - it's out and out fraud. Instead they get interviewed by high end arts magazines.

Everything is not as it seems in the NFT world. I'm not convinced there is money to be made there except through scamming.

There are 10 million b20 tokens. They went on sale initially at $0.36 each. They peaked at $23 during the pump phase. Today, they are worth 10 cents each.

It's a fucking sewer.

Metakovan, the mystery Beeple art buyer, and his NFT/DeFi scheme

 

[Yuwipi Woman]

Or persuading people you can make them richer / happier / more popular

Or, tell them they can save their soul. That scam comes with private jets and a $25 million dollar parsonage, all tax free.

 

[hitmouse]

I thought the nft was on the South Bank?

Nah, they're those things you put up your nose to find out if you've got covid.

 

[hitmouse]

Also, I think I might've found a good investor for this new scheme.

 

[mojo pixy]

I'm happy to walk you through creating an NFT collection (obvs I expect to be dropped one )

Here;s a few things to think about

• How many will there be in total, how many traits, how many variations of each?

I'm thinking unique items, but only because that's how I'm used to presenting things. I'm not sure what traits means in this particular context?

• What does it do, eg does it give access to a protected twitter? a discord server? an IRL space? Provide information? Commemorate something?

I hadn't thought of that but maybe it gives access to other online content that would otherwise be impossible to access or would require a subscription? Is that the kind of thing you do with an NFT?

• Will it have artwork? sound? Animation?

I don't want to be specific because I haven't actually got a plan yet, and the more general the scenario the more useful more people might find it. But let's say it's sound / image / video, let's assume I'm the copyright holder. What should I know? Does it matter if elements of the NFT are available in other ways? Though I'm thinking more of unique one-offs or limited series collections.

• Is it soulbound, if not will you impose royalties on a sale?

My thinking was the buyer owns it and can do what they want with it (because that seems simple!) but is it possible to impose a fee or royalty on resales? I don't know if I'd want that but someone clearly must, how does it work?

• Is it dynamic (changes in accordance with something else)?

An interesting thought I hadn't even considered! Is it possible to create an NFT that eg changes every hour, or varies depending on eg how many have been collected? etc

• Do you have an artist/theme/world in mind?

Not necessarily, but I imagine just about anything can be can NFT - plus it could even act as a pass or ticket to something else, even real-world events I guess?

• Whats the initial mint and distribution plan?

No idea, I don't think I even know what the possibilities are. From a blog, or some social media account maybe? If mint means how many, again I have no specifics in mind but unique items i suppose. Feel free to point out how far behind the curve I am lol...

• Are you planning on building yourself, do you have tech help you can call on, will you persuade someone else to do the technicals?

Personally I'd try to do as much as poss myself, there must be templates for many things? Then again I've been under the impression than NFTs are basically just like 'normal' things but with code embedded that make them unique in some way / give them some non-obvious 'alternative' function that the normal versions don't have?

 

[q_w_e_r_t_y]

I'm thinking unique items, but only because that's how I'm used to presenting things. I'm not sure what traits means in this particular context?

Traits are like aspects. So suppose you have an NFT collection that is pictures of apples.

The traits might be
- stalk - does the apple have a stalk or not
- colour - is the apple red, green or mixed
- worm - is there a worm coming out of the apple or not.
So you could have a collection of 12 (or less) apple NFTs with 3 traits.

I hadn't thought of that but maybe it gives access to other online content that would otherwise be impossible to access or would require a subscription? Is that the kind of thing you do with an NFT?

Yes, you can do that - take a look at Unlock for example (thats just one and I'm not recommending, just an example)

I don't want to be specific because I haven't actually got a plan yet, and the more general the scenario the more useful more people might find it. But let's say it's sound / image / video, let's assume I'm the copyright holder. What should I know? Does it matter if elements of the NFT are available in other ways? Though I'm thinking more of unique one-offs or limited series collections.

Not necessarily, its a question of whether it matters to you.

My thinking was the buyer owns it and can do what they want with it (because that seems simple!) but is it possible to impose a fee or royalty on resales? I don't know if I'd want that but someone clearly must, how does it work?

Yes, you can impose royalties within the token contract, however not all sales platforms will implement it, most large ones will tho. A soulbound token cannot be transferred, and is attached to the wallet that minted it.

An interesting thought I hadn't even considered! Is it possible to create an NFT that eg changes every hour, or varies depending on eg how many have been collected? etc

Yes, dynamic NFTs are a thing. Async: Create Art and Music NFTs is worth a look. A lot of their nfts have day/night cycles, so that the nft looks different at different times, but there are a load of things that can be implimented. Obvs the more sophisticated the harder it is to do.

Not necessarily, but I imagine just about anything can be can NFT - plus it could even act as a pass or ticket to something else, even real-world events I guess?

Yup, unlock protocol is used a lot for this.

No idea, I don't think I even know what the possibilities are. From a blog, or some social media account maybe? If mint means how many, again I have no specifics in mind but unique items i suppose. Feel free to point out how far behind the curve I am lol...

Dont worry about that. There is load of info out there on how to build, everyone is behind, everyone is learning.
This is a good place to start researching How to Build a Successful NFT Project

Personally I'd try to do as much as poss myself, there must be templates for many things? Then again I've been under the impression than NFTs are basically just like 'normal' things but with code embedded that make them unique in some way / give them some non-obvious 'alternative' function that the normal versions don't have?

There are "no-code" platforms for creating NFTs, but usually they charge and are less flexible than if you learn a little coding.