You do obtain exclusive rights to that moment on that platform. You own it. Its just like having something authenticated...yes the knock offs are easily available and visible for everyone, but what are they worth?I'm fully "old man yells at cloud" with this stuff but clearly I don't fully understand it. You don't actually own the copyrights to the "moment" or whatever, correct? If I spend $1m and "buy" MJ's iconic Game 6 shot in '98, it's not like I obtain exclusive rights to that moment, right? The NBA can still use it as they see fit. I don't understand what you're actually getting and what's different from just going on YouTube to watch a clip.
Yeah it's more like owning a signature than a foul ball. Dude can sign more of anything. They can just sell another, distinct but identical NFT of whatever you bought. Until as you say they remove the ability to create more of the item (which is incredibly easy with digital goods), there will never be scarcity or restrictive use.You do obtain exclusive rights to that moment on that platform. You own it. Its just like having something authenticated...yes the knock offs are easily available and visible for everyone, but what are they worth?
We're moving toward a digital society where owning art, video game gear or collectibles, or sports moments in virtual world will hold just as much value as tangible collectibles. What hasn't happened yet is the adoption of the virtual world to enjoy the NFTs in, which will come over time.
But when we are able to authenticate and create scarcity in a digital world, the market will be MASSIVELY disrupted.
Using your example, there’s a huge quality difference between an actual card and something you print out. If you’re displaying the moment on a digital picture frame, how much of a quality difference is there between the purchased one and one you can make yourself?@HuskyFich addressed it above - an NFT is like having something authenticated.
You can buy a replica of a Picasso and hang it in your house. It may look legit, but it's not the real thing. NFTs do that with digital assets.
I get the concept of NFTs and find them intriguing. We are moving to a digital world, but the real question is do people want to collect things digitally? I think yes.
I would totally pay way too much to buy a NFT of a "1 of 250" Kemba Walker step-back over Pitt in the BET. To be one of 250 fans to exclusively "own" that moment would be awesome. Sure anyone can go watch it on YouTube. But anyone can print out a Lebron rookie card too and stick that in a display case. It just isn't the same thing.
The other thing I'd want to know is how the market is regulated from a reproduction standpoint. What is stopping the creator of an NFT (NBA top shot, digital art, etc.) from just creating more copies? Maybe a "second edition" of something popular would only increase the demand for the first edition of the NFT? IDK how that one will work...
As for the Kemba highlight, I'd just need to find a way to display it in my house (maybe a digital picture frame that has it on loop).
Using your example, there’s a huge quality difference between an actual card and something you print out. If you’re displaying the moment on a digital picture frame, how much of a quality difference is there between the purchased one and one you can make yourself?
Using your example, there’s a huge quality difference between an actual card and something you print out. If you’re displaying the moment on a digital picture frame, how much of a quality difference is there between the purchased one and one you can make yourself?
Right, that's what I don't get. A real Picasso or an autographed football is different. What do I get for my say $1,000 of Kemba's stepback that I don't get from playing it on a loop via YouTube on my Google Nest? The quality is more dependent on the device/source than anything else.
NFTs are obviously going to be huge, hell they already are, but there's a disconnect in my tiny old brain.
Right, that's what I don't get. A real Picasso or an autographed football is different. What do I get for my say $1,000 of Kemba's stepback that I don't get from playing it on a loop via YouTube on my Google Nest? The quality is more dependent on the device/source than anything else.
NFTs are obviously going to be huge, hell they already are, but there's a disconnect in my tiny old brain.
What do you get from the Picasso sitting on your wall? Nothing more than the enjoyment of owning a rare piece of art and the appreciation of value due to its demand AND SCARCITY.
The creator Beeple just sold a NFT painting for $69MM on Christy's. His NFT was a collage of 5000 1/1 NFTs he has created and shared on Social Media over a 5+ year period. But he didn't sell the ownership of any of them until last week.
This is the major problem in the space, you have it exactly right.Right, but the Piccasso is a tangible thing sitting on your wall. What's the new owner of the Beeple painting doing with it? Displaying it on a digital picture frame?
I've never been a collector but it always seemed that displaying collections was a big part of the appeal. Decorate your home, your office, your garage (with a fleet of expensive cars) with whatever you collect. With NFTs, do you just store them digitally like anything else and pull it up on your phone when you want to show it off? Again, not sassing here. Trying to learn more about it.
I'm not sure I get it. So I have a digital piece of art. And I can trace it's chain of custody back to the artist..... but it still looks identical to a normal digital copy. I may not understand the tech either.What are your thoughts? Digital, crypto, blockchain, art. Is this a fad or here to stay?
Are you a fan? It’s becoming pretty popular and very expensive.
I have bought 2 packs, each pack contained 3 moments. The first pack I bought for $14, and it had Goran Dragic, P.J. Tucker and James Harden. I sold the Dragic moment for $14. The Harden moment is selling for around $250-300 for serial numbers over 1000 (haven’t listed mine yet).NBA Top Shot has been wildly popular. Anybody buy one? UConn guys?