UNICEF is selling non-fungible tokens, and I am going to sell them, too. Non fungible tokens, or NFTs, are the new way to make money. UNICEF calls it innovative fundraising.
Here is my non fungible token, and I invite you to put in a bid. Starting price is 20,000 Euro. There is no need to pay me in bitcoin, plain money will do.
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The non fungible token mechanism, activated through a thing called blockchain, ensures that the original photograph is marked so that no other than you can claim ownership of the photo of your meal. No matter the actual taste of the pie, or the aesthetic value of your digital art, there will be irrefutable proof that you took the photo and you own it, until you transfer the right to it to someone else via the blockchain.
Likewise, I am not claiming a particularly creative process or artistic value to my non fungible token – but I will guarantee its uniqueness, even without blockchain! I will send you the original post-it, marked with my DNA and fingerprints on the plastic casing, with a letter in real blue ink confirming the authenticity of the object.
I learned that because of the energy requirements of blockchain computing, each typical NFT has a whooping carbon footprint of 211 kg CO2; because I will send you my NFT by regular mail, its footprint will be a negligible 0.02 kg CO2. It was never so easy to save the planet! Reflecting on it, I should increase the starting price to 30,000 Euro.
I foretell that because of popular demand among well-to-do development experts and UN retirees, my NFT will easily double or triple its value in no time.
NFTs are investments into the future. Specifically, my future. By the way, the revenues from NFTs will be allocated to my Regular Resources – which I can flexibly use for my greatest needs.
More Insights from Outside the Bubble
Detlef can be contacted via detlefpalm55@gmail.com
Dear Detlef, I very much found myself in line with your initial thoughts. This is similar to the question, what makes some people paying/donating to streamers in Twitch.tv while these streamers play different games in their own computers and make money. A standup comedian posed the question as to why his son was watching someone play a game instead of playing it himself. His son responded, why do you watch soccer games and don't go play yourself?...
ReplyDeleteI have to disagree with the carbon footprint generated by the blockchains. There is a shift of blockchains moving from Proof of Work to Proof of Stake, hugely reducing the carbon footprint. This also seen with Ethereum where the majority of NFTs have been minted.
You make a valid point as to the value of simple pictures, drawings or screenshots being sold for an insane amount of money. But that's a money-making scheme to attract those who fall for it. On the other hand, a (PoS) blockchain will provide for original artists to sell their work to their followers so they get their money's worth and give access to fans without middle-men raising costs for their own profits. An example: Taylor Swift releasing and selling one of her songs, purchased in a limited parts by a 100 of fans. In turn those fans would also be eligible to get royalties for that song.
Movie example (from a source in internet): Avengers - Endgame
Worldwide box office: 2.8 billion USD
~800 million stayed within cinemas
~900 covered the production and marketing costs
~175 million went to their star actors (55 million to Robert Downey Jr)
And the final 900 million to Disney.
How much money went to the creators? Marvel was acquired in 2009 by Disney and Stan Lee, the creator behind this universe got the deal to earn a lifetime salary of 1 million annually.
Artists at Disney do not hold a percentage to the work they create. The average annual salaries for animators and multimedia artists at Marvel are at ~65k a year.
Producers, cinemas and the most famous actors get the large share of it. Some developers and artists are trying to change that by giving direct access and some ownership to their fans and followers, increasing revenue to the artist and reducing costs while also incentivizing fans.
How UNICEF is or should be making use of NFTs, that needs more discussion time :-) .
Warm regards
It's still hazy to me. Can I hang an NFT on the wall? How do I share my purchase with families and friends, if it is so unique and protected?
ReplyDeleteI commend you on your artistry which clearly shows that both you and I work with machines. In your case, your left hand seems to display only three fingers, so I am wondering which machine managed to remove the fourth one ? Caught between the fan belt and pulley, was it ? Happily, in my case, and despite some experiments with certain chemicals, I still maintain a full complement of fingers on both hands albeit with some scarring.
ReplyDeleteNow here is the problem that you might have with the value of your artistic NFT: If I were to use tracing paper to make a near exact copy but I were to put four fingers on the left hand, then I have proof-positive that my ‘sketch’ it is NOT your NFT. True, this is plagiarism on my part but . . . . . can your NFT maintain its value with scammers like me around ? I doubt it.
Thus, you may need to rely on the UNJSPF for your income stream, for the present.
To Horst: Should you buy a UNICEF NFT, you can make a printout of the NFT and hang it on the wall - but it is only one of many images that may have been produced from it - just like a poster of Mona Lisa. The original NFT is just a tone of code in cyberspace, looking something like: /img/b/R29vZ2xl/AVvXsEg_5vMg9KivAM78B4EM8hBfBXcTK647NmmEFyQABZfSrHVrrRLyvnfJyPo4z1N2vp02vlclINtdMQBVtAinNNYsc1IG359ylNCK7KlR7E9ZU_m9W4N4M6gJMApI2tqaN6-YjTnHvcboRf4uBx2UyiKXx73Rvw5ArVydiofwtFC4IliewTbzsth8pLJLrM7ej3/s4032/etc etc
ReplyDeleteShould you buy my NFT, you can hang it on the wall and show it to your visitors. It will be the real ting, just like the Mona Lisa in the Louvre.
My friend Detlef is auctioning his NFT
ReplyDeleteFor Euros 20,000 how can that be ?
It is a quite bargain for all to see.
In a few days the price will be down to free
Or climb to thirty thousand and thirty three.
The difference is large as a sea,
But that is as normal as can be.
His portrait, missing left fingers, Oh Gee!
Will still be worth a sizable fee.
Whether it is Gaby or Detlef on his knee,
It is definitely debatable for me,
The important thing that is key,
Is the drawing a She or a He ??
I'll take you up on your NFT offer of sale, Detlef, if you will accept as payment a stack of Yugoslav dinars in 50,000,000,000 denominations stored somewhere in the attic for just the steal of a deal like this. Now, in which box in the gloom did I store them?
ReplyDelete@Thomas Hae(ä)ttenschwiller: It's a deal! But how can I be sure that your dinars are real?
ReplyDelete