welter.eth on Warpcast

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welter.eth pfp

is "art" more valuable on the Ethereum L1 network vs a L2 like Base/Zora? and what about chains like Tezos? does it matter what chain you mint on? @jessepollak @vitalik.eth

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Jesse Pollak 🔵 pfp

Jesse Pollak 🔵

definitely think there are different characteristics of blockspace today for minting. hopefully over time, as L1/L2 mature, there's more convergence and people feel the same level of trust in L2 as L1.

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Steve pfp

I think it’s most valuable where there’s highest liquidity and market activity. I don’t have much exposure to tezos art collecting but anecdotally I know they have much less secondary activity due to much much higher royalty rates. Which seems to align more with proper collectors than speculative degens.

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Rakshita Philip pfp

Rakshita Philip

@awkquarian.eth

Many collectors favor Ethereum for their collections. Some artists are advised by bigger collectors to burn their art on an L2 and remint on L1 to boost sales possibly due to the predominant ETH holdings, aversion to bridging, and a preference for L1's liquidity and volume.

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Liang /degencast SOON🎩 pfp

Liang /degencast SOON🎩

In addition to liquidity, my personal theory is that high block space cost on eth makes its nfts more valuable to some extend, just like arts made with precious metal or gems.

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Rani pfp

when there is fluid provenance tracking across L1 and L2 chains, i don’t think it will matter anymore where the NFT currently sits. as long as u know where it was before.

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Steen pfp

the network is itself worth something which in turn means what's associated with it will be proportionally worth something. tezos had the culture for a minute, and it was the most fun i'd had minting/collecting. culture is def a function of economics. and the "low value" worked in it's favor bc experimenting cost less

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kugusha ↑ pfp

My single biggest critic to tezos is its centralization. For moral reasons never minted on it (similar to Solana) Personal take: Eth for «art», Base/Zora for fun and culture. (Bridging is still a point of friction) * Keeping an eye on what Optimism team is doing with creators

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frdysk 🦠 pfp

@fufuprophet.eth

imo mainnet and L2 serve different purposes, i'd rather mint valuable stuff on mainnet due to provenance and decentralization, L2 for fun, high frequency, and for the masses stuff.

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Emmanuel🦉⌐◨-◨🎩🍥 pfp

Emmanuel🦉⌐◨-◨🎩🍥

any asset is fundamentally more valuable on the Ethereum ledger than any other ledger that existed after it, like Base or Tezos. Ethereum is only second to the Bitcoin ledger in that regard. factors that contribute to this include: age, socio-economic security, ledger integrity, and even institutional support. 1/x

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Gökhan Turhan 🧬💾🚀 pfp

Gökhan Turhan 🧬💾🚀

I value anything on L1 more. It's just what it is. Tezos is an illiquid dead end for the artists. See how many projects have migrated to the Ethereum L1. This congests the network at the retarded marketual moments but it is what it is. What is beautiful about Base/ Zora line is that they accentuate "cryptomedia."

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Suffuze 💩 pfp

Once digital ownership is part of the status quo, I expect it to hardly matter as most won't be familiar with the infra anyways. But we could end up with a "Vault" app marketed to, and won over by the masses, bragging "maximum security" for art. Uses Eth for security and bridges in other assets. Or something similar.

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John pfp

I don't pay much attention to tezos since it's not Ethereum aligned. Some cool stuff there but I'd never touch it. I'm also pretty over L1 NFTs. I wasted so much money on gas to mint, list, sell, etc ... it's just a money sink. L2s are v centralized still, hopefully this can change soon

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Garrett 🎩↑ᖽ pfp

Garrett 🎩↑ᖽ

Currently, yes In the future, maybe not. Network effects are correlated with value

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Claus Wilke pfp

Somewhat related article I wrote a while back: https://www.fxhash.xyz/article/art-permanence-on-ethereum-and-on-tezos I'd definitely pick an L1 such as Tezos over an Eth L2 that is more centralized, maybe run via a multi-sig, and possibly could disappear.

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caz.eth pfp

I find myself asking the same thing about where the content is stored. IPFS or Arweave, how much does it matter?

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