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Sjlver
@sjlver
What is the point of minting someone's work? (honest question) Minting seems to be a mix of bookmarking, sending money, and publicly liking something. Yet it's a strange bundle that does a mediocre job at each of these 🤔 Please help me make sense of web3 🙏🏼
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adnum
@adnum
I see it as a reward for a creator. Some time ago we used to buy albums, art, comics... some of the proceeds went to the creator. Now almost the entire sum reaches the creator of it. Its a win / win contract. You get a piece of art to display or listen end the creator gets his reward for the work he put in to create it. With the added ability to verify for authenticity which could not be done before and we needed "experts" to notarise the authenticity.
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Sjlver
@sjlver
Great reply! Regarding the distributor's cut: I agree it's higher for CDs or comic books... but isn't it comparable for digital goods like eBooks or apps sold on Appstore? Regarding authenticity... maybe? I feel NFTs put the burden on consumers. They have to become "experts" themselves to not fall for scams. (Ironically, it's trivial to create copies of NFTs... Unless you get them directly from the creator, it can be hard to tell whether you have the genuine thing)
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adnum
@adnum
Well yes and no. Appstore has still high fees and “high standards” to enter. A small maybe not yet understood artist could have problems placing his creation there. Web3 is permisiinless and is up to “clients” to decide if it is likeable. I agree but i am regarding nfts as a space in development stage. The tools and logic has yet to come. Opensea or others will implement some sort of algo that will distinguish plagiators and comunity will play a greater role in judging authenticity imho
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Sjlver
@sjlver
Hmmm... you can't have both the "permissionless and decentralized" and the "OpenSea will have spam filters" 🤔 (I mean you can, but they contradict each other) I'm looking forward to further development in this space. I just wonder if the foundational concept makes sense / I don't understand it yet.
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adnum
@adnum
The nice thing is that you can have many clients for the same thing. One of them can be like the tools we use today and we choose that because we believe it filters out spam and malicious content. Than there can be a more censor free solution which warns you but is up to you to judge than. It makes sanse to me because i am free to choose my risk profile and platforms accordingly. There is no one authority limiting me nor as a creator nor as a consumer
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Sjlver
@sjlver
Good points! As a user, I feel that the best experience often doesn't involve NFTs. As a creator, the multitude of clients makes life difficult. You duplicate your work across multiple competing cryptocurrencies and also web2. You end up with the lowest common denominator. Podcasts illustrate this. In theory, it's an open standard where creators publish feeds and users subscribe in a permissionless, decentralized way. In practice, creators put in extra work to support the dominant platforms like Spotify, Apple podcasts and YouTube. Creators could add NFTs as yet another revenue channel, but it's more work for a comparatively small increase in reach. Am I missing a trend here? Thanks for the great discussion so far, I love it!
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adnum
@adnum
You are absolutely right. Until today there is no practical solution in web3 that offers what I described before. And the use-case for NFTs is not a trend yet. The problem is that you have to be a solidity dev to create the contract by yourself and put your NFTs onchain. But as there are not many dev artists we revert to use one of the available platforms to mint our work. That way we are tied to one platform or more of the mainstream ones. The space has potential, is just that there is no universal solution yet. NFT contracts should be easily deployable and sharable among the top NFT platforms. Let say now we have one to one relation between art and platform whereas it should be one to many. We could say that we use private / proprietary contracts instead of permisionless open source ones.
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