Magnum now selling NFTs

[Pieter12]

We're all going to hell.

NFT Gallery Page

www.magnumphotos.com

 

[faberryman]

Unsurprising. Magnum is big business. Magnum is not an arts organization or other not for profit. They are maximizing the value of the photographs in their collection for their benefit and the benefit of their photographer members. They would be derelict if they did not.

 

[BAC1967]

I don't get it, what do you get if you buy an NFT? A digital copy of the image? Rights to use the image? Is there only one NFT ever produced per image?

 

[Pieter12]

I don't get it, what do you get if you buy an NFT? A digital copy of the image? Rights to use the image? Is there only one NFT ever produced per image?

No, no and yes. You do not own the rights, just the digital file. Usually an NFT originates as a digital image, so it is not necessarily a copy--but who can tell? Magnum seems to be selling some predigital photos as NFTs, so they're obviously scans. What you buy is a unique digital mark (not a watermark) embedded in the file that is registered to indicate it is yours, and there is only one such mark per image. Magnum can only sell it once as an NFT (you can resell it), but they own the rights and can also distribute it for free if they want.

 

[BAC1967]

No, no and yes. You do not own the rights, just the digital file. Usually an NFT originates as a digital image, so it is not necessarily a copy--but who can tell? Magnum seems to be selling some predigital photos as NFTs, so they're obviously scans. What you buy is a unique digital mark (not a watermark) embedded in the file that is registered to indicate it is yours, and there is only one such mark per image. Magnum can only sell it once as an NFT (you can resell it), but they own the rights and can also distribute it for free if they want.

So you can brag to your friends that you have the NFT. Meanwhile, I can view a digital copy online for free. Sorry, I just don't see the value.

 

[Sirius Glass]

So you can brag to your friends that you have the NFT. Meanwhile, I can view a digital copy online for free. Sorry, I just don't see the value.

Great summation. "No one ever lost money underestimating the intelligence of the average American." attributed to H L Mencken.

 

[Pieter12]

Like I said, we're all going to hell.

 

[Sirius Glass]

Like I said, we're all going to hell.

No, actually we are watching others going to Hell or bankruptcy.

 

[Alan Edward Klein]

No, no and yes. You do not own the rights, just the digital file. Usually an NFT originates as a digital image, so it is not necessarily a copy--but who can tell? Magnum seems to be selling some predigital photos as NFTs, so they're obviously scans. What you buy is a unique digital mark (not a watermark) embedded in the file that is registered to indicate it is yours, and there is only one such mark per image. Magnum can only sell it once as an NFT (you can resell it), but they own the rights and can also distribute it for free if they want.

I'd rather buy a star.

Name a Star with a personalised Star Certificate as Gift

Name a visible star and receive a personalised certificate, star map, and app access. Trusted by 500,000+ customers since 2012—fast shipping and money-back guarantee.

www.star-registration.com

 

[Sirius Glass]

I'd rather buy a star.

Name a Star with a personalised Star Certificate as Gift

Name a visible star and receive a personalised certificate, star map, and app access. Trusted by 500,000+ customers since 2012—fast shipping and money-back guarantee.

www.star-registration.com

The star will last longer even though you are buying nothing when you buy a star.

 

[Alan Edward Klein]

The star will last longer even though you are buying nothing when you buy a star.

They'll last longer than an NFT.

 

[Pieter12]

But can you resell a star?

 

[Sirius Glass]

But can you resell a star?

If a star, which cannot be sold or owned, is sold to someone, then there is no limit to the number of times it can be resold.

 

[Alan Edward Klein]

If a star, which cannot be sold or owned, is sold to someone, then there is no limit to the number of times it can be resold.

That actually makes more sense than an NFT.

 

[Sirius Glass]

I'd rather buy a star.

Name a Star with a personalised Star Certificate as Gift

Name a visible star and receive a personalised certificate, star map, and app access. Trusted by 500,000+ customers since 2012—fast shipping and money-back guarantee.

www.star-registration.com

The star will last longer even though you are buying nothing when you buy a star.

They'll last longer than an NFT.

But can you resell a star?

If a star, which cannot be sold or owned, is sold to someone, then there is no limit to the number of times it can be resold.

That actually makes more sense than an NFT.

So an NFT is epsilon closer than ∞ ==> NFT = ∞ - ε

 

[gone]

I think I saw a lot of those on our "What's wrong w/ my (fill in the blank)" threads here

 

[logan2z]

Great summation. "No one ever lost money underestimating the intelligence of the average American." attributed to H L Mencken.

P.T. Barnum was an optimist.

 

[Pieter12]

Great summation. "No one ever lost money underestimating the intelligence of the average American." attributed to H L Mencken.

Don't be such a chauvinist. There are stupid people all over the world. Unless that's part of "American Exceptionalism."

 

[Sirius Glass]

Don't be such a chauvinist. There are stupid people all over the world. Unless that's part of "American Exceptionalism."

It is.

 

[Munky]

Like I said, we're all going to hell.

LOL True

 

[ic-racer]

Medium = NFT; Ha Ha!! There is no medium, there is no object, no mass, no volume. It is an abstraction. It is not even a number because the number represents the abstraction but is not the abstraction.
"Thin Air" has more tangibility.
Screen shot from the site mentioned in the OP:

 

[Pieter12]

The ownership is also an abstraction.

 

[MattKing]

If you have a $5 bill in your pocket, its value is also an abstraction.
And the law of copyright is a complete abstraction.
Value comes from consensus for much of what we value in everyday life.

 

[Pieter12]

If you have a $5 bill in your pocket, its value is also an abstraction.
And the law of copyright is a complete abstraction.
Value comes from consensus for much of what we value in everyday life.

I can buy a drink or a snack or a few quarts of gasoline with that $5 bill (but not a roll of film!). And I can be fined more of those dollars if I violate copyright law. If I hack into and steal someone's NFT, there are no consequences I know of.

 

[ic-racer]

I was more interested in the irony. I could see NFT presented as conceptual art, being a true 'Non-medium.'