Make a living selling NFTs?

[Alan Edward Klein]

I'd rather buy a star. I can get a Deluxe star for $34 and a Super Nova for only $79. I'm leaning toward the Super Nova. I don;t want a run-of-the-mill ordinary star or an NFT for that matter.
https://starregister.org/

 

[Pieter12]

Super Nova isn't archival quality.

 

[Sirius Glass]

I'd rather buy a star. I can get a Deluxe star for $34 and a Super Nova for only $79. I'm leaning toward the Super Nova. I don;t want a run-of-the-mill ordinary star or an NFT for that matter.
https://starregister.org/

You could just choose a star, claim it as yours, make your own certificate and save the money. You would have all the privileges for the cost of paper and ink.

 

[Alan Edward Klein]

You could just choose a star, claim it as yours, make your own certificate and save the money. You would have all the privileges for the cost of paper and ink.

But that would be like me creating keeping my own NFT. If I buy a star from his outfit, then I can sell it "officially" to some "sucker" I mean buyer who might want my star, my unique star.

 

[Sirius Glass]

But that would be like me creating keeping my own NFT. If I buy a star from his outfit, then I can sell it "officially" to some "sucker" I mean buyer who might want my star, my unique star.

But why take the risk. You might not find a stupid sucker and you would be out the money. Make your claim, print a certificate, print it out, and with almost no cost to you sell it to a sucker.

 

[Alan Edward Klein]

But why take the risk. You might not find a stupid sucker and you would be out the money. Make your claim, print a certificate, print it out, and with almost no cost to you sell it to a sucker.

I would. Except I still don't know what I'm selling.

 

[Sirius Glass]

I would. Except I still don't know what I'm selling.

That is ok, the sucker does not understand what he is buying.

 

[Pieter12]

I know you still won't understand.
https://www.all-about-photo.com/pho...ent=article&utm_campaign=10fortoday4.0styling
https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
https://www.cnbc.com/2021/12/19/thi...ent=article&utm_campaign=10fortoday4.0styling
https://www.aaronreedphotography.co...ent=article&utm_campaign=10fortoday4.0styling
https://www.nbcnews.com/tech/securi...ent=article&utm_campaign=10fortoday4.0styling

 

[Sirius Glass]

I know you still won't understand.
https://www.all-about-photo.com/pho...ent=article&utm_campaign=10fortoday4.0styling
https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
https://www.cnbc.com/2021/12/19/thi...ent=article&utm_campaign=10fortoday4.0styling
https://www.aaronreedphotography.co...ent=article&utm_campaign=10fortoday4.0styling
https://www.nbcnews.com/tech/securi...ent=article&utm_campaign=10fortoday4.0styling

It is not a question of understanding, rather whether or not it is widely accepted by the public and that has not happened. My credit union now handles digital currency, BitCoin, but it is still not widely accepted.

 

[MattKing]

I was seeing bitcoin ATMs in US shopping malls before the pandemic lockdown.

 

[Alan Edward Klein]

I know you still won't understand.
https://www.all-about-photo.com/photo-articles/photo-article/977/nfts-and-photography-all-you-need-to-know?utm_medium=theshot.wed.rd.20220216.smartflab.436.1&utm_source=email&utm_content=article&utm_campaign=10fortoday4.0styling
https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
https://www.cnbc.com/2021/12/19/thi...ent=article&utm_campaign=10fortoday4.0styling
https://www.aaronreedphotography.co...ent=article&utm_campaign=10fortoday4.0styling
https://www.nbcnews.com/tech/securi...ent=article&utm_campaign=10fortoday4.0styling

The first link shows me I only bought a digital token that is a digital certificate, not physical. I can't do anything with it other than sell it at some point if I can find a buyer. So what have I bought? What am I selling? I'd be better off buying an Adams' print that I could hang on a wall? I could sell that print later on to someone else. Meanwhile, I could enjoy it hanging on the wall of my home. Can't do that with an NFT. That's what I've been saying all along. An NFT has no real purpose for the buyer. When I buy art, I want to be able to show it, enjoy it, etc. If I misunderstand it, then you explain to me what I'm missing.

Quote:" Non-fungible means it cannot be exchanged for something of similar value.
A token is a digital asset issued by a blockchain. And a blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

In other words, a NFT is nothing more than a unique and secured digital certificate/signature that can be attached to any object, physical or virtual.

Wikipedia explains: A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.

A cryptocurrency is a digital asset designed to work as a medium of exchange, it is virtual or digital money, which takes the form of tokens or 'coins.' But NFTs are different from other cryptocurrencies like bitcoins. Indeed, bitcoins are fungible, which means they are interchangeable and of the same value.

NFTs are non-fungible so each unit (token) is unique and cannot be reproduced. It means that we can trace the history of ownership, when or by whom it was purchased and of course who created it in the first place.
Transforming a digital good into a token (tokenizing), gives it a unique value. Each NFT has its own identity, but also its own authenticity and traceability."

 

[Mike Lopez]

The first link shows me I only bought a digital token that is a digital certificate, not physical. I can't do anything with it other than sell it at some point if I can find a buyer. So what have I bought? What am I selling? I'd be better off buying an Adams' print that I could hang on a wall? I could sell that print later on to someone else. Meanwhile, I could enjoy it hanging on the wall of my home. Can't do that with an NFT. That's what I've been saying all along. An NFT has no real purpose for the buyer. When I buy art, I want to be able to show it, enjoy it, etc. If I misunderstand it, then you explain to me what I'm missing.

I'm assuming you're retired, Alan. Do you have investment accounts in which you buy or sell stocks, mutual funds, bonds, etc., in order to pay for your standard of living? If so, do you only buy and sell physical certificates through the (physical) mail, so that you could hold said certificates in your hands, frame them on the wall, etc? Or do you conduct electronic transactions in which you are trading nothing physical at all, yet those transactions involve money? Do you suppose day traders and those who make their living brokering such transactions insist on dealing only with physical objects that are held in the hands? Speaking for myself, not one single investment in my retirement portfolio is represented by a physical object that I can hang on my wall. Instead they are mutual funds and (limited) stocks and bonds that are managed in electronic accounts that I log into. I'd hardly say that those accounts have no real purpose simply because I can't physically hold them in the hand.

 

[Pieter12]

It is not a question of understanding, rather whether or not it is widely accepted by the public and that has not happened. My credit union now handles digital currency, BitCoin, but it is still not widely accepted.

And collecting physical photographs is so popular among the general public that galleries are booming? Something does not have to have wide-spread acceptance to be a viable source of income.

 

[Alan Edward Klein]

I'm assuming you're retired, Alan. Do you have investment accounts in which you buy or sell stocks, mutual funds, bonds, etc., in order to pay for your standard of living? If so, do you only buy and sell physical certificates through the (physical) mail, so that you could hold said certificates in your hands, frame them on the wall, etc? Or do you conduct electronic transactions in which you are trading nothing physical at all, yet those transactions involve money? Do you suppose day traders and those who make their living brokering such transactions insist on dealing only with physical objects that are held in the hands? Speaking for myself, not one single investment in my retirement portfolio is represented by a physical object that I can hang on my wall. Instead they are mutual funds and (limited) stocks and bonds that are managed in electronic accounts that I log into. I'd hardly say that those accounts have no real purpose simply because I can't physically hold them in the hand.

Well, I said that unless you're buying it only for investment purposes and can find a buyer who would be willing to pay you more, there;s no other point to an NFT. That's the point I was making. You can;t hang it, eat it, drive it, wear it, etc. Otherwise, it serves no purpose.

I would not compare NFTs to stock certificates. When you own stock you own a portion of a corporation that has value. That certificate represents factories, products, real-estate, intellectual property, patents, etc. There is no comparison of owning a share of Exxon with an NFT. If you own Exxon, you own oil wells and refineries. The corporation issues dividends from earnings, and they mail you a check for them. Stocks have intrinsic value. NFT's do not. Plus, I thought we were talking about owning art. NFT's aren't art either. They're a hope and a dream. That's it.

 

[Alan Edward Klein]

And collecting physical photographs is so popular among the general public that galleries are booming? Something does not have to have wide-spread acceptance to be a viable source of income.

Viable is the important word.

 

[Mike Lopez]

Well, I said that unless you're buying it only for investment purposes and can find a buyer who would be willing to pay you more, there;s no other point to an NFT. That's the point I was making. You can;t hang it, eat it, drive it, wear it, etc. Otherwise, it serves no purpose.

I would not compare NFTs to stock certificates. When you own stock you own a portion of a corporation that has value. That certificate represents factories, products, real-estate, intellectual property, patents, etc. There is no comparison of owning a share of Exxon with an NFT. If you own Exxon, you own oil wells and refineries. The corporation issues dividends from earnings, and they mail you a check for them. Stocks have intrinsic value. NFT's do not. Plus, I thought we were talking about owning art. NFT's aren't art either. They're a hope and a dream. That's it.

It's ok. It takes all types to make the world go 'round, and even if you disapprove of NFTs, the marketplace doesn't seem to know that. There are plenty of things in this world on which I don't spend my money, but it's not up to me to tell those who do that they are wrong. Or I can, but I shouldn't expect anyone to care.

 

[Pieter12]

Viable is the important word.

And?

Also, the question of NFTs (and art in general) as an investment is pretty iffy unless you're shelling out big bucks for blue chip pieces. If I buy one of your photographs, what do I own beyond a piece of paper coated with ink or chemicals? There is no intrinsic value to art, it is about what it means to me and some others. The original point of this post is that there are people who buy NFTs and this may be a source of income for photographers now and in the near future. To those of you who say "I wouldn't buy one of those, only fools would do so"--do you buy any art at all?

 

[cowanw]

My parents were fond of visiting a town called Chloride when they visited Arizona. At that time (late 1960's) the sole inhabitant sold actual share certificates in the Chloride mining company. While never wound up the shares were apparently legitimate shares in a business with no assets. People bought them.

 

[MattKing]

I would not compare NFTs to stock certificates. When you own stock you own a portion of a corporation that has value.

You don't own any part of a corporation when you own stock in it.
What you own is an enforceable legal right to obtain some things from the corporation, as well as enforceable legal (voting) rights respecting the operation of the corporation.
And of course corporations themselves aren't something that you can hang on a wall - they are just a bunch of legal arrangements in a construct that is created by statute.
Corporations aren't things, they are ideas and rules - not unlike NFTs.

 

[Alan Edward Klein]

It's ok. It takes all types to make the world go 'round, and even if you disapprove of NFTs, the marketplace doesn't seem to know that. There are plenty of things in this world on which I don't spend my money, but it's not up to me to tell those who do that they are wrong. Or I can, but I shouldn't expect anyone to care.

Everyone here has opinions on everything. NFTs aren't any different. Considering some Nfts are used for photos, it's a very relatable and current subject, well worth our time.

I've been trying to understand them but there seems to be a lot of mumbo-jumbo about them.

 

[Alan Edward Klein]

You don't own any part of a corporation when you own stock in it.
What you own is an enforceable legal right to obtain some things from the corporation, as well as enforceable legal (voting) rights respecting the operation of the corporation.
And of course corporations themselves aren't something that you can hang on a wall - they are just a bunch of legal arrangements in a construct that is created by statute.
Corporations aren't thinare ideas and rules - not unlike NFTs.

And?

Also, the question of NFTs (and art in general) as an investment is pretty iffy unless you're shelling out big bucks for blue chip pieces. If I buy one of your photographs, what do I own beyond a piece of paper coated with ink or chemicals? There is no intrinsic value to art, it is about what it means to me and some others. The original point of this post is that there are people who buy NFTs and this may be a source of income for photographers now and in the near future. To those of you who say "I wouldn't buy one of those, only fools would do so"--do you buy any art at all?

NFTs aren't art. That's the point. You still haven't explained to me what is its intrinsic value other than as a digital investment token to sell to an unknowing schnook who doesn't know what it represents. He can't do anything with the underlying artwork. If I'm wrong please spell out what I'm missing.

 

[MurrayMinchin]

I haven’t looked into NFT’s at all, but was wondering, do any artists sell NFT’s and also sell actual photographs of those NFT’ photographs?

Seems to me an artist could sell the NFT, send an actual print to the buyer of the NFT and give it a special designation like AC-NFT for "artists copy of non fungible token".

Wouldn’t the artist also be able to sell limited editions or numbered copies of the photograph as well...or does the image only live in a computer world when sold as an NFT? Couldn’t it exist in both worlds?

 

[MurrayMinchin]

Further thoughts...

The NFT would be a one of one copy, like a painting. The art world likes that.

The actual photographs would be like a painter having a signed and numbered series of prints made from a painting.

Makes sense to me, if that's where the market is going, and I have less than little control over the art world!

 

[Alan Edward Klein]

Further thoughts...

The NFT would be a one of one copy, like a painting. The art world likes that.

The actual photographs would be like a painter having a signed and numbered series of prints made from a painting.

Makes sense to me, if that's where the market is going, and I have less than little control over the art world!

That makes more sense to me. The Nft acts as a kind of seal proving original manufacturing of the print and the ownership which could be sold together. It will help to avoid counterfeits of prints.

Otherwise nfts are like seals being sold without the article. Finally a purpose.

 

[Mike Lopez]

Just gonna leave this right here for you, Alan.