christie's punk auction goes to haralabob/mark cubans group for ~15 mil. i think this is about 5 mil less than most expected and going to punk holders is another bear indicator imo.

market has reacted: a floor punk just went for 14 eth when they were 20ish a week or two ago.

that being said, the 60k it costs to buy a punk is still near an all time high since punk price is more correlated to eth than usd.

all in all, seems like people outside the space don't really care about punks, other than the news it generates that 576 pixels can cost a staggering amount of money

i looked, it seems just like a ripoff, especially the staggered release with increasing prices is right out off the falsified scarcity to create artificial demand playbook - forget the name of the photographer who does that but he'll issue 5k prints and first one sold goes for $500, second one for $505 etc so then people start buying thinking their $700 print will be going for at least $900 soon enough

i think best way to go about this stuff is issue everything out dirt cheap or for free and just collect 10% of all secondary sales and let the market speak - when your entry price for an obvious ripoff is still several hundred dollars you're severely limited the overall scope of things

vini - agreed, i think punks will also have value because by this point they are part of the zeitgeist but don't ever see that going beyond a niche group who loaded up on eth at $25 and are now spending it like monopoly money

that's the main issue with sorare, a card will sell for .05 eth and for early adopters deep into the space it's "oh that's .05 eth whatever" and for the mainstream it means their entry point for something they don't even quite understand nor know if they'll even like it and they're like zomg that's $200 but even to get to that point i need to deposit, buy eth, transfer to wallet, spend on transaction and that's another $50+ on fees

that's why topshot did so well, they have a low entry point <$10 and gave a credit card option and fees were limited beyond deposits (although that market is tanking hard right now, everything just plummeting)

Yeah, they just voted to change their contract structure so that all mints will be .04 in the future.

Bonded curves are almost always ponzi's

Evidently the "Charlie bit my finger!" video is going be removed from youtube and auctioned off as an NFT.

https://www.youtube.com/watch?v=_OBlgSz8sSM

https://nypost.com/2021/05/17/kids-f...-video-as-nft/

I don't get the allure to a lot of NFTs...why would someone want to own this video for any reason other than the hope of one day being able sell it to someone else? Bragging rights??

Guesses at to how much it will sell for?

I saw the model Emily Ratkowski (sp) sold one for 140k?

Gotta be money laundering, all I can think of

People really have that much $ to blow on useless ****?

Most reasons I can think of is concealing illegal activity but don't underestimate plain stupidity either especially when it comes to simping.

My guess for the kids video no way it will sell under 5-figs sadly

Someone couldn't think of anything better to do with $760,000 than to buy the NFT of this video:

https://www.businessinsider.com/char...000-nft-2021-5

NFTs have real potential to create limited editions for true fans so even artists with a small following can monetize without having to create physical products that are expensive to produce.

It's a hustle.

One of the aspects I don't hear talked about often are the compounding benefits of owning the right NFTs. We know that video game items have value and are often resold on Ebay. However, most of these items only have value within a game since the immutable storage is a central DB somewhere. With NFTs, it seems like owning an item in one game could give you specific benefits in future games by the same game studio or even other studios.

Also seems like a company could partner with an artist to provide additional benefits to specific NFT owners. Imagine NBA teams or even players providing exclusive benefits to holders of their Topshots.

What am I missing?

Enjin.

https://enjin.io/blog/play-to-earn-asset-scarcity

Why would a game company want you to transfer assets to a competitors game?

Imagine NBA teams providing benefits to anyone. Just because you can imagine doesn't mean it's a good idea.

I know practically nothing about NFTs, but have been very active in the CSGO market for 5+ years.

Presumable the assets would be created by independent artists and transferable to multiple games. The positive for game platforms is that it would increase value and decrease hesitancy by having assets that aren't as fleeting.

The problem I see is that the market driven model seems to have already lost. Its too profitable to sell cosmetics direct and have them locked into a single account vs a market model.

Companies will find a way to take advantage of this, by either having markets for it themselves where they get a cut or some other way.

The best reason I've heard for a blockchain representation of an in-game asset is it allows plausible deniability for resale of things on a market that might trigger having to comply with some laws. This lets them have the users "own" the asset and go to third parties and any transfers happen outside of them. But that's a pretty weak argument as just tokenizing it might be enough.

Companies will find a way to take advantage of this, by either having markets for it themselves where they get a cut or some other way.

The best reason I've heard for a blockchain representation of an in-game asset is it allows plausible deniability for resale of things on a market that might trigger having to comply with some laws. This lets them have the users "own" the asset and go to third parties and any transfers happen outside of them. But that's a pretty weak argument as just tokenizing it might be enough.

This what valve has. This is what MTGO had/has.

The model failed. No one wants a cut of the pie. They want to sell you the pie and then sell you the pie again.

Can you give us a run-down on what you've seen for CSGO item sales & how prices of these appreciate/depreciate?

It seems like a lot of the NFT world is re-inventing the wheel with digital items, yet starting with the item then building a community/gamification/speculation around them; I remember MMORPGs back in the day having items become very scarce due to players' dying in game and dropping them (plenty of them go for thousands of dollars - runescape items for example).

NFTs are and their cross-plaform functionality is being explored, but this does have the whole "whales can just get ahead in a game immediately" type of complaint. Aavegotchi is exploring ways to counter this, and has some cool game theory experiments going on in their DAO (early days atm). I'm curious what your experience has been like in CSGO and what the sentiment generally is with regards to high-value items, as it will probably have a lot of similarities to the maturation of the NFT world in crypto.

It is such a dumb ****ing idea, that I called dumb, but still bought into. I'm out of eth at 2k or 2.5k and cutting my losses.

the tech definitely gets worse as the price goes down

I mostly bought relatively cheap items(discontinued cases or event stickers for .04 cents to a few dollars) and held for months or years.

I started with $30 and have a valve index and several thousand dollars of stickers and cases in inventories. I don't sell on secondary markets for cash. Its enough of a pain in the ass already. I'm happy to have a valve index and a lifetime free steam library or whatever future valve hardware exist.'

Discontinued items increase in value over time almost without exception. The only failure I've had in that regard is buying thousands of Christmas stickers and hoping they don't add them the next year. I've had thousands of Ho Ho Ho stickers for years that haven't increased in value.

I still have a bunch of accounts with inventories, but don't buy stickers/cases anymore as its a lot of work. I'm assuming there are people with the skills to automate the whole process who have made boatloads of money. Even then it would be a lot of work.

As far as high value items in CSGO. That's a whole thing I never really got into, but that's the advantage of a market system and a game with what appears to be a 10+ year shelf life.

No one is paying thousands of dollars for a skin in a yearly cod title.

I think you have the potential to do very well in NFTs with your experience. That said, there are plenty of pitfalls, the biggest one being how strong the broader market strength correlates to these assets. BTC falling has historically just nuked everything, and for example someone trading NFTs that are priced in ETH, has seen the value of these NFTs depreciate in ETH. This could change and there are theories that market maturation will offer less ties to BTC price, but I won't make a prediction for when/if this will occur.

Specifically for NFTs, I have seen exactly what you're saying about discontinued items, which makes a lot of sense. My focus for any NFT purchase is:

1) "discontinued items" in an ecosystem that I'm prepared to baghold a while
2) network effect/strength of the community - will they dissipate/disappear in a bear market? If there's a strong chance the answer is no, either because the community simply feels that strong, or the dev team clearly appears committed to the long haul (very easy for this speculation to be dubious), then it might be worth it. If the prediction is that ETH for example has a ton of potential upside, and there's a great entry for an immediately discontinued item in an ecosystem, these can serve as leverage-long-ETH tokens.

As for exits, the NFT top we saw earlier this year suggests that for ERC-20 NFTs (ETH based), they may peak while ETH is moving up yet not at some sort of blow-off top quite yet. So perhaps the play is to exit some of this stuff for ETH later in the year, then sell off the ETH when it runs wild against both USD and BTC. But who knows!

I put up three sketches for free on opensea maybe a month ago and all three were "bought" today by different accounts. Two account names are random letters and they own exactly 1 high quality Japanese comic drawing, a mid quality drawing by me and a low quality animal drawing. Nothing else. The other account is "Unnamed" and only owns my drawing. Weird.

Is there anything non-meme/pixelart related stuff selling in the NFT space? Like stock photos or higher end photography?

What's the point of having stock photos as NFTs? The whole point is to speculate on something, not digital rights.

Platon has an photography drop coming through lgnd art soon

It’s irises of famous people he’s taken portraits of