How do artists get paid?

by @edent | , , | 2 comments | 1,150 words

Binary code displayed on a screen.

NB: The bit about NFT and smart contracts is at the end. As I discussed yesterday, being able to resell digital art via an NFT means that the price of art falls to zero. Let's assume that I'm correct and, through a combination of technology and changing social attitudes, no one wants to pay for…

NFTs means the future value of art is zero

by @edent | , , | 600 words | Read ~483 times.

Binary code displayed on a screen.

At the moment, it is not possible to sell a 2nd hand eBook or MP3. This seems fairly reasonable because a re-seller might keep copies of their original files after selling them. This would allow the re-seller to undercut the original publisher and sell the file multiple times. We tend to label this "Piracy". Someone…

An NFT without a Blockchain. No gas fees. No Eth. No gatekeepers

by @edent | , , , | 7 comments | 800 words | Read ~9,325 times.

A blocky image of Rembrant.

This is a small proof-of-concept. It relies on PGP - but you could use Keybase, GPG, or any other hard-to-use encryption program. Background Suppose you want to support an artist and give them money. That's easy. Most artists take PayPal, bank transfer, or cash. But how can you prove that you've paid an artist for…

Investing In People

by @edent | , , , | 2 comments | 650 words | Read ~239 times.

A tiny lego Storm Trooper eats a chocolate coin.

David Bowie invented the NFT in 19971. The "Bowie Bond" allowed you to directly invest in an artist's catalogue and receive royalty payments based on their sales. Here's how it worked2: You pay money to the artist (Bowie) Artist uses that money to buy the rights to their back catalogue Every time one of the…

What happens if you steal someone's Good Tweet™?

by @edent | , , | 500 words | Read ~226 times.

Fraud alert warning signs.

Way back in the early days of the Social Web, the writer Cory Doctorow invented Whuffie. Think of it as a way to formalise "upvotes" and "likes" on social media. Whuffie, a form of digital social reputation, replaces money and is a constantly updated rating that measures how much esteem and respect other people have…

Stop this digital ownership madness. NFTs are bullshit. And the stupid makes me angry.

by @edent | , , , | 16 comments | 850 words | Read ~15,937 times.

Fraud alert warning signs.

(A hastily written and grumpy post.) Another day, another Blockchain Bullshit project. Alright, I got this Lady_Crypt0. The NFT (Non Fungible Tweet) is headed your way. — NFT Tweets Transfer (@tweet_nfts) February 14, 2021 Someone "claimed" one of my Tweets and added it to the Blockchain. I'm not particularly happy about that. Nor am…