Seth Green's NFT show trailer

Seth Green's NFT show trailer
youtube.com/watch?v=kHHT5iUeV8g

Attached: Bored Ape.png (1036x628, 902.58K)

I still haven't the slightest clue what an NFT is.

Attached: 1655251116482.jpg (534x497, 99.63K)

You know those 'Your Character Here' commissions some artists do where you can pay to have artwork of your character drawn into a generic template?
It's like that, except you get a meaningless certificate saying that you own it.

You pay for jpegs

It's literally paying for a url link to a jpeg you own. Which is why it crashed, because it's meaningless.

Ok right, so NFT stands for Non Fungible Token, which means it's something you buy that is completely digital, has no physical component whatsoever, now for what Seth here is basing his show on is the fact that these NFT's can serve links to images, these images are normally made out of a shitload of pre-generated parts, so Seth's Ape has a halo, because when it was generated from the library of different mr potato head chunks that make up Bored Apes, his got a halo, a certain hair colour, stuff like that.

What can you use NFT's for? Well NFT's are stored on the blockchain, which is like a big list of every transaction ever made with NFT's, this lets you

And then individual NFT collections give certain rights, Bored apes gives copyright to the holder of the NFT which is what Green is using to make the show (Note that despite this, because it's a mr potato head, there are a shitload of boredapes that are identical bar one detail to Seth's ape, like background colour.)

He also had to pay $260,000 because his ape was stolen (because the blockchain is meaningless) and someone else bought it.

You know how furries have adoptables? People buying the supposed "rights" to an image/character that they don't actually own, and that people already?

It's like that but instead of autists who are bad with money it's redditors and rich celebrities who are bad with money. The only real use for them is status among the 10% of people who aren't annoyed by them, and the potential to resell them at a higher price (although the whole thing is formatted like a MLM scheme, so it's very unlikely). Outside of that, they're basically a jpeg, they're pretty worthless, and despite supposedly being "secure", there's tons of security holes with it.

Plus many NFT enthusists are very... nieve, to say the least. It's almost on the level of Scientology how much celebrities worship these things; Seth green's ape got stolen and instead of taking it as a sign that they could disappear at any moment, he paid ANOTHER $300,000 dollars for a ransom.

Attached: nft.png (749x1132, 730.69K)

Trading cards + crypto shit
Something that appeals to rich twats

Nice Fucking Titties

it's like buying a star

Same even when I have looked it up and read the wording of what it is it simply boggles my mind that it exists and constantly makes me forget the concept because my mind wants to delete the useless pretentious information behind it...

Here's what Ive gathered:
>You pay for the digital image
>It now its your image no matter what so it skips copyright ownership and is in a questionable area?
>Supposedly some digital code shit is in it as proof?
Now the dumbest and obvious shit Ive noticed is:
>Then the creator makes 50 other version like yours but with a slight difference until some gullible faggot buys one again, rinse and repeat.

No. You pay for a custom link to a jpeg.

Now here's the rub, literally nothing i just said matters, NFT's are basically biggest sucker scams, so, you know how i said the blockchain keeps a record of every transaction? if you're a scamming dickhead, you might say something like "Hey, couldn't i trade an NFT between some accounts i make to make it look like it's got far more demand than it does?" and the answer is yes! Completely! NFT's a market wherein the asset is, literally by design, completely fucking useless, making it an ideal place to attempt to sucker rubes into parting with their money for incredibly little upfront risk, and a marketplace that actively encourages scams through a mix of financial anonymity taken to retarded extremes (hence 'wash trading' and the fake inflation scam i described earlier)

This is also true, iirc, someone deposited an NFT that was able to execute a small program that transferred the ape to a holding wallet, with another account then buying it, making it incredibly difficult to revert because reverting a purchase made by a rando third party is no Bueno because there's literally no difference between fenced and unfenced goods when it comes to an NFT (this is assuming it wasn't the same guy running both accounts, which it totally was)

This is literally an attempted pump and dump and I hope everyone involved dies in poverty.

LOLA BUNNY NFT

Attached: LolaBunnyNFT.gif (270x338, 3.79M)

Yes

How embarrassing

So why doesn't someone buy the stock pre-generated parts to then charge more when they are used in NFTs? They're even less unique than someone copy and pasting them if people just generate them from a kit.

Wow, now if only this was like, an actual thing that I could buy instead of a looping GIF.

So the reason nobody's tried that yet is because the cost of creating your own set of variable bits for an NFT (like hats, skin colour, accessories, etc), is because it's really not that expensive to commission an artist to draw say, 50 hats, 50 accessories, and 50 facial expressions, if they bought it from someone else, there'd also be more concerns about copyright (which is already rife, because as it stands it's not entirely clear if anyone can own the rights to AI generated images like NFTs)

Take a generic common image like a humanoid monkey guy, make it ugly, then uglier, then alter it very slightly in a 100 or million different ways,
Such as changing it's colors, clothes, hair, expression, hand/finger positions, eyes
And more.

Then encrypt the code for that image, put a image blocker over half/most of the image, and sell the full unblocked image for anywhere between 1$ and a million $.

Aka a bigger failure then crypto (which is currently going to zero for past few months).

Its money laundering

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That fact by itself is funnier than anything they would have ever written into the show.

Nobody does, don't worry.

>physical nfts
>what is artwork?
Frickin crypto fags.

Are you old enough to remember those scams where you could call up some phone number and "register a star name", and thus name a star after your girlfriend or something? They'd send you a certificate and everything. Problem was no international astronomy organization recognized it and it was a huge scam, but you did get a certificate.

It's basically that but with jpgs.