10th anniversary art contest as NFT

[Husires]

I came up with this idea of making bitcointalk 10th anniversary art contest  as NFT, what do you think? Is it possible that there is an official market to sell it?
I expect this event to be worth some after a few years.

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[Little Mouse]

You mean minting NFT for the winning submission? If so, the owner of the creation can mint NFT and list on a marketplace. I really don't see here anything the forum could be involved. Maybe I'm wrong, I didn’t get what you mean.

[Charles-Tim]

NFTs are tokens, all tokens are altcoins, NFTs are altcoins. Even if there will be any price offered for such a thing, it will be in Bitcoin and nothing more but Bitcoin.

[Frengki_cisco]

There are several types of NFT tokens – which one you will want to use in Bitcointalk's 10th art event.
Type:
1. APENFT-(NFT)
2. NFT-(NFT)
3. NEFTiPEDiA-(NFT)

All three NFT tokens already have a sale market, so which one do you want to share.

Your idea isn't bad, but do it in the Bounty Altcoin section there where appropriate.

[Lafu]

I came up with this idea of making bitcointalk 10th anniversary art contest  as NFT, what do you think? Is it possible that there is an official market to sell it?
I expect this event to be worth some after a few years.

As Charles-Tim already have written in his post the only way that you can do something like that is that the price are in Bitcoin !
Would be making sense for the Bitcoin Forum here or ?

15. No on-forum altcoin giveaways. [6][e]

Most giveaway threads are no longer allowed in the Alternate cryptocurrencies sections. From now on, posting or replying to such threads could result in being banned. Existing threads will be locked.

Specifically, you are not allowed to give people any incentive to post insubstantial posts in your threads. You can't offer to pay people who post their addresses, usernames, etc. You can do giveaways off-site and link to the giveaway page in a thread, but you can't give people any bonus for replying to your thread.

Similar threads are already restricted to Games and Rounds in the non-altcoin sections, but the giveaway-related post volume is so high in the altcoin sections that I've decided to just ban them entirely here.

So i guess it will be not allowed for doing it even it maybe a good idea from you , but you have to ask theymos for that , but i can imagine that the rules will be taking effect here also !
Maybe you should read that here exactly : Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ

[dragonvslinux]

NFTs are tokens, all tokens are altcoins, NFTs are altcoins.

A few factors to consider here;

• Altcoins is slang for alternative cyptocurrencies, ie they are currencies
• Currencies/money requires a medium of exchange for goods and services
• NFTs are not a medium of exchange, nor traded for goods and services

Therefore not all smart contracts are medium of exchanges, no.

Even if there will be any price offered for such a thing, it will be in Bitcoin and nothing more but Bitcoin.

Fun fact: most NFTs are bought and sold with Ethereum, not Bitcoin.
Often because the smart contract is based on ETH 
Last I checked BTC doesn't have this capability.

Just providing info, no need for anyone to get their maxi-panties in a twist 

[Charles-Tim]

Last I checked BTC doesn't have this capability.

Even if Bitcoin has the capability, all the tokens will still be altcoins, but maybe such tokens can be considered but I do not think they would because Bitcoin remain bitcoin.

[suchmoon]

I expect this event to be worth some after a few years.

That's a great reason to do something. But why bother with NFTs, too much work. Let's sell satoshi's account, that's gotta be worth a lot.

[NeuroticFish]

Last I checked BTC doesn't have this capability.

Even if Bitcoin has the capability, all the tokens will still be altcoins, but maybe such tokens can be considered but I do not think they would because Bitcoin remain bitcoin.

No. Not altcoins. They're tokens. That's in my book lower than altcoins, since altcoins at least have their own blockchain, while the tokens don't even have that much.

For some this is bad. For others it's still money (which, why not, can be used to buy moar Bitcoin). I myself don't trust them enough and I don't care enough about NFTs, but there are quite a number of well thought and pretty much successful tokens too. If we keep our mind open we'll see that the world is bigger than we'd think and there may not always be only the absolute good and absolute bad.

[Bitcoin_Arena]

I expect this event to be worth some after a few years.

The event may be historical, but I doubt if the NFT hype can go on for even more than 3 years. Remember ICOs in 2017. Anybody talking about them now?

I think it isn't necessary, just like the suggestions of creating Bitcointalk token wasn't welcome when someone suggested it, given that this is a Bitcoin forum.

[Igebotz]

I came up with this idea of making bitcointalk 10th anniversary art contest  as NFT, what do you think? Is it possible that there is an official market to sell it?

Nice idea, however NFT tokens are worthless; if you're interested, you can mint some of my collections as well.  My Satoshi collections will be available soon. Good luck!!!

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[actmyname]

No. Not altcoins. They're tokens. That's in my book lower than altcoins, since altcoins at least have their own blockchain, while the tokens don't even have that much.

Whereas one may use altcoins for alternative network security/utility (imagine using a blockchain with security/latency appropriate to your needs) or tokens for utility/open mechanisms...

NFT's are like if you minted a new 1-supply token repeatedly.

What's funny is that eventually, you'll see people who want part-ownership... which will probably consist of a new ownership-token operating upon that 1-supply token as an ad-hoc solution. You're also trusting the minter to not create derivative works that usurp previous ones.

[NeuroticFish]

NFT's are like if you minted a new 1-supply token repeatedly.

Nice explanation!

You're also trusting the minter to not create derivative works that usurp previous ones.

This is imho a flaw. I'd say that this is one of the main reasons I don't trust NFTs. I think that - sooner or later - we'll end up with plenty of NFTs for the same "item", whether on same blockchain or - more likely - on different ones.

[Pmalek]

Remember ICOs in 2017. Anybody talking about them now?

Sure they are. They just changed the packaging, added some new colors, and started calling them differently. Now you have Initial Exchange Offerings (IEO) and Security Token Offerings (STOs). Once people become tired of those, they'll invent the next big thing, like NFTs.

What's funny is that eventually, you'll see people who want part-ownership...

There already is such a thing. It's called Fractional ownership. All credits go to slackovic who made a post about this in the Croatian local forum yesterday.

[Rikafip]

Sure they are. They just changed the packaging, added some new colors, and started calling them differently. Now you have Initial Exchange Offerings (IEO) and Security Token Offerings (STOs). Once people become tired of those, they'll invent the next big thing, like NFTs.

As a matter of fact, both IEO and STO are kinda thing of the past, and the latest and most popular thing now is IDO (Initial Dex Offerings), but the end goal is pretty much the same, to take money from naive, greedy and ignorant, like it was in ICO times.


Regarding NFTs, it's true that there is a shit load of hype around it that reminds of 2017 altcoins craze, but I think that they are here to stay and with the time we gonna get implementations that actually make sense, once we are over with this initial hype and bunch of useless crap.

[Pmalek]

As a matter of fact, both IEO and STO are kinda thing of the past, and the latest and most popular thing now is IDO (Initial Dex Offerings)

I guess we only need IFTFOs - Initial Face-to-Face Offerings to round up the freak show. Maybe next year.

Regarding NFTs, it's true that there is a shit load of hype around it that reminds of 2017 altcoins craze, but I think that they are here to stay and with the time we gonna get implementations that actually make sense, once we are over with this initial hype and bunch of useless crap.

I have a feeling people will get sick and tired of them like any other other hype crypto movements of the past. There is some potential in the industry though. Especially getting a chance to own an in-game character whose skills you have been building and developing for a long time. Once it becomes possible to import and export these characters between different games, it could be interesting to see what will happen.

But I still can't stop laughing when I see crap like MILF artwork and MILF NFTs. 

[The Sceptical Chymist]

Fun fact: most NFTs are bought and sold with Ethereum, not Bitcoin.

I don't doubt you, though I don't know much about--or care much for--NFTs.  However, one thing I do know is that if something can be sold, it can probably be sold for bitcoin if that's what the buyer wants to pay with.

From what little I do know about NFTs, which is basically the digital artworks that have been produced and sometimes sold for ungodly sums, I think they're being way overhyped and that the digital art is probably going to be near worthless once people either wake up to the fact that there's nothing inherently valuable about it or if the economy goes south and suddenly people lose interest in such frivolities. I mean, do digital comic books have any resale value?  I get that NFTs aren't reproducible like comics are, but to my old school eyes there's absolutely no difference.

But hey, if anyone wants to create one of these things for bitcointalk's anniversary, go for it.  I wouldn't want it, but that doesn't mean someone else wouldn't think it's a nice piece of crypto history and a good way to celebrate the forum.

[Rikafip]

I guess we only need IFTFOs - Initial Face-to-Face Offerings to round up the freak show. Maybe next year.

Haha might be. It's a common misconception here on bitcointalk (I thought the same until I started to dig deeper ) the ICOs died out and that they are not popular anymore, while in reality they just changed the name, adjusted approach and are definitely playing the smarter game than in 2017, even though end result is usually the same- people loosing money. The fact that they don't need bitcointalk anymore for marketing their crap is probably giving that impression, there are more efficient platforms for that nowadays.

There is some potential in the industry though. Especially getting a chance to own an in-game character whose skills you have been building and developing for a long time. Once it becomes possible to import and export these characters between different games, it could be interesting to see what will happen.

Yeah, that's the implementation I am most interested in, gaming. But not in some shitty browser games like Alien Worlds which are just using NFTs to attract crypto speculators, but in a real AAA PC games where NFTs are utilized in a meaningful way and focus is on gamers. Since creation of such game takes at least 3-4 years and tens of millions of dollars, it will take some time before we get something good, but I am really looking forward to it.

[Pmalek]

<Snip>

What I don't understand is how these collections manage to reach such a huge price. Take a look at this Donald Trump piece for example. It was sold for $6.6 million. Sure, it's funny, looks ok, and if you are anti-Trump you would like it even more. But over $6 million, really? When you buy a rare picture, you have the only piece, no one less can touch, smell, or look at it unless you allow it. This thing is available for free, you can download it from the link I posted. Why the need to be in possession of its ownership rights?

[Charles-Tim]

Fun fact: most NFTs are bought and sold with Ethereum, not Bitcoin.

I don't doubt you, though I don't know much about--or care much for--NFTs.  However, one thing I do know is that if something can be sold, it can probably be sold for bitcoin if that's what the buyer wants to pay with.

No NFT yet built on Bitcoin blockchain, if there are NFTs on Bitcoin blockchan, Bitcoin will be used to purchase it. I do not know if there are any changes yet, also I do not know about NFTs on exchanges, but if you want to purchase NFTs, you will have to connect your wallet, example is connecting your ethereum wallet like Metamask to OpenSea in which Ethereum or ethereum tokens can be used for the purchase. So, bitcoin can not be used for the purchase. It will be great if NFTs can be built on Bitcoin blockchain, likewise DeFi.

This thing is available for free, you can download it from the link I posted. Why the need to be in possession of its ownership rights?

You can access the digital artwork but only the person that have the ownership right can access the NFT (token) because the person will be the one that has the private key. But I understand your point, it sounds crazy to me too as the digital artworks are just available to everyone, the token should worth nothing as the digital works are available freely to anyone that want to access it, but rich people can make some things possible.