I got asked this question on the Why Bitcoin discord server.
SevenFootFiend — Today at 12:57 AM
George (just joined the server) creates NFTs on bitcoin. I also dont ubderstand the value. But would like someone to try to explain why they work.[12:57 AM]@George Saoulidis you interested in explaining to a bunch of toxi maxis? Or would ypu like to come on the show for an episode?
George Saoulidis — Today at 2:08 PM
First off, yes I do agree there’s a massive bubble right now in NFTs. So it’s easy to just ignore the noise and group everything into trash. But it’s the same as cryptocurrency, too much noise and wild claims.
The argument of “I can just copy it so what’s the point” is exactly like saying I can print a Picasso for 30 euros so what’s the point in a collector paying 5 million euros for the original. There is no point, other than owning the original with the artist’s signature. Picasso touched that painting and signed it, and says this is mine I guarantee it.
An artist digitally signs an NFT and says, this has perceived value now. As far as I’m concerned, you own the artwork of which the NFT you’ve bought.
I’m with you, I scroll through the galleries and see the cryptomonkeys and the etherocks and shake my head in disbelief at the prices. But for artists, this is a way to cut out the middleman, art collectors, art galleries, gatekeepers, even censors, and to sell to an audience directly.
As for our stuff, Raretoshi is running on Liquid BTC. It’s still early but it’s promising. I have made some sales, you can see my gallery here https://raretoshi.com/artist/glowleaf
(Other links here https://mythographystudios.com/crypto/)
When beeple sold his record-sale of 69 million dollars, I read some article where it said that he hadn’t made a sale over 100 dollars before. That’s incorrect. I actually licensed his artwork a few years ago for my book cover artwork and paid a bit more than 100 dollars. Beeple was very enthusiastic and helpful, and gave me access to his dropbox folder so I could have high-res pictures where he uploaded every day like clockwork. Very inspiring, and it’s the reason I started doing 3D artwork myself, almost every day. https://georgesaoulidis.com/get-some-of-my-books-with-beeple-cover-art/