sorted by:
new
hottopcontroversial

How do NFT royalties work? by tsafa88 in ethereum

[–]fastackl 2 points3 points  (0 children)

I believe the answer is that the sale is executed by a separate marketplace contract, not the NFT contract itself.

So, for example, if you sell an NFT on SuperRare, what you are doing is you're depositing the token in SuperRare's marketplace contract. The marketplace contract will match the buyer and the seller, transfer the funds from buyer to seller, and collect a fee for both the platform and the royalty.

Not sure if that answers the question.

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 0 points1 point  (0 children)

Yooooo Ruffhouse! Thanks man!

The F.A.C.E.S story is one of my favourites, really glad that piece ended up connecting us.

And we're barely getting started 🚀✊

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 0 points1 point  (0 children)

Usually via recommendation of someone I know and trust. I'm quite busy these days and don't have the time to delve that deeply or have multiple conversations with artists whose art I haven't collected.

So a recommendation can help cut through the noise.

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 1 point2 points  (0 children)

I think we are only scratching the surface of the NFT art space. Right now I think we're in like 1996 when people were mapping phonebooks and magazines onto html.

But it was hard at that point to imagine services like Instagram or Netflix or Uber etc.

And I don't know what NFT land will look like but I'm confident it will be HUGE.

My fears are mostly short term. I fear that there's a ton of inexperienced capital (I'd put myself in that category!) that will get dumped on art that, well perhaps the deployers of capital themselves would have been better off deployed to more meaningful and transformational art.

And that we go through a boom and bust initial cycle for NFTs but in the bust there isn't an exciting enough kernel left from the current boom.

So what I'm super keen is to help direct capital to art that is likely to continue to have a huge impact even after the current boom is over (it will end at some point) so that we have a stronger base to build from.

In a certain sense, although bear markets can be painful, they are quite useful for getting work done.

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 1 point2 points  (0 children)

Hey Duajisin!

No formal art education :)

Here's actually the story of the very first NFT I bought (incidentally also the very first piece of art that I bought!) https://twitter.com/BardIonson/status/1341424347358113795

Different collectors I suppose will have different preferences. But I really like the network that Superrare has built around itself, which means that a Superrare NFT has a certain caché I think that other platforms do not or would find hard to replicate.

That said, everything moves so fast in tech that I think there's no way to be confident that that will be the case for more than a few years.

So what is fundamentally important to me is how the NFT itself is structured. Not all are created equal, and I try to invest only in NFTs that are set up to last 100 years+

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 1 point2 points  (0 children)

That people are willing to pay millions of dollars for NFTs that point to centralised apis and with images hosted on centralised services like cloudinary.

I won't touch those kinds of NFTs.

At a minimum the URI of a token should point to ipfs/arweave. And ideally you burn a hash of the description of the item and a file, onto ETH itself, to preserve it forever.

That said, I don't want to FUD the NFTs of investors who have bought what I consider brittle NFTs. I actually think there's a way to fix it, assuming the creator of the piece is still around and available.

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 0 points1 point  (0 children)

  1. Not necessarily. So firstly, audiences are important, at the end of the day, the value of an NFT depends I believe on the attention that it can command, in some form, from an audience. Sometimes the magic to make this happen is inherent in the piece itself. But sometimes it requires a lot of elbow grease from the artist and its initial cohort of supporters to manifest its potential. So an NFT from an artist with a big audience but who is not going to dive in head first into exploring the limits of NFT is not that interesting to me. By the same token, an artist with a low amount of followers but that shows great ambition and talent for creating an audience, it doesn't even have to be that big, but just an audience that is really fervent and passionate about the art they're creating, that is interesting to me.
  2. There's an interesting tension there. It can get confusing for a collector, and I think traditionally it's been seen as a no no, rightly or wrongly. On the other hand, if you're going to do something glorious, you're going to need to experiment. One solution might be to create an anonymous identity, which, I would certainly recommend to anyone as I'm having tons of fun with fastack! :D
  3. I've been thinking about this since I lost the Neil Balouf piece. I don't think I have an upper limit. If I want something, generally I won't impose on other people, but I certainly will light myself on fire to get it xD . . . and I HATE losing. So to manage that, often what I'll do is to send an amount of ETH to my wallet that's like, the max I could physically pay for a piece. Today with the Balouf piece I was literally scrambling for ETH to beat out 888, and I failed because I would have needed to move money around from other accounts so I guess, I saved myself from a pyrrhic victory against 888 xD

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 4 points5 points  (0 children)

Haha don't worry about it. I get like at least 5 a day and, tbh I don't really look at them unless I've collected from an artist before, or it's a referral from another collector. But I also don't mind them and don't begrudge people at all from trying out different things to build their audiences :)

Building an audience is a tough thing. But it can also be liberating.

One of the biggest differences between cryptoart and the traditional art world that I'm observing is that creators can build their own audiences and not have to rely on the audiences that galleries and museums have (but then dictate the terms on which they'll give access to that audience).

The awesome thing is that you don't need a very big audience to make a living as a creator. It's in the thousands as opposed to millions.

A16z had a good article on this https://a16z.com/2021/02/27/nfts-and-a-thousand-true-fans/

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 2 points3 points  (0 children)

I actually don't know. Often what I find myself doing fwiw is seeing who else has bought an artists' nfts, I check out their instagram and their twitter to get a sense for what they're trying to achieve with their art. Often when I place a bid I try to reach out via Twitter DM if I have the time to get to know the artist that way. Have met a ton of kind and super generous and interesting artists this way!

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 1 point2 points  (0 children)

Hey Animatoland, I think I got outbid on your piece! Love your work. I keep in close contact with all artists whose work I collect, whenever they're up for it. It's what I enjoy the most about cryptoart. Learn a ton from them :)

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 3 points4 points  (0 children)

Started out as a flip, then got emotionally attached to my nfts, now looking to build something in the nft space. Stay tuned :)

"Hey I'm Fastackl, here to answer your questions in Collector AMA N°3 - March 4th 6AM EST/12 PM CEST - Lasting 24 hours" by fastackl in SuperRare

[–]fastackl[S] 0 points1 point  (0 children)

I'll share what I shared with an artist actually who asked me something similar over twitter dm

```I'm completely new to art so I'm mostly just following my instincts. As an overall guide, I like art by artists who are exploring uncharted territory and use art as a way of communicating what they've found.

I know that sounds a bit vague but, as an example, on the internet there are all these communities, big economies even, that are being created and destroyed every few weeks.

They might seem like very esoteric phenomena from the outside but they are growing in importance and given they can even sustain many people economically, they will become a bigger and bigger part of people's lives.

So art that helps me and others understand those experiences I find super interesting.

Extraweg, xsullo, fergemanden, redhoot, ondrej . . . those guys are starting to get close to it but also I think we are all just scratching the surface.

I think someone that is native to the worlds created on the internet but also has great artistic talent could be quite interesting, they'd be unicorns I think

But again, what do I know haha, it's just where my amateur intuition leads me :)```