To NFT or Not to NFT - Working On My First NFTs
I've been sitting on the NFT sidelines since Crypto Kitties back in 2017. One of the problems I have always struggled with was the value aspect. Sure, short term hype, demand and first mover advantage will always give something value, but with time that value usually fades as the trend ways.
A physical asset, like my MS 1886 Morgan Dollar, has several values, collectability(art, historical, etc.), numismatic and silver spot. I guess it could be fungible too if silver went high enough and it made sense to melt it down into smaller unit weights.
One aspect I do understand is simply ownership. Take for example our HIVE accounts. For many of us there are years of work on our blogs. Most are personal blogs, but they have immense personal value. They also have monetary value depending on how much HIVE you own. So the owner key holds value, like the deed to your house shows ownership value. This I get.
As I work to understand and provide value to my first NFTs I think I have come up with an idea. It came to me when looking at Pinmapple.com while working on a post I have yet to finish. I realize I am in a unique position living in Tokyo, especially during the ban on tourism. I get to go see, taste, photograph places many people around the world wish they could too.
Earlier this week I was in Shibuya and was able to take some of the most incredible pictures & video I've ever taken. It was from about 1 hour before sunset to 1 hour after. Another right place at the right time. I don't want to give away too much because it's part of the post I am working on, but I am going to take some of the photos and put them into an NFT series. I'm fairly experienced with photoshop & GIMP so I may alter some as part of the series.
Here's a teaser.
I'll be heading to Shinjuku today or tomorrow to get the second subject in my Tokyo series.
As far as platforms go, I want to use HIVE of course, but I don't think what I want to do will work with NFT Showroom. My brother has been building https://adatokenizer.io so I may go that route. I'm still researching the best route for what I want to do though.
In the meantime, I'd really appreciate hearing your thoughts, ideas or information regarding NFTs.
NFTs are an odd phenomenon with much of it I believe to be speculation and overvalued which may lead to an epic bubble or leave people holding assets they can not sell.
I agree, but there definitely will be winners. Since we are still in the infancy of it I think it's difficult to really grasp the potential. Some thing the piece itself is the value, some think the function, and some are coming up with new use cases everyday.
I was looking at some NFTs on https://foundation.app and some of them are very interesting, some of them sold for ridiculous amounts and others will be left to the dustbin of blockchain history.
I'm leaning to additional functionality beyond just the NFT itself. For example my brother was telling me buying an NFT from this one artist granted you access to his virtual gallery, I believe in VR. That is a really interesting idea. That's the type of NFT that would interest me. In fact, I'd really like to copy that idea!
Cheers.
Terra World has that, I just posted about it today too 🤣 their launching a gallery