Hypocrisy I guess
But it's good to see NFT receiving backslash
Hypocrisy I guess
But it's good to see NFT receiving backslash
people will say there are green ways to make albums, but there are also green ways to make and sell NFTs. By the way, that doesn't mean that both are ecological, just that they have less carbon footprint than the conventional way.
NFTs in july 2022
Nfts are literal scams, bulk buying isn't comparable to nfts
There's a difference between knowingly bulk buying and either getting an album or "donating" it to boost sales. At worst you spend/waste money off your own accord, it’s directly your choice.
With an nft many are scammed for their money either because they don't know what it is, the creator is involved in some kind of get rich scheme which works with gullible buyers or it flops and buyers involved lose their money because the original products are gone or duplicated. They're they're so volatile and poorly implemented people lose money through through ways they have no control over.
human's are hypocritical at the end of the day.
I have literally never seen a positive opinion of NFTs. The hate for them is universal.
Nfts are literal scams, bulk buying isn't comparable to nfts
There's a difference between knowingly bulk buying and either getting an album or "donating" it. At worst you spend/waste money if your own accord
With an nft many are scammed for their money either because they don't know what it is, the creator of it steals investments or it flops and everyone involved loses out. They're they're so volatile and poorly implemented people lose money through no fault of their own.
You're mixing concepts. NFT only stands for digital tokens, what you do with them is up to you. those NFTs discussed here aren't supposed to hold value, they are like photocards that aren't expected to be resold for high prices because they aren't unique pieces, they are going to be mass produced for people who buys thosands of albums.
Kpop companies are trying to using the next buzzword to attract hype but of course they are clueless
You're mixing concepts. NFT only stands for digital tokens, what you do with them is up to you. those NFTs discussed here aren't supposed to hold value, they are like photocards that aren't expected to be resold for high prices because they aren't unique pieces, they are going to be mass produced for people who buys thosands of albums.
Kpop companies are trying to using the next buzzword to attract hype but of course they are clueless
So what's actually being sold in this case? If fans get something extra with an album you buy then it's not an nft really since it's included. Or do you mean they get like a download code they pay extra for an nft because that would be like the scam I mentioned.
As for holding value that doesn't matter. If you pay for an nft but others can easily copy without much legal issues it then it has no value, you got scammed.
I have literally never seen a positive opinion of NFTs. The hate for them is universal.
Exactly my thought. Except for crypto bros and corporate heads that think they can make money off it, does ANYONE actually like NFTs? 
people will say there are green ways to make albums, but there are also green ways to make and sell NFTs. By the way, that doesn't mean that both are ecological, just that they have less carbon footprint than the conventional way.
There are ways to make eco friendly albums there is no way to make eco friendly nfts. Why? Because the nature of the technology. Bitcoin and other Blockchain technology like nft require vast amount of energy as most electrical services run on fossil fuels. The only way you'd get eco-friendly nft is if you magically got them all to move their computer systems to some solar and wind farm hydrodam service
This whole argument is meaningless as albums aren't scams, NFTs are. NFTs are a literal ponzi scheme. Tulip buds, anyone?
NFTs are criticized even outside kpop communities.
I have see social media artists lose their careers over night bc they dabbed in NFTs.
So what's actually being sold? If fans get something extra with an album you but then it's not an nft really. Or do you mean they get like a download code for an nft because that would be like the scam I mentioned.
As for holding value that doesn't matter. If you pay for an nft but others can easily copy without much legal issues it then it has no value, you got scammed.
You're missing the point of why NFT can be considered a scam.
First: Digital art has value, I can buy a digital copy on a drawing or painting to support the artists work and because I want to possess a copyrighted version of their work, otherwise I'm pretty much stealing their drawing. It's somewhat a grey area, but paying for digital things (music, painting, books) is a thing for over 15 years now.
NFT can be used as a way to trade digital things for money without being considered a scam. An artist can sell photocards using NFTs, that's not the concern. The concerns are two:
1) First, the ecological concern: NFT generally uses a very computationally expensive blockchain network, that uses far more energy than it was necessary for such random and meaningless transitions. I'll skip explaining why such networks are so power-hungry, but accept they aren't scalable and were NEVER designed to marketplace transactions, it's virtually impossible to use NFTs as a large-scale trade-system, but people are using it regardless because they want to embark in the hype. TLDR: NFT aren't needed to an digital art/photos marketplace, there are THOUSANDS of better options that don't destroy the environment in the process.
2) Second, the economic concern: NFT is considered a scam because people buy things thinking of it like a real world goodies. Imagine you are releasing a time-limited collection of Stranger Things's shirts, people want to buy those shirts ASAP so they can resell it for high prices in the future. People are (forcefully) trying to make the same with NFTs, selling crap monkey arts as something of incredible value and exclusivity, when it reality such products have no value. Their value is the HYPE created by the NFT buzzword. People pay high prices in NFTs, expecting them to be resold in the future in some sort of pyramid scheme. Lazy people who believes money comes easily then buy those crap NFTs and months later realize those NFTs worth shit, so it's a matter of who are the sharp people that sells faster their shit to dumb people.
Selling thousands of photocards in my opinion only enters on the first concern, the ecological one, where energy resources are wasted in a very useless matter . Unless the company purposefully sell only a few copies of that photocard to create an attempt of exclusivity/rarity so non-fans would go crazy to buy those NFT photocards to resell them to desperate fans latter, which I don't think it's the problem here but I digress.
Display MoreYou're missing the point of why NFT can be considered a scam.
First: Digital art has value, I can buy a digital copy on a drawing or painting to support the artists work and because I want to possess a copyrighted version of their work, otherwise I'm pretty much stealing their drawing. It's somewhat a grey area, but paying for digital things (music, painting, books) is a thing for over 15 years now.
NFT can be used as a way to trade digital things for money without being considered a scam. An artist can sell photocards using NFTs, that's not the concern. The concerns are two:
1) First, the ecological concern: NFT generally uses a very computationally expensive blockchain network, that uses far more energy than it was necessary for such random and meaningless transitions. I'll skip explaining why such networks are so power-hungry, but accept they aren't scalable and were NEVER designed to marketplace transactions, it's virtually impossible to use NFTs as a large-scale trade-system, but people are using it regardless because they want to embark in the hype. TLDR: NFT aren't needed to an digital art/photos marketplace, there are THOUSANDS of better options that don't destroy the environment in the process.
2) Second, the economic concern: NFT is considered a scam because people buy things thinking of it like a real world goodies. Imagine you are releasing a time-limited collection of Stranger Things's shirts, people want to buy those shirts ASAP so they can resell it for high prices in the future. People are (forcefully) trying to make the same with NFTs, selling crap monkey arts as something of incredible value and exclusivity, when it reality such products have no value. Their value is the HYPE created by the NFT buzzword. People pay high prices in NFTs, expecting them to be resold in the future in some sort of pyramid scheme. Lazy people who believes money comes easily then buy those crap NFTs and months later realize those NFTs worth shit, so it's a matter of who are the sharp people that sells faster their shit to dumb people.
Selling thousands of photocards in my opinion only enters on the first concern, the ecological one, where energy resources are wasted in a very useless matter . Unless the company purposefully sell only a few copies of that photocard to create an attempt of exclusivity/rarity so non-fans would go crazy to buy those NFT photocards to resell them to desperate fans latter, which I don't think it's the problem here but I digress.
No you're totally misunderstanding what an NFT is.
Buying an nft is NOT the same as buying digital art (or buying anything really).
Buying means you legally own that, it's yours to do whatever and if someone who copies it or pirates the product is committing a crime. Buying digital goods like games can have the same rights as physical media.
Nft is buying an analogue to a certificate of a ownship, NOT ACTUAL ownership of the product itself. There have been numerous cases of people selling nfts of their art and then others simply copy pasting a duplicate thus rendering the ones bought utterly worthless (why pay for something that is designed to be fully unique when literally anybody can the have the same thing for free), or the original creator removing their art altogether leaving the buyer with nothing. This happened to some dumbass who spent thousands money on these money pics. Hell Ubisoft Games flopped when they tried to implement NFTS because surprise surprise gamers were unwilling to buy them as micro transactions have been a cancer in the games industry for much longer. NFTs aren’t even as useful as micro transactions so having to pay for super exclusives is an excellent way to piss off players.
The artists who made a lot of money did so by either scamming or gaming the system. Buyers may pay outrageous amounts like monkey dude for bragging rights and a hope they will increase in value rather an actually valuing artwork at that price, or it's a money laundering scheme where they sell to another person or company for a silly amount to artificially increase its hype and value and then it's sold later for even higher because some rich idiot thinks high price = high value. So a generic artwork from smaller names that have pieces sold for millions than it would under normal circumstances aka a text book example of a scam. There are the theories that it is a form of money laundering for gangs especially if the art is traded multiple time with ever increasing prices.
As for environmental issues yes that's a big one. Every transaction uses a lot of computation which uses a lot of electricity.
Like I said if the photos are part of the album in some form then it's not an ft. It’s been a standard for years. If they have to pay extra for them and it’s allegedly limited in number then that’s a big red flag, as soon as the photo set is posted on the net for anyone to copy and download having paid for exclusivity becomes totally meaningless.
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