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2023 4 Star Safety - Jayden Bonsu, NJ - Committing 08/14 @ 4pm

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Liberty City El said:
A NFT is a Non-Fungible-Token that has a specific digital signature or another form of certifiable marking that distinguishes that particular piece of art as a form of non duplicated unexchangeable asset.

It creates a digital blockchain for specific forms of artwork or music that allows you to buy & sell assets with exclusivity from the certified artist. Or in other words, it’s like a digital patent that allows you to buy & sell art knowing that it’s authentic coming from the original source & not pirated or forged.

It’s way to sell Art through Blockchain & Bitcoin without being scammed.
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I think from a bigger picture it’s a way to buy and sell culture through blockchain. The new potential being that you can finally quantify culture which previously was fairly intangible. It doesn’t have to be art and music. It can a moment in time an event or a derivative of the any of what I mentioned. It has a long long way to go but I strongly feel it’s not a fad. When it’s all said an done NFTs could come and go but this is the foundation of something big moving forward.
 
It reminds of my sneaker days. The idea on the surface level was to buy and sell sneakers for a profit. You can get an exclusive sku for retail price but after the fact when the hype took hold the secondary market price was many times higher if the kicks were right. Soon enough the retail end ran was distinguished and that sku only lived in the secondary market. That part is easy but there was an extra layer. Once those kicks were no longer dead stock ie I wore them they lost value but wearing those out in the right circles gave me intangible value of just being that dude. There was a status that came with it. So now imagine taking that status digitally to a market place that can now but a price tag on that value.

Think of it this way, say Bonsu blows up goes to the league and is a Pro Bowler and you bought his NFT. It’s like having 1) a rookie rookie trading card of his 2) if he keeps up with that NFT he can offer you exclusive perks through owning that. Like exclusive access to all sorts of perks 3) as more players get involved it’s a time stamp that you believed in said player.
 
bobbydigius said:
I think from a bigger picture it’s a way to buy and sell culture through blockchain. The new potential being that you can finally quantify culture which previously was fairly intangible. It doesn’t have to be art and music. It can a moment in time an event or a derivative of the any of what I mentioned. It has a long long way to go but I strongly feel it’s not a fad. When it’s all said an done NFTs could come and go but this is the foundation of something big moving forward.
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Absolutely... I simplified it so as to not confuse people with too much technical detail

But it’s basically a way to curate & appraise assets with an increased valuation in the market without losing any of the initial value due to speculation or bid-rigging. It removes the high premium placed on namesake & prestige & allows for someone to capitalize off their own accredited intellectual property without having to sacrifice backend residual ownership.

The best thing about NFT’s is they can maintain their value in perpetuity, which particularly for Art & Music is a game changer in the Digital sales world. Because music’s value was always based on record sales & actual CD’s/Vinyl etc sold, now in the streaming era music doesn’t really have any value in the long term except in licensing; meaning you make more money selling your song to an AD company for a commercial than you do owning the publishing to a record that never actually gets played.

The art market is very similar in that simply painting/drawing a nice picture & selling it to a gallery doesn’t really make any money; NFT’s allows you to sell your paintings/drawings digitally & make money on them as if it’s a streaming song as opposed to just having it hanging on some art gallery wall.

The NFT market will really get crazy once people learn how to sell their streams, I mean technically they already do on twitch & other sites, but I mean that actual watch-hours itself will be monetized eventually, so you’ll see people streaming & getting paid by the second, quite literally.
 
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Liberty City El said:
Absolutely... I simplified it so as to not confuse people with too much technical detail

But it’s basically a way to curate & appraise assets with an increased valuation in the market without losing any of the initial value due to speculation or bid-rigging. It removes the high premium placed on namesake & prestige & allows for someone to capitalize off their own accredited intellectual property without having to sacrifice backend residual ownership.

The best thing about NFT’s is they can maintain their value in perpetuity, which particularly for Art & Music is a game changer in the Digital sales world. Because music’s value was always based on record sales & actual CD’s/Vinyl etc sold, now in the streaming era music doesn’t really have any value in the long term except in licensing; meaning you make more money selling your song to an AD company for a commercial than you do owning the publishing to a record that never actually gets played.

The art market is very similar in that simply painting/drawing a nice picture & selling it to a gallery doesn’t really make any money; NFT’s allows you to sell your paintings/drawings digitally & make money on them as if it’s a streaming song as opposed to just having it hanging on some art gallery wall.

The NFT market will really get crazy once people learn how to sell their streams, I mean technically they already do on twitch & other sites, but I mean that actual watch-hours itself will be monetized eventually, so you’ll see people streaming & getting paid by the second, quite literally.
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Once you take away the speculative part of NFT, which one can’t deny Is the unintended nature of them, the culture vulture as Dame called em, they will flourish. The biggest part is that the majority aren’t in it for the money. They are real fans. Whether it’s a comic book NFT like Huxley or it’s Solana’s Miners of Mars NFT rpg like game. They love this **** and care more about the project itself than a get rich quick scheme.
 
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Liberty City El said:
I’ll simplify it the best I can:

If you wanted to buy or sell a piece of artwork or music online without using cash which is fungible, you could sell it with Bitcoin or ETH.

Now, how do you know what you’re buying is real? Because there’s a digital signature of this particular asset that is only specific to the seller/buyer that cannot be replicated; it’s like an insignia & within this insignia is the verification that what you’re buying/selling is 100% yours. That’s a NFT.

So as a way to maintain the value of the asset without it being devalued by the exchange you use a NFT as a placeholder for the currency value of the asset. Meaning, you use a Non-Fungible Token to either buy or purchase the product with Bitcoin & can continue to benefit on the value of the asset after the sell or purchase because you didn’t exchange it for a fungible token a.k.a cash.

Paintings & music lose their value once they’re bought & sold, the way to keep & increase the value of it is to sell it or buy it without using an fungible exchange; so if someone buys a Million dollar Da Vinci painting it’s not worth that anymore & can’t be resold at a higher price, but if someone buys a Digital piece from Banksy it can be resold at a higher price because it didn’t lose it’s value because it wasn’t exchanged for cash or credit, but rather a digital cryptocurrency with an NFT.

It’s just a way to sell & buy art, music, videos & other digital assets online without it losing it’s value & knowing that it isn’t a forgery.
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Until the grid goes down...
 
Pixelated bukake said:
I'm not the smartest guy in the room but I'm not working with low wattage, either. I have read several articles explaining NFT's. Every time I read such an article, I understand NFT's less than when I started reading the article.
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To me, it's best to think of it as a signed print of a painting. End of story.

Not that it should matter, but to expand a bit further, the "signature", in the case of NFTs, is the same technology that authenticates crypto currency.

Regardless, I would love for him to commit and sign with us at THE U!!
 
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Think it might be better to start a thread just for NFT discussion. Important topic and an emerging subject that will be only growing going forward but this is Bonsu thread.
 
Liberty City El said:
It’s a sign of respect;

Even the people who don’t like me know they gotta take their hat off before they sit down with me lol
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I got love for you for El, but I think it has more to do with not wanting to get attacked by your many dyck suckers on this forum.

Everything you say is perceived to be the final authority, and dissenting opinions are usually met with vehement opposition.

This is problematic because it helps to create an echo chamber, by promoting monolithic thinking.
 
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Trafficante said:
I got love for you for El, but I think it has more to do with not wanting to get attacked by your many dyck suckers on this forum.

Everything you say is perceived to be the final authority, and dissenting opinions are usually met with vehement opposition.

This is problematic because it helps to create an echo chamber, by promoting monolithic thinking.
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That’s not true.

Nor do I make it that way, I welcome people to disagree with as much as they possibly can & have NEVER said nor placed myself as any kind of final authority on anything. I don’t hold a gun to anyone’s head & make them listen to anything I say, I simply offer my opinion & people are free to take it or leave it.

There’s quite few people who disagree with me regularly on here & we have discussions with no problem. I don’t attack or bash anyone who disagrees with me for whatever reason they see fit. A lot of people on here don’t like me for a myriad of reasons & I actually love that because being liked by everyone is dangerous.

I never claim to be right about everything, I never claim to perfect, I’m just me, some people like it some people don’t. It makes me no difference either way. If anything I say bothers someone so much all they have to do is put me on ignore, otherwise I don’t know if I can help that I’m myself & it upsets people.

If people choose to agree with me, that’s their choice. I’ve never forced anyone to think or say anything. Everyone on here is adults with a mind of their own, I’m only father to my child & no one on this board, my word is not law, nor have I ever said it was.
 
Liberty City El said:
That’s not true.

Nor do I make it that way, I welcome people to disagree with as much as they possibly can & have NEVER said nor placed myself as any kind of final authority on anything. I don’t hold a gun to anyone’s head & make them listen to anything I say, I simply offer my opinion & people are free to take it or leave it.

There’s quite few people who disagree with me regularly on here & we have discussions with no problem. I don’t attack or bash anyone who disagrees with me for whatever reason they see fit. A lot of people on here don’t like me for a myriad of reasons & I actually love that because being liked by everyone is dangerous.

I never claim to be right about everything, I never claim to perfect, I’m just me, some people like it some people don’t. It makes me no difference either way. If anything I say bothers someone so much all they have to do is put me on ignore, otherwise I don’t know if I can help that I’m myself & it upsets people.

If people choose to agree with me, that’s their choice. I’ve never forced anyone to think or say anything. Everyone on here is adults with a mind of their own, I’m only father to my child & no one on this board, my word is not law, nor have I ever said it was.
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You're a standup guy, so I know you're not intentionally encouraging any of this.

Its just that you have so much influence on this forum, that people at times agree with you blindly, which can be counter-productive. For the most part its not that big of an issue because you try to be fair & balanced.

As for why some individuals don't like you-I guess we either die a hero, or live long enough to become the villain.
 
Liberty City El said:
I’ll simplify it the best I can:

If you wanted to buy or sell a piece of artwork or music online without using cash which is fungible, you could sell it with Bitcoin or ETH.

Now, how do you know what you’re buying is real? Because there’s a digital signature of this particular asset that is only specific to the seller/buyer that cannot be replicated; it’s like an insignia & within this insignia is the verification that what you’re buying/selling is 100% yours. That’s a NFT.

So as a way to maintain the value of the asset without it being devalued by the exchange you use a NFT as a placeholder for the currency value of the asset. Meaning, you use a Non-Fungible Token to either buy or purchase the product with Bitcoin & can continue to benefit on the value of the asset after the sell or purchase because you didn’t exchange it for a fungible token a.k.a cash.

Paintings & music lose their value once they’re bought & sold, the way to keep & increase the value of it is to sell it or buy it without using an fungible exchange; so if someone buys a Million dollar Da Vinci painting it’s not worth that anymore & can’t be resold at a higher price, but if someone buys a Digital piece from Banksy it can be resold at a higher price because it didn’t lose it’s value because it wasn’t exchanged for cash or credit, but rather a digital cryptocurrency with an NFT.

It’s just a way to sell & buy art, music, videos & other digital assets online without it losing it’s value & knowing that it isn’t a forgery.
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Bro this might come off cray as fck but would you be interested in working my brothers 25 year anniversary album release. We dont know jack **** about any of that NFT stuff. K5 Passion was our original album. Had two songs in Been Afflicts movie chasing Amy, Passion and Red alert. We are playing Saturday night in EDC Orlando. Dead Mouse and Kasskade have now taken on our name Kx5 and that might turn into a barn storm. Our lawyers are kind of salivating. But this whole NFT thing is very interesting. We just dint know **** about it. Some one could make some big money off us but were fine with that. Just hit me up if you might want to talk.
 
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