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 Namewee sells NFTs, instant US$900K in 1 Day!, *Flirting with 1M NOW. Absolute MADNESS!

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doublecool
post Nov 8 2021, 03:29 PM

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i am thinking when he sells his song in NFT form (100 of them lmao and selling at 3 eth = $1.4mil USD), do you actually own 1/100 of the song (if you buy) and can you collect actual copyright money when the song is being used for commercial purpose

if namewee still owns the copyright to the song, then i don't see this NFT having any worth

i see someone keep talking about mona lisa and so called arts, when you buy mona lisa you hang it at your home and you own it. you can rent it out for exhibition purpose for money or even feel good that you have the only real painting

doublecool
post Nov 8 2021, 04:40 PM

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QUOTE(Selectt @ Nov 8 2021, 03:46 PM)
you mean collecting royalty on that songs? You dont have have any copyright on his song. yup, he still owns the actual song.

NFT is just a mean to "goreng" stuff. If you can convince sohai like rooney723 to buy his NFT, it is your effort. In most cases, the actual NFT is garbage. Everyone wants to make money and they will literally sell garbage if there are buyers.
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then its pretty rubbish to buy his NFTs
doublecool
post Nov 8 2021, 09:12 PM

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QUOTE(rooney723 @ Nov 8 2021, 05:13 PM)
well, the same can be said about bitcoins also right? bitcoin is basically just data but why its worth 65k today? ppl can buy gold bars with the same amount and put it at their house and enjoy it
but why are ppl buying non tangible assets like bitcoins instead of gold? its just data mar, but its worth 65k of data hahahhaa
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1 btc = 1 btc but is 1 nft = 1 nft? Nft value is tied to crypto, and btc is fungible, nft is not fungible lol

You are comparing Apple to orange lol

You can buy bitcoin or gold and frame it and enjoy it but we are talking about the ownership of NFT and its relation to real world, whether you can actually own the real world rights to it. As to say when someone plays the name wee song for commercial purpose, can you claim royalty for that?

So what type of right do NFTs give you?? I can take the same amount of money, go to an artist, and buy the publishing right of his song so the song belongs to me, but can NFT do that?
doublecool
post Nov 9 2021, 09:11 AM

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QUOTE(rooney723 @ Nov 8 2021, 09:46 PM)
buy bitcoin and frame it? how to frame bitcoin? LOL, its in the crypto wallet as data, not a real tangible asset, but why ppl still buy?

u were saying mona lisa drawing can buy and enjoy at home, yeah i know, thats why i bring in the bitcoin vs gold comparison, ppl can buy real gold bars as store of value or to frame it like u said, but why today many ppl prefer to buy bitcoins instead? u cannot physically hold bitcoins, why everyone is rushing to buy it? why buy a non tangible asset or data? there must be a reason right? and thats where the value of bitcoin, a non tangible asset come from

yeah u are right u can just go to any artist and buy the publishing rights of his songs or ask a famous painter to paint a nice painting for u
but can u guarantee the song or the rights only have 1 owner?
now lets say u wan to buy the publishing rights of his song, and u talk to his agent, his agent sell u the rights of the song, then sell to another 100 more ppl all around the world, and theres no way for u to verify that u are the only rightful owner of the song,
then this sound like a scam right? many years later 100 ppl will say they own the rights to the song, and the singer and agent sudah lari far far hahahaha

and then now NFT, with NFT at least everything is transparent, there can only be 1 owner of every exclusive NFT, and the author of the NFT can also be verified easily, if its by namewee means its by namewee, no hanky panky
and this world is getting weirder everyday, ppl will pay for that "exclusivity" of an asset, be it in tangible or non tangible form, u can say we cannot feel and touch NFTs and its basically just data, but the same can be said aboit bitcoins and crypto, and ppl today are still buying it
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You can so called frame bitcoin by buying an external monitor and showcase your amount of bitcoin inside it, be it an online wallet or offline wallet

Why are you comparing bitcoin and gold when they are actually 2 different categories? Bitcoin is crypto currency while gold is a form of precious metal. Or I put it simpler for you, what's the point of comparing usd with gold? You can pay by using usd/btc but can you pay using gold? People are simply converting their fiat currency into crypto currency and I don't oppose doing that and I also hold crypto. But it's people like you who keeps on tying bitcoin to fiat currency value lol

Agent selling multiple publishing right is basically against the contract and he can get sued. I don't understand your point of argument LOL

I agree with the concept of using blockchain as a form of creating smart contracts, which is easier to trace and very easy to audit, but the argument here is whether nft gives you any rights to his songs, or its just a mere digital signature

 

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