I minted an NFT of a photo I took. What the heck do I do now?
I minted NFTs of some photographs I recently took of a flock migrating geese. I think they are pretty cool.
But realistically, how can I market these to interested buyers? Should I even market them? Relative newbie here and I know a lot of us are trying to catch up with what's going on in this NFT space.
Any insight is appreciated. I linked to the NFT below for reference. If any amateur photographers here, also open to any feedback on the photos themselves :)
NFTs only have value in the way something like a famous piece of art does. Except now, it's an online token, not a physical piece of art.
The Mona Lisa can be copied, pictured, and replicated stroke for stroke. A picture of the Mona Lisa has no value. The physical paint and canvas has no value. The value is derived from something sentimental and emotional.
An original Elon Musk tweet can be copied, but the actual ownership has value (which will range from person to person). A very nice picture of geese has that much value: it is a nice picture and nothing more (unless you were famous). Unless you can prove to buyers that having certified ownership of it (as opposed to a screenshot) has value, then it is worth about 0.
As a Millenial, I'm like 100 million years old in internet years. Help me understand this. What exactly is "ownership" of a tweet and why the Hell would someone offer $1 million for it?
So NFTs use the blockchain technology of Ethereum (I think) to prove ownership. This part is kinda over my head, but in general it relies on algorithms to provide proof of ownership.
People offer money for it the same way they'd want to own a high end piece of art, a valuable car, etc. It's a speculative investment, or could be for personal reasons. If someone will pay Musk 1M for ownership of a tweet, then he dies in let's say ~35 years, and someone bought a tweet of his, then that might skyrocket in value.
Yeah, I get the whole "supply and demand" equation, I just don't understand the supply half of the equation. For art, if I own art I can display it; I can touch something that Leonardo da Vinci touched; it can't be easily replicated. What am I getting for "ownership" of a tweet? That's what I'm not understanding. Can't I...print out a tweet? Re-tweet a tweet? Express the same idea? Email the tweet around? Image grab it and store the file on my computer? I don't get what is being supplied to me, the prospective buyer.
forgive my ignorance but can't i just screenshot your photo and use it elsewhere?
Yes, and you can paint an exact replica of the Mona Lisa and try to sell it. However, the actual ownership is tied through blockchain.
The actual tech is so far above me (forgive me, I'm a lowly Analyst 1 in IB-M&A at a LMM). Yet somehow it must create protections for the buyer to tie the ownership to him and prevent the same token being sold multiple time or forged through screenshot.
They basically can screenshot it yeah. But in theory you are purchasing a unique copy traceable to a particular blockchain address
For what it’s worth, this is my photo not something I bought off of someone else
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