I was looking to start getting into producing NFTs (non-fungible tokens) and they’re—to my understanding—digital content that can be “minted” where essentially digital certificates of authenticity can be sold proving that you own it.
So, think of all of the digital content you rent on your streaming services and the games you’ve bought on Steam or console equivalent’s media distribution platforms. You don’t really own them because you can’t sell or trade the stuff you bought. With NFTs, you own certificates which prove ownership of digital content. NFTs create a marketplace for digital stuff.
I was thinking of creating NFTs involving my art. Things like the following:
collectible digital dolls (digital box art of my characters like Jeggy, Surfer Girl, Knightwalker, .etc)
collectible digital action figures w/ numerous variant versions (think Pokemon mixed with sports cards)
unique variant cover editions of my digital comics
card sets, .etc.
Initially in 2D, but then I might hire 3D modelers to make stuff modeled after my art. All would be sold on NFT marketplaces.
I'm interested in all sorts of products, but not NFTs. I buy things to have them, not to re-sell them. All being an NFT does is inflate the price of digital things I would like to have (which is bad) in exchange for potentially selling them in the future (which I don't care about). NFTs are a lose/lose for me.
For me, it's a way to create/sell digital analogs of things I'd love to produce tangible versions of, like toys.
I started thinking about how to produce a toy line based on an original IP of mine last year, but costs are exorbitant. It wasn't until I heard of NFTs that it seemed possible to still do a toy line, but in a digital format that could help to finance the production of the physical versions.
Yes, but NFTs have the limitation of only being non-fungible within the scope of a given platform and thus their value is inextricably tied to the value of that platform. For example, if you wanted a picture of a cool sword that a World of Warcraft character has, you can screenshot it for free-- or just draw the thing yourself...or countless other options. But, if you want it to do what it does in World of Warcraft, you will have to be part of that player base and remain in good standing so that your cool sword continues to have the value that you want it to have.
Another example might be to buy a bunch of Japanese yen and then leave Japan. They still have the potential to have the value in Japan because you can always go back or deal with a Japanese merchant, but until you do, they're not really worth much to anyone outside of that economic system. (This sort of describes crypto in general-- completely neglecting the much more important aspect of the function of a given token on a chain)
So, your NFTs will only have the value and non-fungibility you are hoping for if the patrons prefer experiencing them on a particular platform. If the patron can have more-or-less the same experience with a screenshot or other alternative medium, then this might end up in disappointment.
I'm not a fan of NFT's personally, because I don't see the value in them. I get the idea behind them, the ability to emulate physical ownership of digital products, but the problem is that since digital products are perfectly copyable, a proof of ownership will only be valid on a particular platform and ecosystem. If in the future, there is nobody who can verify what a particular token on the blockchain represents, its value is lost. It's the equivalence of being the only one owning laserdiscs. If there aren't any laserdisc players or even people who know what laserdiscs are, they are completely without value.
With that said, if you think it would add some value to you as an artist, go for it.
I'm right there with you, Johan. Personally, I don't understand the WHY of NFTs from a fan perspective. I think it's all a speculator market; it's people buying NFTs thinking they'll be worth something later, but what I wonder is are there any parties involved in the community who "collect" NFTs out of genuine interest.
My concern is what is the psychology of collecting NFTs. People collect Pokemon cards because the brand of Pokemon is globally recognized and expressed through various multimedia incarnations: movies, cartoon shows, video games, toys, .etc. There's a genuine demand for the brand, so if you have a rare Pokemon card, laws of supply and demand work how you'd expect that they work.
For me, as an artist, I see NFTs as a new way to create stuff. I'm working with my son to create several lines of digital dolls/action figures and the accompanying art will have limited animation. I'm trying to find ways to gamify some of these concepts, too.
It's just that some ideas are best expressed in some mediums and I think an NFT marketplace might be an economical way to express some of my characters. I'd LOVE to design digital action figures of some of my comic characters that take tons of time to show in sequential art stories but still have those digital action figures create value for people.
We'll see. I'm going to be building up my YouTube channel in the coming months and once I do and I get--hopefully--10-15k subscribers, I'm going to float the idea of NFTs to make it worth everyone's while.
I'll be doing a series of NFTs to coincide with the launch of an "Amazon Island" comic I'm doing next year.
I think collectors of NFT's will come eventually, after the recent craze with people who want to make a quick buck. After they have gone away, NFT's will see its true utility and value. I love collecting stuff, but for me (and I'm sure many others), there is nothing that beats physical art. But I guess that will change over time. I'm only 38 and I already feel like a grumpy old luddite, when I see how kids today use digital technology (I feel this way even though I'm a computer engineer and digital technology is literally what I work with every day).
Definitely a spec-market right now. However, I'm a virtual reality enthusiast and even in the digital games market, there's a strange, growing community of consumers who favor digital over physical. There are games where people pay good money to adorn their game avatars with little digital clothing and weapons.
I think the day will come--when/if VR ever becomes ubiquitous--that digital goods--owned and engaged with in VR--will be worth just as much to people as physical ones. It's going to be the birth of a new economy.
I'm a collector of action figures and larger, more expensive statues/figurines and for the price I pay for them, I just look at them. They might as well be digital. lol
You are probably correct. Regardless, it's a fascinating time to be alive for sure. AI, VR, this whole blockchain thing... lots of things to feel excited for.
I'm sure there are lots of people who would be interested in NFTs but generally I am not one of them. However, depending on the cost and what the NFT represents, it may pique my interest.
TBH, from a consumer's perspective, I'm not interested in NFTs either, BUT from a creative perspective, NFTs could serve me to expand how I can express ideas I have that don't fit within the comic book/graphic novel or even physical print formats.
I think of NFTs as just another way to create cool stuff that makes people happy in some way. That's always the goal. I'll continue to look into it.
They're basically Certificates of Authenticity for digital products. It's a way to "own" digital media like images, videos, .etc. Also, once you own them, you can sell/trade them on NFT markets. Opens up things like collectible digital art that the creator(me, in this case) deciding the rarity of a digital illustration to help determine its worth among the community.
I'm interested in all sorts of products, but not NFTs. I buy things to have them, not to re-sell them. All being an NFT does is inflate the price of digital things I would like to have (which is bad) in exchange for potentially selling them in the future (which I don't care about). NFTs are a lose/lose for me.
I totally understand.
For me, it's a way to create/sell digital analogs of things I'd love to produce tangible versions of, like toys.
I started thinking about how to produce a toy line based on an original IP of mine last year, but costs are exorbitant. It wasn't until I heard of NFTs that it seemed possible to still do a toy line, but in a digital format that could help to finance the production of the physical versions.
I am not really interested in it personally but if you think it's worth your time and you can make money go for it! 🙂
Yes, but NFTs have the limitation of only being non-fungible within the scope of a given platform and thus their value is inextricably tied to the value of that platform. For example, if you wanted a picture of a cool sword that a World of Warcraft character has, you can screenshot it for free-- or just draw the thing yourself...or countless other options. But, if you want it to do what it does in World of Warcraft, you will have to be part of that player base and remain in good standing so that your cool sword continues to have the value that you want it to have.
Another example might be to buy a bunch of Japanese yen and then leave Japan. They still have the potential to have the value in Japan because you can always go back or deal with a Japanese merchant, but until you do, they're not really worth much to anyone outside of that economic system. (This sort of describes crypto in general-- completely neglecting the much more important aspect of the function of a given token on a chain)
So, your NFTs will only have the value and non-fungibility you are hoping for if the patrons prefer experiencing them on a particular platform. If the patron can have more-or-less the same experience with a screenshot or other alternative medium, then this might end up in disappointment.
Very good points. Lots to digest.
I'm not a fan of NFT's personally, because I don't see the value in them. I get the idea behind them, the ability to emulate physical ownership of digital products, but the problem is that since digital products are perfectly copyable, a proof of ownership will only be valid on a particular platform and ecosystem. If in the future, there is nobody who can verify what a particular token on the blockchain represents, its value is lost. It's the equivalence of being the only one owning laserdiscs. If there aren't any laserdisc players or even people who know what laserdiscs are, they are completely without value.
With that said, if you think it would add some value to you as an artist, go for it.
I'm right there with you, Johan. Personally, I don't understand the WHY of NFTs from a fan perspective. I think it's all a speculator market; it's people buying NFTs thinking they'll be worth something later, but what I wonder is are there any parties involved in the community who "collect" NFTs out of genuine interest.
My concern is what is the psychology of collecting NFTs. People collect Pokemon cards because the brand of Pokemon is globally recognized and expressed through various multimedia incarnations: movies, cartoon shows, video games, toys, .etc. There's a genuine demand for the brand, so if you have a rare Pokemon card, laws of supply and demand work how you'd expect that they work.
For me, as an artist, I see NFTs as a new way to create stuff. I'm working with my son to create several lines of digital dolls/action figures and the accompanying art will have limited animation. I'm trying to find ways to gamify some of these concepts, too.
It's just that some ideas are best expressed in some mediums and I think an NFT marketplace might be an economical way to express some of my characters. I'd LOVE to design digital action figures of some of my comic characters that take tons of time to show in sequential art stories but still have those digital action figures create value for people.
We'll see. I'm going to be building up my YouTube channel in the coming months and once I do and I get--hopefully--10-15k subscribers, I'm going to float the idea of NFTs to make it worth everyone's while.
I'll be doing a series of NFTs to coincide with the launch of an "Amazon Island" comic I'm doing next year.
I deeply appreciate your input.
I think collectors of NFT's will come eventually, after the recent craze with people who want to make a quick buck. After they have gone away, NFT's will see its true utility and value. I love collecting stuff, but for me (and I'm sure many others), there is nothing that beats physical art. But I guess that will change over time. I'm only 38 and I already feel like a grumpy old luddite, when I see how kids today use digital technology (I feel this way even though I'm a computer engineer and digital technology is literally what I work with every day).
Definitely a spec-market right now. However, I'm a virtual reality enthusiast and even in the digital games market, there's a strange, growing community of consumers who favor digital over physical. There are games where people pay good money to adorn their game avatars with little digital clothing and weapons.
I think the day will come--when/if VR ever becomes ubiquitous--that digital goods--owned and engaged with in VR--will be worth just as much to people as physical ones. It's going to be the birth of a new economy.
I'm a collector of action figures and larger, more expensive statues/figurines and for the price I pay for them, I just look at them. They might as well be digital. lol
You are probably correct. Regardless, it's a fascinating time to be alive for sure. AI, VR, this whole blockchain thing... lots of things to feel excited for.
I'm sure there are lots of people who would be interested in NFTs but generally I am not one of them. However, depending on the cost and what the NFT represents, it may pique my interest.
TBH, from a consumer's perspective, I'm not interested in NFTs either, BUT from a creative perspective, NFTs could serve me to expand how I can express ideas I have that don't fit within the comic book/graphic novel or even physical print formats.
I think of NFTs as just another way to create cool stuff that makes people happy in some way. That's always the goal. I'll continue to look into it.
I still have no idea what NFT are?
They're basically Certificates of Authenticity for digital products. It's a way to "own" digital media like images, videos, .etc. Also, once you own them, you can sell/trade them on NFT markets. Opens up things like collectible digital art that the creator(me, in this case) deciding the rarity of a digital illustration to help determine its worth among the community.
I'm not really interested in NFT's, either, so I can't really give a recommendation one way or the other on it for you.