NFTs

[Jonathan Cross]

Is a digital image with its metadata an NFT (non fungible token) that can be traded in cyberspace?

Jonathan

[Jonathan Cross]

Perhaps I should have explained the context for my question.

https://www.bloomberg.com/news/articles/2021-12-15/sotheby-s-makes-100-million-in-nft-sales-with-younger-audience

I am having trouble getting my head round the concept.  It appears that NFTs are digital assets with a provenance (though I may be wrong!).  All my digital images with their metadata might be classed as NFTs??  The only difference may be that NFTs might be kept in a block chain (more jargon that I do not really understand!).

If my images can be NFTs, am I missing a lucrative income stream?

Jonathan

[LesPalenik]

Could be lucrative. Even Melania Trump is getting into NFTs. I doubt that she supplied metadata with her art work.

Today, the 45th First Lady announced she’s launching a new platform for NFTs—her first public initiative since leaving the White House. The NFTs will be released in “regular intervals” on MelaniaTrump.com, according to an announcement. The first, a piece titled Melania’s Vision, is available to purchase now through the end of the year for one SOL (a unit of cryptocurrency that’s part of the Solana blockchain platform)—or roughly $185.

Based on a watercolor by French artist Marc-Antoine Coulon, the NFT depicts a pair of steely blue eyes—presumably the former First Lady’s own—thrown into contrast by layers of dark liner and mascara. For the collector, it is “an amulet to inspire,” according to her website.

https://news.artnet.com/market/melania-trump-launched-nft-platform-first-offering-watercolor-eyes-branded-amulet-inspire-2049967

[Robert Roaldi]

Could be lucrative. Even Melania Trump is getting into NFTs. I doubt that she supplied metadata with her art work.

https://news.artnet.com/market/melania-trump-launched-nft-platform-first-offering-watercolor-eyes-branded-amulet-inspire-2049967

Give me strength.

What happens to NFTs in the secondary auction market?

[LesPalenik]

What happens to NFTs in the secondary auction market?

AFAIK, if the NFT is sold a second time, a new royalty is automatically calculated and deposited to the original artist's wallet. The justification for that rule is that when the value of an artist’s work rises and someone cashes in on his work, the artist should get a cut of that transaction.

[Slobodan Blagojevic]

... Even Melania Trump...

This is a distraction from the OP's rather valid question.

[LesPalenik]

Very true, Slobodan. I just created a new thread in the Pro Business thread on this subject.
 

[Alan Klein]

Perhaps I should have explained the context for my question.

https://www.bloomberg.com/news/articles/2021-12-15/sotheby-s-makes-100-million-in-nft-sales-with-younger-audience

I am having trouble getting my head round the concept.  It appears that NFTs are digital assets with a provenance (though I may be wrong!).  All my digital images with their metadata might be classed as NFTs??  The only difference may be that NFTs might be kept in a block chain (more jargon that I do not really understand!).

If my images can be NFTs, am I missing a lucrative income stream?

Jonathan

You can buy any of my photos on Flickr as an NFT.  I'm asking $1000 for exclusive rights per picture.  My phone doesn't stop ringing, so hurry up. 

[LesPalenik]

You can buy any of my photos on Flickr as an NFT.  I'm asking $1000 for exclusive rights per picture.  My phone doesn't stop ringing, so hurry up.

You should add one of those yellow circles to your post. Otherwise, some readers may take it seriously and send you money (which could cause you problems with IRS).

[Alan Klein]

You should add one of those yellow circles to your post. Otherwise, some readers may take it seriously and send you money (which could you cause problems with IRS).

That's what I'm hoping.  And I promise to report the income.