More on NFTs & Art
Jake Prins
3 years ago
What are NFTs 2.0 and what issues are they meant to address?
New standards help NFTs reach their full potential.
NFTs lack interoperability and functionality. They have great potential but are mostly speculative. To maximize NFTs, we need flexible smart contracts.
Current requirements are too restrictive.
Most NFTs are based on ERC-721, which makes exchanging them easy. CryptoKitties, a popular online game, used the 2017 standard to demonstrate NFTs' potential.
This simple standard includes a base URI and incremental IDs for tokens. Add the tokenID to the base URI to get the token's metadata.
This let creators collect NFTs. Many NFT projects store metadata on IPFS, a distributed storage network, but others use Google Drive. NFT buyers often don't realize that if the creators delete or move the files, their NFT is just a pointer.
This isn't the standard's biggest issue. There's no way to validate NFT projects.
Creators are one of the most important aspects of art, but nothing is stored on-chain.
ERC-721 contracts only have a name and symbol.
Most of the data on OpenSea's collection pages isn't from the NFT's smart contract. It was added through a platform input field, so it's in the marketplace's database. Other websites may have different NFT information.
In five years, your NFT will be just a name, symbol, and ID.
Your NFT doesn't mention its creators. Although the smart contract has a public key, it doesn't reveal who created it.
The NFT's creators and their reputation are crucial to its value. Think digital fashion and big brands working with well-known designers when more professionals use NFTs. Don't you want them in your NFT?
Would paintings be as valuable if their artists were unknown? Would you believe it's real?
Buying directly from an on-chain artist would reduce scams. Current standards don't allow this data.
Most creator profiles live on centralized marketplaces and could disappear. Current platforms have outpaced underlying standards. The industry's standards are lagging.
For NFTs to grow beyond pointers to a monkey picture file, we may need to use new Web3-based standards.
Introducing NFTs 2.0
Fabian Vogelsteller, creator of ERC-20, developed new web3 standards. He proposed LSP7 Digital Asset and LSP8 Identifiable Digital Asset, also called NFT 2.0.
NFT and token metadata inputs are extendable. Changes to on-chain metadata inputs allow NFTs to evolve. Instead of public keys, the contract can have Universal Profile addresses attached. These profiles show creators' faces and reputations. NFTs can notify asset receivers, automating smart contracts.
LSP7 and LSP8 use ERC725Y. Using a generic data key-value store gives contracts much-needed features:
The asset can be customized and made to stand out more by allowing for unlimited data attachment.
Recognizing changes to the metadata
using a hash reference for metadata rather than a URL reference
This base will allow more metadata customization and upgradeability. These guidelines are:
Genuine and Verifiable Now, the creation of an NFT by a specific Universal Profile can be confirmed by smart contracts.
Dynamic NFTs can update Flexible & Updatable Metadata, allowing certain things to evolve over time.
Protected metadata Now, secure metadata that is readable by smart contracts can be added indefinitely.
Better NFTS prevent the locking of NFTs by only being sent to Universal Profiles or a smart contract that can interact with them.
Summary
NFTS standards lack standardization and powering features, limiting the industry.
ERC-721 is the most popular NFT standard, but it only represents incremental tokenIDs without metadata or asset representation. No standard sender-receiver interaction or security measures ensure safe asset transfers.
NFT 2.0 refers to the new LSP7-DigitalAsset and LSP8-IdentifiableDigitalAsset standards.
They have new standards for flexible metadata, secure transfers, asset representation, and interactive transfer.
With NFTs 2.0 and Universal Profiles, creators could build on-chain reputations.
NFTs 2.0 could bring the industry's needed innovation if it wants to move beyond trading profile pictures for speculation.
Protos
3 years ago
Plagiarism on OpenSea: humans and computers
OpenSea, a non-fungible token (NFT) marketplace, is fighting plagiarism. A new “two-pronged” approach will aim to root out and remove copies of authentic NFTs and changes to its blue tick verified badge system will seek to enhance customer confidence.
According to a blog post, the anti-plagiarism system will use algorithmic detection of “copymints” with human reviewers to keep it in check.
Last year, NFT collectors were duped into buying flipped images of the popular BAYC collection, according to The Verge. The largest NFT marketplace had to remove its delay pay minting service due to an influx of copymints.
80% of NFTs removed by the platform were minted using its lazy minting service, which kept the digital asset off-chain until the first purchase.
NFTs copied from popular collections are opportunistic money-grabs. Right-click, save, and mint the jacked JPEGs that are then flogged as an authentic NFT.
The anti-plagiarism system will scour OpenSea's collections for flipped and rotated images, as well as other undescribed permutations. The lack of detail here may be a deterrent to scammers, or it may reflect the new system's current rudimentary nature.
Thus, human detectors will be needed to verify images flagged by the detection system and help train it to work independently.
“Our long-term goal with this system is two-fold: first, to eliminate all existing copymints on OpenSea, and second, to help prevent new copymints from appearing,” it said.
“We've already started delisting identified copymint collections, and we'll continue to do so over the coming weeks.”
It works for Twitter, why not OpenSea
OpenSea is also changing account verification. Early adopters will be invited to apply for verification if their NFT stack is worth $100 or more. OpenSea plans to give the blue checkmark to people who are active on Twitter and Discord.
This is just the beginning. We are committed to a future where authentic creators can be verified, keeping scammers out.
Also, collections with a lot of hype and sales will get a blue checkmark. For example, a new NFT collection sold by the verified BAYC account will have a blue badge to verify its legitimacy.
New requests will be responded to within seven days, according to OpenSea.
These programs and products help protect creators and collectors while ensuring our community can confidently navigate the world of NFTs.
By elevating authentic content and removing plagiarism, these changes improve trust in the NFT ecosystem, according to OpenSea.
OpenSea is indeed catching up with the digital art economy. Last August, DevianArt upgraded its AI image recognition system to find stolen tokenized art on marketplaces like OpenSea.
It scans all uploaded art and compares it to “public blockchain events” like Ethereum NFTs to detect stolen art.
nft now
3 years ago
Instagram NFTs Are Here… How does this affect artists?
Instagram (IG) is officially joining NFT. With the debut of new in-app NFT functionalities, influential producers can interact with blockchain tech on the social media platform.
Meta unveiled intentions for an Instagram NFT marketplace in March, but these latest capabilities focus more on content sharing than commerce. And why shouldn’t they? IG's entry into the NFT market is overdue, given that Twitter and Discord are NFT hotspots.
The NFT marketplace/Web3 social media race has continued to expand, with the expected Coinbase NFT Beta now live and blazing a trail through the NFT ecosystem.
IG's focus is on visual art. It's unlike any NFT marketplace or platform. IG NFTs and artists: what's the deal? Let’s take a look.
What are Instagram’s NFT features anyways?
As said, not everyone has Instagram's new features. 16 artists, NFT makers, and collectors can now post NFTs on IG by integrating third-party digital wallets (like Rainbow or MetaMask) in-app. IG doesn't charge to publish or share digital collectibles.
NFTs displayed on the app have a "shimmer" aesthetic effect. NFT posts also have a "digital collectable" badge that lists metadata such as the creator and/or owner, the platform it was created on, a brief description, and a blockchain identification.
Meta's social media NFTs have launched on Instagram, but the company is also preparing to roll out digital collectibles on Facebook, with more on the way for IG. Currently, only Ethereum and Polygon are supported, but Flow and Solana will be added soon.
How will artists use these new features?
Artists are publishing NFTs they developed or own on IG by linking third-party digital wallets. These features have no NFT trading aspects built-in, but are aimed to let authors share NFTs with IG audiences.
Creators, like IG-native aerial/street photographer Natalie Amrossi (@misshattan), are discovering novel uses for IG NFTs.
Amrossi chose to not only upload his own NFTs but also encourage other artists in the field. "That's the beauty of connecting your wallet and sharing NFTs. It's not just what you make, but also what you accumulate."
Amrossi has been producing and posting Instagram art for years. With IG's NFT features, she can understand Instagram's importance in supporting artists.
Web2 offered Amrossi the tools to become an artist and make a life. "Before 'influencer' existed, I was just making art. Instagram helped me reach so many individuals and brands, giving me a living.
Even artists without millions of viewers are encouraged to share NFTs on IG. Wilson, a relatively new name in the NFT space, seems to have already gone above and beyond the scope of these new IG features. By releasing "Losing My Mind" via IG NFT posts, she has evaded the lack of IG NFT commerce by using her network to market her multi-piece collection.
"'Losing My Mind' is a long-running photo series. Wilson was preparing to release it as NFTs before IG approached him, so it was a perfect match.
Wilson says the series is about Black feminine figures and media depiction. Respectable effort, given POC artists have been underrepresented in NFT so far.
“Over the past year, I've had mental health concerns that made my emotions so severe it was impossible to function in daily life, therefore that prompted this photo series. Every Wednesday and Friday for three weeks, I'll release a new Meta photo for sale.
Wilson hopes these new IG capabilities will help develop a connection between the NFT community and other internet subcultures that thrive on Instagram.
“NFTs can look scary as an outsider, but seeing them on your daily IG feed makes it less foreign,” adds Wilson. I think Instagram might become a hub for NFT aficionados, making them more accessible to artists and collectors.
What does it all mean for the NFT space?
Meta's NFT and metaverse activities will continue to impact Instagram's NFT ecosystem. Many think it will be for the better, as IG NFT frauds are another problem hurting the NFT industry.
IG's new NFT features seem similar to Twitter's PFP NFT verifications, but Instagram's tools should help cut down on scams as users can now verify the creation and ownership of whole NFT collections included in IG posts.
Given the number of visual artists and NFT creators on IG, it might become another hub for NFT fans, as Wilson noted. If this happens, it raises questions about Instagram success. Will artists be incentivized to distribute NFTs? Or will those with a large fanbase dominate?
Elise Swopes (@swopes) believes these new features should benefit smaller artists. Swopes was one of the first profiles placed to Instagram's original suggested user list in 2012.
Swopes says she wants IG to be a magnet for discovery and understands the value of NFT artists and producers.
"I'd love to see IG become a focus of discovery for everyone, not just the Beeples and Apes and PFPs. That's terrific for them, but [IG NFT features] are more about using new technology to promote emerging artists, Swopes added.
“Especially music artists. It's everywhere. Dancers, writers, painters, sculptors, musicians. My element isn't just for digital artists; it can be anything. I'm delighted to witness people's creativity."
Swopes, Wilson, and Amrossi all believe IG's new features can help smaller artists. It remains to be seen how these new features will effect the NFT ecosystem once unlocked for the rest of the IG NFT community, but we will likely see more social media NFT integrations in the months and years ahead.
Read the full article here
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Tim Denning
3 years ago
Elon Musk’s Rich Life Is a Nightmare
I'm sure you haven't read about Elon's other side.
Elon divorced badly.
Nobody's surprised.
Imagine you're a parent. Someone isn't home year-round. What's next?
That’s what happened to YOLO Elon.
He can do anything. He can intervene in wars, shoot his mouth off, bang anyone he wants, avoid tax, make cool tech, buy anything his ego desires, and live anywhere exotic.
Few know his billionaire backstory. I'll tell you so you don't worship his lifestyle. It’s a cult.
Only his career succeeds. His life is a nightmare otherwise.
Psychopaths' schedule
Elon has said he works 120-hour weeks.
As he told the reporter about his job, he choked up, which was unusual for him.
His crazy workload and lack of sleep forced him to scold innocent Wall Street analysts. Later, he apologized.
In the same interview, he admits he hadn't taken more than a week off since 2001, when he was bedridden with malaria. Elon stays home after a near-death experience.
He's rarely outside.
Elon says he sometimes works 3 or 4 days straight.
He admits his crazy work schedule has cost him time with his kids and friends.
Elon's a slave
Elon's birthday description made him emotional.
Elon worked his entire birthday.
"No friends, nothing," he said, stuttering.
His brother's wedding in Catalonia was 48 hours after his birthday. That meant flying there from Tesla's factory prison.
He arrived two hours before the big moment, barely enough time to eat and change, let alone see his brother.
Elon had to leave after the bouquet was tossed to a crowd of billionaire lovers. He missed his brother's first dance with his wife.
Shocking.
He went straight to Tesla's prison.
The looming health crisis
Elon was asked if overworking affected his health.
Not great. Friends are worried.
Now you know why Elon tweets dumb things. Working so hard has probably caused him mental health issues.
Mental illness removed my reality filter. You do stupid things because you're tired.
Astronauts pelted Elon
Elon's overwork isn't the first time his life has made him emotional.
When asked about Neil Armstrong and Gene Cernan criticizing his SpaceX missions, he got emotional. Elon's heroes.
They're why he started the company, and they mocked his work. In another interview, we see how Elon’s business obsession has knifed him in the heart.
Once you have a company, you must feed, nurse, and care for it, even if it destroys you.
"Yep," Elon says, tearing up.
In the same interview, he's asked how Tesla survived the 2008 recession. Elon stopped the interview because he was crying. When Tesla and SpaceX filed for bankruptcy in 2008, he nearly had a nervous breakdown. He called them his "children."
All the time, he's risking everything.
Jack Raines explains best:
Too much money makes you a slave to your net worth.
Elon's emotions are admirable. It's one of the few times he seems human, not like an alien Cyborg.
Stop idealizing Elon's lifestyle
Building a side business that becomes a billion-dollar unicorn startup is a nightmare.
"Billionaire" means financially wealthy but otherwise broke. A rich life includes more than business and money.
This post is a summary. Read full article here
Katrine Tjoelsen
2 years ago
8 Communication Hacks I Use as a Young Employee
Learn these subtle cues to gain influence.
Hate being ignored?
As a 24-year-old, I struggled at work. Attention-getting tips How to avoid being judged by my size, gender, and lack of wrinkles or gray hair?
I've learned seniority hacks. Influence. Within two years as a product manager, I led a team. I'm a Stanford MBA student.
These communication hacks can make you look senior and influential.
1. Slowly speak
We speak quickly because we're afraid of being interrupted.
When I doubt my ideas, I speak quickly. How can we slow down? Jamie Chapman says speaking slowly saps our energy.
Chapman suggests emphasizing certain words and pausing.
2. Interrupted? Stop the stopper
Someone interrupt your speech?
Don't wait. "May I finish?" No pause needed. Stop interrupting. I first tried this in Leadership Laboratory at Stanford. How quickly I gained influence amazed me.
Next time, try “May I finish?” If that’s not enough, try these other tips from Wendy R.S. O’Connor.
3. Context
Others don't always see what's obvious to you.
Through explanation, you help others see the big picture. If a senior knows it, you help them see where your work fits.
4. Don't ask questions in statements
“Your statement lost its effect when you ended it on a high pitch,” a group member told me. Upspeak, it’s called. I do it when I feel uncertain.
Upspeak loses influence and credibility. Unneeded. When unsure, we can say "I think." We can even ask a proper question.
Someone else's boasting is no reason to be dismissive. As leaders and colleagues, we should listen to our colleagues even if they use this speech pattern.
Give your words impact.
5. Signpost structure
Signposts improve clarity by providing structure and transitions.
Communication coach Alexander Lyon explains how to use "first," "second," and "third" He explains classic and summary transitions to help the listener switch topics.
Signs clarify. Clarity matters.
6. Eliminate email fluff
“Fine. When will the report be ready? — Jeff.”
Notice how senior leaders write short, direct emails? I often use formalities like "dear," "hope you're well," and "kind regards"
Formality is (usually) unnecessary.
7. Replace exclamation marks with periods
See how junior an exclamation-filled email looks:
Hi, all!
Hope you’re as excited as I am for tomorrow! We’re celebrating our accomplishments with cake! Join us tomorrow at 2 pm!
See you soon!
Why the exclamation points? Why not just one?
Hi, all.
Hope you’re as excited as I am for tomorrow. We’re celebrating our accomplishments with cake. Join us tomorrow at 2 pm!
See you soon.
8. Take space
"Playing high" means having an open, relaxed body, says Stanford professor and author Deborah Gruenfield.
Crossed legs or looking small? Relax. Get bigger.
Owolabi Judah
3 years ago
How much did YouTube pay for 10 million views?
Ali's $1,054,053.74 YouTube Adsense haul.
YouTuber, entrepreneur, and former doctor Ali Abdaal. He began filming productivity and financial videos in 2017. Ali Abdaal has 3 million YouTube subscribers and has crossed $1 million in AdSense revenue. Crazy, no?
Ali will share the revenue of his top 5 youtube videos, things he's learned that you can apply to your side hustle, and how many views it takes to make a livelihood off youtube.
First, "The Long Game."
All good things take time to bear fruit. Compounding improves everything. Long-term work yields better returns. Ali made his first dollar after nine months and 85 videos.
Second, "One piece of content can transform your life, but you never know which one."
Had he abandoned YouTube at 84 videos without making any money, he wouldn't have filmed the 85th video that altered everything.
Third Lesson: Your Industry Choice Can Multiply.
The industry or niche you target as a business owner or side hustler can have a major impact on how much money you make.
Here are the top 5 videos.
1) 9.8m views: $191,258.16 for 9 passive income ideas
Ali made 2 points.
We should consider YouTube videos digital assets. They're investments, which make us money. His investments are yielding passive income.
Investing extra time and effort in your films can pay off.
2) How to Invest for Beginners — 5.2m Views: $87,200.08.
This video did poorly in the first several weeks after it was published; it was his tenth poorest performer. Don't worry about things you can't control. This applies to life, not just YouTube videos.
He stated we constantly have anxieties, fears, and concerns about things outside our control, but if we can find that line, life is easier and more pleasurable.
3) How to Build a Website in 2022— 866.3k views: $42,132.72.
The RPM was $48.86 per thousand views, making it his highest-earning video. Squarespace, Wix, and other website builders are trying to put ads on it and competing against one other, so ad rates go up.
Because it was beyond his niche, Ali almost didn't make the video. He made the video because he wanted to help at least one person.
4) How I take notes on my iPad in medical school — 5.9m views: $24,479.80
85th video. It's the video that affected Ali's YouTube channel and his life the most. The video's success wasn't certain.
5) How I Type Fast 156 Words Per Minute — 8.2M views: $25,143.17
Ali didn't know this video would perform well; he made it because he can type fast and has been practicing for 10 years. So he made a video with his best advice.
How many views to different wealth levels?
It depends on geography, niche, and other monetization sources. To keep things simple, he would solely utilize AdSense.
How many views to generate money?
To generate money on Youtube, you need 1,000 subscribers and 4,000 hours of view time. How much work do you need to make pocket money?
Ali's first 1,000 subscribers took 52 videos and 6 months. The typical channel with 1,000 subscribers contains 152 videos, according to Tubebuddy. It's time-consuming.
After monetizing, you'll need 15,000 views/month to make $5-$10/day.
How many views to go part-time?
Say you make $35,000/year at your day job. If you work 5 days/week, you make $7,000/year each day. If you want to drop down from 5 days to 4 days/week, you need to make an extra $7,000/year from YouTube, or $600/month.
What's the quit-your-job budget?
Silicon Valley Girl is in a highly successful niche targeting tech-focused folks in the west. When her channel had 500k views/month, she made roughly $3,000/month or $47,000/year, enough to quit your work.
Marina has another 1.5m subscriber channel in Russia, which has a lower rpm because fewer corporations advertise there than in the west. 2.3 million views/month is $4,000/month or $50,000/year, enough to quit your employment.
Marina is an intriguing example because she has three YouTube channels with the same skills, but one is 16x more profitable due to the niche she chose.
In Ali's case, he made 100+ videos when his channel was producing enough money to quit his job, roughly $4,000/month.
How many views make you rich?
Depending on how you define rich. Ali felt prosperous with over $100,000/year and 3–5m views/month.
Conclusion
YouTubers and artists don't treat their work like a company, which is a mistake. Businesses have been attempting to figure this out for decades, if not centuries.
We can learn from the business world how to monetize YouTube, Instagram, and Tiktok and make them into sustainable enterprises where we can hire people and delegate tasks.
Bonus
Watch Ali's video explaining all this:
This post is a summary. Read the full article here