I find it very funny that such a high % of NFTs are just appeals to the navel gazing myth of NFTs.
Because, surprising no one familiar with how online works, it's a marketplace, and a particularly insular one, so to be competitive you need to appeal to the interests and sensibilities of the patron class
And what are the patron class of NFTs interested in? NFTs and crypto.
So what do you make your NFTs about? NFTs and crypto, of course.
If you scroll down any of the various marketplaces, you'll be greeted by a long string of embarrassingly self-referential artworks
The common theme, of course, is to place the entire concept of crypto, and thus the patron by extension, in proximity to wealth.
The content speaks for itself, the principal interest is money, the motives for engaging with crypto and NFTs are as a financial vehicle. This is why people who paid $7000 for programmatically generated lions tailspin when you don't take their ownership seriously.
The sheer number of entires that amount to "I animated the Ethereum logo" is
well
cringe-worthy
• • •
Missing some Tweet in this thread? You can try to
force a refresh
When Western Electric and Warner Brothers needed to agree on a standard speed for the Vitaphone sound system they picked 90 feet-per-minute, a nice round number that was already commonly used in the 1920s
This also translates to a 2.5:1 relationship with 60Hz electrical systems.
They considered a 2:1 relationship (30fps) but the 112.5 feet-per-minute speed put too much strain on the nitrocellulose film, resulting in a lot more breaks during recording and projection.
The reasons for it being "too slow" are actually pretty complicated.
For optical sound-on-film (which was in its roughest proof-of-concept phase at the time) 60 feet/m was way too low of a sample rate for pleasant audio.
I'm not doing an AI video because I promised myself no more moving targets, but this would be the thrust of a big chunk of it: there's a real good chance generative AI is just too damn expensive for a product that's rapidly displaying its fragility.
Also, like, for ChatGPT, every day on Reddit I see the dumbest people you know spam it with inane nonsense until it gives them the answer they want, and that behaviour just isn't sustainable at scale given the compute cost of every query.
I experimented with various generative art tools during the winter to get a sense of the user experience & what this stuff actually does and almost instantly I found myself coming up with a prompt and just recycling it 20, 30, 40, 50 times until it gave me something... tolerable?
Okay, so, back in April I snapped at James in reply to a tweet that was linking to this video (which James has since delisted but not deleted) and I want to talk about the full context of that but I don't want to make a video, put your beatdown memes away.
The first bit of context is that I initially got keyed into James to fact-check his claims about indie filmmaking in Canada. As a filmmaker the entire Telos venture was immediately obvious as a juvenile fantasy dreamed up by someone with no idea how to make a movie.
Just wild claims about their plans that weren't worth debunking because they bordered Not Even Wrong. But in watching one of these pitch videos I noticed that he had a $4000 current-gen camera in the background as a prop, and that seemed both pretentious and weird.
Okay, so, GameStop earnings report came out yesterday. Apes in my mentions have been super dickish for the last three months insisting that the company "is now profitable" but, shocking only them, GS lost money this quarter.
The current cope is that GS lost less this quarter YOY, but they've also shrunk the company pretty dramatically in the last year. Loss relative to revenue is slightly improved but still bad. GameStop remains massively over-valued relative to performance.
Those are the boring numbers rooted in reality, though. What we care about are the insane theories.
Bolger and Ball both pitch Metaverse visions where you can hide a pair of digital sneakers in a spot and they'll still be there years later, but neither addresses the implication that this inevitably creates digital littering.
Also conspicuously absent in all the metaverse reading: no one talks about malicious design.
Multiplayer FPSs used to have user-generated skin systems, you could build and share custom character models and depending on server settings your skin could be automatically pushed to other server participants. Exactly the kind of self-expression the metaverse promises.
The thing that makes the meme stock saga keenly fascinating isn't that it's people piling in on a bad stock based on questionable hype, that happens all the time, it's how it's persisted and grown based on complete mythology.
The Ape theory of market mechanics is that these companies, GameStop, Bed Bath Beyond, AMC, are otherwise normal, healthy companies that are being targeted for destruction by predatory hedge funds who use criminal naked short sales to drive the company out of business.
And yet in Bed Bath's 93 page bankruptcy petition, which includes 25 pages of "here's what went wrong," short sales, hedge funds, predatory securities trading, none of that gets even glanced at. Not even mentioned, let alone cited as a material influence on the company's decline.