How Jeffree Star and Bhad Bhabie are destroying the earth (NFTs)

hello and welcome back to talk about whatever you want, you're just in time we were about to talk about the world of

nfts

and why they are everywhere even though no one wants them, there is a debate with

nfts

artists and certain uh cryptocurrency enthusiasts claim that this is the future of the art world and that you have to accept it or you will be left behind. Other people claim that nfts are bad for the environment, so every new artist that announces they're releasing an nft is Getting so much backlash makes me wonder why they're still doing it, but we'll look at all of that right now, but first , today's video is sponsored by Raycon, so I'm not sure if you know this, but every once in a while. and then the world gets a little loud, whether it's just the commotion outside or the bustle of your neighbors or just the clinking of swords and shields as you desperately find your nation facing an incredibly ancient evil, there are many times when a Sometimes you want to drown things out and that's where the Raycon premium wireless headphones come in, although they don't charge you an arm and a leg, they still give you all the quality not only do they sound good, they look good too, you can find one that matches any mood, of course, I'm thinking of using blue for the next one.

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I'm so tired of saying it means non-fungible token. This video from the Wall Street Journal explains very succinctly in five minutes what nnft really is. This is Nian Cat. He is part cat and part pop-tart. The rainbow feline gif was a viral meme in 2011. Fast forward to February 2021, the original gift was sold in an online auction for 300 ether, this is what gets me if people talk about ether or ethereum or what whatever that's the currency these nfts are sold in so I thought 300 doesn't sound like much but then this is what they go on to explain it was equivalent to almost six hundred thousand dollars at the time that's obscene you're probably thinking they own the rights did pay six hundred thousand dollars no this is what kills me about nfts You might be wondering how anyone can own the original copy of an evil gift that was ubiquitous on the internet.

It is because it was sold as an nft or non-fungible token. I hate the word fungible, which acts as a digital certificate of authenticity. What you just said. it's true it's just a certificate i really want to emphasize this is a receipt it's not the copyright of the image the person who won six hundred thousand dollars does not own niantic rising to a market capitalization of at least 338 million from approximately 41 million in 2018, but skeptics wonder if these assets are really worth the value assigned to them. you exchange them for a single five dollar bill the value of your money is still five dollars regardless of the fact that it is now in a different form non-fungible assets are the opposite each is unique and cannot be easily replaced by something similar, OK?

Think about the Mona Lisa, it's an original work of art, it can't be exchanged for, say, a Mona Lisa poster from the Louvre gift shop, I mean, I could do it when I walk into my museum, it was theft, robbery era to the Louvre, live broadcast, how many of you would watch it? It seems like if we get enough viewers we could get a sponsorship, that's all I'm saying, this information is also encrypted which ensures authenticity and scarcity of nft, by doing so they solve a difficult problem for digital creators on the internet, how to make your creation scarce and therefore more valuable, so with nfts you end up having scarcity because they are not fungible and that is why there is only one of these tokens that can exist, it cannot be exchanged for anything similar because there is nothing. similar that exists um you know you're not that guy but like I'm on my PC now this is something that I'm technically in possession of what was achieved by spending six hundred thousand dollars you don't have anything that anyone else has and that's what bothers me about the nfts, the scarcity aspect doesn't make sense to me.

NFTs have been applied to video games, digital art and sports. OK, one example is NBA Top Shot, which allows users to purchase a collection of digital basketball highlights, such as a video clip of them. they're trading cards, they literally said what if we made trading cards, but instead of making them, nothing was printed or made and people just gave us money. I don't understand why people buy them. Shout out to the small artists who are making money off of them. They NBA Top Shot had recorded $538 million in sales since it was released in October 2020. $338 million for video clips for video clips why am I streaming?

Look if they're cutting my stream, you better keep those mp4s if I'm downloading them, don't let them disappear because in 50 years who knows where I'll be, but they might be worth it. That said, I appreciate nft's ability to finally make digital artists pay big bucks. I appreciate that people can now make millions of dollars with digital artwork, that's all as a digital artist, someone who has actually spent hours and hours painting paintings. I've often thought I wish this were physical so people would feel more obligated to give me money. That said, there are many ways you can monetize your digital art, you definitely don't need nfts to do so, along with all the hype around nfts, experts have raised some concerns, one problem is that not all nfts verify the person who sells a piece of digital art is actually the original creator.

This is difficult, especially in online marketplaces. One of the concerns is that anyone can go to many of these exchanges and say I'm the person who created this token and it can be very difficult to verify that. especially if you don't know who they really are or they are telling someone they aren't, people are stealing art, stealing people's art and then selling it like nfts does, does it never end? How bad are you guys? That's all. nft my summary in case you haven't received it, it's just a receipt, which is absolutely the best way I can explain it.

An NFT is just digital proof of purchase that you spend money on something, it doesn't mean you own the NFT. in itself it has no real value. I don't understand why people are spending hundreds of millions of dollars on them, but clearly you see that people were able to sell a collage of their digital art pieces for $69 million, not ironically, isn't that the case. It was speculated or estimated that one individual spent $70 million on an nft that was literally a collage. It's not even just memes or images, but people are selling the meme ideas as nfts.

This is bad, baby, it's okay, according to the billboard that catches me outside. bad baby selling the iconic meme as an nft on his 18th birthday he's literally selling a moment in time oh they have a trailer how about you catch me on the side? How about that's suddenly gigantic? They catch me outside. Yeah, they catch me outside. How are you? that the best meme of 2017 is already out, okay, how about you catch me outside? It's time to throw society in the trash, humanity slapped, we did some crazy things, we invented music, we invented art, you know, we came together and we parted, but I think I've done it all, I think Jeffree Star had the nft.

Actually, what is this Jeffrey nfts collection? It appears to be several files from a photo shoot featuring Jeffrey as a robot in a package like a doll and a gif of a robot eating so you can't get the doll you literally only get this image we've literally figured out a way not to sell nothing now i want to get into the bad, what is the problem with nfts? Well, it turns out that they are terrible for the environment, as we briefly explained. I mentioned at the beginning that the currency they are using to trade these ethereum nfts has to be mined, the reason bitcoin has value in the first place, you can't just create your own bitcoin, bitcoins are literally mined like in Minecraft, it's a A group of people. with computers hacking the code and trying to find bitcoins, that's a real thing, not a scam, etc. an obscene amount of electricity so let me run the numbers on exactly how much these nfts use two years ago jonilla mercier, a french artist known for his perception of bending light sculptures, took on a new role as a climate activist and vowed to reduce energy of the. use by 10 percent each year and then a few months ago, over the course of a few minutes, her progress was erased.

In a nutshell, they just say that this guy used exactly the same amount of energy that he had reduced in the last few years in just a few minutes of selling an nft, the culprit was the first Mercier train crash. The event involved the sale of six so-called nfts that took the form of short videos. The works were auctioned and sold out in 10 seconds by the thousands. of dollars the sale also consumed 8.7 megawatt hours of energy that figure was equivalent to two years of energy use in the de la mercier studio since then the art has been resold requiring another year of energy the bill continued to increase and unfortunately as much as this He didn't care, it was out of his control now.

The use of electricity that goes into the blockchain process behind nfts is not only ridiculous, it's simply unnecessary and lastly, we're about to talk about artists who keep advertising nfts and then receive um, I don't. I don't want to say I'm in trouble, but basically in trouble for them, for those of you who don't know the gorillas are a pretty good band, but the problem with the nft release is that they literally have a message, they just have songs that are about what we're doing to the

earth

and why it's not a good thing, they announced it was exploding and Twitter understandably

star

ted melting like the polar ice caps, I'm not sorry it's funny because we were talking about the environment anyway , Twitter

star

ted melting because finally someone announced an nft that completely disagreed with the message, someone said: I'm really very sad and disappointed for the gorillas who make nfts, they made a whole album about the environment 10 years ago but now don't hesitate to do something that helps destroy the environment to make money even if you don't know about the environmental impact that just means you agree with something without doing any research remember when jamie said the things you associate yourself with are always good people, that's valid, another person who announced it that they were making nfts was musician's ark, so he announced that he was going to release an nft font.

Now listen, listen, as much as I adore her, really, I have to say this is garbage even when As far as nfts go, this is bad even for an nft since you can't sell a font. I mean, if I can, I bought fonts. Let's not twist it, but this is just a picture. You're not even buying the font. You are only buying one. digital image of source is 28th ethereum how much does that convert to 20 eth to usd? Holy shit, apparently it's 54,000. I don't know if she set the price at 54k or if that's how high it went because someone bit it.

Basically her fans were saying that you can't advance in the future if you're here trying to make money from things that are going to destroy our future, so people first say, "Hey, this is some kind of scam" and she starts to unravel . This whole conversation is like discord about how it's actually not that bad in terms of energy costs. I understand that she might be in a difficult situation because I assume she signed a contract, but I admit that they are not good, so I have a b. For this third part, I didn't want to just talk about the artists who got angry for announcing nfts.

The third part b is actually artists announcing nfts and then getting so much backlash that they may not announce something. They withdraw the nfts. Look, I've seen it. It happened twice, the first one I actually saw was um cairo cara bonito, which I'm really glad about because I wasn't willing to stop standing, I wasn't ready, okay, I was about to drive myself up against a wall if I had to feel a in a way about kkb for announcing the Goddard nft that no one asked for, so cairo cara bonito, one of my absolute favorite bands, had announced that they would be releasing the nft, however, sarah from caracao bonito then came back and posted this statement and also the nft.

Well, we are going to eliminate it, we care about the environment and yes, we did our research and chose a platform that does not depend on cryptocurrencies for customer transactions, as if we believed it would be a sustainable option, butWe're not going anywhere. Also, how difficult is it for another group of artists? Well this is even more so, the art station website I'm quite familiar with announced that they were selling a collection of nfts and then immediately within a few hours they had to take it down. Despite our attempts to validate our approach, we clearly made a mistake and admit that we were wrong.

The downside is our hope that at some point in the future we can find a solution that is equitable and ecologically sound. It will take us time to reflect on this and we will do everything we can to regain your trust. That apology. It was something incredible, far be it from me not to give credits, where are the credits? I sincerely appreciate this. This is an apology that really says we can't go back and not announce it. We are sorry, but we were wrong and we are not going to do it. do it again shout art station shout carol carobonito you know what I mean I don't think anyone is the devil for trying to do it really well who knows little nausea hasn't released an nft yet I don't understand why people keep advertising nfts stop advertising these things, aren't they great, there are other ways to make money, I assure you my main opinion on this you will never understand anyway, if we've learned anything from this it's that I can't wait to reveal my first merch drop actually It's on nft instead of honey anyway I'll be here all week folks at 2pm CT, if it's Monday, Wednesday, Friday, that means I'm going to upload a new video here, if it's Saturday, that means I'll be live. on Twitch, which as you can see in my Twitch chat is a lovely experience, very relaxing and no one is actually being held hostage.

It's all voluntary, so I can't wait to see you there. It is mandatory, of course, I will see you tomorrow, unless, of course, tomorrow. It's Sunday, in which case just watch this video again, okay, bye