Looking for advice regarding NFTs

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We got our very own, low fee NFT platform that uses hive-engine.com as sidechain for minting. Check out nftshowroom.com :)

On it! Setting up my account for whitelist application :D
Just a question, is NFT showroom same as Hive in terms of consensus protocol? (sorry if this was already explained and I missed it)

I believe hive-engine has a similar dpos system as Hive (I haven't checked that properly since they've upgraded), so the costs are pretty minimal as well as electricity and servers running to maintain it.

Yes, NFT Uses HIVE blockchain as a base layer. And same hive account can be used there. https://tribaldex.com/ is a platform build on hive to tokenize things. @nftshowroom uses that.

Hi @blueberry404, so I've been in the NFT space for around a year now and I'll give you my perspective on your bulletpoints.

Concerns regarding environmental impact (for PoW platforms)

This is overblown FUD. NFTs in and of themselves don't add to the environmental impact of Ethereum, Ethereum is a lot bigger than NFTs and regardless, the blocks will be produced. This is only the beginning when it comes to blockchain tech and the idea that it shouldn't be used because of this is misguided. Not to mention the science behind the energy consumption claims of PoW blockchains has been convincingly debunked for anyone that wants to learn more about it.

https://youtu.be/lA3iBUqsGhY

The main issue with this concern is it lacks context, or rather it's only ever put in a negative context ie "Bitcoin consumes as much energy as some small countries" is something you may have heard, but it's also true that seasonal Christmas lights in America also consumes more energy than those same countries. Point being if you look at a graph showing the largest fossil fuel consumption industries from greatest to least, all blockchain is too small to even show up on that graph. I've had to explain this to a lot of people over time, so I could go on, but I don't want this to be too much of a book.

Reinforcing the "fine art market" - as in networked, famous artists got sales while small creators got nothing most of the times (this was proven wrong in some instances, but the big gains were pooled in the top ~20% like most markets)

This is definitely a thing, but the problem is people act like if your not making six figures on a piece than it's not worth it or something. If you sell a piece for $100,$500, $1000 etc, that's absolutely worth doing in my opinion and I know tons of people, myself included that have sold dozens of pieces around these price ranges plus or minus.

Seeing low effort memes soaring in value was disheartening, it basically reinforced the above point - it looked like it was all about notoriety rather than effort

This happens because of mania primarily. There are real art collectors in the space and there are people looking to make a quick buck by flipping a gimmick, and everything inbetween. If you're a serious artist, connect with the other serious artists and serious collectors and this sort of thing fades into the background more.

Lack of intrinsic value - I'd rather make something that the common person can use and enjoy, not a luxury toy that can be bought only by whales

Nothing has "intrinsic" value. Things have value because people decide they have value. Gold is just a shiny rock, so are diamonds. If someone wants something and is willing to pay for it, it has value. If you want regular people to be able to afford your work, you can price it low, although I wouldn't recommend that.

Theft and lack of authenticity - some platforms allowed exploitation of stolen art works

This is just an unfortunate and annoying thing that goes with decentralization. Major platforms will act quickly if fraud found, but sometimes its after someone scammed a ton of money. The only thing I can say here is this is not really a knock on the technology, it's just people being people.

Excuse the fact that I'm being pretty matter of fact about these things, obviously it's all just my opinion based on my experiences. Just trying to be concise.

Thanks for the input!

I am not on any side - I am on the fence because I could not find good evidence for or against and I generally don't get into something just because it's trendy. My original plan was to wait until ETH 2.0 rolled out, but with all the new non PoW platforms (NFTs or other) I thought it would be worth poking into this again before 2022.

I still think the PoW vs PoS argument has some weight, beyond the energy consumption (as in gas fees) - so if I had a choice between an ETH main net platform and something that bridged over to Polygon to cut fees, I would still pick the latter.

In terms of the fine art market, I never said there is an issue with selling for less - the issue is being cut off the circle if one is not well known or an insider. I have seen a few smaller artist having success and that was encouraging, but it seemed to be the exception. Some incredibly talented folks I know ended up falling flat simply because they were out of the loop, which was a shame.

There is intrinsic value in things - the way I see it is like comparing a project that has real use cases (something like ETH that has a whole ecosystem and countless use cases) vs a hyped meme coin (SHIB?) that spikes when people suddenly buy en masse (but will also fall quickly once the frenzy fades). What I meant was, is there a way to create materials that have real use for the average art or NFT enthusiast or artist? Can this go beyond collecting? There are interesting cases for using NFTs, such as ticketing or community, governance and membership management.

What I am asking is, can this grow into something more tangible for the average user now that the frenzy has subsided?

Well again I can only give my opinion on this, but based on my understanding of this tech I think what we have now is akin to the internet in the early 90's in terms of what stage we're in. The use cases of NFTs go FAR beyond art, just like the use cases for blockchain go far beyond tokens and money.

Personally I think NFTs will be one of the innovation branches from blockchain that will totally change the world. I know that sounds a bit hype'y and hyperbolic, but I don't know how to say it with less emphasis than what I really think.

Lastly, as others have alluded to, if you don't want to fuss around w gas fees or if you're really not down w PoW chains, you're in the right place because Hive not only has NFTs, but as you already see you can earn here just for the posting. 😊

yep just got whitelisted the other day for the "local" platform :) lovely support team here

I saw there is an option for commercial licensing, maybe that could be a start for more utility based mints