TopShot and other NFTs Part II: Electric Boondoggle

It’s pretty simple. On AtomicHub at the top there’s an “NFT Creator” button. I screwed up the first run not understanding that I needed to create a template to generate the automatic serials in the minting. So there was an earlier series without proper serials that preceded this but those have been destroyed. I recommend reading the article they suggest from pink.network.

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My cut would be $150,000 so I’m rooting for you.

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Sir, we are in beta.

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Damn this is lit :fire:

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Has the porn industry not entered the NFT market yet?

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Serious answer is this is a test run for the minting and distribution process. Think of it like Cryptokitties to the UP Shot that’s coming. I still have quite a bit of editing and rendering to do on Series 1 of UP Shot though, so it’s going to take a while. I’m also trying to gauge interest to (1) get an idea of how many moments I need to create and (2) get a list of Wax addresses to transfer to now so it’s not a giant cluterfuck when I’m ready to drop.

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FYI: If you decide to buy Wax, I’d advise not using the crypto converter service if you plan to use something that has insane fees right now (e.g., BTC). I didn’t realize it at first but it looks like I paid double network xfer fees and then another 2% to Wax off the top. You have to “buy RAM” with Wax in order to do things like mint a significant number of new tokens.

It would be tough for me to characterize NFTs as anything other than a fee-generating racket currently. I mean, the problem isn’t the fact there are fees–I actually think it’s better than leaving the user to figure out gas prices and such. The problem is that they’re ridiculously high given that they’re uncapped which I think everyone here is acutely aware of from Top Shot.

At first I wondered why most of the collection fees for popular assets were 6% when the default value is 5%, but then I realized it’s because it adds up to an even 10% with the house fees added. When you sell or auction an NFT on Wax, the fee structure looks like this:

Collection fee: 0% to 15% (this goes to the asset creator)
Marketplace fee: 2%
Tokenomics fee: 2%

I set my collection fee on Cryptorbs to the maximum 15% because LOL that’s why (it should also encourage people to HODL and be tRuE cOlLeCtOrS). So when meb sells #3 for $1,000,000.00, that’s $150k to me and $40k to mp / tokenomics. I can actually do that though since I own the IP.

The collection fee for UP Shot will be 0% since it’s parody built on content I don’t own and not intended to produce any revenue. However, if someone was able to make a sale, it would still incur the 4% Wax fees afaict. I’m not sure what that might mean legally and also don’t care to find out. So instead of selling, we can do trades which I think might be the best way to have a marketplace. For example, I could just mint some Sklansky bucks and transfer them to your accounts.

You can apply to have original art whitelisted on the site, but it needs to be provably original content and has some other restrictions like this one:

Political Content

As a general rule, we don’t whitelist collections whose main theme is political. We do this because we want to keep the process as objective as possible.

And these:

Fanart

We allow fanart, but it needs to be visible that its not official. If anyone could interpret it as official content, we cant whitelist it

NSFW

Pure porn is forbidden but we allow nsfw content. If you apply for whitelisting please add that you want to be marked as NSFW which will blur all images unless you have enabled it in your settings

Royalty Free / Stock Images

We dont whitelist non original content. If you art is copied from somewhere else, we wont whitelist it even if you have all rights to upload it. We only whitelist content which is original or is part of a bigger project like a game

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after it was about to go to total shit–all the paid for media attention again so back to rocketships

Probably an “in case of emergency, break glass” thing they called in.

Stoked af

Canadian blockchain technology company Dapper Labs has secured $305 million in private funding — some of it from current and former NBA players, including Michael Jordan — to scale up its virtual NBA trading card site, the company said Tuesday.

Besides the NBA, Dapper partners include Warner Music Group, Ubisoft, and UFC. The company says the new round of funding will help it expand its NFT and blockchain products to a wide range of businesses.

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how do i find my wax address?

also: so i definitely can’t make mfc nfts?

is it just the .wam? i think i know it, then

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Depends a lot on how these deals are structured, but, I could see why in some circumstances you might want to bring in someone like Michael Jordan as an investor (thereby giving him some real skin in the game and a desire to promote your company for the long haul) instead of just writing him a big check out of your current cash flow (assuming you even have that much free cash at the moment).

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might’ve been the only way to get him on board

sure you could just buy your own the shot gif on ebay for like 15 but it’s gonna go for the moon on the blockchain

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Remember that “Michael Jordan is buying a ballpark” commercial? Then it turns out he’s not buying a real ballpark, just a Ballpark frank hot dog. They should do the same for this just slightly different. Michael Jordan is investing bigly in a company, but then we find out it’s not a real company–it’s Dapper and everyone laughs.

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i feel like mj’s investment in dapper is allowing this group of investors to use his name in the press release

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Might even just allow them to make Michael Jordan moments. Doesn’t he have his own licensing deals and that’s why he wasn’t in NBA Jam? or am I just making that up.

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mj moments would be so #topshot. they’re like, commemorating him signing a deal with dapper for the rights? the moment should be him signing a bunch of documents with 3 nameless lawyers in the room

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I vaguely remembered that too and did some half-assed internet research.

http://assets.espn.go.com/nba/news/2001/0924/1254672.html

Based on this, Jordan has separate licensing rights to a lot of stuff, but the NBA retained a few items. NBA kept trading cards, but who knows if the definition of “trading cards” used in a contract written in the 90’s would apply to Top Shot.

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