"and this japanese text means 'otter' because I love otters I mean I have otter posters all over my wall and half of my shirts have otters on them, and the spider is because I like spiders. I don't know what the rose is for though"
@@oberyn5474 A stock is a digital representation of something that is REAL. If I invest in Apple, it is me investing in a company that produces something and the VALUE of that company that it has due to what it produces/does. Crypto is nothing like a stock in the sense that the only value it has is by how much people decide to give it. It has no value outside of the digital world. It does nothing for us as people. I see no difference between that and a NFT.
Unfiltered opinion: The reason Jimmy Fallon and Paris flaunted their purchase is to bring more attractions to these NFT so theirs can go up in value. Essentially. These two decided to make this extremely weird unnatural segment to get a nice little increase on their investment. That being said, when you buy pokemon cards and do the unboxing you do them for the entertainment you’re not showing off thinking « damn if these viewers all buy Pokemon cards mine will be worth more » because thats just not how it works. If you do something cringe we’ll tell you no doubt
Pokemon Cards are collector items. Every collector item is overpriced because it's a race for who gets the better collection. But NFT's are claiming to benefit artists when they are stealing from artists.
@@nourmuhsen how are they stealing from artists? I watched an unknown artist i follow called rhett/mankind make $600,000 in 10 minutes. Now he's living good
That's true. Allot of youtubers and streamers did pack openings, knowing that the prices would go up the more they did it. Even if they don't admit it, it's pretty obvious it would happen, and it did. People made allot of money
@Adam W, there is a lot of people taking the work from some artists and selling them as their own as there is literally no control in the sell of nfts. Also how would it Benedict a RUclipsr if the prices of Pokémon packs go up? That makes no sense because they don’t distribute them.
@@chaunceyloveshack9530 The fact that he actually gave SOME back just made it worse. Had he stuck to what he said about caring for himself then it would have been more admirable.
Frankly, I was in the same boat, I don't like nfts but wasn't quite sure why and this answers it. It's just another way to make rich people more money and have poor people waste their savings to try to fit in and join the hype as well as try to grasp at straws for status. It's ironic because most people who buy nfts would probably not be able to get rid of it as quickly as they would like for profit.
I'm pretty heavy into crypto and even I don't really get NFT's. I mean I can see their utility in the future for things like games where you loot some piece of gear an can actually sell it for some token that you can cash out instead of having some "gold" in a game (like World of Warcraft). Or something like hearthstone where you actually own the cards and can trade/sell them and make some money outside of the in game currency but this whole selling a random picture of something makes no sense to me.
This is something I notice a lot. People will shit on nfts for being bad for the environment but then be pro crypto. One of main reason nfts are bad for the environment is that they are purchased with crypto. It's good to see you reflecting on being sponsored by coinbase.
I do think partnering with and promoting crypto/crypto companies like coinbase is being part of the problem. The “line goes up video” you mentioned does explain why crypto itself is a problem and not just NFTs. However I do believe that you had no ill intent and do just want to do cool things for your viewers and the community. Really cool to see someone self reflect deeply and ask for their community’s thoughts, so huge props for that for real
Accepting sponsorships of any kind is being part of some problem (e.g. the very process of informing people is, technically, environmentally harmful). The line of moral acceptability is convoluted with shifting boarders.
For determining if you are part of the problem, two questions come to mind: How are you using your money (especially money from potentially exploitative sponsors), and how are you using your platform? I have a positive impression of you in both aspects. I think you use your profits to create higher quality content and to shift some of that money from corporate hands to charities and grassroots communities. And videos like this show me that you use your platform with some responsibility, to be transparent and informative and not shy away from criticizing the hand that feeds you when it's deserved. I think those make you a good example. And at the same time I know my impressions are only based on an image of yourself that you control. I don't know the nitty gritty of your actions behind the scenes, and how that might change the answers to those two questions. I just like what I see, and I hope it's because your values align with the good of the people and that it will keep you on a good path.
This is exactly what the project im working on does The Canopy Club coming soon! We are partnering with Non Profits around the country! NFT can be used for good also all of our servers and any infastructure will be solar powered as we have a solar company partner! Coming down the pipeline! i love your synopsis of NFTs need to be used for good and i think they should be!
I wouldn't say that he shift money from the corporate hands as you say, they probably make more money because of him and he gets a portion of that, so its still a net positive for the corporate hands
Mmmhh "especially money from potentially exploitative sponsors"... enough with the pretense, enough of the way of viewing things from a single point of view, enough with the hypocrisy of "I laud you for what you do until you do something I don't like".
There's a big difference between doing transparent paid sponsorship and shilling for a company without disclosure. The fact that you publicly question whether coinbase is a problem or not is a good indicator that you are on the correct side of the line.
"So you invaded Poland?" "Yes." "So do you want to give it back?" "I mean, I could do that, but I want to look out for myself, so no, I am not gonna do that."
I like the idea that nft's could potentially support artists, but what it seems like nft's are actually is just buying the receipt for someone elses groceries
Not really. It's the same as if you have a banksy print. It's worthless. What makes art worth it, is the artist, scarcity, popularity and verified documentation. Nfts hit those catagories
@@Silverwidows No, because you don't have the print. That is the whole point. You don't even understand what you're stanning lmao Verified documentation? Popularity? Anyone can create fake wallets and scam people by selling an NFT to themselves a bunch of times. It's pure speculation, nothing more. Also I pity you for not having any idea of what art is about
I don't see how an easily replicable image have any value, NFTs is supposed to be about ownership but people are just using it for jpg. NFTs could make sense in tickets for a concert where the ownership actually means something.
The coinbase ads you run for The Yard and LACS did cross my mind while I watched the Folding Ideas video. I don't think you're doing anything wrong but I do think you should hold some responsibility for what you choose to advertise. Mostly because some portion of your viewers are children. Either way I appreciate this kind of earnest attempt to start a discussion and I think you're one of the best streamers around. Not only because you support melee but also because you're very entertaining
Crypto, Dollars, Art, NFTs - it's all intrinsically worthless. They all just have a value because we assign that artificial value. The thing that bothers me about NFTs is how they're purely speculative, and people pretend that "bored apes" or "crypto punks" are beautiful works of art. I doubt that anyone has ever cared for the art. It's all just speculation and a grift. That's what bothers me... and I work in crypto. I'm a software engineer who programs smart contracts for token/NFT people and I've been up close for a while now. it's all just pure marketing and hype. Heccin disgusting. But the programming is fun and man's gotta eat :'D
@@Whatsthevibe69 that's not intrinsic value. That's a societal value placed on a representative medium, which we collectively call the American Dollar, Canadian Dollar, etc etc. Physical money is similar to crypto, NFTs, etc. In that It's only worth something because a certain number of people hold value to it - although the scale of how many people is incomparable between those. A huge difference is the governing bodies that regulate the standard currencies vs the new online currencies (crypto and NFTs namely). Money on the whole is just a place holder we use to exchange for goods and services. Alone, without the socioeconomic structure behind it, money is paper, metal, digital numbers on a screen, or whatever other material used to make it with no inherent value but an agreed upon representative value.
@@RGoots The Dollar's value doesn't come from just what we decide on. It is a physical representation of how well America is doing economically. It is closer to a Stock. It represents a physical asset. The country producing the currency. What does Crypto represent value wise? Nothing. It's only value it represents is itself which we give it.
The difference between Crypto and the Dollar is that the Dollar has value due to the country producing it has value. Much like a stock has value due to the company that you buy the stock from has value. The only value Crypto has is what we give it. Nothing more or less. It isn't a representation of anything tangible. Unlike the US economy which has MANY tangible assets which give it's dollar value.
@@PuzzleBox83 Shit's all made up buddy, the moment we humans invented money. Companies are made up, and so is their value. Laws are made up. All of it. The fact that all of them are made up doesn't mean that they don't matter. The dollar doesn't have any more "real" value than any crypto, it's the same thing just jumping through more hoops. Just like stocks too. Companies aren't a "real" entity, they're just codified in our made up laws.
The problem is most of those "alternative" currency started out as pump and dump. You can never tell what is a serious alternative currency until a hundred years in the future. That being said I wouldn't trust ANY currency that isn't based of the value of anything other than how much people give it. I see no difference between giving a bitcoin a value and giving a NFT a value.
@@PuzzleBox83 It's definitely become that way recently. But if you look at the current state of the American Dollar, or any other traditional "standardising" currency, resource or asset, I can't see a way to preserve value in places of weak socio-economic status
my current understanding is that NFT's were an existing technology that Gary Vee eventually discovered, he then called up tons of extremely influential (and rich) people to blow them up, creating the biggest scam of the 2020's.
I’m gonna be honest, pushing crypto is just as much of a problem as pushing NFTs in terms of the damage to audiences and the environment, granted pushing coin base and straight up pushing rug pull scams aren’t on the same level in terms of like ethics.
I don’t agree. Cryptocurrency is much more accessible than NFTs are, and follows most of the same rules traditional asset classes do. You can buy one dollar worth of Bitcoin (which has proven its value), but you cannot buy 1 dollar worth of an NFT that has proven its value. The risk is extremely different, where NFTs are only fiscally responsible for already wealthy people to invest in, because they can buy ones that they are pretty sure will go up in value, otherwise, it’s just gambling with worse odds. Granted, there are a multitude of issues regarding regulation and market failures with crypto, however, they are very different; while crypto is showing growing pains, NFTs are a shrouded form of boosting and maintaining wealth at the expense of naive people.
I agree with Johnny, especially if you don't know what crypto is. i think its ok if u really believe the blockchain is the future of society and bitcoin and other coins will be a real, primary transactional resource, but idk if "advertising cuz they give a shit ton of money" is a valid justification, especially since many of these people who do get coinbase wont know how to use it properly/will lose money.
Pushing mainstream crypto is no different from pushing stocks at this point, its only the meme coins (save the kids, squid game coin, etc etc) which are as bad as nfts
@@alexchang6314 I don't understand how Crypto is any different than NFTs. Crypto reminds me of the doomsday preppers who thought beanie babies will be the currency of the future. Real life currency is based on the value of something. The US Dollar is based off of the US Economy. The worse our economy/the more money we print, the less it is worth. The better our economy which leads to us printing less the more it is worth, but it is all based on something real. Crypto is based on nothing other than how many people buy into it.
@@oberyn5474 Explain how Crypto is the future when there is no regulation of it. Nor can it be regulated. The only value it has is what people magically give it.
i love to see you giving ur opinion on shit Ludwig, i feel like you're the only guy who makes good content, always tries to be as honest as possible with your viewers and has opinions that i most agree with
Thanks for bringing up Folding Ideas video on NFTs. If you haven't seen it yet, don't let the video length put you off. It's one of the best videos I've seen on RUclips and is well worth watching
I often feel weird watching content sponsored by the likes of Coinbase, I do also have that feeling that crypto might also be part of the problem. But overall, at least you keep it real, talk about these stuff and obviously specify that the content is sponsored (not like many celebrities and athletes) so I guess there is a line somewhere for your approach to crypto, but as you say, sometimes its hard to put it into words without being and expert in the subject
That Crypto ad was absolutely fucking insane LMFAO "Buying crypto is as brave, innovative, and important as climbing Mt. Everest or becoming an astronaut and going to space"
To me crypto is just as bad as NFTs, it always made me uncomfortable seeing those coin base ads. Though I am someone who doesn't do any sort of investing or stocks or anything like that, my money from work all goes into living
Do you guys ever experience a sort of disassociation with yourself as well as reality? Without sounding too hippy, anytime I see a celebrity flaunting their unimaginable wealth I get taken aback and I'm like damn I will never be that wealthy. I wonder what it took for them to win the lottery of life. Then from there, I think to myself what do I really want from life? If I can't live a lavish life like those who I see on social media every day, how else will I find happiness or self-fulfillment? I'm not saying it's not possible, but it's just a sort of self-evaluation of what I want from life and the answer is usually unclear for me. Especially being a recent college grad.
Honestly, I like to believe the people who do have that much money, typically NEED it to feel fulfilled, and if I ever find myself relying on money or currency for happiness, personally, I've made a mistake. True CAREER satisfaction should be found in giving work to a community or interest that makes you happy, while true self fulfillment is too individual to define as an absolute, I think it can be agreed on that money and fame isn't really on the table for what makes someone valuable to themself at the end of the day. However in a world where money buys experiences and experiences enable the satisfaction of interest, adventure, opportunity, etc. it can be extremely easy to fall into the idea that money does in fact buy happiness.
True happiness (for me at least) comes from things that have no monetary value: spending time w friends/family, giving back to community/volunteering, trying new things, spending time in nature. Once you realize that true happiness doesn’t come from money, life gets a lot better. Signed, a fellow college student
Y'know, I went to the market today woth my roommate. It's a weekly market of our little region in Germany where dairy farmers, fishers, florists and people from different countries like Turkey and Greece sell their goods out in the open. So the weather is great and her and I walk across the market. Everything we want to look at is right in front of us. The sun is shining and people are actually happy and kind (you don't see that too much with our gray weather). I talk to people, I make jokes with my roommate, we drink a coffee on the little town square in a traditional café. I come home with a lot of fresh, green vegetables from my region, fresh from the ground, and think to myself "wonder what's happening online" and find Lud's video. And now I'm sitting here thinking... Wow, how sad is this new world that we have of today. I look at my vegetables, more valuable to me than any NFT, and have to wonder why they make me more content than the whole idea of NFTs. It's because nobody told me I needed them. It's I actually wanted them. When I bought them I was able to hold them in my hands, feel the freshness and the dirt of the ground they were in. It was not even a product to me (because I feel like a product is something in a store on a shelf). It was a ware or maybe a trade item perhaps. The people I bought it from were humans, they laughed, we joked and in that small time we had, we were on the same level on opposite ends of what a business transaction is. We didn't want to scam each other. We were happy that I helped them financially and they helped me to my sunday dinner. Seeing these sad millionaires trying to manipulate me to buy a token for what is not even the rights to a picture of themselves is just so alien now. Why are they trying to manipulate us? Why do they have to be above us? The farmers definitely had more money than me, but they didn't go to a show to identify themselves with their homegrown carrots to sell them to me now did they? I'm glad I'm not a millionaire. What a sad life does it have to be for your values to be so astronomically up your own ass. Edit: Maybe to answer your question from my perspective... I want to be a human among other humans. I want to feel each other's happiness, even if I may not be a rich man at the end of my life. Fuck, my grandparents weren't and they were more happy than most of the population of the western world of today. I want to have the freedom to sit down on the town square with my roommate and to take a sip of that coffee I so enjoy. To be honest, I just want to be content. I don't have to be a millionaire to be content. Actually, although the opinions differ, I don't think you need a single dime in your pocket to be content with your life.
@@Metroyeti17 Thinking the same thing, true happiness no matter what walk of life you are. Doesn’t even matter what you’ve done before, he takes the guilt hindering you from becoming happy.
Ice Poseidons pulled a lot of scams in the past, but this one could have real consequences. In the eyes of the law, he gave a full confession no holds barred. As for the people he stole from, Well... You're saying hey I stole your money and I have lots now, sort of gives people the incentive to physically go after you. As for the coinbase sponsorship, I wouldn't say it's comparable. You're straight up saying hey they gave me money to promote them, And not telling people "Hey you should buy this thing, it's the future and will definitely make you money while flexing on people who don't have it"
Sadly the legal surroundings of crypto is pretty hazy. There’s been a lot of rug pulls or pump and dumps but no legal repercussions. He can always hide behind the similar case of squidcoin which was similar yet prevented buyers from selling their shares except for the owner which didn’t have any legal backlash. He can probably just argue that they had the option to sell but chose not to and get off scot free.
@@bruh1704 none of the coins that are put on coinbase are rug pulls, they have standards and you also have to pay the larger exchanges significant amounts of money to get listed from my understanding.
NFTs are like trading cards, but there's no physical product. I think if people looked at them like trading cards they would be a lot less cringe. However, people think that they have more value than that and that they actually own the representation. I would never say that I own the rights to Patrick Mahomes's career just because I have his rookie card. But time and time again we have people who don't understand the implications of NFTs like the people who bought the Dune NFT and thought they owned the rights to it, or the Charlie bit my finger and actually took the video down. And then Jimmy Fallon and Paris Hilton acting like they have a connection with their NFTs, even though it's clearly apparent that they don't. It just feels very transparent that most people in NFTs are in it for the money and don't care about anything else regarding NFTs.
I think it’s very good that you are so self-aware and transparent with your audience but then again as Bo Burnham said: being self-aware about doing something you hate doesn’t save you from the act. So at the end of the day, do whatever you think is best
Being honest, I do think there isn’t much difference between having coin base as a sponsor, and supporting other crypto projects. I know you guys are all well-meaning people but I still think it’s not the right choice, and personally I’d prefer if The Yard and other projects were sponsored by something else, as I genuinely want them to succeed.
genuinely why tho? bitcoin is ok eth is ok why would saying “this show is sponsored by coinbase” be an issue? it’s a platform to begin with not a coin, no one is asking you to buy coins nor promoting them it’s just their platform. That been said i think crypto is the future easily.
At least you’re consistent. Pointing out problems while continuing to endorse them. Parasocial relationships being the other obvious example. I think you’re doing better than the bare minimum and there’s plenty of influencers you couldn’t say that about. While your views may seem hypocritical, your self-awareness and the level of honesty you maintain is beyond admirable. Controversy breeds hate and anything confusing(crypto/nfts/etc) is bound to bring controversy.
Ice Poseidon being able to receive peoples money despite his track record over the years proves that people nowadays throw their money at the dumbest things.
Of course they do lol. Why do you think streaming is a viable career, because dumb people send money to millionaires/people with way more money than them
I feel like advertising a service in which you can purchase things is extremely different that advertising what is essentially stock that you have a vested interest in. For instance if you were advertising a specific crypto coin that you had invested in that would be completely different scenario. You are not directly profiting off the well being of others
Honestly if that ad was for almost anything but crypto it would be pretty good. Imagine how hype that shit would be if it was for a game. Hell yeah I would play it lmao
I love this channel, it’s awesome & a has really nice way of interacting with viewers without being too ‘parasocial’ :) On the topic of nfts, I personally think that being sponsored by companies who support crypto isn’t that great of an idea. They’re only going to benefit off of you, which then leads to more exposure to the ‘crypto world’, I guess. Already, I’ve read articles about people freezing in their homes because of the effect NFTs truly do have on the environment. I’ll admit it, I was wary at first too, but after looking into everything deeper, I got the full picture and don’t like it at all. I’m sure you could easily find other sponsors who’d be happy to work with you! That’s just my take on the whole thing, but you do you! ^_^ (this is a genuine tone btw, i’m not trying to be an asshole😅)
I do think that the coinbase ads are part of the problem, and that it's sort of irresponsible to push it to a young audience such as yours. However I'm glad that you're opening up about that insecurity, and I'll happily wait to see what comes out of this.
The actual artists and normal people are barely making any profit on buying and selling NFTs it's mostly just the rich getting more rich and a easy cash grab at this point
Crypto is different. Pokemon would be more similar imo if the nfts held some sort of cultural nostalgia to them that have survived the coming of age of an entire generation
imo, i do think that hyping crypto but not nfts is drawing the line a bit below where you are. its probably hard if coinbase is such a good sponsor, but i feel like the folding ideas video does a good job of explaining why the flaws of nfts are linked intrinsically to the flaws of crypto.
I'm glad you're able to be critical of your own practices, it's a good habit to get into. And yeah crypto is a very similar boat to NFTs, honestly I think NFTs being so outlandish and so clearly a scam has taken some heat off of crypto unfortunately. End of the day crypto is also based entirely off of the greater fool theory, has no intrinsic value, and is just as damaging for the environment. Still though, while I'm not comfortable with the crypto sponsors and etc, at least you're using the money to support the melee community and not entirely pocketing it (though I'm sure there's some of that too).
I feel like the problem a lot of people have around the digital asset space is the dishonesty. Its not a get rich quick scheme, it's an asset game. Similar to physical currency and physical art. No one acts like buying famous paintings isn't just for people that have money, but NFTs are sold differently. As long as you're honest with your audience Lud I think that's all that matters to most people
i really appreciate ludwig talking about this. the coinbase sponsorship had always made me a little uncomfortable and i'm glad he's doing self reflection
Hey Lud, fully agree with what you said but with one caveat - we are all talking about useless profile pic (PFP) / art NFTs. I think NFT's are an incremental technology to make existing things just ever-so-slightly better. E.g., game items can be NFTs so you can trade them for real money (at least, within the same game), tickets can become NFTs so you can keep them as a memory, access to an online community such as discord or a metaverse apartment can require an NFT as a 'key card'. But it is clear that the useless art/PFP NFTs have taken over mainstream media and all the hype because of how ridiculous it is.
As long as your honest and make the risk and repercussions of crypto clear while advertising it I think its fine. If the company doesn't want you to make the risk or repercussions clear then I think thats a sign to stop working with them
@@PuzzleBox83 nah because advertising an app to trade crypto because they pay you is different than actually advertising nfts which you're just trying to get rid of before the value drops out. Ideally you should do neither but I get that things like the podcast and shows he puts on himself need sponsors to make them viable. Although I might just feel this way because I'd personally never get into that shit
relatable, but if you feel like somethings wrong its up to you to make that call on whether you want to continue doing it you don't NEED to be sponsored by coin base or have those boxes, but it has some value.
Promoting cornbase isn’t just an ad for cornbase. It’s also an ad for crypto in general. It just builds more hype for cryto and in doing so will not help fix the issues we have rn.
I respect you a lot as a creator, but yeah, crypto in general is cringe. I understand you keeping up with coinbase if you require it for future projects, but it would be nice to see a separation. Glad to see this transparency with the audience as well.
I havent researched the topic of nfts. My brother is very much into the whole digital assest thing and talked all christmas about it ( he studied economics and is pretty whealthy) .Asides from that watched a video from Johnny Harris about it which i can totally recommend. Its well researched, written and it portraits a more generall and objectiv view about the topic. Ill also watch the video ludwig recommended but im pretty sure that ill never be able to create a real opinion since at the end of the day i dont really give an F.
Yes, I honestly think that promoting things like Coinbase is a part of the problem. Crypto has no value, because they are basically a bunch of answers to complex math questions on a computer, and as they are literally numbers with no use or reason, they are a part of the problem. However at the same time, I also know that partnering with companies is the best way to turn a profit on youtube, and I fully respect that.
You're not actively trying to scam your viewerbase, having a sponsor is fine, if you suddenly created a "mogul moves" ape and tried to sell it, you'd be just as bad, but I believe you have more self respect than that.
That Matt Damon commercial is pretty ironic considering the proverb “fortune favors the brave” was supposedly said by Pliny the Elder to his fearful men just before he died from asphyxiation during the eruption of Mt. Vesuvius.
I feel like you misunderstand the dynamics of what's happening. Jimmy Fallon didn't buy an NFT and show it off because he thinks it's cool. He doesn't know wtf an NFT is. He bought it and showed it off because BAYC needs celebrity endorsement. It's essentially sponsored content.
"no shot" to what specifically? use words like a real human being We all saw the same clip of hilton and fallon promoting their bored apes. Hilton is very into NFT's and Fallon clearly does not care at all. The Fallon episode ends with Hilton releasing her own line of NFT's. Hilton has a personal interest in normalizing and lending credence to NFTs because she plans on selling NFT's of her own. The show was essentially a sponsored broadcast in terms of the plan and effect. Whether Fallon was paid or not makes no difference to the outcome, it just means he's a moron instead of a swindler.
@@DudeWithTheNose English please, no shot you believe this was a sponsor, they didn't promote anything. Showing off something isnt promotion. No brand or artist was named at all
4:25 - 4:35 That guys face just speaks about Standing in the warm and soothing rain, Droplets falling gently down on the terrain. Of washing away the anger, all the stains of time. And from those eyes it is clear that there is no memory and it's only dry inside.
Yes, you’re a part of the problem! But you can change. Don’t be the reason normal everyday people lose their savings, even if it isn’t directly your fault.
Hey Zach I didn’t want to comment on Luds other comment thread/other vid since it had other comments.(which I believe means notifications for others!?) but for both vids/ ideals, I agree and was wondering if you’d be willing to talk and give some mutual advice/general conversation
The only thing I can really think of that’s somewhat safe ish, is sending and unlisted vid link to talk but if you got anything better lmk because I genuinely wanna have a good convo
I feel like you’re pretty on the level about what it is and not trying to scam anyone or make money off people who are struggling so, I’d say take that coin base money and keep up the content.
@@iconic3606 yeah, but as a whole it seems like there’s a news story every week leaking hundreds of horrible things some celebrity has done. Many celebrities are good, but most, like people, are assholes.
I know you said that people overstate how nfts are good for artists, but I think giving royalties to artists and letting them create what they want to sell for crypto is a cool idea. I find some of the nft projects that are 3d animations or 2d animation with actual effort really cool, that aren't rugpull scams. But I have also seen the opposite, where artist get their art stolen off instagram and put into nfts and shit. There are so many scummy people in the nft community that ruin it, but it could be a cool idea.
I respect you Lud, but you pushing your crypto sponsor is just the other side of the NFT coin. You're free $10 of bitcoin is specifically made to get people into the ecosystem so that they will put more cash in for things like NFTs. A lot of viewers are going to use you as a gateway to get into the crypto market and then lose a lot of money. I'm glad you at least acknowledged that you're partially culpable, but it's hard for me to take anything you say on this subject seriously from your position. You're also a rich person who doesn't need crypto to survive but is leveraging it anyway because it'll help you be even more rich. Self awareness is nice but at the end of the day it's basically just lampshading the same thing that Jimmy Fallon is doing on his show. As someone who found you first through Smash, I have to say that Smash's growing reliance on crypto for funding is something that's making me uncomfortable and hesitant about supporting tournaments. I hope that changes. I hope you can find a more ethical sponsor that's still willing to back you and your content too.
I’m not sure this is a very fair assessment. Larger crypto currency’s (Bitcoin and ethereum) are becoming much more legitimate and proper forms of currency which provides them with a greater deal of security regarding price. That said smaller crypto currency I most certainly see the risk in but at the end of the day it’s very similar from an investment standpoint as comparing investment in a low risk index fund/ large market cap dividend stock to dumping all your money into a startup company with no real products or prospects at the end of the day it comes down to smart investing and a smart investor will recognize the inherent risk involved with smaller crypto projects. Since the coin base deal is relating to Bitcoin I personally don’t see an issue with it as I said if you have any knowledge and common sense you would stick to larger “safer” crypto’s with greater prospect for slow return over time. This is of course just an opinion.
@@brodybovair4535 Not looking for a whole debate, but your point about them becoming more legit currency is undermined by the rest of your post about seeing it as an investment. Real digital currency isn't just treated as an investment, it has a realworld utility that people can easily access - Bitcoin isn't there yet. Not even close, really, outside of a couple particular circumstances. It's slow, unreliable, costly, public, and insecure (and also has environmental downsides just like NFTs to boot). Bitcoin also isn't as consistent or trustworthy as most stocks either - there's not enough evidence it's a good long term investment at this point, specifically *because* it is lacking proven intrinsic value. I'm not really interested in drawing a distinction between NFTs and cryptocurrencies for the purpose of this discussion. Bitcoin may have theoretical future potential more than NFTs do, but today, right now, they're essentially the same product with the same purpose. Bitcoin is probably a better investment than other crypto stuff, but it's still a gamble and bad thing to be promoting, imo. It's like a company coming in and paying to advertise its own stock (not their product, just their stock) so that people buy in and pump the value up. You might make out decently from it all, but somebody will inevitably be left holding the bag if that value was never based in anything real, and then what? What's Ludwig's role in promoting that "opportunity" to them? It's not a great look.
@@brainfreeze10 The problem is, is that it will never be there. Crypto is missing something very important to make itself the new currency and that is it's value coming from something outside of itself. The reason any currency (the Euro, the dollar) has any value is because the country producing it has value. Crypto's only value is itself. People give the Dollar value, because America has value. It has assets both tangible and intangible. The better the country does, the more the dollar is worse. The worse the country does the less it is worth.
@@PuzzleBox83 Yeah, I would mostly agree with that. I think, theoretically speaking, crypto could provide certain utility that would make it's inherent value actually be based in something (itself, which is confusing but I guess possible in an academic sense). However, part of what makes currency work as currency is that its value it relatively stable and predictable, so the second crypto hits a point where it could have inherent value "backing it" it will also need to find a way to stop people from buying it as an investment to make profit off of people who want to actually use it as intended - so it's a major catch 22. Also, I think that theoretical utility is unlikely to ever come to pass without major changes to the technology and laws around it which would make all the current coins obsolete. Also, the laws would inherently remove most if not all of the qualities that could make crypto actually useful over a standard currency. So it's another catch-22. Which is all to say that digital currencies are super weird and I agree that Bitcoin will never properly function as a real currency but even if it could find a way to work as a new type of currency in the future I don't really care to get into that debate with the cryptobros in the comments who still believe in it because the simple truth is that right now it's not a currency anyway and that's all that really matters when comparing it to NFTs and Lud's promotion. So I just cede the ground that it could have theoretical value so we can move on.
There's pockets in the NFT space where it just exists to make money. Developers will profit off of primary sales from buyers minting the NFTs and secondary sales as well. However, there are other pockets where owning a particular NFT supports a good cause (like Kumo x World, where a percentage of proceeds go to supporting children's and mental health charities) or grants access to physical goods (like Adidas Originals into the Metaverse)
you can literally tell how quickly Jimmy Fallon wants the segment to end and how he is entirely just reading off of a teleprompter. Even Jimmy goddamn Fallon is above NFTs.
Hearing Paris Hilton and Jimmy Fallon explain their NFTs was like hearing a teenager explain their first tattoo to their parents lmao
"and this japanese text means 'otter' because I love otters I mean I have otter posters all over my wall and half of my shirts have otters on them, and the spider is because I like spiders. I don't know what the rose is for though"
Actually true
Was he reading his script from a prompter? I don’t know his show so maybe him not looking at either Paris or the cameras was something normal
This is gold 🤣🤣🤣
@@jadenanjara 100%
Kinda interesting to see Lud reflect on himself, when talking about a topic.
0 comments
I appreciate Ludwig acknowledging that crypto and specifically promoting coinbase could have problems
@@oberyn5474 Defending scammers?....nice
@@mk3621 ur big silly
@@oberyn5474 A stock is a digital representation of something that is REAL. If I invest in Apple, it is me investing in a company that produces something and the VALUE of that company that it has due to what it produces/does. Crypto is nothing like a stock in the sense that the only value it has is by how much people decide to give it. It has no value outside of the digital world. It does nothing for us as people. I see no difference between that and a NFT.
Ludwig literally partnered with Coinbase awhile ago and had his own code for joining though 😂
@@teelafire5468 yea, it's weird people really don't realize how psychopathic they sound.
Unfiltered opinion: The reason Jimmy Fallon and Paris flaunted their purchase is to bring more attractions to these NFT so theirs can go up in value. Essentially. These two decided to make this extremely weird unnatural segment to get a nice little increase on their investment.
That being said, when you buy pokemon cards and do the unboxing you do them for the entertainment you’re not showing off thinking « damn if these viewers all buy Pokemon cards mine will be worth more » because thats just not how it works. If you do something cringe we’ll tell you no doubt
Pokemon Cards are collector items. Every collector item is overpriced because it's a race for who gets the better collection. But NFT's are claiming to benefit artists when they are stealing from artists.
@@nourmuhsen how are they stealing from artists? I watched an unknown artist i follow called rhett/mankind make $600,000 in 10 minutes. Now he's living good
That's true. Allot of youtubers and streamers did pack openings, knowing that the prices would go up the more they did it. Even if they don't admit it, it's pretty obvious it would happen, and it did. People made allot of money
they definitely did increase in value because of the wave of youtubers unboxing. that said, does lud even do that anymore?
@Adam W, there is a lot of people taking the work from some artists and selling them as their own as there is literally no control in the sell of nfts. Also how would it Benedict a RUclipsr if the prices of Pokémon packs go up? That makes no sense because they don’t distribute them.
Underrated channel. I love the vibes of Lud just talking to us.
wtf i watch ur channel and u be commenting here
ayo diddy what's your take on the balloon rework?
@@YourRegularRadish men
its like the old ludwig :(
@@YourRegularRadish clash royale is trash
ice is actually wild for outright saying “i’m gonna protect myself & actually not give that money back”
Treat yoself to 500k
the honesty is almost admirable
@@chaunceyloveshack9530 The fact that he actually gave SOME back just made it worse. Had he stuck to what he said about caring for himself then it would have been more admirable.
The guy gives 0 fucks lol
Frankly, I was in the same boat, I don't like nfts but wasn't quite sure why and this answers it. It's just another way to make rich people more money and have poor people waste their savings to try to fit in and join the hype as well as try to grasp at straws for status. It's ironic because most people who buy nfts would probably not be able to get rid of it as quickly as they would like for profit.
You should watch the vid he recommended in the video as it goes deeper into all this.
@@devthegoogleuser6198 I'm actually trying to find it as we speak 👍🏼
@@Papa_GK Nice!
…. Also they’re fucking awful for the environment and countries have had to ban them because of the repercussions…
I'm pretty heavy into crypto and even I don't really get NFT's. I mean I can see their utility in the future for things like games where you loot some piece of gear an can actually sell it for some token that you can cash out instead of having some "gold" in a game (like World of Warcraft). Or something like hearthstone where you actually own the cards and can trade/sell them and make some money outside of the in game currency but this whole selling a random picture of something makes no sense to me.
This is something I notice a lot. People will shit on nfts for being bad for the environment but then be pro crypto. One of main reason nfts are bad for the environment is that they are purchased with crypto. It's good to see you reflecting on being sponsored by coinbase.
I love Mogul Mail, it’s so consistent, there’s always interesting content, it’s so great to watch
Honestly, I love it
just like the yardddd except it’s a lot more lighthearted and chill then mogul mail, really love both though
You sound like a fake Amazon review
@@swgz600 yeah sounds like a paid bot response.
But it kinda sucks that lud is straight up copying Charlie's drama vids
Lost it at the audience clapping at random Ape photo. jfc
Wait a minute, picture fit watches Ludwig?!?
@@lateknight8625 no
That Jimmy Kimmel clip was so damn painful to watch through. How can something be so cringy it physically hurts?
i like to think that the crew was behind the camera pushing the “applause” button rapidly in order to que the audience reaction
I just imagine that none of the audience actually clapped and it was just a sound put in post production
I do think partnering with and promoting crypto/crypto companies like coinbase is being part of the problem. The “line goes up video” you mentioned does explain why crypto itself is a problem and not just NFTs. However I do believe that you had no ill intent and do just want to do cool things for your viewers and the community. Really cool to see someone self reflect deeply and ask for their community’s thoughts, so huge props for that for real
Accepting sponsorships of any kind is being part of some problem (e.g. the very process of informing people is, technically, environmentally harmful). The line of moral acceptability is convoluted with shifting boarders.
@@SanguineMalcontent what happens if the product thats getting sponsor is actually good though?
For determining if you are part of the problem, two questions come to mind: How are you using your money (especially money from potentially exploitative sponsors), and how are you using your platform? I have a positive impression of you in both aspects. I think you use your profits to create higher quality content and to shift some of that money from corporate hands to charities and grassroots communities. And videos like this show me that you use your platform with some responsibility, to be transparent and informative and not shy away from criticizing the hand that feeds you when it's deserved. I think those make you a good example.
And at the same time I know my impressions are only based on an image of yourself that you control. I don't know the nitty gritty of your actions behind the scenes, and how that might change the answers to those two questions. I just like what I see, and I hope it's because your values align with the good of the people and that it will keep you on a good path.
This is exactly what the project im working on does The Canopy Club coming soon! We are partnering with Non Profits around the country! NFT can be used for good also all of our servers and any infastructure will be solar powered as we have a solar company partner! Coming down the pipeline! i love your synopsis of NFTs need to be used for good and i think they should be!
Well said
I wouldn't say that he shift money from the corporate hands as you say, they probably make more money because of him and he gets a portion of that, so its still a net positive for the corporate hands
I can destroy this in three words. Amazon owns twitch
Mmmhh "especially money from potentially exploitative sponsors"... enough with the pretense, enough of the way of viewing things from a single point of view, enough with the hypocrisy of "I laud you for what you do until you do something I don't like".
There's a big difference between doing transparent paid sponsorship and shilling for a company without disclosure. The fact that you publicly question whether coinbase is a problem or not is a good indicator that you are on the correct side of the line.
"So you invaded Poland?"
"Yes."
"So do you want to give it back?"
"I mean, I could do that, but I want to look out for myself, so no, I am not gonna do that."
Yoy could say that for the Indians
I like the idea that nft's could potentially support artists, but what it seems like nft's are actually is just buying the receipt for someone elses groceries
Good comment
Not really. It's the same as if you have a banksy print. It's worthless. What makes art worth it, is the artist, scarcity, popularity and verified documentation. Nfts hit those catagories
@@Silverwidows No, because you don't have the print. That is the whole point. You don't even understand what you're stanning lmao Verified documentation? Popularity? Anyone can create fake wallets and scam people by selling an NFT to themselves a bunch of times. It's pure speculation, nothing more. Also I pity you for not having any idea of what art is about
I don't see how an easily replicable image have any value, NFTs is supposed to be about ownership but people are just using it for jpg.
NFTs could make sense in tickets for a concert where the ownership actually means something.
@@neociber24 there are projects that do things like this and have real life utilities. those will be the winners in the long run….that’s my opinion
Coinbase is facing a class action lawsuit right now for hiding fees
That Paris and Jimmy interaction was physically painful
Respect to Ludwig for being introspective and honest, both with us and himself.
I like how mogul mail is just a delayed Charlie
The coinbase ads you run for The Yard and LACS did cross my mind while I watched the Folding Ideas video. I don't think you're doing anything wrong but I do think you should hold some responsibility for what you choose to advertise. Mostly because some portion of your viewers are children.
Either way I appreciate this kind of earnest attempt to start a discussion and I think you're one of the best streamers around. Not only because you support melee but also because you're very entertaining
Crypto, Dollars, Art, NFTs - it's all intrinsically worthless. They all just have a value because we assign that artificial value. The thing that bothers me about NFTs is how they're purely speculative, and people pretend that "bored apes" or "crypto punks" are beautiful works of art. I doubt that anyone has ever cared for the art. It's all just speculation and a grift. That's what bothers me... and I work in crypto.
I'm a software engineer who programs smart contracts for token/NFT people and I've been up close for a while now. it's all just pure marketing and hype. Heccin disgusting. But the programming is fun and man's gotta eat :'D
The American dollar keeps you out of jail. I'd call that intrinsic value. But, u right
@@Whatsthevibe69 that's not intrinsic value. That's a societal value placed on a representative medium, which we collectively call the American Dollar, Canadian Dollar, etc etc. Physical money is similar to crypto, NFTs, etc. In that It's only worth something because a certain number of people hold value to it - although the scale of how many people is incomparable between those. A huge difference is the governing bodies that regulate the standard currencies vs the new online currencies (crypto and NFTs namely).
Money on the whole is just a place holder we use to exchange for goods and services. Alone, without the socioeconomic structure behind it, money is paper, metal, digital numbers on a screen, or whatever other material used to make it with no inherent value but an agreed upon representative value.
@@RGoots The Dollar's value doesn't come from just what we decide on. It is a physical representation of how well America is doing economically. It is closer to a Stock. It represents a physical asset. The country producing the currency. What does Crypto represent value wise? Nothing. It's only value it represents is itself which we give it.
The difference between Crypto and the Dollar is that the Dollar has value due to the country producing it has value. Much like a stock has value due to the company that you buy the stock from has value. The only value Crypto has is what we give it. Nothing more or less. It isn't a representation of anything tangible. Unlike the US economy which has MANY tangible assets which give it's dollar value.
@@PuzzleBox83 Shit's all made up buddy, the moment we humans invented money. Companies are made up, and so is their value. Laws are made up. All of it. The fact that all of them are made up doesn't mean that they don't matter.
The dollar doesn't have any more "real" value than any crypto, it's the same thing just jumping through more hoops. Just like stocks too. Companies aren't a "real" entity, they're just codified in our made up laws.
1:53
This part is the perfect embodiment of ‘well yes but actually no’
I think its important to distinguish the difference between an "alternative" currency, and a straight up pump and dump scheme with ugly artwork
The problem is most of those "alternative" currency started out as pump and dump. You can never tell what is a serious alternative currency until a hundred years in the future. That being said I wouldn't trust ANY currency that isn't based of the value of anything other than how much people give it. I see no difference between giving a bitcoin a value and giving a NFT a value.
@@PuzzleBox83 so true.
@@PuzzleBox83 It's definitely become that way recently. But if you look at the current state of the American Dollar, or any other traditional "standardising" currency, resource or asset, I can't see a way to preserve value in places of weak socio-economic status
@@BugsyBoy8 "Recently"? Yeaaaah.
Part of what makes NFTs and crypto very sketchy is that they’re rooted in FOMO and artificial scarcity.
Bitcoin has artificial scarcity? That's a new one
Ever heard of Diamonds lol
@@Silverwidows Wait, why do you think Bitcoin has any value? If it wasn't artificially limited, it would be worthless.
@@Silverwidows ever hear of Bitcoin halving?
@@Niraol We use diamonds to manufacture sh1t
I want "Unsurprisingly," to become a series.
Wouldn't the whole Ice Poseidon scandal be eligible for a lawsuit? Feel like you could definitely sue a business for something like that.
Definitely.
Yes 100% as he admitted it
I mean probably. These Pump and Dump scams are famous in crypto and have been here for years. But usually people don't admit to doing it
Check out attorney Tom's video on the subject he talks about the civil case this can have
Usually not worth the hassle unless people get together for a lawsuit.
if Lud made NFTs they would be 100 different edits of le monke
my current understanding is that NFT's were an existing technology that Gary Vee eventually discovered, he then called up tons of extremely influential (and rich) people to blow them up, creating the biggest scam of the 2020's.
I’m gonna be honest, pushing crypto is just as much of a problem as pushing NFTs in terms of the damage to audiences and the environment, granted pushing coin base and straight up pushing rug pull scams aren’t on the same level in terms of like ethics.
I don’t agree. Cryptocurrency is much more accessible than NFTs are, and follows most of the same rules traditional asset classes do. You can buy one dollar worth of Bitcoin (which has proven its value), but you cannot buy 1 dollar worth of an NFT that has proven its value. The risk is extremely different, where NFTs are only fiscally responsible for already wealthy people to invest in, because they can buy ones that they are pretty sure will go up in value, otherwise, it’s just gambling with worse odds.
Granted, there are a multitude of issues regarding regulation and market failures with crypto, however, they are very different; while crypto is showing growing pains, NFTs are a shrouded form of boosting and maintaining wealth at the expense of naive people.
I agree with Johnny, especially if you don't know what crypto is. i think its ok if u really believe the blockchain is the future of society and bitcoin and other coins will be a real, primary transactional resource, but idk if "advertising cuz they give a shit ton of money" is a valid justification, especially since many of these people who do get coinbase wont know how to use it properly/will lose money.
Pushing mainstream crypto is no different from pushing stocks at this point, its only the meme coins (save the kids, squid game coin, etc etc) which are as bad as nfts
@@alexchang6314 I don't understand how Crypto is any different than NFTs. Crypto reminds me of the doomsday preppers who thought beanie babies will be the currency of the future. Real life currency is based on the value of something. The US Dollar is based off of the US Economy. The worse our economy/the more money we print, the less it is worth. The better our economy which leads to us printing less the more it is worth, but it is all based on something real. Crypto is based on nothing other than how many people buy into it.
@@oberyn5474 Explain how Crypto is the future when there is no regulation of it. Nor can it be regulated. The only value it has is what people magically give it.
i love to see you giving ur opinion on shit Ludwig, i feel like you're the only guy who makes good content, always tries to be as honest as possible with your viewers and has opinions that i most agree with
I love your channel
Nice to see big creators shouting out that video, really good watch
Thanks for bringing up Folding Ideas video on NFTs.
If you haven't seen it yet, don't let the video length put you off. It's one of the best videos I've seen on RUclips and is well worth watching
I often feel weird watching content sponsored by the likes of Coinbase, I do also have that feeling that crypto might also be part of the problem. But overall, at least you keep it real, talk about these stuff and obviously specify that the content is sponsored (not like many celebrities and athletes) so I guess there is a line somewhere for your approach to crypto, but as you say, sometimes its hard to put it into words without being and expert in the subject
you should really watch the folding ideas video, he goes into how crypto is part of the problem in a very easy to understand way imo
@@sofiasaaand8083 yeah i feel its a must watch now
Self awareness doesn't absolve actions.
5 seconds into the video and my favorite streamer calls me a ho-not-haver. I’d call that the biggest scam of all.
That Crypto ad was absolutely fucking insane LMFAO
"Buying crypto is as brave, innovative, and important as climbing Mt. Everest or becoming an astronaut and going to space"
To me crypto is just as bad as NFTs, it always made me uncomfortable seeing those coin base ads. Though I am someone who doesn't do any sort of investing or stocks or anything like that, my money from work all goes into living
“I look into this monke’s eye, and I see myself looking back at me”
Do you guys ever experience a sort of disassociation with yourself as well as reality? Without sounding too hippy, anytime I see a celebrity flaunting their unimaginable wealth I get taken aback and I'm like damn I will never be that wealthy. I wonder what it took for them to win the lottery of life.
Then from there, I think to myself what do I really want from life? If I can't live a lavish life like those who I see on social media every day, how else will I find happiness or self-fulfillment? I'm not saying it's not possible, but it's just a sort of self-evaluation of what I want from life and the answer is usually unclear for me. Especially being a recent college grad.
Honestly, I like to believe the people who do have that much money, typically NEED it to feel fulfilled, and if I ever find myself relying on money or currency for happiness, personally, I've made a mistake. True CAREER satisfaction should be found in giving work to a community or interest that makes you happy, while true self fulfillment is too individual to define as an absolute, I think it can be agreed on that money and fame isn't really on the table for what makes someone valuable to themself at the end of the day. However in a world where money buys experiences and experiences enable the satisfaction of interest, adventure, opportunity, etc. it can be extremely easy to fall into the idea that money does in fact buy happiness.
True happiness (for me at least) comes from things that have no monetary value: spending time w friends/family, giving back to community/volunteering, trying new things, spending time in nature. Once you realize that true happiness doesn’t come from money, life gets a lot better. Signed, a fellow college student
Y'know, I went to the market today woth my roommate. It's a weekly market of our little region in Germany where dairy farmers, fishers, florists and people from different countries like Turkey and Greece sell their goods out in the open. So the weather is great and her and I walk across the market. Everything we want to look at is right in front of us. The sun is shining and people are actually happy and kind (you don't see that too much with our gray weather). I talk to people, I make jokes with my roommate, we drink a coffee on the little town square in a traditional café. I come home with a lot of fresh, green vegetables from my region, fresh from the ground, and think to myself "wonder what's happening online" and find Lud's video. And now I'm sitting here thinking... Wow, how sad is this new world that we have of today. I look at my vegetables, more valuable to me than any NFT, and have to wonder why they make me more content than the whole idea of NFTs. It's because nobody told me I needed them. It's I actually wanted them. When I bought them I was able to hold them in my hands, feel the freshness and the dirt of the ground they were in. It was not even a product to me (because I feel like a product is something in a store on a shelf). It was a ware or maybe a trade item perhaps. The people I bought it from were humans, they laughed, we joked and in that small time we had, we were on the same level on opposite ends of what a business transaction is. We didn't want to scam each other. We were happy that I helped them financially and they helped me to my sunday dinner. Seeing these sad millionaires trying to manipulate me to buy a token for what is not even the rights to a picture of themselves is just so alien now. Why are they trying to manipulate us? Why do they have to be above us? The farmers definitely had more money than me, but they didn't go to a show to identify themselves with their homegrown carrots to sell them to me now did they? I'm glad I'm not a millionaire. What a sad life does it have to be for your values to be so astronomically up your own ass.
Edit: Maybe to answer your question from my perspective... I want to be a human among other humans. I want to feel each other's happiness, even if I may not be a rich man at the end of my life. Fuck, my grandparents weren't and they were more happy than most of the population of the western world of today. I want to have the freedom to sit down on the town square with my roommate and to take a sip of that coffee I so enjoy. To be honest, I just want to be content. I don't have to be a millionaire to be content. Actually, although the opinions differ, I don't think you need a single dime in your pocket to be content with your life.
Check out Jesus
@@Metroyeti17 Thinking the same thing, true happiness no matter what walk of life you are. Doesn’t even matter what you’ve done before, he takes the guilt hindering you from becoming happy.
Is there really no one talking about how Ludwig just flamed all of us in the matter of the first five seconds in the videos
Ice Poseidons pulled a lot of scams in the past, but this one could have real consequences. In the eyes of the law, he gave a full confession no holds barred. As for the people he stole from, Well... You're saying hey I stole your money and I have lots now, sort of gives people the incentive to physically go after you.
As for the coinbase sponsorship, I wouldn't say it's comparable. You're straight up saying hey they gave me money to promote them, And not telling people "Hey you should buy this thing, it's the future and will definitely make you money while flexing on people who don't have it"
Sadly the legal surroundings of crypto is pretty hazy. There’s been a lot of rug pulls or pump and dumps but no legal repercussions. He can always hide behind the similar case of squidcoin which was similar yet prevented buyers from selling their shares except for the owner which didn’t have any legal backlash. He can probably just argue that they had the option to sell but chose not to and get off scot free.
@@bruh1704 none of the coins that are put on coinbase are rug pulls, they have standards and you also have to pay the larger exchanges significant amounts of money to get listed from my understanding.
I love Folding Ideas, he's that introvert guy who miraculously manage to put into words what goes in his head with 95-98% precision.
this is ludwig's marketing monday
NFTs are like trading cards, but there's no physical product. I think if people looked at them like trading cards they would be a lot less cringe. However, people think that they have more value than that and that they actually own the representation. I would never say that I own the rights to Patrick Mahomes's career just because I have his rookie card. But time and time again we have people who don't understand the implications of NFTs like the people who bought the Dune NFT and thought they owned the rights to it, or the Charlie bit my finger and actually took the video down. And then Jimmy Fallon and Paris Hilton acting like they have a connection with their NFTs, even though it's clearly apparent that they don't. It just feels very transparent that most people in NFTs are in it for the money and don't care about anything else regarding NFTs.
I think it’s very good that you are so self-aware and transparent with your audience but then again as Bo Burnham said: being self-aware about doing something you hate doesn’t save you from the act. So at the end of the day, do whatever you think is best
The difference between you and them is self-awareness
Being honest, I do think there isn’t much difference between having coin base as a sponsor, and supporting other crypto projects.
I know you guys are all well-meaning people but I still think it’s not the right choice, and personally I’d prefer if The Yard and other projects were sponsored by something else, as I genuinely want them to succeed.
genuinely why tho? bitcoin is ok eth is ok why would saying “this show is sponsored by coinbase” be an issue? it’s a platform to begin with not a coin, no one is asking you to buy coins nor promoting them it’s just their platform. That been said i think crypto is the future easily.
@@AMMARvx future for what?
At least you’re consistent. Pointing out problems while continuing to endorse them. Parasocial relationships being the other obvious example. I think you’re doing better than the bare minimum and there’s plenty of influencers you couldn’t say that about.
While your views may seem hypocritical, your self-awareness and the level of honesty you maintain is beyond admirable. Controversy breeds hate and anything confusing(crypto/nfts/etc) is bound to bring controversy.
That Matt Damon ad has to be satire there's no way
I see it whenever I go to the movies
After watching some stuff on ice I'm not surprised he did it. It seems like he allowed himself to hold so much animosity for his audience
mogul mail should start streaming he has a nice personality
Ice Poseidon being able to receive peoples money despite his track record over the years proves that people nowadays throw their money at the dumbest things.
Of course they do lol. Why do you think streaming is a viable career, because dumb people send money to millionaires/people with way more money than them
The existence of NFT’s are crazy, man
That folding ideas video does in fact go hard, cool to see you shouting it out
I feel like advertising a service in which you can purchase things is extremely different that advertising what is essentially stock that you have a vested interest in. For instance if you were advertising a specific crypto coin that you had invested in that would be completely different scenario. You are not directly profiting off the well being of others
Honestly if that ad was for almost anything but crypto it would be pretty good. Imagine how hype that shit would be if it was for a game. Hell yeah I would play it lmao
As a former stockbroker, Coinbase and all the other firms are just as (if not more) scummy than this NFT nonsense.
What a bold start to this video
I love this channel, it’s awesome & a has really nice way of interacting with viewers without being too ‘parasocial’ :)
On the topic of nfts, I personally think that being sponsored by companies who support crypto isn’t that great of an idea. They’re only going to benefit off of you, which then leads to more exposure to the ‘crypto world’, I guess. Already, I’ve read articles about people freezing in their homes because of the effect NFTs truly do have on the environment. I’ll admit it, I was wary at first too, but after looking into everything deeper, I got the full picture and don’t like it at all. I’m sure you could easily find other sponsors who’d be happy to work with you! That’s just my take on the whole thing, but you do you! ^_^ (this is a genuine tone btw, i’m not trying to be an asshole😅)
The Line Goes Up video is absolutely incredibly done, and it explains the problems with crypto and NFTs so well
I do think that the coinbase ads are part of the problem, and that it's sort of irresponsible to push it to a young audience such as yours. However I'm glad that you're opening up about that insecurity, and I'll happily wait to see what comes out of this.
luds first 2 sentences had me pause the video and rethink my life
The actual artists and normal people are barely making any profit on buying and selling NFTs it's mostly just the rich getting more rich and a easy cash grab at this point
That sounds like a lot of stuff nowadays. I hate how everything is about money
Crypto is different. Pokemon would be more similar imo if the nfts held some sort of cultural nostalgia to them that have survived the coming of age of an entire generation
imo, i do think that hyping crypto but not nfts is drawing the line a bit below where you are. its probably hard if coinbase is such a good sponsor, but i feel like the folding ideas video does a good job of explaining why the flaws of nfts are linked intrinsically to the flaws of crypto.
Ludwig, English major: I don't know how to put it into words.
I'm glad you're able to be critical of your own practices, it's a good habit to get into. And yeah crypto is a very similar boat to NFTs, honestly I think NFTs being so outlandish and so clearly a scam has taken some heat off of crypto unfortunately. End of the day crypto is also based entirely off of the greater fool theory, has no intrinsic value, and is just as damaging for the environment.
Still though, while I'm not comfortable with the crypto sponsors and etc, at least you're using the money to support the melee community and not entirely pocketing it (though I'm sure there's some of that too).
The way those two talk in that Jimmy Fallon clip feels like I’m watching a high school English class project.
I feel like the problem a lot of people have around the digital asset space is the dishonesty. Its not a get rich quick scheme, it's an asset game. Similar to physical currency and physical art. No one acts like buying famous paintings isn't just for people that have money, but NFTs are sold differently. As long as you're honest with your audience Lud I think that's all that matters to most people
This channel is so vibes i rlly like it, just a homie being a chiller talk bout what he's thinking bout
i really appreciate ludwig talking about this. the coinbase sponsorship had always made me a little uncomfortable and i'm glad he's doing self reflection
Hey Lud, fully agree with what you said but with one caveat - we are all talking about useless profile pic (PFP) / art NFTs.
I think NFT's are an incremental technology to make existing things just ever-so-slightly better. E.g., game items can be NFTs so you can trade them for real money (at least, within the same game), tickets can become NFTs so you can keep them as a memory, access to an online community such as discord or a metaverse apartment can require an NFT as a 'key card'.
But it is clear that the useless art/PFP NFTs have taken over mainstream media and all the hype because of how ridiculous it is.
As long as your honest and make the risk and repercussions of crypto clear while advertising it I think its fine. If the company doesn't want you to make the risk or repercussions clear then I think thats a sign to stop working with them
So is it fine then to sell NFTs as long as you make the risk and repercussions of them clear while advertising them?
@@PuzzleBox83 nah because advertising an app to trade crypto because they pay you is different than actually advertising nfts which you're just trying to get rid of before the value drops out. Ideally you should do neither but I get that things like the podcast and shows he puts on himself need sponsors to make them viable. Although I might just feel this way because I'd personally never get into that shit
relatable, but if you feel like somethings wrong its up to you to make that call on whether you want to continue doing it
you don't NEED to be sponsored by coin base or have those boxes, but it has some value.
I clicked without realizing this was a Ludwig video. I also didn’t expect to get immediately roasted
Promoting cornbase isn’t just an ad for cornbase. It’s also an ad for crypto in general. It just builds more hype for cryto and in doing so will not help fix the issues we have rn.
I was not expecting for Ludwig to talk about videos of Dan Olson. This is amazing and great to show such a great creator.
I respect you a lot as a creator, but yeah, crypto in general is cringe. I understand you keeping up with coinbase if you require it for future projects, but it would be nice to see a separation. Glad to see this transparency with the audience as well.
0:01 Ludwig and the colour red is a perfect example of 2 things not going together.
Acknowledging the problem with crypto is the first step. Hopefully we hear more about this in the future.
NFTs are nothing but the idea of value.
Yes lud you are that guy. Upload more SAP to beg forgiveness
“There’s no way the audience members could afford em”
The guy who discovered right click > save
I havent researched the topic of nfts. My brother is very much into the whole digital assest thing and talked all christmas about it ( he studied economics and is pretty whealthy) .Asides from that watched a video from Johnny Harris about it which i can totally recommend. Its well researched, written and it portraits a more generall and objectiv view about the topic.
Ill also watch the video ludwig recommended but im pretty sure that ill never be able to create a real opinion since at the end of the day i dont really give an F.
Yes, I honestly think that promoting things like Coinbase is a part of the problem. Crypto has no value, because they are basically a bunch of answers to complex math questions on a computer, and as they are literally numbers with no use or reason, they are a part of the problem.
However at the same time, I also know that partnering with companies is the best way to turn a profit on youtube, and I fully respect that.
You're not actively trying to scam your viewerbase, having a sponsor is fine, if you suddenly created a "mogul moves" ape and tried to sell it, you'd be just as bad, but I believe you have more self respect than that.
That Matt Damon commercial is pretty ironic considering the proverb “fortune favors the brave” was supposedly said by Pliny the Elder to his fearful men just before he died from asphyxiation during the eruption of Mt. Vesuvius.
Sponsored content is definitely better than just pushing a picture you bought to people who can’t afford any of it
I feel like you misunderstand the dynamics of what's happening. Jimmy Fallon didn't buy an NFT and show it off because he thinks it's cool. He doesn't know wtf an NFT is. He bought it and showed it off because BAYC needs celebrity endorsement. It's essentially sponsored content.
@@DudeWithTheNose no shot bc he still bought and pushed it where lud just used cornbase because it’s a good sponsor
Your mom likes my NFT @DudeWithTheNose
"no shot" to what specifically? use words like a real human being
We all saw the same clip of hilton and fallon promoting their bored apes. Hilton is very into NFT's and Fallon clearly does not care at all. The Fallon episode ends with Hilton releasing her own line of NFT's.
Hilton has a personal interest in normalizing and lending credence to NFTs because she plans on selling NFT's of her own. The show was essentially a sponsored broadcast in terms of the plan and effect. Whether Fallon was paid or not makes no difference to the outcome, it just means he's a moron instead of a swindler.
@@DudeWithTheNose English please, no shot you believe this was a sponsor, they didn't promote anything. Showing off something isnt promotion. No brand or artist was named at all
4:25 - 4:35
That guys face just speaks about Standing in the warm and soothing rain, Droplets falling gently down on the terrain. Of washing away the anger, all the stains of time. And from those eyes it is clear that there is no memory and it's only dry inside.
Yes, you’re a part of the problem! But you can change. Don’t be the reason normal everyday people lose their savings, even if it isn’t directly your fault.
Hey Zach I didn’t want to comment on Luds other comment thread/other vid since it had other comments.(which I believe means notifications for others!?) but for both vids/ ideals, I agree and was wondering if you’d be willing to talk and give some mutual advice/general conversation
The only thing I can really think of that’s somewhat safe ish, is sending and unlisted vid link to talk but if you got anything better lmk because I genuinely wanna have a good convo
That Jimmy Fallon clip was 100% an advert. Paris had no idea what she was talking about and neither did Jimmy.
I feel like you’re pretty on the level about what it is and not trying to scam anyone or make money off people who are struggling so, I’d say take that coin base money and keep up the content.
*coin base coin
Love the vibe of this channel, nice to hear news or drama from someone with a good head on their shoulders
What???? Celebrities are assholes? Which could have seen this coming??? 😱😱😱😱
There are few celebrities who arent. Such as the rock, shaq and i guess mrbeast. All good people
@@iconic3606 yeah, but as a whole it seems like there’s a news story every week leaking hundreds of horrible things some celebrity has done. Many celebrities are good, but most, like people, are assholes.
@@sparkydoggo8691 unfortunately, i wish people cared about things other than money, yes, some do but most dont and it sucks
@@sparkydoggo8691 and most of the time they are fake but it ruins their reputation as well
The line goes up is one of the best video on the internet 10/10 would recommend! Thanks for the signal boost on that
I know you said that people overstate how nfts are good for artists, but I think giving royalties to artists and letting them create what they want to sell for crypto is a cool idea. I find some of the nft projects that are 3d animations or 2d animation with actual effort really cool, that aren't rugpull scams. But I have also seen the opposite, where artist get their art stolen off instagram and put into nfts and shit. There are so many scummy people in the nft community that ruin it, but it could be a cool idea.
Ludwig's recommendeds and the disney fastpass video, name a better duo
I respect you Lud, but you pushing your crypto sponsor is just the other side of the NFT coin. You're free $10 of bitcoin is specifically made to get people into the ecosystem so that they will put more cash in for things like NFTs. A lot of viewers are going to use you as a gateway to get into the crypto market and then lose a lot of money. I'm glad you at least acknowledged that you're partially culpable, but it's hard for me to take anything you say on this subject seriously from your position. You're also a rich person who doesn't need crypto to survive but is leveraging it anyway because it'll help you be even more rich. Self awareness is nice but at the end of the day it's basically just lampshading the same thing that Jimmy Fallon is doing on his show.
As someone who found you first through Smash, I have to say that Smash's growing reliance on crypto for funding is something that's making me uncomfortable and hesitant about supporting tournaments. I hope that changes. I hope you can find a more ethical sponsor that's still willing to back you and your content too.
I’m not sure this is a very fair assessment. Larger crypto currency’s (Bitcoin and ethereum) are becoming much more legitimate and proper forms of currency which provides them with a greater deal of security regarding price. That said smaller crypto currency I most certainly see the risk in but at the end of the day it’s very similar from an investment standpoint as comparing investment in a low risk index fund/ large market cap dividend stock to dumping all your money into a startup company with no real products or prospects at the end of the day it comes down to smart investing and a smart investor will recognize the inherent risk involved with smaller crypto projects. Since the coin base deal is relating to Bitcoin I personally don’t see an issue with it as I said if you have any knowledge and common sense you would stick to larger “safer” crypto’s with greater prospect for slow return over time. This is of course just an opinion.
@@brodybovair4535 Not looking for a whole debate, but your point about them becoming more legit currency is undermined by the rest of your post about seeing it as an investment. Real digital currency isn't just treated as an investment, it has a realworld utility that people can easily access - Bitcoin isn't there yet. Not even close, really, outside of a couple particular circumstances. It's slow, unreliable, costly, public, and insecure (and also has environmental downsides just like NFTs to boot). Bitcoin also isn't as consistent or trustworthy as most stocks either - there's not enough evidence it's a good long term investment at this point, specifically *because* it is lacking proven intrinsic value.
I'm not really interested in drawing a distinction between NFTs and cryptocurrencies for the purpose of this discussion. Bitcoin may have theoretical future potential more than NFTs do, but today, right now, they're essentially the same product with the same purpose.
Bitcoin is probably a better investment than other crypto stuff, but it's still a gamble and bad thing to be promoting, imo. It's like a company coming in and paying to advertise its own stock (not their product, just their stock) so that people buy in and pump the value up. You might make out decently from it all, but somebody will inevitably be left holding the bag if that value was never based in anything real, and then what? What's Ludwig's role in promoting that "opportunity" to them? It's not a great look.
@@brainfreeze10 The problem is, is that it will never be there. Crypto is missing something very important to make itself the new currency and that is it's value coming from something outside of itself. The reason any currency (the Euro, the dollar) has any value is because the country producing it has value. Crypto's only value is itself. People give the Dollar value, because America has value. It has assets both tangible and intangible. The better the country does, the more the dollar is worse. The worse the country does the less it is worth.
@@PuzzleBox83 Yeah, I would mostly agree with that. I think, theoretically speaking, crypto could provide certain utility that would make it's inherent value actually be based in something (itself, which is confusing but I guess possible in an academic sense). However, part of what makes currency work as currency is that its value it relatively stable and predictable, so the second crypto hits a point where it could have inherent value "backing it" it will also need to find a way to stop people from buying it as an investment to make profit off of people who want to actually use it as intended - so it's a major catch 22.
Also, I think that theoretical utility is unlikely to ever come to pass without major changes to the technology and laws around it which would make all the current coins obsolete. Also, the laws would inherently remove most if not all of the qualities that could make crypto actually useful over a standard currency. So it's another catch-22.
Which is all to say that digital currencies are super weird and I agree that Bitcoin will never properly function as a real currency but even if it could find a way to work as a new type of currency in the future I don't really care to get into that debate with the cryptobros in the comments who still believe in it because the simple truth is that right now it's not a currency anyway and that's all that really matters when comparing it to NFTs and Lud's promotion. So I just cede the ground that it could have theoretical value so we can move on.
This is a braindead take. All you do is say words and self-confirm them
There's pockets in the NFT space where it just exists to make money. Developers will profit off of primary sales from buyers minting the NFTs and secondary sales as well. However, there are other pockets where owning a particular NFT supports a good cause (like Kumo x World, where a percentage of proceeds go to supporting children's and mental health charities) or grants access to physical goods (like Adidas Originals into the Metaverse)
you can literally tell how quickly Jimmy Fallon wants the segment to end and how he is entirely just reading off of a teleprompter. Even Jimmy goddamn Fallon is above NFTs.