Exactly, it shows no ownership at all. It just means you purchased a digital replica to look at or listen too. It literally has no value other than someone else paid that much for it once before. However as an artist and being able to go through companies that mint the art and track the sales giving me a percentage of each sale is fantastic until the hype dies out. All it takes is one piece of your art making it into a rich collecting group where they fight over the rarest of the your minted works.
But realize the hype is generated by these companies minting stuff... The hype never was "rich people" investing like a stock... They invested into it to create the hype... It will be a short lived thing like beanie babies as these companies can only sucker so many people to play the losing game of paying to mint art... Some parts of the market might stand through it because of sports using it like animated ball cards. Beyond that i don't really see much of a reason outside of collecting. Its a question of how many fans a specific nft market can keep, end of story.
As a digital artist one of my biggest concerns about NFTs is art thieves. I wouldn't want people getting tons of money off of art that I spent hours on, and wasn't planning on selling.
the smallest thing you could do to piss them off is to screenshot the nft that "they own", and joke like "guys look i do nft's now lolololol" what would they do? say to delete the screenshot? its originally made by you anyway
1:04 What is a NFT 2:32 Ad break 3:41 Fungible - Replaceable 5:42 Difference between Fungible & Non-Funglible 6:00 Token - Blockchain 9:57 Examples 13:07 The Flip-side to the big fad (as of April 2021) 16:36 Outro
So NFTs don’t really have value for what it is, they only have value for what people give it. Which is why in the months since this video was posted nfts went from stuff like the first tweet to a couple thousand random drawings of a monkey
@@sonnykensenhuis8562 Kind of like that but if you own one of those for example some companies use ownership of one of their nft's as an exclusive membership card into a private group that hosts events with members only. And since some have a minimum purchase requirement of around 200k its pretty inclusive
Yes the value is only what people are willing to pay. I treat it kind of like comic or sports trading. So if it’s a drawing by an artist that I already collect in the tangible world. I find it amazing ( through nostalgia) that I own the first digital print of Spider-Man #1 or my Lebron James moment. I see more video games implementing NFTs into gameplay as well. When I play XBox and purchase a skin or certain weapon this is essentially an NFT . I can see game makers creating many items with rarity involved in the future. Then they will all set up secondary market places where players can buy, sell or trade these items. Imagine a COD market place where you could buy an item that gives you even a slight edge over your competitors… and this is just one example. it’s mind boggling how big NFTs will get. The NFT market is in it infancy stage kind of like Bitcoin in 2016 with implications to dwarf crypto in marketcap size and user adoption. Happy trading… 😊🚀
There are a bunch of Artists I follow who are deeply effected by this. One in particular is against NFTs because of the geoimpact, and some one, or group of persons are taking her art and making NFTs of it against her will. it just brutal. And there doesn't seem to be any way to hold these people accountable because it's so decentralized.
as an artist, that genuinely sounds so annoying and sad. imagine putting your hard work and skills, finally having a piece you're proud of then posting it to your social media account but a random person just steals it and has the potential to PROFITS off of it.
Artists can make a slogan im digital art they make that acts like a watermark showing the person who made it in reality against NFT. Lhotoshop #NFTScheme or something over a tattoo or beard.
I agree with most of that, but I do dislike when people talk about the geo-impacts of blockchains. Why is the focus always on this new technology disrupting things and causing climate change and not on the fossil fuel plants literally polluting out the CO2? As civilization advances, more and more electricity will be consumed, and blockchains are just a part of that new future.
Turns out we all, myself included? Are adult children. The plague of our communication culture is that we try to sound smart and complicated and the result is no one really understands. I make these videos in a way I would want to explain it to me.
this guy is hypocrite! he is using YT which consumes much more energy that this ETH protocol! your NETFLIX bs as well!!!!!!!! go away UNSUBSCRIBED!!!!!!!!!
@@johndonaldson3619 Human nature might be the same, but considering that we still reference tulip mania today suggests that this was a highly unusual event rather than the norm that it would be today
@@michaelc1326 your weak that's why you run. I control my environment so I don't care what happens my circle will survive and make changes as we have. So go run and hide in the trees with the other of the weak people who don't know how to make moves and think they have to make be like society
Thank you for being there LIBERTONCORP when I wanted you to..... I was lost in this new world that I was hassled to start with ....you not only guided me along the way but you also showed me the proper way....whatever little I have been able to achieve in life is because of you today ..... I want to thank you for being there and showing me the proper way of doing thing for me you are my best guide as you truly showed me the way to life....once again , I would like to tell you a heartfelt thanks for being there.
One thing about NFTs that's rarely explained well is that NFT's are essentially a reciept of ownership. In other words, if you buy a jpeg as an NFT, you don't own that jpeg. What you own is a public receipt indicating ownership of the jpeg, and a link to that image. You own metadata. The image itself is NOT hosted on the blockchain. Because of this, while nobody can change the ledger indicating that you own the jpeg, somebody CAN change the image itself, or simply erase it. If the domain that's hosting the link goes offline, or if the owner of the domain changes the image, as the owner of the NFT, there's nothing you can do about it. Blockchain is impressive technology, but NFTs are a scam. Don't buy the hype.
I'm still fairly ignorant on the subject, but one of my issues is this concept of NFT's being infallible proof of ownership or something. There is no such thing.
@@catisreckless4647 well, listen to your hunch that perhaps you are ignorant. This guy is right that NFT's are a scam, but the method and technology for proof that you own "it" are sound, provided the blockchain itself is sound. In order for a transaction to be approved on the blockchain, the entire (or perhaps only a majority of 51%) need to approve it. Even if you manage to defraud one part of the system, the rest of it immediately recognizes the transaction as fraudulent. And when it is a cryptocurrency with hundreds of thousands of miners processing these transactions, you can't simply defraud the majority of them. The system is decentralized, making it impervious to fraud if it has proliferated enough. That said, the current cryptocurrency craze is a lot like the dot com bubble. People hyping up worthless domains as if they'll be the next big thing. Most crypto is that right now. And whatever blockchain your NFT works off of could be one of those trash coins nobody uses or could easily be hacked.
@@catisreckless4647 yep and the biggest irony is, who owns the art piece more? The one that screenshotted the jpeg or the one that bought the url/metadata of hosted on the Blockchain. At least I can look at the picture whenever I want lmao
@@dihanmustakeem4089 As I said, I don't know enough about them to say "Ooo, Bad, BAD!!" But I do know that as far as I'm concerned, they are amazingly pointless. This notion that they'll "change the future" is also pretty questionable. They are merely just another fad for people to latch onto. Monkey see, Monkey do at it's purest form.
@@revolvingworld2676 technically all the canvas used from trees is hurting the environment, but when in comparison to all the power used of NFT’s… yeah you’re right.
They both full of money laundering, but as an artist, I really hate computer generated NFT jpegs. Even Pokémon trading card would make more sense than these NFT
That’s why it’s better to own something physical like gold. They cant make gold magically disappear or change its amount. 1lb of gold will always be 1lb of gold
@@paulshaju2806 Except, gold is a real, physical, finite commodity with tangible utility. It cannot be replicated or mass produced at will, therefore it will always be rare, and since value is associated with rarity, it will always be valuable.
@@ntuthuko3175 it has utility but if you think about it almost every mineral or metal has utility. What I'm trying to say is that gold is definitely rare but why is rare considered valuable? It's because of human perception On the other hand why is food or grain considered valuable it's because it's human need it's a necessity Gold is not a necessity we can live without gold Real necessity is food ,clothing etc And these were a lot more valuable than gold during early ages
Anyone else just feels like Johnny's explainer content is one of the most creative on the platform? I’m always left wondering how he makes the most “mundane” topics seem so fascinating
Everything has value, that's why it was created. Whether or not it has monetary value is another story. Now excuse me while I pirate all of these nfts. brb
yea and this isn't doing great things for the environment. we always want what we don't have. by sticking with what we have already and focusing on meaningful relationships with others, i think we can be happier and live more fulfilling lives as well as helping the environment.
Thank you for your explanation, out of all the videos I've seen this was by far the most clearest. Looks like I'll just be screenshotting the NFTs I like cause ain't no way I'm spending thousands on a JPEG
I think ppl buy them just because they think the value of it will grow more, because it's like a rare thing and therefore they're just hoping to resell it to make money off it.
@@slavicqueen I agree....90% of the NFTs I've seen are ugly as hell though, no clue how they sell for so many thousands and mlllions of dollars. Like the pixelated portraits of cartoon illustrations "crypto punk" or whatever
@@cxrlitosway lol exactly, all of them are just so ugly and stupid I literally don't understand the hype that's been created. What if you never get your money from it? And now that's what your millions are put into. Some stupid pixilated image on computer. 🤦♀️ pffft I'd rather buy land with that much money
I wish you brought up how nft's created a boom in art theft where people were selling things they didn't own and didn't make, like how many artists have found their work being sold on nft websites without their permission, or even their knowledge and receiving 0% of the money from the sales
The thing I don't get though, is they don't have a physical copy of it. It's like if I posted a photo on facebook, and someone tried to sell it. Well, on Facebook it's a super low, shitty resolution, whereas the original in my computer is 40MB of raw detail, that the buyer nor the seller have.
To me, the main difference between NFTs and other non fungible things is an NFT have no real added value. You can look Mona Lisa on the internet. It's fungible, therefore it has very little value (in this case, none). Or you can pay a ticket to go see it an experience the real thing. Added value = more expensive. Or you coud buy it (if it was for sale), and then you could experience it every day. More added value = way more expensive. It's a pretty basic economic principle that people buying NFTs are forgetting. If it's more expensive, it's because it has more value. Sure, for a lot of things, it's 1) subjective and 2) there is a part of perceived value. But only a part. There is some real added value to possessing or experiencing the thing. Possessing Nyan Cat's NFT brings no more value than just watching it on the internet for free. That being said, people do whatever they want with their money. To me it's just foolish but hey 🤷♂️
People don't buy valuable things like the Monalisa to experience it everyday. Even if they did, they'd have to spend more to secure it and make sure it's not stolen or damaged. They buy it for perceived value. NFTs have value because it's secure and verified. You can own an item for it's perceived value and not worry about someone stealing it. The part I'm unsure about is, these memes are floating. You don't know if people will care about Nyan cat in 20 years. Monalisa held value for 100s of years, we don't know what people will care about in 20 years.
@@vibez2806 Not much difference in terms of experiencing art. But you buy it for 100M and sell it 120M in a few years, show off to your friends while you have it.
Determination is highly needed in stocks trading. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time, we all need make moves now #VCORPINVEST
@@philsbootleg There's nothing that makes it authentic expect for your own perspective. No one cares if you own a shitty picture, especially when you're harming the environment by doing so.
@@imbrakingthrough2152 [Verse 4: Dwayne Johnson & Tech N9ne] It's about drive, it's about power, we stay hungry, we devour Put in the work, put in the hours and take what's ours Black and Samoan in my veins, my culture bangin' with Strange I change the game so what's my motherfuckin' name? (Rock) What they gonna get though? Desecration, defamation, if you wanna bring it to the masses Face to face now we escalatin' when I have to put boots to asses Mean on ya like a dream when I'm rumblin' You're gonna scream, "Mama" So bring drama to the king Brahma (Then what?) Comin' at ya' with extreme mana (Ahoo, ahoo, ahoo)
I'm GREER from VUCODIGITAL INC. We are NFT developers and we mint our own NFT's through OpenSea. We have NFT arts of rare kinds ON SALE! You may check our collections by clicking any link below. VUCO NFT COLLECTIONS opensea.io/Ronnie7777 opensea.io/collection/musclefoods opensea.io/collection/shades-of-chameleon opensea.io/collection/vucoworldland We are also building a new virtual world called VUCO WORLD. Register, Create your own Avatar, and Play fun games FOR FREE on our website below. vucoworld.com/ Trade without compromising performance and security. Create your blockchain identity at vucocash.com/ Catch us on our official Social Media accounts. TIKTOK vt.tiktok.com/ZSePVe5Pu/ TWITTER twitter.com/RonnieF99195917 PINTEREST www.pinterest.ph/VucoNFT2022/_saved/ RUclips ruclips.net/channel/UCfCbZ7ENcKt_IlgFpzCGTUQ FACEBOOK facebook.com/profile.php?id=10007616895046 DISCORD discord.gg/GH4ecpP5W8
I outbid @@thomasduffyjr by ฿1! 😉 (That's 3 US cents. I don't know why Johnny used the baht symbol to represent Bitcoin. I hope that's not what the cryptonutters are doing.)
This guy explains complex concepts so simply that you are ready to write an essay on the topic after watching a 15-20 minutes video. Johnny is my favorite teacher ❤️
Dude...fantastic job explaining NFTs. I'll be honest, I've read some, watched a lot of videos and still never really grasped it. You made it very clear and very understandable. Oh and the production was fantastic. Well done!
I use the service of a senior trade analyst Sir Benjamin H. Ravies as my fiduciary and I have been making profits minting and selling NFTs, if you don't know how to start then just seek professional help. Made £ 4000 this week
If you venture into NFTs because of the hype, it's not going to be good, it is very important to follow a plan, and using the correct techniques could be very beneficial also have a Financial broker like Cintra V. Bedassie who guided me through the rough market and my wallet has increased to 7x of the total money invested.>
Meh, I wouldn't go that far. He's style works for many people and for others like me it's a bit too "stretched out". I feel he can easily condense this into 5 minutes and still keep his style and format.
I finally understood what NFTs are, and where the environmental impact argument comes from. Now I see why it's a serious problem. Thank you for the good explanation.
lol I mean he didn't give much info on it except a simple "they use power so global warming" explanation. You should probably go look up things like Earth cycles and climate cycles before jumping to the conclusion that Humans are creating an issue lol.
i can make a nft that says WHATEVER I WANT. it isn't even possible to imagine a world where nfts mean ownership, because you would have to validate every nft's minter, which you need a central database for.
I had a teacher who taught a lot like this in high school and I got as excited to go to his history classes every day as I do when Johnny releases a new video. It really is effective.
Except this video didn't teach anything and just threw around some buzzwords. I still don't know what the T in NFT means, which is the whole reason I clicked on this video.
Getting a way to make income without having to leave home isn’t exactly as easy as you all think it is , talk is cheap and it’s sure easier said than done , I have my source , and I would rather stick to that, it pays well, even my stepdad quickly #VCORPINVEST
He always manages to scratch that particular itch in your brain that you didn't know existed. Half an hour later you find yourself down the rabbit hole.
Its good that people are so aware of the environmental impacts of NFT's/Crypto. Prices literally fluctuate depending on how healthy the crypto is for the environment.
That fact you believe humans can affect the Earths climate is so laughable, methane gasses has been releaded for MILLIENIA and the earth always makes it thru. Climate change is just another scam the Marxists use to get you to give up your rights and more power to them.
@@Gh0zT-777 the changes we are seeing today are too sudden and rapid to be attributed to orbital changes. ocean temperatures and CO2 levels have simply increased way faster then ever before in Earth's history. scientists know this because the CO2 molecules released by human activities are literally different from the CO2 molecules released naturally by plants and animals. using carbon dating, they are unable to identify any other period in the Earth's history that has warmed this fast without the presence of human-caused greenhouse gasses
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works #VCORPINVEST
@@kalma8216 Because they have added value. If there's a group of people that believes in the value of something, then that item must be valuable (that's the theory). That's why "the mona lisa" has its value: it's just a painting, but we recognize its value because "it's one of a kind" and it's been sold for a lot of money. Well, nft happen to be in the same spot. They are something new, a new way to sell digital art, so people grab some nft and sell them so expensive because "it's one of a kind" and because of hype.
@@kalma8216 they generally don't cost this much. Of course, if you are not in this business/not interested in these things, you will hear about cryptopunks and bored apes selling for hundreds of thousands of dollars, but really, most of the goods sold as « NFT's » have just as normal prices as the « real world things »
Bruh, send this to your crazy blockchain obsessed friend to show them you appreciate them. "I want a human that looks at me like anonymous millionaires look at NFTs"
Previously, a relationship was real if it said so on your facebook profile. In the future, it'll only be real if both you and your partner say so on the blockchain.
What is great is that if we are having food insecurities issues then it would be more economical from both a monetary and resource standpoint to just use a bartering system or go back to our current local currencies. The resource and energy overhead for NFT's is only culturally viable because we don't care about burning readily accessible fossil fuels.
I’m still confused about the implications of NFTs on intellectual property rights. As I understand it, the purchaser does not own the underlying asset, right? The copyright is not transferred. So does this mean that the buyer of Jack Dorsey’s NFT can’t put the tweet on a T-shirt and sell it without Jack’s permission? I feel like this part of the equation is never thoroughly explained, either in the media or elsewhere
You're right, copyright is not transfered (unless the original author of the asset transmits rights to the owner of the NFT). In general, people can only claim ownership of the NFT itself, not the asset. People still give value to it because they can prove the provenance of the NFT. Consider it as being able to prove that famous basketball player xy signed your basketball, I guess.
Think of it like the black market. There is no intellectual property because there are no laws and regulations yet. It's just a big ledger of people agreeing about who sold what to who
Wow. I've been looking for someone to explain this in a way that makes sense without trying to sound smart by throwing a bunch of lingo and terminology out there. Bravo! I honestly understand the NFT, blockchain, and crypto world a lot better after this.
It's literally the opposite, it proves that poor people can finally create value from nothin and aren't limited by what rich people deem expensive, for the first time an aspiring artist can create something and sell it on the Internet without having to sell a kidney to have it auctioned off at Sotheby's! This is liberation from the capitalist machine that has placed value on paper and disconnected the world from gold which in itself is an NFT ! Think about that for a second!
I think another point worth mentioning is the impact NFTs are already having on independent artists. People can anonymously tokenize artwork that simply does not belong to them, and sell the "ownership" to someone else, often making far more money than the original artist could've ever charged for the artwork, effectively stealing their intellectual property with no repercussions.
This same issue occurs on any media posted to the internet though. It isn't strictly an NFT issue. It is a media issue. How many people use a jpg of a copyrighted image or screenshot from a movie as their google account icon, for example?
@@anthrosaurian the issue with that example is that no one is selling those jpegs meaning the artist doesn't lose anything, however in the example that the og comment provided the artist is losing out on a whole bunch of money tht is now going to someone who didn't put any work into the art at all.
Hi there. Can i buy your comment for 9$? This is a historical moment and in the year 3000 people will look back at this moment and it will be worth $1 million. Nah im just kidding, i don't actually want it. You have a good day 😂
Hi guys. I'd like to get ahead of it all here and just buy this whole comment thread for 1000 crypto-monies? If you two are willing to shell out money for it then that's all I need to know. Value baby! And no, this has nothing to do with money laundering. Why would you even ask that?
Art is SO MUCH MORE then just a number of people deciding that something is valuable. No one "decided" that Mozart, Miles Davis or Beatles were great -- rather there music SPOKE to people and their genius radiated through their work. Similarly, no one DECIDED that da Vinci, Monet and Picasso were great -- rather their art SPOKE to people and their genius radiated through their work. I remember years ago walking through a museum in Italy. It had all sorts of artists that I had never heard of as well as some famous ones. Lots and lots of paintings. I decided after a while that I was only going to look at the artist's name of a work if it spoke to me. I walked past dozens of paintings and finally found one that really struck me. I took a look at the name -- it was painted by a certain Leonardo da Vinci.
difference between an nft and the mona lisa is: 1. the mona lisa doesnt have randomly chosen parts 2. the mona lisa is a physical item 3. the mona lisa is *actually* one-of-a-kind
Same with his non fungible jacket. It's literally replaceable. Means less to everyone else than it does to him. It's why there is so much confusion about NFTs, no one understands it as it's just idiots with too much money swapping it between themselves
Mona Lisa does have randomly chosen parts. The oil and canvas aren’t specifically chosen. NFT’s are only not physical, but so are photos these days. You’re telling me you don’t value your digital collection of memories?
Cryptopunks NFT sold for millions of dollars, some people where lucky to get it early for free and later sold it for millions, you too can get access to some exclusive cryptopunks NFT by getting the right information.
the "basics" are.. this is a money laundering scheme. made to transfer wealth from person to person, from country to country. it is also a money syphoning con, designed to part money from fools who dont understand that. and think that like Jack Dorsey, they also can "make huge profits" from "investing" in it. it is also a ponzi scheme.. where the growth in value is coming from more and more fools pumping money into the system. and the moment the flow stops, it WILL collapse. just like Bitcoin.
@@arjundhaliwal8853 i dont know what bitcoin will do.. i just know its a con. it is ABSOLUTELY worthless and just an IMAGINARY, virtual computer image, even if it hits $100k per pixel, because fools keep pumping money into it. but once everyone realize this, it might collapse to zero that it deserves.
@@adamfirst3772 kk u can keep thinking that I’m not a Bitcoin or crypto expert. But u clearly don’t know anything about it and while ur so skeptic there’s going to be millions of others making profits while ur sitting at home typing in RUclips comments about how bad it is😂 pls don’t say random ass shit with no proof or knowledge to back it up that’s just ur random ass opinion based off nothing
I watched so many videos on RUclips in order to understand NFT; but you are the only one who could make me understand this very clearly. Thank You Johnny!
The editing is out of this world! Absolutely amazing! I watch a lot of RUclips and I have never seen such unique, refreshing, and satisfying editing...at least not from a non-major-Studio.
Successful people don't become that way overnight .most people you see as a glance-wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life #VCORPINVEST
Thanks dude I knew something fishy was going on with these NFT Craze. I can actually see the flaws that this can be used as a way to do illegal things and without a human being trying to do a check in balance on this giant ledger my fear is that this NFT craze would lead to another financial crisis.
This started as an NFT video, then went down the rabbit hole of the ultimate purpose/direction of humans. Once our needs are met, we seem to create imaginary value at the expense of real value. We create psychological excitement at the expense of the planet.
Money and riches are temporary, learned skills are permanent. One day your tweet is worth millions and next day the market crash and its worth nothing. But your skills, if valuable enough, will always retain their value.
It’s not always true. Let’s say that you know how to drive a truck. Right now it’s a valuable skill, but two decades from now it may not be valuable at all. Technology can depreciate the value of your skills. Self-driving truck would eliminate the value of your skill.
What makes this even more crazy is game industries we know and loved are getting into NFTs which is ridiculous. Absolutely ridiculous. A good example is Ubisoft started a thing called Ubisoft Quartz, mostly about selling NFTs. Luckily though, they failed miserably. Edit 1/2/22: Square Enix gave us a middle finger for the new year. I loved them because they make good games like Tomb Raiders and Nier. It’s so sad now. At this point, I’m making a switch to indie games. Edit 2 1/7/22: I have a bad feeling Rockstar is getting into NFTs…
Thank you for the video. I’m a traditional artist and I get asked if my art can be purchased using NFT and it sounds so shady. I didn’t understand the concept until now. Thanks 🙏🏽
This is so well executed and simple to understand thank you. And I still feel this whole thing is a massive waste of money but eh people will do what they want.
The best part about it is that the original artist still technically owns the copyright to the JPEG so they can still make merch from it. So you basically sold a bragging right for Millions of dollars. (By best part I mean good for you if you want to sell, not for the idiots that buy them)
@@RGC_animation Thank you. For me at least that's the missing piece in an otherwise meticulously well-assembled puzzle! (Although I was also almost thrown off by Harris referencing the jackets by "Uniqlo", thinking for a moment that the brand claimed to manufacture actual unique products -- which technically would be true on, say, a microscopic level -- making for an appropriate comparison to NFTs...)
Thanks a lot⤴️For all the effort you laid, for making me smile when I was in blue, and for sacrificing your all to me. So blessed to deal with you #VCORPINVEST
Believe me if they started doing this I think lots of people won't buy pcs for me the only thing I like when buying an album is the pcs but If they don't include pcs there is no point to buying an album because the music is online 🤷🏻♀️
I'm not going to lie, you're easily one of my favorite youtubers. The style of editing and your narration do a remarkable job of captivating the audience, also the careful research you do for all of your videos is incredibly admirable. Seriously man, you are amazing at what you do. Keep up the wonderful work.
Successful people don't become that way overnight, most people see at a glance-wealth, a great career purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life.
Hello, I'm new to Bitcoin trade and I've been making huge Losses but recently I see a lot people earning from it. please can someone tell me what I'm doing wrong
That's true! As a beginner who doesn't understand how Bitcoin trade really works and you really want to make profit from it. I will advise you to first start working with a professional broker
When referencing corporate America, he said “They don’t really care about you as they make it seem” realest thing he said...I’ve seen experienced it first hand in the DMV. Black ppl aren’t really respected in corporate America. Glad that he was able to get out of there and become his own boss LIBERTONCORP
Let’s not forget that the biggest payouts in the markets don’t come from great performances but rather it’s great promotions. Stay invested, diversification for streams of incomes is very important
It’s the start of a new year and the non - investing public should really pay attention to the markets cause there’s no better time to invest than this period, I’m speaking from experience. I just dropped some cash in crypto too
Leaving it in investments rather than my bank accounts is one decision I’ll never regret, over the years I’ve accumulated tons of wealth from proper investments in Bitcoin, non-fungible tokens (NFTs) and stocks. Currently I plan on maximizing my gains and growing my portfolio even bigger
Be it a crash or rise the financial markets will always have lucrative means for folks to earn decent payouts. I’m just being inquisitive? how are you yielding gains
I’ll take investments in stocks any day they’re very remunerative only problem I’m having is I really don’t know how to go about it, I do get lost and overwhelmed by the markets. any solid pointers would be helpful, I’d appreciate if I got a reply
In general knowledge without experience, in the markets indeed can become very inundating, since the pandemic till today I don’t rely on full time jobs for money cause my expert Christine Lynn Saitta actually pay off and I’m passively earning incomes. system has kept my portfolio elevated and healthy.
At first when I saw that people paid millions for those I just thought they were stupid-rich stupid millionaires, but then thought that something more nefarious was going on.
@@MrJakson112 The art materials initially need to be manufactured but once the artwork is created it holds within itself the information that it exists and the person in posession of it is the owner. The true cost of the 'NFTs' is in the fact that, because the types of digital items being discussed here are inherently fungible (you can download and share any of them in your own internet browser) the item's value is only 'recognised' as long as the record of the 'purchase' transaction is perpetually kept within the blockchain. Which with every new transaction is growing larger and more difficult to process, which in turn requires more hardware, consuming more and more power to make these calculations, which needs to continue to exist PEREPETUALLY for any of this to mean anything.. Thereby using FAR more energy than manufacturing a paint brush, a canvas and some paint...
After you purchased an artwork, you’ll have to transport it and keep it in a controlled environment. The logistics of it involves air/land travel, and electricity. it consumes way more energy than a transfer on the blockchain
First the McDonalds video being adjacent to right to repair by Louis Rossmann, now NFT being adjacent to Benn Jordan and NFT in the music industry. Seriously love these deep dives and explanations into niche things, they help me explain it to others in a more reasonable way!
*I have always had a deep interest in this and would really love to start from somewhere anywhere actually , I believe this is what our future is all about*
Did you ignore the part about it literally killing the world. It can't be the future I'd there is no future. Also what buying pictures or fucking tweets is "the future"? Raise your standards.
That’s some Scary sht. I’m thankful for my age and eta I grew up in. The one where tangible goods existed and held value be it sentimental or monetary. This direction we are allowing our world to become is terrifying and illogical. Our children can run the fk out of a computer but give them a map n some coordinates or a rotary phone and we quickly see that it’s pretty much a wrap on intelligent society
I actually predicted that this would happen! I knew that our current society no longer valued systematic labor, but original ideas. The transition of value has became obvious once people started selling scribbles.
When he said "let me give you an example", I was already expecting the orange jacket. I love how the orange jacket obsession became part of the brand and lore of this channel.
I think what is going on is the reaction of the feeling of “always wanting what you can’t have” if someone has something despite you being able to see it else where, because people have brought value to it because it’s an exact version, it creates hype over that one thing
@@groovesan Or you have the same effin picture for free as the guy who officially owns the picture worth 150k and is validated for it by his friends as well as the media.
To dive deeper into the world of crypto check out this crypto debate video I just released on my channel: ruclips.net/video/v0V_zkng4go/видео.html
a
I see you've actually been listening to the other side! Way to go, you've passed the ideological Turing Test.
Great video on web 3 can't wait for web4
nft cringe
Victor Chaos introduced me to NFTs
No matter how well this was explained, I still feel I’m missing something fundamentally important as to why people are spending money on this shite
Same bro 😂
Exactly, it shows no ownership at all. It just means you purchased a digital replica to look at or listen too. It literally has no value other than someone else paid that much for it once before. However as an artist and being able to go through companies that mint the art and track the sales giving me a percentage of each sale is fantastic until the hype dies out. All it takes is one piece of your art making it into a rich collecting group where they fight over the rarest of the your minted works.
But realize the hype is generated by these companies minting stuff... The hype never was "rich people" investing like a stock... They invested into it to create the hype... It will be a short lived thing like beanie babies as these companies can only sucker so many people to play the losing game of paying to mint art... Some parts of the market might stand through it because of sports using it like animated ball cards. Beyond that i don't really see much of a reason outside of collecting. Its a question of how many fans a specific nft market can keep, end of story.
Bc it's gambling
Imo, it's just so someone can brag about being rich or owning something widely admired.
As a digital artist one of my biggest concerns about NFTs is art thieves. I wouldn't want people getting tons of money off of art that I spent hours on, and wasn't planning on selling.
Hey that's a nice nft you got there
It would be a shame if I
Screenshot
the smallest thing you could do to piss them off is to screenshot the nft that "they own", and joke like "guys look i do nft's now lolololol" what would they do? say to delete the screenshot? its originally made by you anyway
You thief using my name. Now prepare for trouble
their copy of your work would not have the same id as yours and will be obviously fake and you could sue them . thats wht nft does .
Do artist still use watermarks on their online images?
These art styles go so hard. Feel free to screenshot.
No pay $39500, or
@Central Intelligence Agency _________.
@@hansfromcongo6322 no lol
waaah waaah pay 3 thousand ETH or you wil lbe fined !!!1!!!
@@hansfromcongo6322 *screenshots*
1:04 What is a NFT
2:32 Ad break
3:41 Fungible - Replaceable
5:42 Difference between Fungible & Non-Funglible
6:00 Token - Blockchain
9:57 Examples
13:07 The Flip-side to the big fad (as of April 2021)
16:36 Outro
Oof I had to scroll through a lot of bots to see this
So NFTs don’t really have value for what it is, they only have value for what people give it. Which is why in the months since this video was posted nfts went from stuff like the first tweet to a couple thousand random drawings of a monkey
Actually they have made games and private clubs out of them now which does have value
So just like normal art? Some modern art pieces are literally some colors on a canvas and people buy it for millions
@@sonnykensenhuis8562 Kind of like that but if you own one of those for example some companies use ownership of one of their nft's as an exclusive membership card into a private group that hosts events with members only. And since some have a minimum purchase requirement of around 200k its pretty inclusive
Yes the value is only what people are willing to pay. I treat it kind of like comic or sports trading. So if it’s a drawing by an artist that I already collect in the tangible world. I find it amazing ( through nostalgia) that I own the first digital print of Spider-Man #1 or my Lebron James moment. I see more video games implementing NFTs into gameplay as well. When I play XBox and purchase a skin or certain weapon this is essentially an NFT . I can see game makers creating many items with rarity involved in the future. Then they will all set up secondary market places where players can buy, sell or trade these items. Imagine a COD market place where you could buy an item that gives you even a slight edge over your competitors… and this is just one example. it’s mind boggling how big NFTs will get. The NFT market is in it infancy stage kind of like Bitcoin in 2016 with implications to dwarf crypto in marketcap size and user adoption. Happy trading… 😊🚀
This man has no idea what a nft can be trust his video and fall
There are a bunch of Artists I follow who are deeply effected by this. One in particular is against NFTs because of the geoimpact, and some one, or group of persons are taking her art and making NFTs of it against her will. it just brutal. And there doesn't seem to be any way to hold these people accountable because it's so decentralized.
as an artist, that genuinely sounds so annoying and sad. imagine putting your hard work and skills, finally having a piece you're proud of then posting it to your social media account but a random person just steals it and has the potential to PROFITS off of it.
@@reyalfa18 the ONLY work they did was taking a screenshot, thats it.
Artists can make a slogan im digital art they make that acts like a watermark showing the person who made it in reality against NFT. Lhotoshop #NFTScheme or something over a tattoo or beard.
I agree with most of that, but I do dislike when people talk about the geo-impacts of blockchains. Why is the focus always on this new technology disrupting things and causing climate change and not on the fossil fuel plants literally polluting out the CO2? As civilization advances, more and more electricity will be consumed, and blockchains are just a part of that new future.
@@reyalfa18 correction. Copyright laws still apply here. You can sue them
I'm glad this man uses pokemon cards and orange jackets when explaining things in his videos so I, an adult child can understand.
Same here mate, same here 🙋♂️
and pizza!
👍🏻🤣
Turns out we all, myself included? Are adult children. The plague of our communication culture is that we try to sound smart and complicated and the result is no one really understands. I make these videos in a way I would want to explain it to me.
this guy is hypocrite! he is using YT which consumes much more energy that this ETH protocol! your NETFLIX bs as well!!!!!!!! go away UNSUBSCRIBED!!!!!!!!!
Edit: You will never know why I got this many likes.
Thank you all
Indeed
Thats the intelligent way of putting it
I would have called it the era of morons
It's been that way since we transcended the basic needs of life. Nothing new, happening for centuries.
I guess you've never heard of the Tulip mania in the 1700's....this is nothing new in humanity
@@johndonaldson3619 Human nature might be the same, but considering that we still reference tulip mania today suggests that this was a highly unusual event rather than the norm that it would be today
Mainstream news media couldn't make content this good if they tried.
well good thing cause they dont even try
tbh they could easily do better that just doesn’t sell
They actually could. They have all those people but they don't because they have to pump news every day.
they can. only that it’s 70% ads. Not even unique ads probably just 5 ads repeated over and over again
Mainstream media can't get their head out of the democrats a$$
Why does all of this stuff make me wanna live off the grid in the woods somewhere far, far away from everyone in existence?
probably because it makes real society feel less real since this is a huge leap into making everything digitizable
Me too
Probably because you suffer from anxiety and have lack of confidence in your ability to Adapt to new times 🤔
@@BlackandWhitecustoms maybe I just lack the ability to follow the heard blindly like the rest of you crypto cry babies?
@@michaelc1326 your weak that's why you run. I control my environment so I don't care what happens my circle will survive and make changes as we have. So go run and hide in the trees with the other of the weak people who don't know how to make moves and think they have to make be like society
Thank you for being there LIBERTONCORP when I wanted you to..... I was lost in this new world that I was hassled to start with ....you not only guided me along the way but you also showed me the proper way....whatever little I have been able to achieve in life is because of you today ..... I want to thank you for being there and showing me the proper way of doing thing for me you are my best guide as you truly showed me the way to life....once again , I would like to tell you a heartfelt thanks for being there.
*This video is so high quality,* that it probably would be sold for millions through NFT’s.
_Not saying that anyone should actually buy it with NFTs._
I wouldn't agree
@@JohnDoe-vh7vc contact the whatsapp number for more understanding
69blikes
@@bradleypitt3525 where do i invest?
@@je7647 contact the whatsapp number now
One thing about NFTs that's rarely explained well is that NFT's are essentially a reciept of ownership. In other words, if you buy a jpeg as an NFT, you don't own that jpeg. What you own is a public receipt indicating ownership of the jpeg, and a link to that image. You own metadata. The image itself is NOT hosted on the blockchain. Because of this, while nobody can change the ledger indicating that you own the jpeg, somebody CAN change the image itself, or simply erase it. If the domain that's hosting the link goes offline, or if the owner of the domain changes the image, as the owner of the NFT, there's nothing you can do about it. Blockchain is impressive technology, but NFTs are a scam. Don't buy the hype.
I'm still fairly ignorant on the subject, but one of my issues is this concept of NFT's being infallible proof of ownership or something. There is no such thing.
@@catisreckless4647 well, listen to your hunch that perhaps you are ignorant.
This guy is right that NFT's are a scam, but the method and technology for proof that you own "it" are sound, provided the blockchain itself is sound.
In order for a transaction to be approved on the blockchain, the entire (or perhaps only a majority of 51%) need to approve it.
Even if you manage to defraud one part of the system, the rest of it immediately recognizes the transaction as fraudulent.
And when it is a cryptocurrency with hundreds of thousands of miners processing these transactions, you can't simply defraud the majority of them. The system is decentralized, making it impervious to fraud if it has proliferated enough.
That said, the current cryptocurrency craze is a lot like the dot com bubble. People hyping up worthless domains as if they'll be the next big thing. Most crypto is that right now. And whatever blockchain your NFT works off of could be one of those trash coins nobody uses or could easily be hacked.
@@Theviewerdude There is no such thing as infallible proof of ownership. That fact has nothing to do with NFT's.
@@catisreckless4647 yep and the biggest irony is, who owns the art piece more? The one that screenshotted the jpeg or the one that bought the url/metadata of hosted on the Blockchain. At least I can look at the picture whenever I want lmao
@@dihanmustakeem4089 As I said, I don't know enough about them to say "Ooo, Bad, BAD!!" But I do know that as far as I'm concerned, they are amazingly pointless. This notion that they'll "change the future" is also pretty questionable. They are merely just another fad for people to latch onto. Monkey see, Monkey do at it's purest form.
Everyone: “Modern Art is way too expensive for what it is”
NFT: “Hold my image”
Was literally having what you just said on my mind all week
"... For 2.700.000$!"
At least modern art doesn't hurt the environment.
@@revolvingworld2676 technically all the canvas used from trees is hurting the environment, but when in comparison to all the power used of NFT’s… yeah you’re right.
They both full of money laundering, but as an artist, I really hate computer generated NFT jpegs. Even Pokémon trading card would make more sense than these NFT
“Your money is just a number on the screen “. That hit hard.
how it differs from "Your money is just number on the paper" ?
That’s why it’s better to own something physical like gold. They cant make gold magically disappear or change its amount. 1lb of gold will always be 1lb of gold
@@notmenotme614 but gold is also like nft if you think about it. If people loses interest in that commodity then it's worthless
@@paulshaju2806 Except, gold is a real, physical, finite commodity with tangible utility. It cannot be replicated or mass produced at will, therefore it will always be rare, and since value is associated with rarity, it will always be valuable.
@@ntuthuko3175 it has utility but if you think about it almost every mineral or metal has utility.
What I'm trying to say is that gold is definitely rare but why is rare considered valuable? It's because of human perception
On the other hand why is food or grain considered valuable it's because it's human need it's a necessity
Gold is not a necessity we can live without gold
Real necessity is food ,clothing etc
And these were a lot more valuable than gold during early ages
Anyone else just feels like Johnny's explainer content is one of the most creative on the platform? I’m always left wondering how he makes the most “mundane” topics seem so fascinating
There is always another
This topic is not "mundane" though! Blockchain might well be as big as the social media revolution. WWW 3.0?
well, he is one of the best editors on the platform
I'm trying to do a similar style, different content. Maybe you'd enjoy it as well.
@@larslover6559 I came to say this.
When we have everything we need we create value out of something that has no value. WOW ... well said man. Great video.
Why would we want to promote this concept?
Everything has value, that's why it was created. Whether or not it has monetary value is another story.
Now excuse me while I pirate all of these nfts. brb
Geoff said: WOAH DEEP SHIT 😭😭😭
Nothing has value on its own. Nothing. Something is GIVEN value. There is nothing on the planet that has any intrinsic value.
yea and this isn't doing great things for the environment. we always want what we don't have. by sticking with what we have already and focusing on meaningful relationships with others, i think we can be happier and live more fulfilling lives as well as helping the environment.
"I mean, I could donate $69M to something beneficial like cancer research or causes to help the impoverished... Nah I'm gonna blow it all on a JPEG."
That would not even make a dent in cancer research, big pharma has trillions and so much power
@Eagle Beast of Prey here you dropped your tin foil hat
Its being used to launder money
@Eagle Beast of Prey ok trump supporter
@Eagle Beast of Prey no no no, the guy you are making fun of is right, you dropped your schizo medicine and your tin foil hat
Finally someone who is willing to teach us younger guys instead of pushing some bs course on us. Appreciate it #VCORPINVEST
Thank you for your explanation, out of all the videos I've seen this was by far the most clearest. Looks like I'll just be screenshotting the NFTs I like cause ain't no way I'm spending thousands on a JPEG
100
I think ppl buy them just because they think the value of it will grow more, because it's like a rare thing and therefore they're just hoping to resell it to make money off it.
@@slavicqueen
A bunch of scammers scamming each others basically.
Following the "There's always a bigger fool" philosophy.
@@slavicqueen I agree....90% of the NFTs I've seen are ugly as hell though, no clue how they sell for so many thousands and mlllions of dollars. Like the pixelated portraits of cartoon illustrations "crypto punk" or whatever
@@cxrlitosway lol exactly, all of them are just so ugly and stupid I literally don't understand the hype that's been created. What if you never get your money from it? And now that's what your millions are put into. Some stupid pixilated image on computer. 🤦♀️ pffft I'd rather buy land with that much money
johnny = best teacher
johnny = cleanest videos
johnny = most entertaining videos
johnny = best informational videos on YT, underrated too.
Johnny, is also a firefighter, an astronaut, a police officer, the list goes on. What a legend
Johnny = But Russia
Jake Tran takes that spot
James Jani is a serious contender, also 1 million + is underrated?
If school had taught me like that, i'd be a genius
Johnny Harris: This orange jacket has sentimental value to me. I am attached to it
Also Johnny Harris: YEET
lol
lol
lol
Orange jacket: 🗿
I am not Johnny Harris and I approve of this message.
I wish you brought up how nft's created a boom in art theft where people were selling things they didn't own and didn't make, like how many artists have found their work being sold on nft websites without their permission, or even their knowledge and receiving 0% of the money from the sales
That is an excellent point. Crazy that it is a flip on the typical art theft of how easy digital stuff is to copy.
i saw one on twitter where a recently dead arttist's work was sold as an nft and none of the money went to the family
The thing I don't get though, is they don't have a physical copy of it. It's like if I posted a photo on facebook, and someone tried to sell it. Well, on Facebook it's a super low, shitty resolution, whereas the original in my computer is 40MB of raw detail, that the buyer nor the seller have.
@@cubeography Are you talking about Qinni (@QinniArt), the artist that died last year? Yeahhh shit's fucked
That's what I was thinking, I can get Mia Khalifa's debut video, Mayweather first professional fight, etc... and sell that as a NFT, it's retarded
To me, the main difference between NFTs and other non fungible things is an NFT have no real added value.
You can look Mona Lisa on the internet. It's fungible, therefore it has very little value (in this case, none). Or you can pay a ticket to go see it an experience the real thing. Added value = more expensive. Or you coud buy it (if it was for sale), and then you could experience it every day. More added value = way more expensive.
It's a pretty basic economic principle that people buying NFTs are forgetting. If it's more expensive, it's because it has more value. Sure, for a lot of things, it's 1) subjective and 2) there is a part of perceived value. But only a part. There is some real added value to possessing or experiencing the thing.
Possessing Nyan Cat's NFT brings no more value than just watching it on the internet for free.
That being said, people do whatever they want with their money. To me it's just foolish but hey 🤷♂️
People don't buy valuable things like the Monalisa to experience it everyday. Even if they did, they'd have to spend more to secure it and make sure it's not stolen or damaged. They buy it for perceived value.
NFTs have value because it's secure and verified. You can own an item for it's perceived value and not worry about someone stealing it.
The part I'm unsure about is, these memes are floating. You don't know if people will care about Nyan cat in 20 years. Monalisa held value for 100s of years, we don't know what people will care about in 20 years.
Its the exact same as art, has no actual value apart from how it makes us feel. Same with wallpaper and buying designer gear.
I screen shot jack doeseys tweet. Same fucking thing lol
I can look at the Mona Lisa online for free everyday. What is the difference?
@@vibez2806 Not much difference in terms of experiencing art. But you buy it for 100M and sell it 120M in a few years, show off to your friends while you have it.
Johnny Harris is a legend, much love and support from Algeria 🇩🇿 I love your way of simplifying things. Thank you boss
@@DyslexicMitochondria Your username made me click on ur profile. Your channeI is SOOO underrated bro
He's good enough to know how the democrats and Biden operate but keeps throwing the soft ball.
Algerian gang
🇲🇦💜
Wlad lablad yeh
Determination is highly needed in stocks trading. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time, we all need make moves now #VCORPINVEST
Imagine spending thousands on a picture when you can just screenshot it or take a photo
Im pretty sure nft is gonna be a big part of the metaverse and nft is only 1of1 and you know it’s 100% authentic when buying an nft
@@philsbootleg There's nothing that makes it authentic expect for your own perspective. No one cares if you own a shitty picture, especially when you're harming the environment by doing so.
@@jojothejanitor2134 Yeah, buuuut money.
@@philsbootleg Imma screenshot
@@philsbootleg who the fuck cares about the metaverse go outside bozo
The jacket analogy to explain fungibility was so good. First explanation thats actually got me to understand it lmaoo
Rcc
Nah
@@imbrakingthrough2152 [Verse 4: Dwayne Johnson & Tech N9ne]
It's about drive, it's about power, we stay hungry, we devour
Put in the work, put in the hours and take what's ours
Black and Samoan in my veins, my culture bangin' with Strange
I change the game so what's my motherfuckin' name? (Rock)
What they gonna get though?
Desecration, defamation, if you wanna bring it to the masses
Face to face now we escalatin' when I have to put boots to asses
Mean on ya like a dream when I'm rumblin'
You're gonna scream, "Mama"
So bring drama to the king Brahma (Then what?)
Comin' at ya' with extreme mana (Ahoo, ahoo, ahoo)
@Enthusiastic Aizawa I don't care
Send this dude Johnny to the moon! World class content, no click bait crap, authentic, and so informative.
@Johnny Harris what is this strange code?
@@samsawesomeminecraft it's a fake bot account
@@ekramhasan1907 plz help report them as spam
Greetings!
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RUclips ruclips.net/channel/UCfCbZ7ENcKt_IlgFpzCGTUQ
FACEBOOK facebook.com/profile.php?id=10007616895046
DISCORD discord.gg/GH4ecpP5W8
Success is about focusing Your energy on
what creates results and using what you
already know
People are really making a lot of money
from it..
So investing in it wouldn't be a Bad idea
Seeing you guys making much money
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Someday, a digital picture of Johnny’s worn orange jacket will probably sell for a thousands of dollars at an NFT memorabilia auction.
I will buy it 😂
I outbid @@thomasduffyjr by ฿1! 😉
(That's 3 US cents. I don't know why Johnny used the baht symbol to represent Bitcoin. I hope that's not what the cryptonutters are doing.)
yeah but I ain't buying one!!!!
Yes! This is a good one.
@@thomasduffyjr i will buy it too !!
This guy explains complex concepts so simply that you are ready to write an essay on the topic after watching a 15-20 minutes video. Johnny is my favorite teacher ❤️
Are you planning to buy an NFT now?😛
Reject modernity, embrace tradition
@Johnny Harris Roflmao
Dude...fantastic job explaining NFTs. I'll be honest, I've read some, watched a lot of videos and still never really grasped it. You made it very clear and very understandable. Oh and the production was fantastic. Well done!
200th like
@@MASTEROFEVIL think he explained pretty trash
I use the service of a senior trade analyst Sir Benjamin H. Ravies as my fiduciary and I have been making profits minting and selling NFTs, if you don't know how to start then just seek professional help. Made £ 4000 this week
BenjaminRavies (a gmai lcomm to send a mail directly okay
👍
If I asked you, right now, to give me a 1-minute pitch as to why you bought/want to buy any NFTs, could you do it?
I am interested in making and selling NFT's, but right now is probably not a good time for me, considering the gas fees
@@legilooks, They seem to think the gas fee is reasonable, but not at for some people.
I don't see how cryptocurrency and the idea of NFTs will have value for the internet in the future,
If you venture into NFTs because of the hype, it's not going to be good, it is very important to follow a plan, and using the correct techniques could be very beneficial also have a Financial broker like Cintra V. Bedassie who guided me through the rough market and my wallet has increased to 7x of the total money invested.>
@@younglee-segredo831 So, how do i get to this advisor because i don't understand this NFT?
Johnny Harris is THE definition of high quality and quantity for content
The amount of work must be INSANE!
His content reminds me the combination of early VOX and Great Big Stories :D
Meh, I wouldn't go that far. He's style works for many people and for others like me it's a bit too "stretched out". I feel he can easily condense this into 5 minutes and still keep his style and format.
Agree
Not for quantity, quantity is perhaps recent, quality no doubt
I finally understood what NFTs are, and where the environmental impact argument comes from.
Now I see why it's a serious problem.
Thank you for the good explanation.
lol I mean he didn't give much info on it except a simple "they use power so global warming" explanation. You should probably go look up things like Earth cycles and climate cycles before jumping to the conclusion that Humans are creating an issue lol.
@@PTIPPY I'm wondering if the guy in the video worked out how many TWH facebook needs to feed its herd :p
@@Tokinjester ikr lol
@@Tokinjester BINGO!!!!! He must be on one worlder central bank system kinda dude
i can make a nft that says WHATEVER I WANT. it isn't even possible to imagine a world where nfts mean ownership, because you would have to validate every nft's minter, which you need a central database for.
This is how schools need to teach children. Johnny makes learning fun
I had a teacher who taught a lot like this in high school and I got as excited to go to his history classes every day as I do when Johnny releases a new video. It really is effective.
Absolutely!
The education system doesn't want teachers like this.
Except this video didn't teach anything and just threw around some buzzwords. I still don't know what the T in NFT means, which is the whole reason I clicked on this video.
@@poika22 token, the proof that you own that digital product basically
Getting a way to make income without having to leave home isn’t exactly as easy as you all think it is , talk is cheap and it’s sure easier said than done , I have my source , and I would rather stick to that, it pays well, even my stepdad quickly #VCORPINVEST
He always manages to scratch that particular itch in your brain that you didn't know existed. Half an hour later you find yourself down the rabbit hole.
U wrong
@@anasalattar7591 I think he's right why do you think he's wrong
Exactly!!!
Exaclty, I'm still reading about ice cream machines hahahaha
@@SandyQuintans hahaha
This is by far the most simplest explanation I've come across of what the Blockchain and NFT thingy is. Thanks!
I’m glad you can understand it because I’ve no idea… if you could explain it to me like how you’d tell a child why we drive cars…🤣
@@sugar4522 haha I don't think I can do it any better than what Johnny has done here.
You mean you don’t blockchain?! Urgh 🤮
@@Nige. I can block chain?
@@Nige. blockchain>environment?
Its good that people are so aware of the environmental impacts of NFT's/Crypto. Prices literally fluctuate depending on how healthy the crypto is for the environment.
That fact you believe humans can affect the Earths climate is so laughable, methane gasses has been releaded for MILLIENIA and the earth always makes it thru. Climate change is just another scam the Marxists use to get you to give up your rights and more power to them.
@@Gh0zT-777 the changes we are seeing today are too sudden and rapid to be attributed to orbital changes. ocean temperatures and CO2 levels have simply increased way faster then ever before in Earth's history. scientists know this because the CO2 molecules released by human activities are literally different from the CO2 molecules released naturally by plants and animals. using carbon dating, they are unable to identify any other period in the Earth's history that has warmed this fast without the presence of human-caused greenhouse gasses
@@avemariella ...except during apocalypses such as the downfall of the dinos.
@@Gh0zT-777 You really believe that don't you? :(
LOL.. what?
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works #VCORPINVEST
NFTs aren't an investment. It's a scam!!
These NFT's will go down in history as one of the most stupid things in history of mankind.
it's the same as pokemon cards or baseball collectables. It's the same thing but in a digital format.
@@Daxmacloi But why do they cost so much?
It's ridiculous
@@kalma8216 Because they have added value. If there's a group of people that believes in the value of something, then that item must be valuable (that's the theory). That's why "the mona lisa" has its value: it's just a painting, but we recognize its value because "it's one of a kind" and it's been sold for a lot of money.
Well, nft happen to be in the same spot. They are something new, a new way to sell digital art, so people grab some nft and sell them so expensive because "it's one of a kind" and because of hype.
@@kalma8216 they generally don't cost this much. Of course, if you are not in this business/not interested in these things, you will hear about cryptopunks and bored apes selling for hundreds of thousands of dollars, but really, most of the goods sold as « NFT's » have just as normal prices as the « real world things »
@@Daxmacloi Except you know they're PHYSICAL and don't require power to continually exist
Decades later we would profess love to our loved ones not by saying "I love you" but rather by saying "I value your non-fungibility"
Bruh, send this to your crazy blockchain obsessed friend to show them you appreciate them.
"I want a human that looks at me like anonymous millionaires look at NFTs"
Previously, a relationship was real if it said so on your facebook profile. In the future, it'll only be real if both you and your partner say so on the blockchain.
The year is 2050
“Duuuudeee you have to get out of bed! You’ve got to go to work to earn 20 magic NFT’s so you can trade them for food this week”
VECHAIN Look it up. It’s already in the process
@@edgardmartinez6026 Try to understand what my comment is actually saying.
What is great is that if we are having food insecurities issues then it would be more economical from both a monetary and resource standpoint to just use a bartering system or go back to our current local currencies. The resource and energy overhead for NFT's is only culturally viable because we don't care about burning readily accessible fossil fuels.
That's literally Doge coin already
LOL!
Good explanation.
Petition to blow up the Ethereum wharehouse
@@bucherwurm5344 is nft still alive or dead
@@courtjester6408 I dont know, but i hope its the latter one
ruclips.net/video/TjHk9XTsG7k/видео.html
I’m still confused about the implications of NFTs on intellectual property rights.
As I understand it, the purchaser does not own the underlying asset, right? The copyright is not transferred. So does this mean that the buyer of Jack Dorsey’s NFT can’t put the tweet on a T-shirt and sell it without Jack’s permission? I feel like this part of the equation is never thoroughly explained, either in the media or elsewhere
I would like to know how that works, in the digital world it would be easy to track, on the material workd it brings in new regulations right?
You're right, copyright is not transfered (unless the original author of the asset transmits rights to the owner of the NFT).
In general, people can only claim ownership of the NFT itself, not the asset. People still give value to it because they can prove the provenance of the NFT. Consider it as being able to prove that famous basketball player xy signed your basketball, I guess.
I don't, i will start printing this art and say it i own the paper.
@@hubble5755 but you still don't own the basketball
Think of it like the black market. There is no intellectual property because there are no laws and regulations yet. It's just a big ledger of people agreeing about who sold what to who
Your explanation of the blockchain is phenomenal. Extremely straightforward, no tech fuzz that nobody understands. amazing
Send a direct MSG right now 👆💬💬👍📥..
Teach you morę.
I always just saw NFTS through memes, but now that I know what they are and what they do, this is actually really flippin scary
Wow. I've been looking for someone to explain this in a way that makes sense without trying to sound smart by throwing a bunch of lingo and terminology out there. Bravo! I honestly understand the NFT, blockchain, and crypto world a lot better after this.
NFTs prove that rich ppl have so much money they will literally buy anything for the clout.
my guillotine finger getting itchy
Maybe but NFTs are not just about rich people flexing. Alot of us who are interested in NFTs want to use the technology to even the field.
Yeah but the problem is the technology, and not the people using it.
It's literally the opposite, it proves that poor people can finally create value from nothin and aren't limited by what rich people deem expensive, for the first time an aspiring artist can create something and sell it on the Internet without having to sell a kidney to have it auctioned off at Sotheby's! This is liberation from the capitalist machine that has placed value on paper and disconnected the world from gold which in itself is an NFT ! Think about that for a second!
@@Glebean laundering & inflation at it finest.
as a newbie, this is honestly the best explanation of NFTS. i get it now. it has value because its ownership is publically recorded on the blockchain
How do i get it
The issue is that anyone can take anyone shit and make money on it. That's all I see
the part I don't get is how the original transaction happened in the first place. Lebron didn't sell the digital version of that shot.
@@hengineer exactly so who gets to claim ownership it seems its who ever claims it first regardless of who created the source content
@@hengineer the nba did. They own all footage of the nba games
Basically "copyright" but the trust isn't held by a government, but rather by millions of computers.
I think another point worth mentioning is the impact NFTs are already having on independent artists. People can anonymously tokenize artwork that simply does not belong to them, and sell the "ownership" to someone else, often making far more money than the original artist could've ever charged for the artwork, effectively stealing their intellectual property with no repercussions.
This same issue occurs on any media posted to the internet though.
It isn't strictly an NFT issue.
It is a media issue.
How many people use a jpg of a copyrighted image or screenshot from a movie as their google account icon, for example?
@@anthrosaurian Wow, I didn't know Google monetizes their fucking profile icons. /s
😒
Thankfully, copyright laws ignore NFTs completely.
@Mee Acownt because anyone can make NFTs, not just the copyright holder.
@@anthrosaurian the issue with that example is that no one is selling those jpegs meaning the artist doesn't lose anything, however in the example that the og comment provided the artist is losing out on a whole bunch of money tht is now going to someone who didn't put any work into the art at all.
Johnny: "There are 3 simple letters you need to understand N F T."
Reporter: "What does it mean, Not safe for work or something?"
No fuckn Twerking
@@phink_ LMFAO
It stands for “No Fucking Twats”.
More like Can't Fuckin Spell. Like damn 😁
This goes to show how many rich people are out there.
Hi there. Can i buy your comment for 9$? This is a historical moment and in the year 3000 people will look back at this moment and it will be worth $1 million. Nah im just kidding, i don't actually want it. You have a good day 😂
Hi guys. I'd like to get ahead of it all here and just buy this whole comment thread for 1000 crypto-monies? If you two are willing to shell out money for it then that's all I need to know. Value baby! And no, this has nothing to do with money laundering. Why would you even ask that?
Yet... Proof rich people do spend money on BS...
Millions and millions of em. More being created all the time.
There's no shortage of money.
its literally money laundering done in front of you lol
Art is SO MUCH MORE then just a number of people deciding that something is valuable. No one "decided" that Mozart, Miles Davis or Beatles were great -- rather there music SPOKE to people and their genius radiated through their work. Similarly, no one DECIDED that da Vinci, Monet and Picasso were great -- rather their art SPOKE to people and their genius radiated through their work.
I remember years ago walking through a museum in Italy. It had all sorts of artists that I had never heard of as well as some famous ones. Lots and lots of paintings. I decided after a while that I was only going to look at the artist's name of a work if it spoke to me. I walked past dozens of paintings and finally found one that really struck me. I took a look at the name -- it was painted by a certain Leonardo da Vinci.
difference between an nft and the mona lisa is:
1. the mona lisa doesnt have randomly chosen parts
2. the mona lisa is a physical item
3. the mona lisa is *actually* one-of-a-kind
Same with his non fungible jacket. It's literally replaceable. Means less to everyone else than it does to him. It's why there is so much confusion about NFTs, no one understands it as it's just idiots with too much money swapping it between themselves
@@njwtube the usual sentiment I see online is that its money laundering. I cant help but feel that way
Being one of a kind doesnt necessarily make it worthy,
Mona Lisa does have randomly chosen parts. The oil and canvas aren’t specifically chosen.
NFT’s are only not physical, but so are photos these days. You’re telling me you don’t value your digital collection of memories?
The blockchain will be the future, feel free to watch from the sidelines.
Cryptopunks NFT sold for millions of dollars, some people where lucky to get it early for free and later sold it for millions, you too can get access to some exclusive cryptopunks NFT by getting the right information.
The effort spent on editing these videos. Truly spectacular!
Love how you see the hyped moment critically! All of your videos are so well-produced and interesting!
19 inch VEINY BLACK KOK FORCED into a tight BUTTTWHOLE NFT
Johnny’s content is so diverse. He makes videos on things that are not even related. Keep up the good work!
Johny : This jacket means so much to me
Also johny: Throws jacket on the floor
serious tom scott vibes here
Whatever Happened to Tom's Hoodie?: Tom Scott at Thinking Digital 2013
@@doctergoogle yeah thats a good video
Success is about focusing Your energy on what creates results and using what you already know #VCORPINVEST
One of my favorite phrases is, "something is only worth what some idiot is willing to pay for it".
Make it into a NFT... what do you think it will be worth ?
this was literally so well explained like I had NO IDEA about this and now I feel like I understand the basics of it
the "basics" are..
this is a money laundering scheme. made to transfer wealth from person to person, from country to country.
it is also a money syphoning con, designed to part money from fools who dont understand that. and think that like Jack Dorsey, they also can "make huge profits" from "investing" in it.
it is also a ponzi scheme.. where the growth in value is coming from more and more fools pumping money into the system. and the moment the flow stops, it WILL collapse.
just like Bitcoin.
But purpose. I think its new form of corruption. And money washing
@@adamfirst3772 didn’t ppl say Bitcoin would collapse years ago😂
@@arjundhaliwal8853
i dont know what bitcoin will do..
i just know its a con. it is ABSOLUTELY worthless and just an IMAGINARY, virtual computer image, even if it hits $100k per pixel, because fools keep pumping money into it.
but once everyone realize this, it might collapse to zero that it deserves.
@@adamfirst3772 kk u can keep thinking that I’m not a Bitcoin or crypto expert. But u clearly don’t know anything about it and while ur so skeptic there’s going to be millions of others making profits while ur sitting at home typing in RUclips comments about how bad it is😂 pls don’t say random ass shit with no proof or knowledge to back it up that’s just ur random ass opinion based off nothing
Best explanation of NFT's ever. You should sell this as an NFT.
I'll buy this for 0.5bnb.
You have become the guy I come looking for when something is boggling my mind. THANK YOU for your content!!
I watched so many videos on RUclips in order to understand NFT; but you are the only one who could make me understand this very clearly.
Thank You Johnny!
I am also a beginner in NFT, maybe we can exchange some knowledge.
The editing is out of this world! Absolutely amazing! I watch a lot of RUclips and I have never seen such unique, refreshing, and satisfying editing...at least not from a non-major-Studio.
Johnny: ‘i have an emotional attachment to this jacket’
also Johnny: 9:56
Imagine someone doing that but with a dog lol
@@owentill oh no
Successful people don't become that way overnight .most people you see as a glance-wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life #VCORPINVEST
Thanks dude I knew something fishy was going on with these NFT Craze. I can actually see the flaws that this can be used as a way to do illegal things and without a human being trying to do a check in balance on this giant ledger my fear is that this NFT craze would lead to another financial crisis.
imagine money laundering
@@hengineer my first thought
2 in a week?! This is a treat.
More like a feast if you ask me
Let us eat some indie journalist chad man content for everyone
I thought the same thing
Sorry dude i had to get this out of 69 likes just because i need this to be the top comment
ICE CREAM NOW THIS? Vox ain’t on shit
This started as an NFT video, then went down the rabbit hole of the ultimate purpose/direction of humans. Once our needs are met, we seem to create imaginary value at the expense of real value. We create psychological excitement at the expense of the planet.
Finally after a year of trying to find understanding of what NFT'S are. Thank you for explaining thoroughly.
legends gonna make money now
How is your health
Money and riches are temporary, learned skills are permanent. One day your tweet is worth millions and next day the market crash and its worth nothing. But your skills, if valuable enough, will always retain their value.
No one is thinking when the jpeg gets corrupted lol
Amen
Hay is this is a ad segue for brilliant or skill share?
@@davidwarford3087 lol no...! 😂 But yeah they are all over the place and annoying as hell.
It’s not always true. Let’s say that you know how to drive a truck. Right now it’s a valuable skill, but two decades from now it may not be valuable at all. Technology can depreciate the value of your skills. Self-driving truck would eliminate the value of your skill.
Incredible video
Hello, if you are interested in buying NFTs with suitable prices, have a look at mine.
Looks like your interested in investing in NFTs🙄
@@artiananftcollections3317 Do you have NFT that you want to sell?
@@江海伦 Yes, I have with an amazing price. You can check them on my channel.
@@thepaper4868 Sure. Have a look at my channel.
What makes this even more crazy is game industries we know and loved are getting into NFTs which is ridiculous. Absolutely ridiculous. A good example is Ubisoft started a thing called Ubisoft Quartz, mostly about selling NFTs. Luckily though, they failed miserably.
Edit 1/2/22: Square Enix gave us a middle finger for the new year. I loved them because they make good games like Tomb Raiders and Nier. It’s so sad now. At this point, I’m making a switch to indie games.
Edit 2 1/7/22: I have a bad feeling Rockstar is getting into NFTs…
Oh no. Already, they are trying To?
@@brok56 Actually no. They already did.
GameStop is creating a NFT marketplace which will revolutionize the entire gaming industry
@@immortaltecneek how will it do that
I cannot fathom how this shite came about.....
Thank you for the video. I’m a traditional artist and I get asked if my art can be purchased using NFT and it sounds so shady. I didn’t understand the concept until now. Thanks 🙏🏽
What did you end up doing?
I also found it shady to give me 3 eth for some doodles 1eth =1700usd)
I refused because that was too shady...
You know it's Johnny Harris when 2 minutes into a video about NFTs you start to learn about human psychology
So far, there were only two group of people that understood NFTs: Those who sell it and Johnny Harris team. Thank you for letting us join the club! 😀
This is so well executed and simple to understand thank you. And I still feel this whole thing is a massive waste of money but eh people will do what they want.
The best part about it is that the original artist still technically owns the copyright to the JPEG so they can still make merch from it. So you basically sold a bragging right for Millions of dollars.
(By best part I mean good for you if you want to sell, not for the idiots that buy them)
Can you earn real money from NFTs or everything is digital, digital art, digital currency?
@@proletvladimirova828 crypto currencies have real world value, so yes you can
@@RGC_animation Thank you. For me at least that's the missing piece in an otherwise meticulously well-assembled puzzle!
(Although I was also almost thrown off by Harris referencing the jackets by "Uniqlo", thinking for a moment that the brand claimed to manufacture actual unique products -- which technically would be true on, say, a microscopic level -- making for an appropriate comparison to NFTs...)
Thanks a lot⤴️For all the effort you laid, for making me smile when I was in blue, and for sacrificing your all to me. So blessed to deal with you #VCORPINVEST
😀
Hybe doing a huge mistake in selling pc's in this form , like why HYBE.
Not just hybe. Sm started doing it now every company is jumping on this shitty trend. This is so stupid
ikr
that's what we say, they're like caring about money
I just don’t understand the point of it all, but I prefer physical media.
Believe me if they started doing this I think lots of people won't buy pcs for me the only thing I like when buying an album is the pcs but If they don't include pcs there is no point to buying an album because the music is online 🤷🏻♀️
I'm not going to lie, you're easily one of my favorite youtubers. The style of editing and your narration do a remarkable job of captivating the audience, also the careful research you do for all of your videos is incredibly admirable. Seriously man, you are amazing at what you do. Keep up the wonderful work.
Thank you for not lying.
Successful people don't become that way overnight, most people see at a glance-wealth, a great career purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life.
Hello, I'm new to Bitcoin trade and I've been making huge Losses but recently I see a lot people earning from it. please can someone tell me what I'm doing wrong
all you need is a professional trader else you will continue making losses
That's true! As a beginner who doesn't understand how Bitcoin trade really works and you really want to make profit from it. I will advise you to first start working with a professional broker
How can someone know a professional account manager that is trustworthy when legit ones are hard to find these days
@@marknorth5935 I highly recommend Jessica Robert, she is my current trader and her strategies are working
Seeing orange jackets as part of Johnny's monthly transaction makes you notice how he's so serious about that shiii
everyone is just excited to be part of the next big thing but no one stops to think about what they are creating
Underrated comment
They were so preoccupied by whether or not they could they didn't stop to think if they should!
@@groundeater6806 HAHAHAHAHA!!!!
Word to the nth
Yep we’re feeding the beast
When referencing corporate America, he said “They don’t really care about you as they make it seem” realest thing he said...I’ve seen experienced it first hand in the DMV. Black ppl aren’t really respected in corporate America. Glad that he was able to get out of there and become his own boss LIBERTONCORP
😄
Let’s not forget that the biggest payouts in the markets don’t come from great performances but rather it’s great promotions. Stay invested, diversification for streams of incomes is very important
It’s the start of a new year and the non - investing public should really pay attention to the markets cause there’s no better time to invest than this period, I’m speaking from experience. I just dropped some cash in crypto too
Leaving it in investments rather than my bank accounts is one decision I’ll never regret, over the years I’ve accumulated tons of wealth from proper investments in Bitcoin, non-fungible tokens (NFTs) and stocks. Currently I plan on maximizing my gains and growing my portfolio even bigger
Be it a crash or rise the financial markets will always have lucrative means for folks to earn decent payouts. I’m just being inquisitive? how are you yielding gains
I’ll take investments in stocks any day they’re very remunerative only problem I’m having is I really don’t know how to go about it, I do get lost and overwhelmed by the markets. any solid pointers would be helpful, I’d appreciate if I got a reply
In general knowledge without experience, in the markets indeed can become very inundating, since the pandemic till today I don’t rely on full time jobs for money cause my expert Christine Lynn Saitta actually pay off and I’m passively earning incomes. system has kept my portfolio elevated and healthy.
So it's like modern art. It's a way to launder money but uses a ton more energy than a splash of paint on a canvas does. Seems legit
At first when I saw that people paid millions for those I just thought they were stupid-rich stupid millionaires, but then thought that something more nefarious was going on.
Seriously doubt it does that. Remember that physical materials has to be manufactured, even the paints, the brush and the canvas
@@MrJakson112 The art materials initially need to be manufactured but once the artwork is created it holds within itself the information that it exists and the person in posession of it is the owner. The true cost of the 'NFTs' is in the fact that, because the types of digital items being discussed here are inherently fungible (you can download and share any of them in your own internet browser) the item's value is only 'recognised' as long as the record of the 'purchase' transaction is perpetually kept within the blockchain. Which with every new transaction is growing larger and more difficult to process, which in turn requires more hardware, consuming more and more power to make these calculations, which needs to continue to exist PEREPETUALLY for any of this to mean anything.. Thereby using FAR more energy than manufacturing a paint brush, a canvas and some paint...
After you purchased an artwork, you’ll have to transport it and keep it in a controlled environment. The logistics of it involves air/land travel, and electricity. it consumes way more energy than a transfer on the blockchain
@@user-lk4jd5yc8d I hadn't thought of that. Good point!
First the McDonalds video being adjacent to right to repair by Louis Rossmann, now NFT being adjacent to Benn Jordan and NFT in the music industry. Seriously love these deep dives and explanations into niche things, they help me explain it to others in a more reasonable way!
Bro, I want to sincerely thank you, you literally gave me a new and simplified way to look at things! Saved my life!
*I have always had a deep interest in this and would really love to start from somewhere anywhere actually , I believe this is what our future is all about*
the future of wasting money? nfts seem pretty cool but spending millions on something just bc it’s the original seems like a very expensive society
Did you ignore the part about it literally killing the world. It can't be the future I'd there is no future. Also what buying pictures or fucking tweets is "the future"? Raise your standards.
@@user-rb1rd7ub9r the other way a future making money
That’s some
Scary sht. I’m thankful for my age and eta I grew up in. The one where tangible goods existed and held value be it sentimental or monetary. This direction we are allowing our world to become is terrifying and illogical. Our children can run the fk out of a computer but give them a map n some coordinates or a rotary phone and we quickly see that it’s pretty much a wrap on intelligent society
I actually predicted that this would happen! I knew that our current society no longer valued systematic labor, but original ideas. The transition of value has became obvious once people started selling scribbles.
You're so smart you should invest :)
just setting up my twttr
(Now give me money)
Yeah except they don't value original ideas, people live in the past
When he said "let me give you an example", I was already expecting the orange jacket. I love how the orange jacket obsession became part of the brand and lore of this channel.
This comment is such a good example on what the video explains... Long live the inter webzzz, to the 🌙 boiiz
Lololol
Time was much simpler when “tokens” only meant coins that we used for arcades
I think what is going on is the reaction of the feeling of “always wanting what you can’t have” if someone has something despite you being able to see it else where, because people have brought value to it because it’s an exact version, it creates hype over that one thing
the funny thing is: I actually CAN have the same effin picture for free, same as that dork who wasted 150k on it
@@groovesan Or you have the same effin picture for free as the guy who officially owns the picture worth 150k and is validated for it by his friends as well as the media.
@@ThreeBeeHDb I'm going to right click you