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Thread: OUATIS sells for record breaking 4M with NFT attached.

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    #halmustgo Hal Incandenza's Avatar
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    Good development. Seeing as how they are gonna try and uphold the original wishes of Cilvaringz and still gonna come up with a way to share the music with a broader audience. It will take some creative thinking.

    Maybe yall can post some ideas.

    Btw at this point there's about as many OUATIS owners as there are active wucorp posters. Don't tell me yall didn't cut me in on this secret deal of yours lol.

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    #halmustgo Hal Incandenza's Avatar
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    Also, if the author's interested, I think there's (almost?) enough material right now to write a part 2 on the OUATIS book.

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    VogeltjesDansBende lid Jet Set's Avatar
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    What was the deal again with putting it on the internet for free?
    And where are the speakers at? Do the new owners get those speakers Marty turned away?

    The idea of doing expo's is very interesting. Would be opera level to sit still and listen to 31 tracks. Or you'd have to plan it over multiple nights, like 2. I've done short sessions in hifi shops, those were pretty nice. Who would see a piece of those ticket sales? Because something like that could be very lucrative. And how would it be made for the people? Because I could see prices being hiked. And people not being able to get tickets. People saying it is too expensive. For the last group, you often see a pay what you can set up. At least at festivals.

    Not sold on the NFT idea. Basically because I am not sold on NFT's at all. Just a whole lot of wasted energy for a digital contract. Not even the item itself. Nor is it yet recognized.
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    Chaotician ShaDynasty's Avatar
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    I have no idea what any of this means. Please don't try to explain it, I think I've tried to understand NFTs before and I'm too stupid to understand.

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    Corny Nuh! Capitalizing Cilvaringz's Avatar
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    Quote Originally Posted by Jet Set View Post
    What was the deal again with putting it on the internet for free?
    Can't do that. Not allowed to release commercially or non commercially.

    And where are the speakers at? Do the new owners get those speakers Marty turned away?
    Taken to RZA's Wu Mansion in Jersey.

    The idea of doing expo's is very interesting. Would be opera level to sit still and listen to 31 tracks. Or you'd have to plan it over multiple nights, like 2. I've done short sessions in hifi shops, those were pretty nice. Who would see a piece of those ticket sales? Because something like that could be very lucrative. And how would it be made for the people? Because I could see prices being hiked. And people not being able to get tickets. People saying it is too expensive. For the last group, you often see a pay what you can set up. At least at festivals.

    Exhibitions are being discussed but how and if they will manifest remains to be seen. It will always have to make conceptual sense first before financial.

    Not sold on the NFT idea. Basically because I am not sold on NFT's at all. Just a whole lot of wasted energy for a digital contract. Not even the item itself. Nor is it yet recognized.
    The ownership of the album is the NFT, not the actual album. Ownership of the NFT represents ownership of the album.

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    Corny Nuh! Capitalizing Cilvaringz's Avatar
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    Quote Originally Posted by ShaDynasty View Post
    I have no idea what any of this means. Please don't try to explain it, I think I've tried to understand NFTs before and I'm too stupid to understand.
    NFTs are nothing more than digital tags that prove that the work its tagged to, is an official work. Meaning, there are 1000s of images of the same picture available on Google Images, but one of those pics had to be the original right? the one that was shot by the actual camera and then released by the photographer. Well, NFTs solve that problem. All they really are, are digital tags to prove authenticity.

    If a photographer mints his picture on the blockchain, the NFT tag proves the picture is his and is the first one, or number 3 of a collection of 5, or whatever he wants it to be. A musician can do the same with his song, or album, or concert ticket, or anything you can creatively think of that could have a digital authenticity tag attached to it.

    Dolce & Gabbana were selling one of one suits with an NFT attached proving that dress had a digital tag that proved it was an actual D&G and there was only 1 specimen.

    Once Upon A Time In Shaolin is the same. The album is still the album, but whomever owns the NFT we made to represent ownership of the album, owns the album.

    In this case it was a DAO, or a collective of crypto folks called PleasrDAO.

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    The leather-bound book is very interesting. Can they share that with the public? As for NFT, I'm younger than Cilva, and yet too old to understand it

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    PRODIGAL SUN JZA/Jordon's Avatar
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    Congratulations Tarik!

    And PleasrDAO crew.. I will fly to NYC for a listen. Send me a PM. Bong bong!
    Last edited by JZA/Jordon; 10-20-2021 at 09:25 PM.

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    VogeltjesDansBende lid Jet Set's Avatar
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    Quote Originally Posted by Cilvaringz View Post
    NFTs are nothing more than digital tags that prove that the work its tagged to, is an official work. Meaning, there are 1000s of images of the same picture available on Google Images, but one of those pics had to be the original right? the one that was shot by the actual camera and then released by the photographer. Well, NFTs solve that problem. All they really are, are digital tags to prove authenticity.

    If a photographer mints his picture on the blockchain, the NFT tag proves the picture is his and is the first one, or number 3 of a collection of 5, or whatever he wants it to be. A musician can do the same with his song, or album, or concert ticket, or anything you can creatively think of that could have a digital authenticity tag attached to it.

    Dolce & Gabbana were selling one of one suits with an NFT attached proving that dress had a digital tag that proved it was an actual D&G and there was only 1 specimen.

    Once Upon A Time In Shaolin is the same. The album is still the album, but whomever owns the NFT we made to represent ownership of the album, owns the album.

    In this case it was a DAO, or a collective of crypto folks called PleasrDAO.

    Thanks for the explanation! Also, forgot to say: Congratulations on the sale.

    But the tag thing is interesting. The album now has a physical tag included to link to the NFT? Because as far as I understood it with digital works of art, this is separate. Because people are creating NFT's from random stuff. And I do not see how that would be included into a JPG or a MP3 for example. For this, as far as my knowledge goes, as new file format needs to be created that incorporates the tag. When this is done, it could also battle piracy.
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    This gotta leak at some point.

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    nada ignorante
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    Quote Originally Posted by Kutman View Post
    This gotta leak at some point.
    Yes, the album will leak like diarrhea one day it cant be avoided...
    N.I.

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    PRODIGAL SUN JZA/Jordon's Avatar
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    Quote Originally Posted by hotnikks View Post
    Yes, the album will leak like diarrhea one day it cant be avoided...
    The second he put the CD into his macbook/usb cd drive I thought: This thing is for sure auto-uploading to iCloud music library right now. lol

    Ringz, So the NFT is the sale/ownership now - does that include the music itself? or just the Token? I'm assuming the music itself is now digitized?

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    VogeltjesDansBende lid Jet Set's Avatar
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    From what I gathered, they are specialized in breaking up NFT's into smaller ones. They did this for Doge(?), flipping something that was one NFT worth $ 500.000,-, into multiple NFT's just worth $ 0,16. Making the original worth $ 4.000.000,-. Following this script one could argue that they could break up the NFT into thousands of smaller ones. Turning a profit. And having private listening parties with everybody involved.

    But correct me if I am wrong. There is a lot of speculation going on right now.
    Wu-Tang: failing the internet tubes since 1997

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    Corny Nuh! Capitalizing Cilvaringz's Avatar
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    Quote Originally Posted by Jet Set View Post
    From what I gathered, they are specialized in breaking up NFT's into smaller ones. They did this for Doge(?), flipping something that was one NFT worth $ 500.000,-, into multiple NFT's just worth $ 0,16. Making the original worth $ 4.000.000,-. Following this script one could argue that they could break up the NFT into thousands of smaller ones. Turning a profit. And having private listening parties with everybody involved.

    But correct me if I am wrong. There is a lot of speculation going on right now.
    The NFT represents the ownership. Normally we’d give a gilded carton certificate as a paper of authenticity. But for the crypto purchase we had a special video made that serves as the ownership deed. Own the video (ownership proven by the blockchain), you own the album.

    What Pleasr did with the Doge meme is buy it for 4 mil (same as OUATIS), then fractionalize 20% of its ownership. Basically allow 20% of ownership of that picture to be broken down in shares and sell those shares to whomever wants to own a piece. In doing that, they sold 49 Million dollars worth of shares in 24 hours. That meant that 100% ownership valued at 250 M. Soon after the success the value of those shares doubled, so then the full piece was suddenly valued at 509M.

    So that was for the Dogememe. Imagine what could happen for OUATIS.

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