People are now willing to spend a lot of money to purchase digital artwork to have exclusive rights.
The mainstay of cryptocurrency is the non-fungible tokens or NFTs. They allow those with a lot of crypto or cash to reinvest in what they call exclusive ownership. This often amounts to little more than a cartoon illustration of an angry ape wearing a top cap or a whale wearing one.
It's not about art, it's about the claims to ownership through blockchain. What are crypto-heads getting by buying an NFT, exactly? It is a difficult question to answer, despite the dubious resale values.
NFT collectors are annoyed that thieves are clicking right-clicking on newly-purchased digital assets, hitting save as, and copying them.
Recently, a Twitter user named SaeedDiCaprio was confronted by an investment.
You think it's funny to take screenshots people's NFTs? According to a screenshot he posted, the rando messaged him via Twitter. You think property theft is funny? The blockchain isn't lying, I assure you. It is mine.
DiCaprio dug deeper.
He wrote in a follow up tweet that I could create a whole NFT collection with screenshots of me clicking, saving the image, and selling it.
This is a hilarious exchange, which shows just how absurd and bizarre the NFT trend is. It is trivial to copy NFT artwork and distribute it elsewhere. The platform that sells the NFTs may not always be able to support claims of rightful ownership.
However, that is not the main point.
It is my property even if you save it. It is mad that you don't own the artwork that I own. That screenshot should be deleted.
Lazy Lions #348 is the artwork that's in question. It belongs to an OpenSea collection and has received bids exceeding $5,000 as of this writing.
Vice reported this week that SaeedDiCaprio's attitude is sometimes referred to as right-clicker mentality in some circles. This term was first used by Midwit Milhouse (NFT creator and collector), who complained that someone was making cheap gold-coated steaks online.
Milhouse claims that it was a home-made version of the steak created by Salt Bae, an internet sensation who was selling the creation at his London restaurant for $2,000
Milhouse tweeted last month that you can make your own steak with gold coating for 65GBP. However, this will not give you the satisfaction and flexibility that comes from eating at Salt Baes.
Milhouse said that the value of a steak is not determined by its cost. Flexibility is what matters.
Right clicker mentality refers to a concept that gets right to the heart of the problem. This term has been used to mock ownership, as it is with NFTs.
Despite all the controversy, tokens continue to sell for a lot of cash. This is also making it easy for other shenanigans. Recently, an NFT developer made off with $2.7 million taken from funds for NFT projects.
NFT collectors are effectively out of luck in such a scenario. NFTs can be traded in a regulatory vacuum, just like cryptocurrencies. It's the Wild West, and buyers should beware.
NFTs are a dazzling display of wealth in the modern age: collectors who own a JPG are trying to make a statement and also show their status by investing their money.
But this doesn't mean that those operating in those circles are being treated well. As long as NFTs continue to be traded, the mockery will continue, whether it is justified or not.
It takes a lot of mental gymnastics to fully embrace the concept value in NFTs. It's no wonder that many people aren't buying it.
READ MORE: What is Right-Clicker Mentality Anyway? [Vice]
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