did everything, bought the beanie baby, no stream available in my account hours later
lol
they got me straight, missed the first set. apparently the “crossmint” wallet isnt automatically connectng to umphreys.xyz, i had to manually send the beanie baby to a new wallet address
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Legit question:
What?
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What in the fuck is happening in here?
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Umphrey’s Beanie Baby or something
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^
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Most NFTs have been speculation/land grabs, and the vast majority will go to zero. But the underlying technology is here to stay. Call them by whatever name but they’ll be ubiquitous in 3-5 years. You might be asking, ubiquitous for what? You name it. Concert tickets, the title to your house, memberships to anything, your mortgage etc. A token is simply a verifiable digital asset. In an increasingly blended world of IRL & online, proof of ownership in a secure, verifiable way will be paramount. The ability to engage & reward using blockchain will be a game changer.
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i fully expect this will be worthless. was jsut my way of getting a stream for $5
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Next two nights are free to Nugs subscribers.
Magnets. Next question.
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the umphreys.xyz thing has worked in a few different ways since they started it.
Originally when it launched, they sold NFTs (think: “internet trading cards of show ticket stubs”) for their winter tour. You got two things in exchange for $40 worth of Ethereum (one of the only two non-bullshit “crypto” projects in existence"):
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You got the digital trading card itself. Is that objectively worth $40? Hell no. Could it be worth $40 to someone who went to their first show or the best show of their life or whatever? Possibly?
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More importantly, you got access to real time FoH stream of the show. Okay, great. This has real value and, what’s more, the value can be derived by comparing the cost of this stream to the cost of other streams available on the market.
During winter tour (the apparent test phase of this program), they allowed anyone who bought ANY single night’s NFT to access to ALL FoH streams for the winter tour. Okay, so now we’re talking a dozen live show streams for $40. Getting pretty worthwhile all of a sudden…
THEN, when tour shifted from that east coast run up to the midwest in Feb, they changed the business model. A single show NFT cost $20 now but it only got you access to that night’s stream. Lame. Or at lest much lamer than the deal for the previous leg of ter.
Now spring tour has launched and they’ve changed the game plan again. Current deal is:
- $5 per show
- You get live (real time) audio of that show
- You have access to the audio for that show in perpetuity
- You still get the ticket stub “trading card” aspect
- They’re promising something “special” for folks who collect the whole run of ticket stubs
- For those who are crypto nerds, they’re doing this run on Polygon, an Ethereum L2.
My personal opinions:
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99.99% of all NFTs are aboslute dogshit and shouldn’t be touched with a 10 foot pole. If you’re deeply into them for esoteric reaosns, great. But don’t think for a minute that it’s a smart financial decision to acquire an NFT because of asset appreciation.
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99.99% of all “crypto” is absoulte dogshit and shouldn’t be touched with a 10 foot pole. If it’s not Bitcoin (BTC) or Ethereum (ETH), you’re gonna have a bad time (cue South Park skiing clip). And even if it is Bitcoin or Ethereum that you’re holding but it’s not the proper fit for your financial situation (investing vs. trading / short term vs long term / risk tolerance mismatch), you’re going to have a bad time.
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The above notwithstanding, there do exist legit use cases for NFTs
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The businesses/bands using them need to be well educated about how to deploy this tech and, in particular, do so in ways that don’t alienate their customers/fans.
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The businesses/bands need to use the tech beause it actually adds value for their customers/fans in ways that using trad-tech wouldn’t. Don’t do it just because it’s cool or new. (And yes, I think there ARE ways that NFTs will be used where it wouldn’t be possible to have done so with trad tech - @Random_Ass touched on this in the post above).
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I aint buying another umphreys NFT unless I can get 10 video streams for $40. And then sure, bring it on - it’s great to have on in the background while I’m nursing a baby.
/endrant
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IIRC the live streams were not part of the original rollout. At first it was just the token and access to the soundboard after the fact. Then they started sporadically offering the live video stream.
You might be right. I can’t recall. I think I jumped in just after the 25th anniversary show because of video stream. So perhaps before that was indeed just audio.