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Comment by qixxiq | Hacker News Reader

I bought one of his "Into the Ether" NFTs[1] but now I'm in a fairly interesting position. If I prove ownership of the artwork (via a signed message from the address) then Beeple will send the physical artwork to me but it'll immediately lose a high percentage of its value (currently trading at ~$90,000 from $969 original).

Right now it's owned/stored by the artist and someone buying the piece from me would be able to get it delivered directly from Beeple. That's a new level of unboxed where the piece of art is basically unseen at this point in time and can easily be guaranteed original.

[1] https://niftygateway.com/itemdetail/primary/0xd92e44ac213b9e...

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>Right now it's owned/stored by the artist and someone buying the piece from me would be able to get it delivered directly from Beeple. That's a new level of unboxed where the piece of art is basically unseen at this point in time and can easily be guaranteed original.

But doesn't this defeat the goal of NFT? If you are the owner, then if it's stored by the creator or not it's irrelevant, right?

It's just like buying anything from an artist, save the receipt and ask him to store it from you, the difference is that storage of a, let's say painting, requires more space and controlled humidity/temp.

> But doesn't this defeat the goal of NFT? If you are the owner, then if it's stored by the creator or not it's irrelevant, right?

Assuming the creator is trustworthy, then I don't think so. Isn't this common in the art world? I thought lots of expensive art is stored in expensive secured vaults. Or maybe I'm thinking of the film Tenet (I don't actually know anything about the art world).

>lots of expensive art is stored in expensive secured vaults

in tariff/tax free zones between jurisdictions, in a kind of customs limbo - exported from one jurisdiction, yet not imported into another (and thus no need to pay taxes/tariffs). The bill of sale is basically your NFT.

What “physical” art? Doesn’t he do digital art? Anyone can just make more prints.

If you read the article it says that Beeple is sending winners of auction items with a physical titanium framed lcd screen, complete with a serial number and QR code linking to the ownership registrar, showcasing the artwork they now own.

Is the value of the art in the titanium lcd or in the pixels themselves?

Out of curiosity, when did you buy the artwork? $969 -> ~$90,000 is astounding, and I'm assuming it happened within a short time frame.

Was released early December, was pretty confident about it-- probably should have bought more than one ;)

It depends - what number edition are you holding - or if you don't want to be specific what 10 digit range?

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