[HN Gopher] Fred Wilson: Swapping NFT's (startup idea)
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Fred Wilson: Swapping NFT's (startup idea)
Author : rmason
Score : 14 points
Date : 2021-11-22 18:57 UTC (4 hours ago)
(HTM) web link (avc.com)
(TXT) w3m dump (avc.com)
| Imnimo wrote:
| Imagine throwing money away on gas fees just to shuffle around
| ledger pointers between jpegs.
| rolstenhouse wrote:
| https://www.genie.xyz/
| himlion wrote:
| There already exist many services for this:
| https://sudoswap.xyz/#/ https://nfttrader.io
| https://swap.kiwi/your-nfts
|
| I don't understand how the author didn't run into these.
| TechBro8615 wrote:
| Kind of alarming and a little embarrassing considering the
| author is a partner in a VC firm heavily invested in
| blockchain.
| bob331 wrote:
| because he is a moron, evidenced by the fact that he is
| involved in crypto
| balls187 wrote:
| nfttrador.io cost 0.005 Eth + gas for a trade.
|
| As a crypto laymen, is it fair to convert the Eth to USD
| (~$20), or is that not correct, as traders would have a supply
| of Eth already, which they would pull from, and not need to
| purchase.
| himlion wrote:
| Yes it indeed costs that. Actually doing anything on the
| ethereum network has been very expensive the last few
| weeks/months unfortunately.
| remram wrote:
| I'm going to start calling ETH non-fungible (it is fungible
| but you can't afford to)
| flignats wrote:
| genie.xyz has nft swaps, not exactly like you've outlined but in
| the right direction.
| Animats wrote:
| Some NFTs have a smart contract which takes a cut for the
| originator on ownership transfer. To get around that problem,
| those NFTs need to be owned by another smart contract without
| that feature, so they can be freely traded. So far, nobody seems
| to have done that.
| counternotions wrote:
| Another cool variation on this would be the ability to swap NFTs
| for stakes in DAOs with the potential to acquire other NFTs.
| throwaway423342 wrote:
| swap your ass
| dang wrote:
| Please don't do this here.
| iskander wrote:
| Another cool startup idea would be a search engine for websites,
| where you type in keywords or phrases and the search engine
| returns relevant sites. I really hope someone implements this.
| 1cvmask wrote:
| I assume there would be tax issues and liabilities for these
| swaps if it was done through and exchange or broker. So maybe
| just better to hold or hodl as they say.
| bhouston wrote:
| 100%, swapping assets, e.g. bartering, does not remove any tax
| liabilities on the gains received. But Fred is a smart guy and
| must know that.
|
| Maybe the idea is that swapping NFTs may theoretically allow
| one to avoid a valuation event, thus avoid any tax liabilities?
| That is the key idea behind this?
|
| FYI: https://sharonperry.ca/blog/why-barter-transactions-are-
| taxa...
| [deleted]
| hermes8329 wrote:
| So trading pogs?
| pg_bot wrote:
| I don't understand why anyone gives a shit about NFTs. It is just
| the absolute biggest waste of time and resources that I can
| possibly think of.
| dang wrote:
| Ok, but please don't post generic/unsubstantive comments to HN,
| especially not generic/indignant ones.
|
| https://news.ycombinator.com/newsguidelines.html
| cam0 wrote:
| They give people the feeling of being "cool, rich, smart, part
| of an exclusive club" with the click of a button while they sit
| on their couch doing nothing of importance.
| twiceaday wrote:
| Yes, this space which could not have been invented to better
| harbor get rich quick schemes, tax evasion, money laundering,
| and high volatility speculation during the biggest bull
| market ever -- a space which quickly converts attention into
| dollars in the age of social media influencers -- is
| definitely mostly popular because of the revolutionary tech,
| and "im cool im part of something" motivations. Definitely.
| yokoprime wrote:
| Agreed, it's a waste of resources and capital which could be
| invested in something that have real value, I.e you have a real
| stake in a company, property etc, not ownership of a URL which
| will rot.
| silasdavis wrote:
| Here's ours: https://app.aspenft.io/
| Animats wrote:
| Oh, that's funny. Look at their order book.[1] All items have
| zero bids. Is there a list of completed transactions?
|
| I said this was going to be like Beanie Babies on eBay, and I
| was right. Long lists of items for sale at high asking prices
| with zero bids. eBay lets you look at the completed
| transactions, where you see prices maybe 1% of the asking
| prices.
|
| The supply of greater fools with money is limited.
|
| [1] https://app.aspenft.io/orderbook
| pacifika wrote:
| Bubble is here
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