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 Post subject: Lee Sedol sells NFT
Post #1 Posted: Tue May 18, 2021 4:50 am 
Honinbo

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I don't know much about NFTs, but I stumbled across this article: https://decrypt.co/71219/nft-of-go-play ... for-210000

I guess Lee Sedol sold game 4 of the AlphaGo match as an NFT - whatever that means.

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 Post subject: Re: Lee Sedol sells NFT
Post #2 Posted: Tue May 18, 2021 8:44 pm 
Judan

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Kirby, it's like your son drew a picture of Lee Sedol's game 4, and you sold a receipt for it for mega virtual bucks (you can keep the picture framed on your mantelpiece).


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 Post subject: Re: Lee Sedol sells NFT
Post #3 Posted: Wed May 19, 2021 12:29 am 
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I've seen this explanation, fwiw :D

Image


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 Post subject: Re: Lee Sedol sells NFT
Post #4 Posted: Wed May 19, 2021 4:51 am 
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Hardly a new idea. They sold indulgences in medieval times, and by a very strange coincidence the Latin the word fungible comes from is medieval Latin (fungi - to enjoy), not classical Latin.

It's also not much different from a church or museum displaying an alleged relic such a finger bone or a lock of hair and charging money to view it. Still, while many saints seem to have had had more than the average number of fingers, I'd say the average saint probably did rather more for mankind than Yi Se-tol.

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 Post subject: Re: Lee Sedol sells NFT
Post #5 Posted: Wed May 19, 2021 6:07 am 
Honinbo

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John Fairbairn wrote:
Still, while many saints seem to have had had more than the average number of fingers, I'd say the average saint probably did rather more for mankind than Yi Se-tol.


Yes, a number of religious figures have had impacts on mankind, of which, some may appreciate more than go. Nice observation!

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 Post subject: Re: Lee Sedol sells NFT
Post #6 Posted: Wed May 19, 2021 11:30 am 
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Shenoute wrote:
I've seen this explanation, fwiw :D

Image


I think this characterization is a little too optimistic because the broom closet with the handmade label may be closed or lost at any time, or the museum may close. So any record of what was supposedly purchased may be lost. Furthermore, it is only the museum itself that keeps the records indicating the person having the signature on the purchaser's receipt. And even then, this is only really verifiable if the person Tweets about the museum sale from their verified Twitter. There is nothing to prevent someone from creating an NFT for the exact same time beyond a verified Twitter account. And if Twitter verification is the crux of an NFT's value, then what is the point of using NFTs for the sale?

So then, did Lee Sedol actually sell an NFT of game 4 or did someone else pretending to be Lee Sedol make $210,000?
EDIT: $161,008 and going down by the hour recently.

Did Lee Sedol actually post about the sale himself from some verified account?

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 Post subject: Re: Lee Sedol sells NFT
Post #7 Posted: Wed May 19, 2021 5:41 pm 
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It looks like a signed kifu of the game being sold. Or maybe a note with Lee Sedol's signature indicating that the buyer owns a particular kifu that also has Lee Sedol's signature. The kifu can be copied but not the signing.

The purchaser probably believes the price of Eutherium would go down and the NFT could be sold later at a higher price. Lee likely thinks otherwise.

At least that's what I'm thinking here.

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