YouTube: https://youtu.be/esC7TdJ_oN0
Recorded live AI Salon / AI 101 session on AI topics.
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Pete Kaminski discussed the advantages of decentralization through open-source blockchain technology. He shared his experiences with a project that used this technology to rebuild infrastructure and suggested the possibility of sharing not just profits, but also governance and ownership in future projects. Pete also touched upon the evolution and history of a self-governed community named Teia, which aims to bring people together to learn and improve their storytelling and art skills. Additionally, he discussed the concept of non-fungible tokens (NFTs), explaining that they are a way to store digital images on a blockchain, and their potential use in a commercial setting.
Decentralization, Open-Source, and DAOs: A Discussion With Pete Kaminski
Pete Kaminski discussed the benefits of open-source decentralization and shared his experiences with a project where the community was able to rebuild the infrastructure using open-source code and blockchain technology after the founder left. He suggested the possibility of sharing not just profits, but also governance and ownership in future projects. Pete also discussed the evolution and history of a community named Teia, which is self-governed and aims to bring people together to learn and improve their storytelling and art skills. Lastly, he talked about a newsletter similar to one he publishes, but with a more commercial focus, and the concept of decentralized autonomous organizations (DAOs). He also touched on the idea of "minting," which refers to selling or publishing art pieces.
NFTs, Art, and Technical Challenges
Pete Kaminski discussed the concept of non-fungible tokens (NFTs), explaining that they are a way to store digital images on a blockchain. He mentioned his own experimentation with NFTs, creating digital art pieces and assigning value to them. Pete also discussed the potential for NFTs to be used in a commercial setting and the use of different marketplaces for NFTs. However, he experienced some technical difficulties during the meeting. The conversation then shifted to the topic of mid journey and prompting, and the creation of a folder containing information on how to access marketplaces. Pete also mentioned an art gallery style initiative and the potential for revising it. The discussion then moved to NFTs again, with Pete expressing interest in working on NFT markets but expressing concern about their niche appeal.
Tax Implications of Digital Assets: NFTs as Art Pieces
R J and Pete Kaminski discussed the tax implications of digital assets, particularly non-fungible tokens (NFTs). Pete suggested that NFTs should be treated like art pieces for tax purposes, and highlighted the interest of tax agencies in NFTs and digital currency. He advised individuals to consult their accountants regarding tax matters related to NFTs. Pete also mentioned the potential for upscaling NFTs using tools like Topaz and noted that the IRS requires reporting of income from NFTs, despite a high threshold for reporting. Towards the end of the meeting, Pete suggested that Laurie, Clare, and Scott might be interested in the topic.
AI and NFTs: Potential and Technicalities
Pete and Scott discussed the potential of AI and NFTs, with Scott sharing his experiences and Pete expressing interest. They explored technical details of NFTs, such as size and resolution, and Pete suggested introducing AI-generated NFTs to the Aslan community. Pete also discussed his own artwork and the potential of NFTs as admission tickets for events or galleries. He concluded by considering the enhancement of art available on the object or Tea marketplace, suggesting the involvement of more people to boost quality, and decided against incorporating AI art to avoid confusion.
NFTs: Creating, Selling, and Royalties Explained
Pete Kaminski discussed the process of creating and selling non-fungible tokens (NFTs), emphasizing the importance of setting the right price and number of editions. He explained how royalties work, with the original artist receiving a percentage of the sale price each time their work is resold. Pete also mentioned the possibility of selling signed editions and discussed the use of different currencies, with Scott Arndt mentioning a wallet called "Temple". He also shared insights on the functionality of a wallet, likening it to a bank account, and the process of buying and selling AI art on NFT marketplaces. Pete also noted that the wallet is made by a third party, specifically mentioning Kukai. He also explained the workings of a blockchain, emphasizing that it functions as a secure ledger for all transactions and that the balances within the wallet are stored in the cloud blockchain.
Kuki's Software Swap and Object Sale Plan
Pete Kaminski discussed his plan to sell three software items from his company, Kuki, using a process called swap, where a 2.5% commission fee would be taken from the sale. He demonstrated the process of logging into a wallet and confirmed a transaction, emphasizing that the software would also be listed for sale on 'object' and the use of a password keeper for convenience. Pete also discussed the challenges and considerations for companies dealing with objects, particularly those that handle money or artifacts. He emphasized the need to comply with laws related to anti-money laundering and know-your-customer regulations. Towards the end, he decided to put something up for sale on his marketplace and encouraged discussions on his servers. He also mentioned the possibility of putting AI art for sale and setting up more AI sessions on this topic. Scott Arndt asked about the automatic linking to Object, which Pete confirmed as a separate platform for buying.
NFTs in Art: Motivations and Potential
Pete Kaminski discussed the potential of non-fungible tokens (NFTs) in the art world. He explained the different motivations for buying an NFT, such as collecting, social engagement with the artist, and preserving artwork. Pete also mentioned that artists often use NFTs as a way to track their sales and connect with collectors. He further discussed the idea of using NFTs as a way to bootstrap a fanbase, with the potential to offer exclusive pieces to dedicated followers.
NFT Marketplace: Perception vs Reality
Pete Kaminski expressed regret over the negative perception surrounding the NFT marketplace, emphasizing the usefulness of the underlying technology. Scott Arndt shared his personal experiences and reasons for buying NFTs, including supporting artists and acquiring commercial rights. Ross Parrent raised questions about the value and advantage of owning an NFT, with a focus on its commercial purpose. Dr. Dr. Claire Jacobs expressed her gratitude at the end of the discussion.