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Tuesday, June 01, 2021

MLB entering NFT world with iconic Lou Gehrig moment

To lead off Major League Baseball’s official foray into the world.

“When you think about NFTs, there is this concept of it being a fad,” Kenny Gersh, Major League Baseball’s executive vice president of business development, said in a telephone interview. “What we’re looking to do, with the Candy [Digital] people, is to build a long-term sustainable business. What better person to symbolize durability and long-term success than Lou Gehrig?”

The auction for the one-of-one NFT of the iconic Yankee Gehrig making his legendary “Luckiest Man” speech will occur around July 4, the anniversary of his 1939 farewell to the baseball world upon learning of his ALS diagnosis. The announcement of MLB’s entrance into this world — in conjunction with the announcement of the creation of Candy Digital, a digital collectible company formed by three business titans — comes on the eve of MLB’s first Lou Gehrig Day on Wednesday, when the entire baseball industry will remember those lost to ALS (including Gehrig, of course) and raise awareness and funds to combat it.

 

RoyalsRetro (AG#1F) Posted: June 01, 2021 at 09:59 AM | 20 comment(s) Login to Bookmark
  Tags: lou gehrig, nfts

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   1. Jose Is An Absurd Balladeer Posted: June 01, 2021 at 10:57 AM (#6021785)
So what does this mean? The person who buys it will be able to listen to it whenever (s)he wants and let others listen to it but no one else will? I'm pretty sure that's not feasible. No, I don't understand NFTs at all.

Also, while I get the point the guy who died when he was 37 may not be the best symbol of durability.
   2. Slivers of Maranville descends into chaos (SdeB) Posted: June 01, 2021 at 11:05 AM (#6021786)
No, none of that. You will be given a code saying you own a digital copy of the speech, which will have a code embedded in it that identifies it as the copy you own, but you won't have copyright over other copies or really much that you can do with your copy.
   3. Jose Is An Absurd Balladeer Posted: June 01, 2021 at 11:13 AM (#6021789)
So what the #### are you buying that is going to be worth many of the American dollars?

Nothing makes me feel older than all this NFT/cryptocurrency stuff. It's all just a bridge too far for me.
   4. RoyalsRetro (AG#1F) Posted: June 01, 2021 at 11:17 AM (#6021792)
It's basically a baseball card for moments and art, best I can tell. Like a baseball card, you don't actually own the thing, you just own a card of the thing, but that thing or representation can be traded or sold.
   5. Baldrick Posted: June 01, 2021 at 11:18 AM (#6021793)
The best explanation I've heard is that there's a big status difference between owning an original by Monet and a perfect reproduction. Even if no one can actually tell the difference, the original is still the original and the copy is just a copy.

Of course, this analogy depends on being the sort of person who A) cares about this sort of status difference and B) specifically cares about the type of status that's gained from having a token that declares you to be the only 'real' owner of some bit of digital code.

Edit: Basically, owning an original Monet means you own the physical thing that this genius painted, while owning an NFT means you own some random bit of code that some machine spit out. Which...does not seem very exciting to me.
   6. Jose Is An Absurd Balladeer Posted: June 01, 2021 at 11:25 AM (#6021794)
Baldrick - Thanks, that makes some sense to me. I'm with you, if I had the wherewithal to own a Monet I'd absolutely do it. That's something literally created by a master. A random recording of Gehrig's speech? That doesn't seem meaningful. Now if someone had Gehrig's handwritten notes from that day that would be interesting.
   7. SoSH U at work Posted: June 01, 2021 at 11:33 AM (#6021798)
Today, I consider myself the luckiest owner of some random bit of code on the face of the earth.
   8. Pat Rapper's Delight (as quoted on MLB Network) Posted: June 01, 2021 at 11:51 AM (#6021800)
“When you think about NFTs, there is this concept of it being a fad,” Kenny Gersh, Major League Baseball’s executive vice president of business development, said in a telephone interview.

Yes, and that concept exists for a reason, Kenny.
   9. snapper (history's 42nd greatest monster) Posted: June 01, 2021 at 12:12 PM (#6021806)
The best explanation I've heard is that there's a big status difference between owning an original by Monet and a perfect reproduction. Even if no one can actually tell the difference, the original is still the original and the copy is just a copy.

Except no one has a "perfect copy". If someone could copy it that well, they wouldn't make it an obvious copy, they'd make it some slightly different water lilies. Then you'd own a perfect forgery, which, if no one can ever find out, is absolutely as good as an original.

There are tons of forgeries accepted as "originals" in the art world.
   10. KronicFatigue Posted: June 01, 2021 at 12:21 PM (#6021808)
I didn't RTFA, so I don't know if this was addressed, but NFT's leave a huge carbon footprint because of the electricity required for the encryption something or other.
   11. GregD Posted: June 01, 2021 at 12:38 PM (#6021817)
Yes, and that concept exists for a reason, Kenny.



They’re a collectible. Collectibles can be fads and also can sustain their value over time if other collectors value them. To me this is valueless but I have no clue whether enough people do think they’re valuable to keep the price up
   12. Lassus Posted: June 01, 2021 at 01:09 PM (#6021827)
This NFT shit is the first time in an entire life manic about NOT saying it or ever even THINKING it that I've actually found myself musing FUCKING CHRIST KIDS TODAY/STUPID TECHNOLOGY was appropriate. What a hoard of absolute nonsense.

EDIT: Ha! Coke to my often-seeming internet twin Jose.
   13. Jose Is An Absurd Balladeer Posted: June 01, 2021 at 01:18 PM (#6021831)
I didn't RTFA, so I don't know if this was addressed, but NFT's leave a huge carbon footprint because of the electricity required for the encryption something or other.


I hear this a lot from enough reputable sources and you (cue laugh track) that it seems true. It is just one more element of all of this that Lassus and I don't understand.
   14. ERROR---Jolly Old St. Nick Posted: June 01, 2021 at 01:59 PM (#6021839)
No, none of that. You will be given a code saying you own a digital copy of the speech, which will have a code embedded in it that identifies it as the copy you own, but you won't have copyright over other copies or really much that you can do with your copy.

It'd probably be a lot cheaper just to pay a sculptor to build a 10 ft. high trophy of a woody with your name engraved on it, and call it the Biggest Dick Award.
   15. Starring Bradley Scotchman as RMc Posted: June 01, 2021 at 05:07 PM (#6021869)
“When you think about NFTs, there is this concept of it being a fad,” Kenny Gersh, Major League Baseball’s executive vice president of business development, said in a telephone interview.

Actually, I own all worldwide rights, including NFTs, of that phone conversation.

You're all under arrest.
   16. Walt Davis Posted: June 01, 2021 at 06:04 PM (#6021884)
This is almost an example where I "understand" NFTs.

There is digital art now. There are also cases where say the original master tapes or the original raw "film" of a recording/movie are digital. There is an original and an original of (I dunno) some Christopher Nolan film or some piece of digital video art may have extra value in the same sense that the Monet does. Except in the case of digital art, it is possible to make a perfect forgery. So an NFT can be (or could have been, too late now) embedded in the original so that some rich jackass can own it. Anyway, I can see some need to come up with some form of digital ID to keep endless forgeries of a digital artwork flooding the market. (Whether NFTs and the impact of decoding it are a sensible way to do that I doubt.)

This isn't that -- this is embedding a NFT in a digital copy of the original film. In this case all you're owning is the NFT and that's where my understanding of "why" falls apart completely. This is owning the officialy licensed MLB-certified "we made only one NFT attached to Gehrig's speech ... unless we do it again." It seems even less valuable than a baseball card company selling a one-of-a-kind Tatis card.
   17. Bhaakon Posted: June 01, 2021 at 06:06 PM (#6021885)
My first reaction after reading this was "With all this talk about endurance and durability they must be peddling his games played record. They couldn't possibly be so clueless and morally bankrupt as to monetize his retirement speech."

Alas, my scant thimble-full of faith in humanity has once more proven to be an embarrassing overabundance.
   18. Gonfalon Bubble Posted: June 01, 2021 at 06:18 PM (#6021887)
Hey, Tanglefoot!
   19. Pat Rapper's Delight (as quoted on MLB Network) Posted: June 01, 2021 at 09:20 PM (#6021905)
clueless and morally bankrupt

Hey! It's Rob Manfred!
   20. Cowboy Popup Posted: June 02, 2021 at 10:23 PM (#6022230)
My first reaction after reading this was "With all this talk about endurance and durability they must be peddling his games played record. They couldn't possibly be so clueless and morally bankrupt as to monetize his retirement speech."

To quote 30 Rock, "Oh no, you guys start with that?"

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