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The Aesthetes Airdrop - Deadline is 21st October


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@Stedas hasn't posted this yet so I will take the liberty, I hope he doesn't mind. I wanted to talk about this. First the infographic, beautiful as ever:

FB7FpSzWYAcCIfy?format=jpg&name=large

I'm not sure why, but of all the coming airdrops I like this one the most. Maybe it's the marketing, maybe it's because I can immediately understand what they are going for. I like the idea of being able to purchase a part of a work. This is an obvious application of tokenisation and can be extended to all high value investments like property. I also like the emphasis on the physical aspect. I must admit, as bullish as I am on crypto, as openminded as I am, I see people spending six figures on a basic digital painting of a lion with sunglasses and I am like: wtf? I think the digital art aspect of NFTs may well fizzle out over time (or the basic standards will increase) and tokenisation will focus increasingly on physical objects. At the moment people can't really get behind the idea of paying loads of money for a JPEG that someone can just screenshot, and I think it might take a while before this becomes commonplace. But everyone understands owning a physical object. If there was an NFT representing ownership of Michelangelo's David, and it was verified and real and official and everything, you could sell that thing for 10 billion dollars and everyone would intuitively understand it. I also like the egalitarian nature of the drop: everyone gets the same amount, and over 51% of the supply is being dropped. 

Having said that, can anyone think of a good reason NOT to set up the trustline for this drop?

 

 

Edited by Seoulite
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28 minutes ago, PunishmentOfLuxury said:

Every XRPL wallet will receive the same number of ELS regardless of XRP balance. So you just need to get the Xumm app and send about 15 XRP to it, then set the trustline.

Sorry mate any link to how to do this? Pretty sure I saw one somewhere on xrpchat. This would cover all airdrops, right?

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10 hours ago, Seoulite said:

@Stedas hasn't posted this yet so I will take the liberty, I hope he doesn't mind. I wanted to talk about this. First the infographic, beautiful as ever:

FB7FpSzWYAcCIfy?format=jpg&name=large

I'm not sure why, but of all the coming airdrops I like this one the most. Maybe it's the marketing, maybe it's because I can immediately understand what they are going for. I like the idea of being able to purchase a part of a work. This is an obvious application of tokenisation and can be extended to all high value investments like property. I also like the emphasis on the physical aspect. I must admit, as bullish as I am on crypto, as openminded as I am, I see people spending six figures on a basic digital painting of a lion with sunglasses and I am like: wtf? I think the digital art aspect of NFTs may well fizzle out over time (or the basic standards will increase) and tokenisation will focus increasingly on physical objects. At the moment people can't really get behind the idea of paying loads of money for a JPEG that someone can just screenshot, and I think it might take a while before this becomes commonplace. But everyone understands owning a physical object. If there was an NFT representing ownership of Michelangelo's David, and it was verified and real and official and everything, you could sell that thing for 10 billion dollars and everyone would intuitively understand it. I also like the egalitarian nature of the drop: everyone gets the same amount, and over 51% of the supply is being dropped. 

Having said that, can anyone think of a good reason NOT to set up the trustline for this drop?

 

 

Thanks for the reminder. This airdrop seems a bit odd to me though. Are there any risks associated with setting up a trustline?

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Just now, xrp_sea said:

Thanks for the reminder. This airdrop seems a bit odd to me though. Are there any risks associated with setting up a trustline?

There used to be before ‘rippling’ was default set to ‘no’ a few years ago.

I haven’t heard of any risks since then though.

By default I think most wallets and software will have rippling turned off.  Xumm defaults to no rippling which is the safe setting.

I could be wrong but I think these days you actually have to set it to on deliberately if you want to allow rippling.

(the risk was that same named tokens could be exchanged in your wallet automatically by rippling leaving you with same name but worthless ones.  That can’t happen if you don’t turn it on though)

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9 minutes ago, tulo said:

To me it's bullsh*t that every account receives the same amount of ELS. Because a single person can create an unlimited amount of accounts (locking some XRP) to exploit the airdrop.

My thoughts exactly. This seems open to exploitation. Although there would be some risks involved with doing so. You’d have to lock up XRP for every trustline for something that could end up being worthless.

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22 minutes ago, tulo said:

To me it's bullsh*t that every account receives the same amount of ELS. Because a single person can create an unlimited amount of accounts (locking some XRP) to exploit the airdrop.

Indeed, this makes no sense. For this reason I won't participate.

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3 hours ago, tulo said:

To me it's bullsh*t that every account receives the same amount of ELS. Because a single person can create an unlimited amount of accounts (locking some XRP) to exploit the airdrop.

Unlimited?! Not exactly. 10 XRP reserve per account. So if the airdrop is valued at less than 10 XRP, it's probably not worth it. And even if it's the same or slightly more, probably not worth the time and risk etc. 

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