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How Much Real Money Can You Make From Virtual Art?

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Late on a Friday final spring, Izzy Pollak determined to purchase two Bored Ape NFTs — which, as a reminder for the many individuals pondering, Yeah, however I nonetheless don’t know what an NFT is — means he purchased distinctive, digital photos (on this case, of apes).

Because the proprietor of a Bored Ape, he now has business rights over the digital picture to do with as he needs. Many individuals select to show their NFTs as their profile image on social media accounts.

(And when you’re questioning how possession of a digital asset might be confirmed: Each NFT, or non-fungible token, has a definite serial quantity, and the transaction historical past of every NFT is saved on the blockchain, so folks can see who the actual proprietor is.)

Mr. Pollak, 29, who purchased three extra a number of months later, obtained these from a set of 10,000 NFTs often known as the Bored Ape Yacht Membership. A few of the apes are sporting gold jackets or animal-print tunics. Others are smoking cigars or smiling extensively.

On the time, Mr. Pollak, who works for Genies, a tech start-up in Los Angeles that makes NFTs and avatars, didn’t have plenty of disposable revenue. “I used to be residing in a four-bedroom townhouse with three different folks,” he mentioned. “All of us shared a rest room. It felt like faculty life.”

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He didn’t come from cash, both. Through the 2008 monetary disaster, Mr. Pollak mentioned, when he was 16, his mom couldn’t pay the mortgage, so he and his household needed to lease an condominium.

Mr. Pollak’s curiosity in NFTs was spurred by listening to folks discuss them on Clubhouse. “I used to be like, ‘Oh my God, that is insane. I’m about to spend a whole lot of {dollars} on an image of a monkey,’” he mentioned.

Seems it was a clever determination. Final fall, a number of months after he had purchased his first NFTs, Mr. Pollak’s apes skyrocketed in worth. He bought one which he had purchased for roughly 14 Ether (a digital foreign money that was value about $40,000 on the day of the acquisition) for round 70 Ether (roughly $231,000 on the day of sale).

He used the cash for a down fee on a three-bedroom home in Los Angeles with a yard. “We name it the Chimp Chalet,” he mentioned, laughing. “I all the time needed to personal a home however by no means thought I may make it work.”

He now has three Bored Ape NFTs in his portfolio. He hasn’t bought them but, however he’ll in the future. For the primary time in his life he feels financially well-off.

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A lucky handful of individuals now have their very personal rags-to-riches tales due to NFTs. By investing in the proper challenge on the proper time, some collectors and digital artists have made “life-changing cash,” mentioned Matt Medved, a founding father of Nft Now, a digital media publication about NFTs. Some are utilizing the funds to repay scholar loans, purchase a house or stop jobs they hated. (Some folks, in fact, are additionally shopping for yachts or throwing lavish events.)

“NFTs are like manna from heaven,” mentioned Mr. Pollak, who additionally acknowledges how fortunate he’s. “I’ve heard horror tales of individuals spending their lease cash on NFTs. It’s heartbreaking to see folks threat their cash when it doesn’t often work out.”

Most individuals who make or purchase NFTs by no means flip a revenue. There isn’t any regulation or client safety, and buying and selling them is mainly as dangerous as playing. Investing in cryptocurrency is excessive threat and includes plenty of technical know-how and luck; few monetary professionals would suggest it, and scams are aplenty.

Mr. Medved encourages folks to think about NFTs like baseball playing cards. “For generations our society has accepted that uncommon baseball playing cards have worth,” he mentioned. “There’s a uncommon Mickey Mantle card that in all probability prices 5 cents to make that bought for $5.2 million final 12 months. And why? It’s not in regards to the bodily piece of card inventory. It’s the historical past, the rarity, the shortage, the cultural relevance.”

“It comes all the way down to fandom,” he added.

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Equally, what many NFT artists create or collectors spend money on will probably be value little or nothing in the long run. However there are a number of NFTs which have turn into very helpful and have earned their homeowners and creators an enormous sum of cash in a brief time period.

The Bored Apes that Mr. Pollak purchased, for instance, might be minted — i.e. go to market — at .08 Ether ($200 final spring). Now, lower than a 12 months later, the most cost effective one is value about 73 Ether (about $190,000). (Ether might be transformed to money on main cryptocurrency platforms like Coinbase and Gemini after which transferred to a checking account.)

Claire Silver, an artist in her early 30s who works with synthetic intelligence, is one other NFT success story. In 2017, she was given three CryptoPunks, a set of 10,000 distinctive pixel artwork characters generated from an algorithm, by somebody she met on Slack.

“I used to be in a chat room about cryptocurrency, and I met this man who was thinking about artwork,” mentioned Ms. Silver, who lives a nomadic way of life however most lately lived in Denver. He advised her he had 730 CryptoPunks, she mentioned, “and requested if I needed three. I mentioned, ‘Positive.’”

In 2017, collectors may declare CryptoPunks free of charge so long as that they had an Etherum pockets. Now the most cost effective one is promoting for round 68 Ether (nearly $175,000).

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She held on to hers till 2020 when she heard rumblings that they had been promoting for some huge cash. She bought one in July 2021 for about $60,000 and nonetheless has two others. (Many are promoting for six figures. One bought final month for nearly $600,000.)

Ms. Silver additionally makes her personal NFTs. She, like all NFT artists, earns cash from the unique sale and should obtain 10 p.c of each secondary sale. One in every of her items bought for 15 Ether ($63,000 on the time).

She has saved a lot that she lastly feels financially safe, no less than for now. “This amount of cash is an enormous deal to me as a result of I come from poverty. We needed to settle for church donations for meals rising up,” she mentioned. “The opposite day I walked into Walmart and was like, ‘I can purchase the cheese, I can purchase the nice espresso.’ I had by no means skilled that freedom earlier than.”

She lately returned from a visit to Britain, the place Sotheby’s was auctioning her work, and has a visit deliberate to Japan.

This month she is even giving her mom a home, which she paid for in all money. “I received a type of huge crimson bows, and I’m going to stay it on the entrance door like in these commercials,” she mentioned. “I’ve been desirous to do one thing like this for my mother since I used to be a bit of child.”

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Solely two years in the past Alex Lugo, 29, who lives in Lindenhurst, N.Y., drove vans to assist his spouse and two youngsters, 9 and 5. “I used to be making $25 an hour,” he mentioned. “That’s nothing in New York.” He determined to enroll in a program to discover ways to commerce in cryptocurrency, and it modified his household’s life.

Whereas some collectors purchase choose NFTs and maintain on to them for years, he flips many within the quick time period. “I ended up shopping for them and flipping a few of them for 10K, some for 30K, some for 5K, 2K,” he mentioned.

He has additionally benefited from investing in newer forms of NFTs. “I personal actual property within the Metaverse subsequent to the Adidas headquarters,” he mentioned. “It’s like proudly owning actual property within the Hamptons, as a result of what’s Adidas going to do after they wish to develop? They will purchase me out and pay me hundreds of thousands of {dollars} so I’ll transfer.”

(“This sounds speculative fairly than something that might be simply confirmed,” Mr. Medved mentioned in an electronic mail.)

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Mr. Lugo made sufficient cash from these particular person gross sales that he stop his truck driving job in January 2021. Now, he says he has been in a position to tuck away a big quantity of financial savings for his youngsters, who will “have the liberty to decide on what they wish to do with their lives.”

He and his household presently stay in a two-bedroom condominium, however he’s seeking to purchase a four-bedroom home in Lindenhurst.

NFTs have helped others dig themselves out of monetary holes and get a brand new begin.

Gossamer Farris, 32, is now a full-time artist in Brooklyn. Nevertheless it took NFTs to get her there comfortably.

After faculty she labored a 9 to five job at a scholar mortgage servicing middle. “I used to be doing artwork as a lot as I may after work,” she mentioned. “I used to be making illustrations and sculptures and textile work, and I used to be additionally making gadgets like little stickers that folks may purchase in my on-line retailer.”

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In 2019, she stop that job to turn into a tattoo artist, however even that was a wrestle, particularly within the early months of the pandemic. “I had a tough time making ends meet,” she mentioned. “Sadly I had plenty of debt like bank card debt and health-related debt as a result of I’m a transgender individual and had surgical procedure.”

Within the winter of 2021 she noticed folks had been going loopy for NFTs, and he or she determined to attempt to make her personal collections, with work that focuses on her Filipino and Black heritage, and collaborate with different artists on their NFTs.

She has since paid off her debt, and now makes sufficient cash by means of NFTs that she will pursue her passions completely. “I don’t have the stress that I have to earn money as an artist,” she mentioned. “I will pay the lease and never have to fret about making ends meet.”

Whereas some persons are getting wealthy off NFTs, Mr. Medved advises folks to do not forget that many different NFT tasks lose worth over time. “You need to by no means make investments any extra money than you’re keen to lose,” he mentioned. “The NFT house, just like the crypto house, could be very risky, and the markets go up and down in a short time.”

“I do suppose plenty of NFTs will find yourself going to zero in the long term,” he mentioned. “Your success is determined by your means to select one of the best tasks, and that isn’t straightforward.”

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The debate over “LatinX” and how words get adopted — or not

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The debate over “LatinX” and how words get adopted — or not


Word Wars: Wokeism and the Battle Over Language – John McWhorter
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Part 2 of the TED Radio Hour episode The History Behind Three Words

New terms — like LatinX — are often pushed by activists to promote a more equitable world. But linguist John McWhorter says trying to enforce new words to speed up social change tends to backfire.

About John McWhorter

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John McWhorter is an associate professor in the Slavic Department at Columbia University. He is the host of the podcast Lexicon Valley and New York Times columnist.

McWhorter has written more than twenty books including The Power of Babel: A Natural History of Language, Words on the Move: Why English Won’t – and Can’t – Sit Still (Like, Literally) and Nine Nasty Words. He earned his B.A. from Rutgers, his M.A. from New York University, and his Ph.D. in linguistics from Stanford.

This segment of the TED Radio Hour was produced by James Delahoussaye and edited by Sanaz Meshkinpour. You can follow us on Facebook @TEDRadioHour and email us at TEDRadioHour@npr.org.

Web Resources

Related TED Bio: John McWhorter

Related TED Talk: 4 reasons to learn a new language

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Related TED Talk: Txtng is killing language. JK!!!

Related NPR Links

Latinx Is A Term Many Still Can’t Embrace

Why the trope of the ‘outside agitator’ persists

Next U.S. census will have new boxes for ‘Middle Eastern or North African,’ ‘Latino’

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Modern death cafes are very much alive in L.A. Inside the radical movement

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Modern death cafes are very much alive in L.A. Inside the radical movement

In a second-story room in Los Feliz’s Philosophical Research Society, about a dozen people sit in a circle. Many of them are here for the first time and not entirely sure what to expect. The sandwich board sign in the courtyard below offers only a cryptic hint: “Welcome! Death cafe meeting upstairs.”

As the group settles in on this Thursday afternoon in May, organizer Elizabeth Gill Lui lays out the only two directives: “have tea and cake, and talk about death.”

Lui, a 73-year-old artist who wears chunky jewelry and bold glasses, starts by reading a passage from the musician Nick Cave’s recent memoir. It’s about how, in the face of staggering grief, speaking and listening can be a form of healing — which is ultimately what Lui hopes will transpire over the next couple of hours, in this room decorated with patterned carpets and tall bookcases.

“The tradition in Southern California has long been about the journey. Making the most of the journey creatively, playfully, intellectually. That’s what I also like about the death cafe.”

— Elizabeth Lui, artist and organizer of a twice-monthly death cafe at the Philosophical Research Society

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To initiate the exchange, she instructs the group to “go around in a circle and say what brought you to death cafe.” It’s a simple enough question, but one that elicits complex, deeply personal responses. Some attendees say they’ve come because they’re struggling with how to care for aging parents, or because they lost a loved one during the pandemic. Others have recently been through a life transition — a move back home, a college graduation, recovery from an illness. Or they’re wrestling with anxieties about their mortality. No matter the reason, everyone seems to be seeking some form of comfort, connection and community.

Reading material suggested by Elizabeth Lui, who hosted a death cafe at the Philosophical Research Society.

“The tradition in Southern California has long been about the journey. Making the most of the journey creatively, playfully, intellectually,” Lui tells me in the Philosophical Research Society’s regal library. “That’s what I also like about the death cafe. It has this edge of humor to it. If you’re at a dinner party and it’s boring, you can just say, ‘Have I told you about the death cafe I go to?’ and everybody just laughs. It’s such a great entree to the conversation.”

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Lui’s twice-monthly gathering is one of several death cafes that have sprung up over the past two years in Los Angeles. Heavy Manners Library, an art space and lending library specializing in independent books and zines, holds one every other month. Its organizer, Emily Yacina, has made a habit of bringing donuts for the mostly 20- and-30-something tattooed crowd. Artist Ailene deVries held a death cafe in April at Gorky, an Eastside feminist collective that hosts workshops and pop-up events. North Figueroa Bookshop in Highland Park announced its first death cafe last summer, led by death doula Hazel Angell. A collaged flier for the meeting showed a skeleton hand clutching a butterfly above a succinct description written in gothic font: “A group discussion of death with no agenda, objectives or themes.”

The agenda-less ethos of the death cafe was developed in 2011 by Jon Underwood. The then 38-year-old Buddhist student and former government worker is widely credited for hosting the first modern death cafe at his home in East London. He was inspired to organize it after reading about Swiss “cafe mortels,” gatherings designed by the late sociologist Bernard Crettaz in 2004 to break the stigma around talking about death.

Underwood died unexpectedly in 2017 due to complications from leukemia, but the movement he kickstarted remains very much alive. A website maintained by Underwood’s mother and sister includes a how-to guide for those looking to start their own death cafe, and a directory that lists more than 18,000 death cafes around the world.

Greg Golden, 73, center, shares his experience beside fellow death cafe participants.

Greg Golden, 73, center, shares his experience beside fellow death cafe participants Danielle Tyas, 23, left, and Haley Twist, 32, right, at the Philosophical Research Society.

Megan Mooney, a clinical and medical social worker who serves as a volunteer spokesperson for Underwood’s umbrella organization, says she’s seen an increase in death cafe listings since 2020.

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“COVID really made people have to face their own mortality,” she said in a Facebook message. “There was no escaping it …There was a huge demand for people wanting to talk about death for the first time.”

That was certainly true for Lui, who says the “pervasiveness of death” during the first couple years of the pandemic led her to get certified as an end-of-life doula in March 2022.

“I really was alarmed by the fact that we couldn’t form a consensus on how to deal with the pandemic and deal with the widespread phenomenon of this many deaths,” she said. “I don’t think the seriousness of it was something that we were even able to grasp because we avoid this topic at all costs.”

Though Lui’s death cafe may be the most frequently held one in Los Angeles, it’s not the county’s first. Hospice social worker Betsy Trapasso claims that distinction, after having launched a death cafe from her home in Topanga Canyon in 2013.

“It’s not a support group. It’s not a grief group,” Trapasso told The Times that year. “My whole thing is to get people talking about [death] so they’re not afraid when the time comes.”

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During the event, Trapasso asked the group of aging professionals to inhale some lavender oil to relax at the start of the session. (Though she no longer hosts a death cafe, she maintains a Facebook page where she posts articles and events related to aging, grief and end-of-life care.)

Participants sit in a circle at the death cafe.

Participants sit in a circle at the death cafe.

More than a decade later, there are no bongos or essential oils at L.A.’s latest wave of death cafes and, most noticeably, their attendees skew younger. At the Thursday and Saturday sessions I attended at the Philosophical Research Society, most people were in their 20s, 30s and early 40s. At Heavy Manners Library on a Tuesday night, the group would not have looked out of place at a music show at the Echoplex down the street.

Lui sees the attendance of the millennials and zoomers at her death cafes as evidence of an unfortunate reality: that younger generations are experiencing the loss of loved ones. Some of them have cited suicide, alcoholism and drug overdoses as the cause.

“Young people are being exposed to friends dying, and more often than I think people realize,” she said.

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Yacina, who leads the death cafe at Heavy Manners Library, is one of them. The 28-year-old indie rock musician says a good friend of hers died during her sophomore year of college, and she found the experience isolating, profound and “identity-forming.” Then, in 2021, she mourned the death of yet another friend, whom she later wrote a song about. Yacina said she realized “there’s no escape to people dying, and in fact, it’s actually the one true thing that we all can count on.” It led her to wonder: “Why don’t we talk about it more?”

Upcoming L.A. death cafes

She organized the Echo Park death cafe in June 2022, just a few months before Lui started one in Los Feliz. Like Lui, Yacina had recently gotten certified as an end-of-life doula, and the pandemic had planted the idea of death more firmly in her consciousness. In a phone interview, she recalled worrying that she could lose her parents to COVID-19.

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“It was such a scary feeling, but the truth is, you could lose anyone at any time,” she said.

It’s a truth that deVries, the 27-year-old artist who recently held a death cafe at Gorky and plans to hold another in Long Beach this summer, had to learn the hard way.

“When I was 18, my partner just suddenly passed in a very traumatic way, so I wasn’t really sure where to put the conversation,” she said. “I think the death cafe was the first time that I felt I had a container to express my interest.”

Reading material suggested by Elizabeth Lui.

Reading material suggested by Elizabeth Lui.

Sara Alessandrini, 35, listens closely as another participant shares during the death cafe.

Sara Alessandrini, 35, listens closely as another participant shares during the death cafe.

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Not everyone who attends these events has experienced a death in their family or community. Some attendees instead see death as a potent metaphor for life’s big changes and all the grief that comes along with them.

“It also helped me with living life in the moment and letting go of certain things,” said Sara Alessandrini, a 35-year-old filmmaker who attends Lui’s death cafe at the Philosophical Research Society.

When it’s her turn to share her reason for coming to the Thursday afternoon group, Alessandrini announces to the group that she wants to reflect not on the death of a person, but of her childhood. She talks about boundaries and healing. It prompts others to chime in, openly sharing stories about their upbringings. When the conversation comes to a pause, Lui offers some warm advice to Alessandrini: “I think you need to protect yourself even better than you think you’re protecting yourself.”

Lui often takes on a maternal role in the group. During one of my visits, she asks for an attendee’s phone number so she can text them a message of support on a day they say they’re dreading. At a separate session, she gets up from her chair to console someone in emotional distress. After the meetings, she emails death-themed book and movie recommendations to newcomers, who often comprise the majority of attendees. Timothy Leary’s “Design for Dying,” the Oscar-winning Japanese drama “Departures,” and the Sundance-winning documentary “How to Die in Oregon,” are all on her list.

Since many of her attendees are artists themselves, she sends out invites to their events, which often intersect with ideas about death. Recent examples include an online radio program featuring songs for funerals and a solo show about grief debuting at the Hollywood Fringe festival this month.

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Lui sometimes signs her emails: “Hope to see you when it fits.” She wants attendees to know there’s no obligation to return to her death cafe. Even still, the group can sometimes get large and unwieldy. At one recent death cafe, Lui recalled, there were 30 people, “and that was a little too much.”

Michael Allison, 62, laughs a little while sharing with the group of participants in the death cafe.

Michael Allison, 62, laughs a little while sharing with the group of participants in the death cafe.

The death cafe can sometimes feel like group therapy. But Lui makes no claims of being a therapist. “I think in a good way, we’re not therapists,” she told me. “Because we’re not just nodding and listening and letting them figure out their own truth. We actually have some ideas about where you find meaning in your life.”

At the Thursday afternoon death cafe at the Philosophical Research Society, everyone has so much to say that the conversation stretches for hours. Toward the end, it becomes loose and playful, resembling a late-night heart-to-heart. Between bouts of tears and laughter, someone asks: Do you think you know that you’re dead after you’ve died? Another poses a question: Is it just me, or has anyone else ever wondered if your dead parent can see you when you’re having sex? The room giggles, and it reminds one attendee to share her own story about her deceased mother.

At some point, Lui asks whether anyone knows the time. It’s 6 p.m. — meaning the death cafe has stretched on for four hours, twice as long as scheduled. Lui frantically apologizes, but nobody seems to mind. They hang around, talking and eating cupcakes.

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“Maybe we need a weekend retreat or something?” Lui suggests. But even a few days wouldn’t be enough to contain everyone’s questions about one of life’s greatest mysteries. For now, her cafe will have to suffice.

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'We Are Lady Parts' rocks with bracing honesty and nuance : Pop Culture Happy Hour

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'We Are Lady Parts' rocks with bracing honesty and nuance : Pop Culture Happy Hour
The Peacock series We Are Lady Parts is a bold and very funny comedy about an up-and-coming London punk band called Lady Parts. The members of Lady Parts, and its manager, are all young Muslim women, from various racial and ethnic backgrounds. Over the course of its first season, each member experiences triumphs and setbacks – including its lead guitarist, who strives to overcome stage fright. The show is about to return for a new season, so today, we are revisiting our conversation about it.
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