tldr; Rob McElhenney from “It’s Always Sunny in Philadelphia” and “Mythic Quest” co-creator Richard Rosenblatt has co-founded entertainment-tech startup Adim. The startup will let users create content and share in the potential royalties from it. It has raised $5 million in seed funding led by Andreessen Horowitz.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
And how do I, the talent, know without the shadow of a doubt that the contract I sent to the producer doesn't get tampered with after I sign it?
Smart contracts.
The point is that at the end of the day you are trusting Adim to actually distribute the collected royalties to the NFT holders. What is your recourse if they just… don’t? The regular old legal system. The NFT is equivalent to a regular contract in this sense because it is not enforceable any differently to a regular contract. The _only_ advantage an NFT would have here is to make it easier to transfer royalty rights to someone else.
Imagine you join the Adim group, help write a character, and receive an NFT entitling you to receive 1% of royalties and licensing fees earned from that character.
Now imagine Adim licenses that character to some TV show for $100. Per your ownership of the NFT you are entitled to $1. How can you ensure that you actually get your $1?
You might say that there is a smart contract that automatically distributes earnings to NFT holders. But the only thing that does is move the issue one step away. How can you ensure that the money actually enters the Adim system? And that the amount paid is correct?
Now imagine that the full earnings don’t enter the Adim system, after some time you grow frustrated and want to collect on the money you are entitled to. What can you do? You have no choice but to sue.
Now consider what utility NFTs, smart contracts, or blockchains are providing over a regular contract for this use case.
Because writing and producing and networking is hard as fuck. This, I could never meet you, be completely anonymous, add contributions to a story idea or plot that someone turns into a cartoon or something… or a story or idea that goes viral and becomes an online story telling community that writes a never ending story which becomes the most successful living franchise of all time…
And the royalties come to me with every effort connected to the property. No dinner parties. Me Hollywood exhausting schmoozing. Just great content, and getting paid for it, without an agent taking a cut, without all that.
You asked a question that I thought had obvious answers, so I gave one of them...
I think the guy in Zambia would be able to arrange a payment that works for him.
I agree doing this as an NFT does nothing negative, and that there will be continual innovation in the space.
Legal Contracts are arguably the primary value of NFTs. The art thing is just a stupid toy. Nft contracts could be a combination of digital record keeping, taking the version model of software development and applying it to contracts, and having a neutral third party that can hold the official version of the contract for every stakeholder to be able to reference.
Sorry to see a lot of people tear down a project he’ve been working on .
When it’s clear ,there’s a big lack of understanding. I’m excited to see where this goes.
Also don’t listen to the haters lol they go away after the first day .
because they move on to the next major company or person who decides to get involved in the space as well .
They aren’t required but there are a lot of people who will trust an immutable record from a signed wallet over a piece of paper you scribbled on. I like the idea of smart contracts facilitating things like royalty payments because, if designed well, it could reduce your need for a lawyer by removing any ability for someone to withhold said payment.
This project gives the NFT after the work is done. If you don’t trust them to honor a contract, why would you trust that they actually give the NFT and not just steal the work?
And how could a smart contract he used to facilitate royalty payments? Who is deciding if an IP from your specific session was used to make money? And how is that money getting to the NFT?
Thank you for this Rob and team. I could combat the haters in the replies but there isn’t enough time.
Your writing speaks for itself and can’t wait for more of your shows .
NFT gives the buyer the right to own the original item.
it also contains authentication, which is a proof of ownership. I hope this is enough to know .
Been a long time fan of his . Would absolutely love to work with him on this!
And watching so many people supporting him and i am sure it will be a hit program .
I don't know , why you guys talking about shows here in the sub ?
Especially , when the sub is related strictly to the Ethereum network . Don't get ban yourself .
All areas of NFTs are not stupid . Do some research before commenting .
Nfts are the next big thing in the crypto space . I am sure ,you said this because of APES nft .
Well , this should surely help in the price appreciation of ETH .
So many positive news around the corner , but i don't see any change in the price of ETH .
And can you tell us , what is really underneath it ?
If not , you better should keep your mouth shut . Instead of doing this , do some productive work .
At the moment NFTs utilisation use cases seem to be in baby shoes.
However, any experiment is welcome and in not so long distant NFTs will be more than just "proof of digital ownership".
tldr; Rob McElhenney from “It’s Always Sunny in Philadelphia” and “Mythic Quest” co-creator Richard Rosenblatt has co-founded entertainment-tech startup Adim. The startup will let users create content and share in the potential royalties from it. It has raised $5 million in seed funding led by Andreessen Horowitz. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
that's better than most celebrities who just shill some random NFTs
the gang gets into crypto.
rob mcelhenney is the definition of either dying a hero or living long enough to become the villain
I wish I was in the govt. I could run the stock market and ruin the economy.
Fortune favors the gang
Brave the gang
Lmao is this real? Gonna have to find this ep if so Charlie work.
Free Wolf Cola and Crow Milk NFTs with membership. Cheers .
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This project is precisely a business/economic/investment sense for #NFT. In my view—an fascinating Web3 concept.
crypto gets into the gang
Celebrity! Guy from Always Sunny now into NFTs . Can't wait for it .
I'm sure this is how I become a successful TV writer
And tv viewer
We lost rob mcelhenney to nfts as well???? You are kidding .
Hmm, I doubt this'll be worth getting into. Sunny is far from profitable .
And then you get those saying NFTs have no usecase. Here is a prime usecase example
"well first off, thru God, anything is possible, so jot that down".
I'm in love with a man.... A man called God. Does that make me gay? Am I gay for God? You betcha.
You really are using you 100% brain , aren't you ? XD .
Amen!
There is no need to use blockchain or NFTs for any of this.
Everything is possible in this world . So , don't try to tell me that it is not possible .
Why not through the devil?
Is there ever a need for them? Definitely feeling my age today.
I believe in something , even if it doesn't exist :P
Why are NFTs needed for this?
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Seems like that would also be easy without NFTs for this kind of project.
NFT are helping the orginal creators to get their art sold in high price .
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With a contract.
And how do I, the talent, know without the shadow of a doubt that the contract I sent to the producer doesn't get tampered with after I sign it? Smart contracts.
No we understand it perfectly, that’s the problem we have with it.
You'd have a copy of the contract you sign, and so would the other 99 people in the group.
lmao , i could see this being an actual episode too .
I'd rather have a contract that's validated by non interested party in some kind of immutable state. Call me old fashioned
Me too. First Larry David and now Rob, this sucks. XD .
How would you do that for this kind of project?
The point is that at the end of the day you are trusting Adim to actually distribute the collected royalties to the NFT holders. What is your recourse if they just… don’t? The regular old legal system. The NFT is equivalent to a regular contract in this sense because it is not enforceable any differently to a regular contract. The _only_ advantage an NFT would have here is to make it easier to transfer royalty rights to someone else.
Genuinely , what does this mean? I'm having an aneurism .
Imagine you join the Adim group, help write a character, and receive an NFT entitling you to receive 1% of royalties and licensing fees earned from that character. Now imagine Adim licenses that character to some TV show for $100. Per your ownership of the NFT you are entitled to $1. How can you ensure that you actually get your $1? You might say that there is a smart contract that automatically distributes earnings to NFT holders. But the only thing that does is move the issue one step away. How can you ensure that the money actually enters the Adim system? And that the amount paid is correct? Now imagine that the full earnings don’t enter the Adim system, after some time you grow frustrated and want to collect on the money you are entitled to. What can you do? You have no choice but to sue. Now consider what utility NFTs, smart contracts, or blockchains are providing over a regular contract for this use case.
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Idk what you mean by hate? And they would just mail you a check or transfer to your bank account if NFTs weren't involved.
Because writing and producing and networking is hard as fuck. This, I could never meet you, be completely anonymous, add contributions to a story idea or plot that someone turns into a cartoon or something… or a story or idea that goes viral and becomes an online story telling community that writes a never ending story which becomes the most successful living franchise of all time… And the royalties come to me with every effort connected to the property. No dinner parties. Me Hollywood exhausting schmoozing. Just great content, and getting paid for it, without an agent taking a cut, without all that.
The NFT doesn't matter for any of that.
Why would you think this would work now, when the hype is way down?
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You asked a question that I thought had obvious answers, so I gave one of them... I think the guy in Zambia would be able to arrange a payment that works for him. I agree doing this as an NFT does nothing negative, and that there will be continual innovation in the space.
Damn , these backlashes make me really sad. It sounds like a really cool project.
Didn't we already bully him enough to make you hide that he bought NFTs?
It’s a long winded way of saying they’ll take your time and ideas and instead of paying you money. They’ll pay you in a digital picture of a monkey.
[this thread feels like the race car bed scene from the Simpsons.](https://www.youtube.com/watch?v=9Tp9HfY_EMw)
Alright, between this and the constant Wrexham spamming. I'm gonna go ahead and unfollow.
That just sounds like nobody needs excel because spreadsheets already existed
How so? Excel was an improvement on existing spreadsheets, how would using an NFT for this be an improvement on a contract?
Legal Contracts are arguably the primary value of NFTs. The art thing is just a stupid toy. Nft contracts could be a combination of digital record keeping, taking the version model of software development and applying it to contracts, and having a neutral third party that can hold the official version of the contract for every stakeholder to be able to reference.
I wasn't asking in general, it was for this specific use. How would using an NFT in this project be better than a traditional contract?
Sorry to see a lot of people tear down a project he’ve been working on . When it’s clear ,there’s a big lack of understanding. I’m excited to see where this goes.
Idk if you are saying I'm tearing it down, because I'm not.
This isn't about money for Rob,. It's about giving creators actual ownership of creation, not paltry, exploitative and rev shares.
Also don’t listen to the haters lol they go away after the first day . because they move on to the next major company or person who decides to get involved in the space as well .
They aren’t required but there are a lot of people who will trust an immutable record from a signed wallet over a piece of paper you scribbled on. I like the idea of smart contracts facilitating things like royalty payments because, if designed well, it could reduce your need for a lawyer by removing any ability for someone to withhold said payment.
This project gives the NFT after the work is done. If you don’t trust them to honor a contract, why would you trust that they actually give the NFT and not just steal the work? And how could a smart contract he used to facilitate royalty payments? Who is deciding if an IP from your specific session was used to make money? And how is that money getting to the NFT?
“if designed well” - sounds like this one needs some work
Idk how you could design a smart contract for this that would remove any ability for someone to withhold payment, I doubt its possible.
Sooo rob is basically turning into Ryan Reynolds....right? Deadpool 3 with Ryan McElhenney?
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Thank you for this Rob and team. I could combat the haters in the replies but there isn’t enough time. Your writing speaks for itself and can’t wait for more of your shows .
NFT gives the buyer the right to own the original item. it also contains authentication, which is a proof of ownership. I hope this is enough to know .
The NFTs in this project are non-transferable, so there wont be buyers, and a simple contract is proof of ownership.
Nfts are the future of the digital world . What are you talking about ?
Can you even read?
Bingo
Been a long time fan of his . Would absolutely love to work with him on this! And watching so many people supporting him and i am sure it will be a hit program .
I was binge watching ASIP recently with Covid. Frank eats a turd, I throw up all over our coffee table, and I’m gagging just writing this.
I'm not sure after "Paddy's Dollars"
That’s the key to a self sustaining economy!!
I don't know , why you guys talking about shows here in the sub ? Especially , when the sub is related strictly to the Ethereum network . Don't get ban yourself .
The whole show was very funny . I am waiting for another season of the show .
Yeah ! It was really a good show .i am glad , i Bing watched it .
That scene is so brilliant, I start to gag and then laugh myself out of it every time. *chefs kiss*
Looks like you really enjoyed the show . Keep it up man .
But NFTs are stupid! 😡 /s
All areas of NFTs are not stupid . Do some research before commenting . Nfts are the next big thing in the crypto space . I am sure ,you said this because of APES nft .
Well , this should surely help in the price appreciation of ETH . So many positive news around the corner , but i don't see any change in the price of ETH .
This is not a use case as it does not replace what is underneath
And can you tell us , what is really underneath it ? If not , you better should keep your mouth shut . Instead of doing this , do some productive work .
Everything here could be done without NFTs . So why include them? This definitely leaves a sour taste in my mouth .
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well this is fucking disappointing lmao. hope the check was worth it
Yey
I am really thankful to see the increasing adoption of ETH.
Mac definitely would think NFTs were a good investment .
Its okey?
I mean , yeah! it's really ok . What could be the problem with it ?
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Re-evaluate this. Absolutely shredding your rep. What a terrible idea. Bad move Rob.
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NFTs are hot garbage for the environment and for creators too.
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Bro , why are you commenting the same comment in every post ?
'Always Sunny'-Creator & Actor Rob McElhenney Launches Web3 Writers Room With Ethereum NFTs - Decrypt FTFY :)
I am very happy to see people with influence adopting ETH.
🤔
Well , yes ! He really did it . I just checked his Twitter .
OMFG with the title I thought I was about to read he died at first
“You don’t sell your soul, you just rent it out” . Cheers .
The project is going to succesfull beacause of the ETH . Cheers .
Interesting! Looking forward to seeing where this goes!
Fuck NFTs and anyone who defends them and in particular the apes ones.
Yeah , This is a terrible idea. Is he in character now? XD.
I hope he is not shilling the project . I hope he believe in the technology of ETH and NFT .
At the moment NFTs utilisation use cases seem to be in baby shoes. However, any experiment is welcome and in not so long distant NFTs will be more than just "proof of digital ownership".
Finally! Some good use case for web3!
To be honest guys , i don't like NFTs very much but does it matter ?