[Nhcoll-l] VEROs

Wed Aug 11 15:38:42 EDT 2021

Hi Catherine,

You make a lot of good points, and there are potential risks, which is why
we think the correct thing to do is to see if the market exists before we
plunge in. If there is a market, then it's important to understand how that
market can be responsibly sustained.

*Catherine: I want to make sure members of our community are aware of some
of the concerns regarding NFTs. For one, they rely on a system that has a
large carbon footprint. *

If the Blockchain networks consume more energy than is sustainable and
morally reasonable, then the endeavor should not be pursued or there should
only be a small number of VEROs based on the most important type specimens
rather than large numbers of less important specimens. This generates a lot
of monetary value for a relatively small amount of effort and a small
carbon footprint. We do not see museums generating VEROs of anything close
to a majority of their holdings. It would probably not be a sustainable
business model in addition to being environmentally unsustainable. And so a
small number of VEROs linked to scientifically important specimens should
outweigh any suboptimal energy usage of the Blockchain network as a whole.

*Catherine: If we create a market for VEROs of 3D models of museum
specimens, what will prevent anyone from creating and selling a non-VERO
NFT of the 3D models of museum specimens*

We predict a non-VERO NFT is going to be more or less worthless for a
reason you allude to, which is that anyone can produce one. People will
therefore buy the VEROs instead. VEROs are NFTs that would have to be
approved as VEROs through a smart contract.

*Catherine: Will funders and administrators expect museums to generate a
certain percent of their income from minting VEROs?*

Monetization of collections has an initial startup cost with respect to
generating VEROS, which could bring about more funding in the short to
medium term. But in the longer term, yes, it might mean that we have to
rely on fewer government handouts, which are already diminishing
dramatically. In other words, it could improve the public perception of
museums.

*Catherine: Will customs officials accept that the specimens we import are
priceless but carry no monetary value if we then sell the rights to digital
models of the specimens? *
Well we will not be selling the rights to the specimens because that is not
how NFTs work. But yes, specimens would have greater monetary value. But
there are already too many stringent rules in place that are making it
almost impossible to obtain collection and export permits from many places.
Sure, VEROs might make this worse. But we believe there is a much greater
advantage, which is that local scientists from low GDP countries, which
include many megadiverse countries, should receive the funds needed to
generate good quality 3D models from which they can mint important VEROs.
High quality 3D models would allow holotype species to be described by an
appropriate expert anywhere in the world. Then, the moment those VEROs are
minted and put on the market, the 3D model would be available for anyone in
the world to examine. That is how this commodity works. So there would be
less reason for scientists to travel long distances. Indeed, this aspect of
VEROs actually decreases carbon emissions because it decreases the demand
for long haul flights.

Respectfully,

Sam

On Wed, Aug 11, 2021 at 12:48 PM Catherine Early (she/her) <cearly at smm.org>
wrote:

> Hi Sam,
>
> We certainly all need more funding and this would be a creative solution,
> but I want to make sure members of our community are aware of some of the
> concerns regarding NFTs. For one, they rely on a system that has a large
> carbon footprint. Perhaps your article omitted this issue because there
> aren't many peer-reviewed publications on the topic. Here are some opinion
> and popular press articles about it:
>
> https://everestpipkin.medium.com/but-the-environmental-issues-with-cryptoart-1128ef72e6a3
>
> https://www.theverge.com/2021/3/15/22328203/nft-cryptoart-ethereum-blockchain-climate-change
>
> There have also been issues with people other than the creators of the
> media making and profiting from NFTs of the original media, with the
> creators never seeing that money (
> https://www.theverge.com/2021/3/20/22334527/nft-scams-artists-opensea-rarible-marble-cards-fraud-art).
> You recognize this issue in your article and propose VEROs as a way around
> this. But if we create a market for VEROs of 3D models of museum specimens,
> what will prevent anyone from creating and selling a non-VERO NFT of the 3D
> models of museum specimens that are freely available for educational use
> and making money from that, thus profiting from the demand that we helped
> to create?
>
> I also worry that monetizing our collections will have legal and ethical
> ramifications that we haven't considered. Yes, we would be monetizing
> digital models of our specimens and not the specimens themselves, but the
> digital models can only exist because we collect and care for the physical
> specimens. Will funders and administrators expect museums to generate a
> certain percent of their income from minting VEROs? Will customs officials
> accept that the specimens we import are priceless but carry no monetary
> value if we then sell the rights to digital models of the specimens?
>
>  Given that we as a community are dedicated to the preservation of
> biodiversity (threatened by things like large carbon footprints) and
> because of the other issues I brought up, we should think hard before
> diving into the world of NFTs. I welcome further discussion.
>
> Best,
> Catherine
>
> <https://www.smm.org/>
>
> *Catherine M. Early, PhD*
>
> she/her
>
> *Barbara Brown Chair of Ornithology*
>
> e: cearly at smm.org
>
> https://catherineearly.wixsite.com/home
>
> We envision a world where everyone has the power to use science to make
> lives better,
> and we are committed to using STEM as a tool to advocate for justice and
> equity.
>
>
> On Tue, Aug 10, 2021 at 9:14 AM Samuel Bolton <
> samuel.bolton77 at googlemail.com> wrote:
>
>> Dear all,
>>
>>
>>
>> Please see the link below to a paper on the use of non-fungible tokens
>> (NFTs) to help 3D digitize natural history collections. This email is to
>> alert you to this potential funding mechanism.
>>
>>
>>
>> https://www.mapress.com/mt/article/view/megataxa.6.2.2
>>
>>
>>
>> NFTs are potentially important to us because we are one of the few
>> communities that can greatly benefit from 3D versions of our holdings. I
>> don't think the art history community is dealing with a mass extinction.
>> And every important piece of art has already been photographed. Moreover,
>> unlike the art history community, we are far short of the funds that we
>> need to do our jobs properly.
>>
>>
>>
>> It is truly astonishing to see the sums of money that are being paid for
>> NFTs like CryptoPunks, largely because these things are rare rather than
>> genuinely good or even deliberate art (see post script). Perhaps we, as a
>> community, can add some quality to NFTs while also using them to fund an
>> important enterprise. More than 2 billion dollars were spent on NFTs during
>> the first quarter of 2021 alone. That is a lot of money for digitization.
>>
>>
>>
>> Here is a link to a website we just developed to help explain the concept
>> of VEROs to a broader audience.
>>
>>
>>
>> https://www.vero-nft.org/
>>
>>
>> Best wishes to you all,
>>
>>
>>
>> Sam
>>
>> (contact details on the above link)
>>
>>
>>
>> P.S. Below is a link to CryptoPunk 7523. It is an NFT worth over 11
>> million dollars? It’s not valuable because it is art (cryptopunks were
>> originally intended for a smartphone app). It is valuable because it is the
>> only one of 10,000 cryptopunks to be an alien (blue skin) that is sporting
>> a surgical mask. In other words, the investor who bought this bought it
>> because it is weird and one of a kind. There is plenty of weird and
>> wonderful in our collections, and a lot of it is one of a kind (e.g.,
>> holotypes).
>>
>>
>>
>>
>> https://www.sothebys.com/en/buy/auction/2021/natively-digital-cryptopunk-7523/cryptopunk-7523
>>
>>
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