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Old January 11, 2022, 05:45 PM   #1
Aguila Blanca
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Will someone explain this to me, please?

Press release from Cabot Guns. It's full of jargon that leaves me completely befuddled. I think what he's talking about is selling "virtual" guns -- for big bucks.

Quote:
Press Release

Cabot Guns Becomes First Firearms Company to Offer a Digital Firearm Collection Via Non-Fungible Tokens (NFT)

Beginning with Cabot’s latest One of a Kind (OAK) Custom—the Moonshot—the company assumes a leading industry role by digitizing select models in its custom 1911 pistol collection.

Cabot, PA – (January 11, 2022) – Cabot Guns, a leading provider of custom 1911 pistols, today announced it will mint a hand-picked collection of the company’s OAK custom 1911 pistols as non-fungible tokens (NFT). The first available NFT is the newest Cabot: the Moonshot. In addition to the Moonshot, twenty-two NFTs will be minted and offered for sale including, The Duke, Cabot’s January Gun of The Month Club pistol. The NFT’s will be minted and available for purchase on Saturday, January 15th, 2022.

Cabot will mint its NFTs using the OpenSea platform and, when purchased, each NFT will reside within the provenance of the Ethereum blockchain.

Discussing this new avenue for collectors, Cabot Founder and CEO, Rob Bianchin, said, "Cabot Guns is proud to be at the forefront of using the 1911 as a platform for modern art and we are excited to announce that digital gun collections with real and tangible value are now possible." Cabot Guns as a verified NFT issuer and the company’s NFT platform will allow collectors from any country to own a Cabot.

About CABOT GUNS

Cabot Guns designs and engineers one of a kind, heirloom-quality 1911 pistols to the highest quality and standards. Often referred to as “the Rolls Royce of 1911 pistols,” Cabot’s guns are meticulously designed and engineered utilizing aerospace tolerances. Cabot then marries technology with art to create the most accurate and most beautiful 1911s in the world. Cabot 1911s have won national shooting titles and are coveted by a wide array of ardent enthusiasts. From professional shooters to actors and from discerning collectors to rock stars, all say there is nothing quite like a Cabot. For more information, please visit https://cabotguns.com/.

Cabot NFT Press Release

Rob Bianchin, Founder & CEO
Cabot Guns
Phone: (724) 524-1002
Direct: (724) 318-6627
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Old January 11, 2022, 05:57 PM   #2
FoghornLeghorn
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It sounds like a junior high script for a 'B' sci fi flick. Like, obi wan kenobi's
Quote:
an elegant weapon for a more civilized age........
Either that, or somebody's typing while stoned?
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Old January 11, 2022, 06:35 PM   #3
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Bitguns instead of Bitcoins.
Just as real. Value???
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Old January 11, 2022, 06:42 PM   #4
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Value is whatever people are willing to pay.

One of the things they do is make super high-end guns that are unlikely to ever be actually used. As far as I can tell, prices on their regular guns start at $10K. Their "Moonshot" pistol, currently listed on their website is encrusted with lunar meteorites and lists for a quarter of a million. They valued one pair of of their pistols at $4.5million.

I guess from selling guns that will almost certainly spend their whole life being displayed as a works of art but never used, it's not a long jump to selling what amounts to extremely limited edition "prints" of the guns with digital proof of ownership.
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Old January 11, 2022, 06:58 PM   #5
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It is digital art. People are making millions selling NFTs of all manner. The next thing to separate fools from their money. Follow on to Crypto currency.
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Old January 11, 2022, 07:04 PM   #6
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+1

To "mint" a "Non-Fungible Token" is to create a single digital image that can neither be duplicated or reproduced - each image is (supposedly) a unique digital creation.

It's value lies in the fact that it is the only one of its kind. The idea is that collectors - especially crypto-investors and those who collect NFTs in general - will pay huge bucks for these "unique items" - and that their value will increase over time.

I will admit that - recognizing the Bible says thou shalt not covet - I dearly wanted one of those pistols in the article that JohnKSa linked. Cabot did a nice job in turning a meteorite into beautiful pistols. There was that pesky matter of my not having $4.5 million however...... And of course the fact that if I had such a pistol I'd shoot the hell out of it, carry it around everywhere, and destroy its collector value.

So if Cabot is selling NFT images of beautiful firearms to collectors for big bucks, more power to them. It isn't anything that I'd be interested in, but they cater to a much wealthier and more sophisticated crowd that I'd be found in! They must know their business.
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Old January 11, 2022, 07:12 PM   #7
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I read this thread again, then the "Kimber Overpriced" thread.

Like Doc, my guns are for shooting. Even my old Ithaca 37 16g Ultralight...I shoot it.
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Old January 11, 2022, 07:53 PM   #8
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More and more people daily fit into the category of "More money than brains."
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Old January 12, 2022, 09:23 AM   #9
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The biggest question in my mind is what Cabot's NFT is going to contain in the end. Some of these rushed offerings only have an HTTPS: link, not even IPFS. I guess we'll have to wait for them to hit the ledger to know what's in them.
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Old January 12, 2022, 09:51 AM   #10
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Wow. Just did a half hour read on NFT's. My head hurts, my eyes
are starting to cross and I feel a deep despair for the future of civilization
as we know it and the long term survival of Homo Sapiens.

Cabot builds some beautiful guns. Not sure I would want to own one, and
REALLY sure I have no interest in paying big "money" to own a picture of one!
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Old January 12, 2022, 12:39 PM   #11
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From what I understand of the current NFT frenzy that Cabot is trying to cash in on is that people who accumulated large fortunes in cryptocurrency are freely spending crypto to acquire 'art'.

In reality, you cannot actually purchase much with crypto without converting it into currency. I doubt it would be very easy to liquidate millions in crypto into US dollars.

If I'm sitting on a pile of bitcoin, why not spend some imaginary amount of it on 'art' (it has no real value in and of itself) so I can brag that I have the only one of whatever digital art I bought.

I wish Cabot well. I hope it works for them.
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Old January 12, 2022, 01:04 PM   #12
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I cannot even begin to understand the logic of this..........

..............but then again, I cannot understand how half of a freedom loving country like our could vote for what the Democratic Party has become. I'm just lost in the world of "new reality"! LOL
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Old January 12, 2022, 03:16 PM   #13
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I chose to read the responses before I read the post. Looks like I made a good decision.
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Old January 12, 2022, 06:25 PM   #14
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Quote:
Originally Posted by Doc Intrepid
I will admit that - recognizing the Bible says thou shalt not covet - I dearly wanted one of those pistols in the article that JohnKSa linked. Cabot did a nice job in turning a meteorite into beautiful pistols. There was that pesky matter of my not having $4.5 million however...... And of course the fact that if I had such a pistol I'd shoot the hell out of it, carry it around everywhere, and destroy its collector value.
That would take, I think, exactly one shot.

I haven't called Rob Bianchin up to ask him, but I have spoken with him at several SHOT Shows. As far as I know, they only made one meteorite 1911, and I'm pretty certain that it could not be fired. Why not? Because it's rock, not metal.

To understand how they could make a pistol out of rock, you have to understand Cabot Guns. Cabot's parent company makes industrial abrasives. Cabot Guns started off during a slow spell, when they were looking for ways to showcase what their abrasives can do. Somebody said, "Hey -- let's make a 1911," and it took off from their.

They don't start off with forgings or with investment castings. Every steel Cabot gun (frame and slide) starts off as a rectangular ingot, and is shaped into a firearm by grinding away metal until they get to where they need to be. No lathe's, no milling machines. Yes, they uses CNC techniques -- but their CNC machines run grinders, not cutters. You couldn't use cutters to "machine" a chunk of rock into the shape of a 1911 -- but you can grind it into that shape.

I'm pretty sure that's how they made the meteorite pistol. If I'm correct, it's just an expensive piece or rock which, if fired, would shatter upon the first shot.

The M1911.org on-line magazine has tested a couple of their pistols (not the meteorite gun, though), and has also published two factory tour reports. They make for interesting reading.
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Old January 12, 2022, 10:44 PM   #15
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Thanks for the info regarding the M1911.org online magazine articles. I will check those out.

You could be spot on - although they claim the pistols (they show photos of 2 of them) are made of an "iron nickel alloy" which was what the meteorite was made of.

If you can get past their poetic write-up, here are some pretty interesting photos and descriptions of how they made the pistols: https://cabotguns.com/oak-collection...ng-pistol-set/

Personally I liked the bit at the end where they say "price available upon request", and you have to fill out a form they'll undoubtedly use to see whether you have the necessary ching to bother responding to!

(Um, no, I didn't fill it out. If I have to ask how much it is.......)
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Old January 13, 2022, 01:25 AM   #16
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Quote:
I haven't called Rob Bianchin up to ask him, but I have spoken with him at several SHOT Shows. As far as I know, they only made one meteorite 1911, and I'm pretty certain that it could not be fired. Why not? Because it's rock, not metal.
It was a matched set, one left-handed, one right-handed.

Supposedly both guns were test-fired. The owner said it was a very nerve-wracking experience and I believe him. What you say is true, the meteorite material, though mostly metal is crystalline metal and therefore likely to be fragile.

I certainly wouldn't bet on them holding up to much shooting, but according to the company they have been checked for function.
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Old January 13, 2022, 11:50 AM   #17
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Did those "meteorite" 1911's ever sell. Years ago there was a tv show that featured the manufacturing of these pistols. As I recall (and I don't do that real well these days!), they were asking $2MM at that time.
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Old January 13, 2022, 01:23 PM   #18
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I forgot that was a matched set. Thanks for the link. Of course, the link is all hype and doesn't really explain how they made them. In my view, they are still nothing but very interesting (and VERY expensive) paperweights.
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Old January 13, 2022, 02:26 PM   #19
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So, selling a one-off image of a firearm.

My brain cannot compute what I just tried to understand. Gotta go with the Blue Pill on this one.
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Old January 13, 2022, 03:11 PM   #20
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I have a nice gun. I'm commissioning an artist to do a fine painting of the gun. I will sell you that painting. Each painting is unique and cannot be duplicated. Therefore they are worth money....

the "canvas" and paint used is digital file computer code. Buy now!!



That's what I got from it, and that explains it to me...

As to the meteorite 1911s, perhaps I am wrong, but I was under the impression that the nickel-iron "rock" of a meteorite was melted down to make the metal used, This is a different matter than carving the gun out of an asteroid.
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Old January 13, 2022, 09:53 PM   #21
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Quote:
Originally Posted by 44 AMP
As to the meteorite 1911s, perhaps I am wrong, but I was under the impression that the nickel-iron "rock" of a meteorite was melted down to make the metal used, This is a different matter than carving the gun out of an asteroid.
I think you skipped over the part of their description that mentioned the natural voids in some of the parts due to the nature of the meteor source.

I don't think they melted it down -- but I've been wrong before.
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Old January 14, 2022, 12:58 AM   #22
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Quote:
As to the meteorite 1911s, perhaps I am wrong, but I was under the impression that the nickel-iron "rock" of a meteorite was melted down to make the metal used, This is a different matter than carving the gun out of an asteroid.
They cut pieces out of it and machined them to spec. They had to do it that way to preserve the Widmanstätten patterns that make the guns so unique looking.
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Old January 14, 2022, 01:13 PM   #23
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What I don't understand is the one of a kind digital image aspect of it . OK great how do you display it ? How do you view it ? Lets say you want to hang it on your wall .... How?

What if you take a screen shot of it Now there's two of them lol

I don't get it
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Old January 14, 2022, 02:40 PM   #24
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Quote:
They cut pieces out of it and machined them to spec.
Ok. so they didn't melt down an asteroid, just cut pieces from one, and machined them into 1911 parts. Thanks for clearing that up.

Remind me to never buy a "meteor Mauser" !
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Old January 16, 2022, 12:25 PM   #25
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Call me old fashioned, but any picture I buy had better be suitable for framing and placing on the wall.
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