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re: Non-fungible token (NFT) wave is here. Digital art sold for $69.3 million
Posted on 3/11/21 at 11:33 am to TheArrogantCorndog
Posted on 3/11/21 at 11:33 am to TheArrogantCorndog
I've made thousands off an $18 two pack 'investment' in Mid January on NBA Top Shot, which is double what I've made in double the time on my physical card sales.
Not even kidding. Have even cashed out via wire transfer. It's legit if you can get in early enough
Not even kidding. Have even cashed out via wire transfer. It's legit if you can get in early enough
0
Posted on 3/11/21 at 11:38 am to USMEagles
quote:
The differences between the Mona Lisa and MonaLisa.gif are many. A real painting has the painter's exact brush strokes. He actually touched that and physically manipulated it. Some people care about that.
If you copy a GIF, the copy is exact. There's no physical or informational difference there. Sure, you can attach some sort of unhackable number to it and say, "so-and-so has the very first copy of this file ever created," but it's objectively more pointless than owning the real original of a painting is.
The person that made the GIF probably made it and then moved it somewhere else to attach the NFT anyway. I move files around all sorts of different ways before I upload them somewhere. If this doesn't matter to the person buying the NFT, why does any of this crap matter? Just copy the damned GIF.
Right. An original painting is one of a kind and therefore is actually SCARCE.
This is just artificial scarcity.
Posted on 3/11/21 at 11:47 am to chinhoyang
quote:
This will be the world's Tulip Craze.
Except you don’t even have the flowers.
Posted on 3/11/21 at 11:52 am to jimbeam
quote:
We will now see in this thread who the boomers are
Me! That is stupid AF!
Posted on 3/11/21 at 12:01 pm to CunningLinguist
I get it, but I don't get it. So maybe that means I ultimately don't get it. I conceptually understand how it works, but then I get hung up on the values. The values just don't make any sense to me. It's the same reason I don't totally understand bitcoin speculation, either. Like I get how bitcoin works and understand the need for it and how it can be put to practical use, but I don't understand it's value. I've never been good with financial concepts and theories anyways, so whatever.
Posted on 3/11/21 at 12:02 pm to CunningLinguist
It doesn't make sense, but you do you.
Posted on 3/11/21 at 12:10 pm to jimbeam
Call me a boomer I suppose
Posted on 3/11/21 at 12:34 pm to rocket31
Can recite the top 100 comic book artists, but this is nerdy. Lol
Posted on 3/11/21 at 12:44 pm to Lester Earl
half of these people will have Joe burrow NFTs within 2 years lol
Posted on 3/11/21 at 1:06 pm to rocket31
The NFT of his injuries will not have value
Posted on 3/11/21 at 1:11 pm to BottomlandBrew
I have a master's degree in finance, and I still don't get the valuations. I'm not saying that blockchain doesn't have tremendously impactful value for the future of humanity, but this random s*** selling for stupid money is insane... The NBA top shots for instance-for the money some of these people are paying, I could fly LeBron James on a private jet and come have him dunk for me in person!
This post was edited on 3/11/21 at 1:12 pm
Posted on 3/11/21 at 1:14 pm to jimbeam
quote:
We will now see in this thread who the boomers are
That would be me because I don't know what in the frick this is about nor do I care.
Posted on 3/11/21 at 1:16 pm to Hermit Crab
quote:
yeah, most of the things that are selling as NFTs are available on youtube, google images, or twitter. what makes the NFT version of these worth more than a youtube link?
Absolutely nothing. This entire thing is stupid and will flame out after a bunch of idiots lose their asses. And I'm not a cranky boomer, I'm in the millennial age group.
Posted on 3/11/21 at 1:38 pm to RedPants
They think this is some combination of Bitcoin and old school trading cards when in reality, it’s a 21st century money laundering operation all gussied up.
If you are expecting it to become some long term viable means of investing and wealth growth, you’re going to get fricked. If you are looking to make some quick scratch over a short period of time and use that money to roll over into your longer wealth growth plans that have proven long term reliability, then yeah have at it.
If you are expecting it to become some long term viable means of investing and wealth growth, you’re going to get fricked. If you are looking to make some quick scratch over a short period of time and use that money to roll over into your longer wealth growth plans that have proven long term reliability, then yeah have at it.
Posted on 3/11/21 at 2:16 pm to chinhoyang
quote:
Someone buys an artwork and then licenses the digital image for use.
uh, but they have the tangible in hand
This is like using a photo of a check to transact business. Now try that with a check that was never written
Posted on 3/11/21 at 2:19 pm to CunningLinguist
quote:
Non-fungible token
Sounds kinda racist
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