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re: The average price of a CryptoPunk NFT is $188,767.12

Posted on 10/17/21 at 12:15 pm to
Posted by Eternally Undefeated
Member since Aug 2008
924 posts
Posted on 10/17/21 at 12:15 pm to
quote:

Who and why are people paying all that for the rights to a JPEG?!



This is a really screwed up world that someone would expect customers to pay that much money AND that there are customers who would spend that much on insignificant stuff like this.

Posted by Jack Bauers HnK
Baton Rouge
Member since Jul 2008
5960 posts
Posted on 10/17/21 at 12:18 pm to
Why bother owning the Mona Lisa when you can just hang a copy of it on your wall? Try to look past the “artwork” being sold as NFTs and consider the implications of a distributed world wide ledger that no central entity controls.
Posted by CocomoLSU
Inside your dome.
Member since Feb 2004
154096 posts
Posted on 10/17/21 at 12:38 pm to
quote:

Why bother owning the Mona Lisa when you can just hang a copy of it on your wall? Try to look past the “artwork” being sold as NFTs and consider the implications of a distributed world wide ledger that no central entity controls.

I’m not even sure what you’re getting at.
Posted by LSU fan 246
Member since Oct 2005
90567 posts
Posted on 10/17/21 at 1:08 pm to
quote:


My question: what is the end game for this


Don't be the last one holding the potato

I think its psychotic the entire idea of it and I own more nfts than the average person should have
Posted by trilltiger
LA
Member since Nov 2007
2685 posts
Posted on 10/17/21 at 1:32 pm to
Serial numbered jpegs which may or may not still be hosted are not for me. However once pulsechain launches all your NFT’s will be copied. So you’ll have a copy on both chains. Will they be worth the same?
Posted by Beauw
Blanchard
Member since Sep 2007
3895 posts
Posted on 10/17/21 at 1:54 pm to
A fool and their money are soon parted.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
55822 posts
Posted on 10/18/21 at 8:24 pm to
quote:

But it’s not like that though, right? Because in your example you physically own/have the product or item. And with NFT shite, you don’t physically have anything. You “own” it in name only and can’t “use” it (like even with a piece of art you can admire it in person if it’s yours).


That's why I said "more akin". It's about as close an analogy as you can get because of the nature of the issue.
Posted by imjustafatkid
Alabama
Member since Dec 2011
59015 posts
Posted on 10/18/21 at 8:27 pm to
quote:

First thought; Money laundering.


No doubt.
Posted by Jack Bauers HnK
Baton Rouge
Member since Jul 2008
5960 posts
Posted on 10/18/21 at 8:37 pm to
quote:

I’m not even sure what you’re getting at.


Just pointing out the difference between looking at a copy of a piece of art and proving ownership of the original.

The NFT is proof of ownership while anyone can look at a copy of the image. Why seemingly worthless images are going for so much begs the same question as why a banana duct taped to a wall went for so much.
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