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Posted on 9/22/23 at 9:20 am to Big_Sur
Why are all the NFTs of monkeys?
Posted on 9/22/23 at 9:20 am to Bjorn Cyborg
They aren't.
Posted on 9/22/23 at 9:22 am to Bjorn Cyborg
quote:
Why are all the NFTs of monkeys?
They were among the most popular ones, especially with celebrities and NBA players. We are talking spending 100s of thousands of dollars on them.
Now they are mostly worthless
Posted on 9/22/23 at 9:25 am to Mo Jeaux
quote:
They aren't.
Obviously not all of them, but a lot of them are, including the high profile ones.
Even OP used one as a reference in this thread.
I don't follow NFTs, but whenever I see a Twitter post referencing them, it's usually a monkey.
Posted on 9/22/23 at 9:26 am to Bjorn Cyborg
Its a series of them and they were very popular and became basically the posterchild for NFTs. All from the same "artist".
Posted on 9/22/23 at 9:28 am to Bjorn Cyborg
I think the Bored Apes just became the symbol of NFTs kind of like Pets.com became one of the most high profile symbols of the dot com boom/bust.
Posted on 9/22/23 at 9:31 am to Big_Sur
I own several pieces of original art. I have some original oil paintings, steel art, a block print on onion skin (that may actually have significant value), and several large format silver-gelatin photographic prints, printed by the photographers. I don't consider them "investments," although they have actual art market value.
Pouring money into a digital file of a dumb looking image is insane. These things have no value as art, you can't hang them in your home or office, and no art dealer would ever buy them. This is a fake "market" scam.
Pouring money into a digital file of a dumb looking image is insane. These things have no value as art, you can't hang them in your home or office, and no art dealer would ever buy them. This is a fake "market" scam.
Posted on 9/22/23 at 9:35 am to Big_Sur
quote:
Having looked into those figures, we would estimate that 95% to include over 23 million people who’s investments are now worthless.
I would bump the number up to 99%. I would put crypto itself at 95%.
This is widely known in the space though
Posted on 9/22/23 at 9:37 am to Big_Sur
quote:
over 23 million people who’s investments are now worthless.
who’s = who is
Wonderful journalism there.
This post was edited on 9/22/23 at 11:09 am
Posted on 9/22/23 at 9:46 am to Big_Sur
I think it was a short term money laundering operation.
Posted on 9/22/23 at 9:48 am to Big_Sur
NFTs as a concept make sense.
Contracts, deeds, etc on an immutable blockchain.
NFTs in the form of 100k monkey jaypegs is r e t a r d e d
Contracts, deeds, etc on an immutable blockchain.
NFTs in the form of 100k monkey jaypegs is r e t a r d e d
Posted on 9/22/23 at 9:49 am to SuperSaint
I have apes worth more than your bud light stock portfolio oweo
Posted on 9/22/23 at 9:49 am to Big_Sur
I thought is was an absolute sham and money laundering scheme to begin with. A few people made some money selling to fools right off the bat when they got popular, but most people are stuck holding shite. Who ever thought this would be a good investment are idiots.
Posted on 9/22/23 at 9:54 am to Mid Iowa Tiger
quote:
I think it was a short term money laundering operation.
This was one answer and the other values were just wash trading looking for one sucker.
Dried up very quickly as there are not that many dumb enough people to fall for this type of scam.
Even the majority of cryptobros thought NFTS were a scam. That should tell you how small the target market was.
Posted on 9/22/23 at 9:55 am to Hateradedrink
quote:
NFTs as a concept make sense.
Contracts, deeds, etc on an immutable blockchain.
Give us one use case that actually makes sense.
Contracts and deeds dont... need an authority and ability to change it.
Slow shitty blockchain technology trying to solve problems that are already solved except with a worse solution. No wonder none of those things ever catch on
This post was edited on 9/22/23 at 9:56 am
Posted on 9/22/23 at 9:56 am to UltimaParadox
quote:
blockchain technology
The technology here is good
This post was edited on 9/22/23 at 9:59 am
Posted on 9/22/23 at 10:01 am to Deactived
quote:
To give a sense of scale, our study identified 195,699 NFT collections with no apparent owners or market share. The energy required to mint these NFTs is comparable to 27,789,258 kWh, resulting in an emission of approximately 16,243 metric tons of CO2.
Apparently NFTs are bad for the environment. So clearly they were doomed to fail. Haha
Posted on 9/22/23 at 10:04 am to Deactived
quote:
The technology here is good
It was a pretty good idea back in the late 1970s. Now it is old and slow. The only use case that makes sense is crypto assests.
Wikipedia Merkle Tree
Posted on 9/22/23 at 10:04 am to Big_Sur
Haha I had a former hipster neighbor that quit his job to sell NFT's. His goal was to sell NFT's and then start a head shop/vape shop. 
what a f*cking moron.
what a f*cking moron.
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