the sale of invisible sculpture just 2 days ago happened using paper certificate instead of NFT. Pity. It would have been match made in heaven.
https://www.npr.org/2021/06/01/1002018211/italian-artist-sel...
The NFT market bubble has popped?
11–20 of 332 posts
Re: The NFT market bubble has popped?
#12That was quick. Rubbish like this will kill crypto. So many grifters in crypto.
Re: The NFT market bubble has popped?
#1399% of this cryptocurrency market is a joke (https://henvic.dev/posts/bitcoin/). I'm tired of seeing this. Now we've NFT and an antivirus which has a miner embedded. lol
Re: The NFT market bubble has popped?
#14I could've drawn a similar looking graph in 2021-04-01 and arrived at the same conclusion on that basis ... and I would've been wrong.
Re: The NFT market bubble has popped?
#15Earth2 makes millions right now i think... It's sad
Re: The NFT market bubble has popped?
#16"Dumb idea is worth no money." Cool headline.
Re: The NFT market bubble has popped?
#17These cycles are getting faster:
1. I read a post on HN extolling a new use of some technology. I understand how it works but don't get why. I do not jump on the bandwagon.
2. I read about the same technology but not on HN - maybe an online newspaper. I recognise there is an upcurve. Maybe I should have jumped when I read it on HN.
3. Beeple makes a fortune. My son and I enjoy watching him on corridor crew. I think I still don't know why but it can't be that bad. I do not jump on the bandwagon.
4. I realise I want to know the why makes sense. I play with some tech. I still know how but not why. I do not jump on the bandwagon.
5. The bubble bursts. I retro-think my inaction into foresight - I am glad I did not jump on the bandwagon.
But, just maybe, perhaps why is less important than try.
Re: The NFT market bubble has popped?
#18One reasons could be that Ethereum gas fees for minting a piece are extremely high at the moment.
Tezos ($xtz) based platforms such as https://www.hicetnunc.xyz are thriving. The fees are next to nothing - especially compared to current alternatives.
Re: The NFT market bubble has popped?
#19One thing I have noticed when listening to the interviews of NFT companies is that, when describing NFT is the future, the arguments from these founders are examples of people/artists made money by selling NFT online. It has become more and more a theme for cryptocurrency technology has well: the reason you should be in is that other people have made money rather than the benefit of the technology itself. It is not a…
Lots of people got "into the internet" because others have made money on it and not for the technology (html, tcp/ip, dns...)
Yes, crypto is mostly focused on financial apps, so they are harder to understand than "send me 140 chars and we make a timeline of it".
Re: The NFT market bubble has popped?
#20NFTs are dumb however some of the NFT markets have one cool thing that I hope sticks around: the artist gets a cut of all future sales.
If you sell your NFT art for $10 and then someone resells it for $1M, you will get some percentage of the $1M.
We've all heard the stories of "collector buys 10 Jackson Pollock's for $10 in the 70s, sells the collection for $100M today". Wouldn't it be nice if the artist could benefit from that belated appreciation?
Like most other things on the blockchain you don't really need the blockchain to do this, however this is one case where it's actually much simpler to implement the concept using a blockchain and smart contracts rather than any traditional method I'm aware of.