51–60 of 262 posts
What's the story here? This is normal market dynamics for collectibles where people paying what they perceive the value to be. I'm sure there are plenty of Beanie Babies (and other Collectibles) that are nearly worthless compared to what someone payed for them previously. Note: I'm not for or against NFTs. I'm just trying to point out the dynamics of the Collectibles market.
Pardon me. I never understood NFTs and never planned to be on board. But from my nascent understanding of what NFTs comprise, I couldn't understand why first tweet ever is a real NFT. The tweet is publicly available so there is no exclusivity. Anyone can look far enough & find it. The second being ownership. The tweet was always time stamped & in Jack Dorsey's name. Buying it as NFT will not really change its attribu…
NFTs aren’t contracts for the rights, so this is as real an NFT as any other. An NFT is essentially a text file, that only one person can prove they own via the blockchain, where the file has a URL written inside. Nothing more, nothing less.
Kevin Rose just raised $60M+ this weekend[1], so unlikely that the NFT market is "crumbling." [1] https://cryptobriefing.com/moonbirds-set-to-bring-in-66m-as-...
Yes, at some point too ICO were raising hundreds of millions of dollars. Can you point me to a single ICO were "investors" actually made money on the long run?
From another article on the same topic https://www.theguardian.com/technology/2022/apr/14/twitter-n... : > Man who paid $2.9m for NFT of Jack Dorsey’s first tweet set to lose almost $2.9m > ‘This is the Mona Lisa of the digital world’, says crypto entrepreneur Sina Estavi who bought the NFT in March 2021 This is a good example of why so many people don't take cryptocurrency seriously. It full of hype men who spout tr…
A Peter Thiel quote - "The something of somewhere is often the nothing of nowhere."
What's the story here? This is normal market dynamics for collectibles where people paying what they perceive the value to be. I'm sure there are plenty of Beanie Babies (and other Collectibles) that are nearly worthless compared to what someone payed for them previously. Note: I'm not for or against NFTs. I'm just trying to point out the dynamics of the Collectibles market.
A NFT is not a collectible, it's a pure vehicle for financial speculation. The object being collected no longer exists in any meaningful sense.
Depends on whether or not you set the thing on fire. But in the case of a tweet, that's rather difficult. Of course the literal original tweet might long ago have hit the bit bucket, scrubbed off an old original server that was dumpstered long ago, and now even the "real" one that showed on twitter was still just a copy.
Not that an NFT with an abstract pointer to the dumpstered server would be any more meaningful.
Wile E. Coyote could relate: \\ __(o) ___ / /\/ ___ /\ `/_/\__, ___ \_/ \ | / ____________ \ ____/ _/ ___/ /
The right question to ask is "was it ever real?" I suspect we'll discover it was all wash trades and money laundering in short order.
This comment could be talking about all art.
I'm sure NFTs have a place in today's art market, but it won't totally replace everything, so no, don't invest all your money on somebody's auto-generated monkey.
I genuinely don't know since most of my knowledge of NFT stuff comes from people commenting it vs. primary sources, but are there very active markets for NFTs in general beyond initial offerings? Like is there an active, healthy and functioning market for BAYC, or was it more about an initial rush and now a bunch of people have tokens that have value on paper but no market to realistically sell them?
There’s an active market, but it’s mostly winner takes all and ones that establish a brand/community (helped by the tokens gating access to merchandise or events). Also good when token includes IP. BAYC/MAYC is the biggest, milady seems to be getting traction (not sure why). These specific ones are also easy to liquidate for now because of opensea bots willing to sell ~10% below “floor” so they can flip later. I made…
NFT's are a scam.
Sure. But bundle them into CDOs, give them the AAA rating, start selling options on them and suddenly that's a legit business. NFTs are missing this thick layer of complexity that obfuscates the nature of the core financial "product".
An NFT is more akin to a baseball card - it’s value might go up, but that would just be because someone wants to buy it. It’s not producing any income on its own and the owner is no right to recoup the money they paid for it.