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Digital collectibles on Instagram is winding down

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Re: Digital collectibles on Instagram is winding down

#11

Post by pavlov »

tetrisgm wrote: post #4

What's interesting here is that it's not really affecting the perception of people who believe in web3. As someone who's working on a decentralized product, I speak with nft creators and collectors every day. They see this as a confirmation that Meta wasn't really in. There was also a perception that Polygon NFTs aren't as valuable. Interestingly, Reddit has managed to sell Polygon based profile pictures fine, and th…

> “What's interesting here is that it's not really affecting the perception of people who believe in web3.”

I think that’s the definition of belief: it’s not derived from facts so it can’t be shaken by evidence.

Re: Digital collectibles on Instagram is winding down

#12

Post by plugin-baby »

DisposableDave wrote: post #3

Sorry for the off-topic. This whole NFT debacle would be fun for me if it didn't cost me a dear friend; he's been working full-time on his "collection" for almost two years now, convinced he's "just around the corner of making millions" out of it when it's obvious the ship has long sailed. I guess there's more to it than just NFT craze, and he's probably struggling with other things, but his new "know-it-all NFT bro"…

Maybe read advice on how to deal with a friend or family member joining a cult. AFAIU, don’t criticise the hobby, and try to maintain contact, so that when he wants out he still has a friend.

Re: Digital collectibles on Instagram is winding down

#13

Post by EGreg »

plugin-baby wrote: post #12
DisposableDave wrote: post #3

Sorry for the off-topic. This whole NFT debacle would be fun for me if it didn't cost me a dear friend; he's been working full-time on his "collection" for almost two years now, convinced he's "just around the corner of making millions" out of it when it's obvious the ship has long sailed. I guess there's more to it than just NFT craze, and he's probably struggling with other things, but his new "know-it-all NFT bro"…

Maybe read advice on how to deal with a friend or family member joining a cult. AFAIU, don’t criticise the hobby, and try to maintain contact, so that when he wants out he still has a friend.

Well, speaking of a cult, we have NFT.NYC in a few days here in my city. It has many corporate industry sponsors, takes over the largest hotel in Times Square for three days, and many of the billboards. Cults don’t usually have that level of industry involvement. And many people from all over the world will be coming to have fun with NFTs and try out new things.

I guess Bitcoin can be considered a cult, too. HODL became a religion since 2013, after it became obvious Bitcoin wouldn’t be “an electronic peer-to-peer cash system” and the “store of value” aspect of money was the only one left.

Re: Digital collectibles on Instagram is winding down

#14

Post by TylerE »

dgellow wrote: post #10

So, you could collect NFTs of instagram posts? What a weird concept. Reddit avatars make more sense IMHO, they work as a form of status symbol. They are displayed on all your posts and comments, so you can show off your fancy avatar everywhere. I cannot see why anyone would care about a collection of posts.

No, this is avartars/PFP

Re: Digital collectibles on Instagram is winding down

#15

Post by okeuro49 »

EGreg wrote: post #13
plugin-baby wrote: post #12

Earlier quoted context omitted.

Maybe read advice on how to deal with a friend or family member joining a cult. AFAIU, don’t criticise the hobby, and try to maintain contact, so that when he wants out he still has a friend.

Well, speaking of a cult, we have NFT.NYC in a few days here in my city. It has many corporate industry sponsors, takes over the largest hotel in Times Square for three days, and many of the billboards. Cults don’t usually have that level of industry involvement. And many people from all over the world will be coming to have fun with NFTs and try out new things. I guess Bitcoin can be considered a cult, too. HODL bec…

> Cults don’t usually have that level of industry involvement

I think there's a level of money laundering involved.

Re: Digital collectibles on Instagram is winding down

#16

Post by 3np »

DisposableDave wrote: post #3

Sorry for the off-topic. This whole NFT debacle would be fun for me if it didn't cost me a dear friend; he's been working full-time on his "collection" for almost two years now, convinced he's "just around the corner of making millions" out of it when it's obvious the ship has long sailed. I guess there's more to it than just NFT craze, and he's probably struggling with other things, but his new "know-it-all NFT bro"…

As someone embedded in the space and tending to be an apologist for the technology here: I'm really sorry for your friend. I think due to the polarization and frenzy, the parallels to gambling and gaming addiction and the broader context of mental health is something that isn't talked about enough in a constructive manner in "investment" circles. Many aren't aware how much they're putting on the line not necessarily financially but emotionally, mentally, and identity.

Re: Digital collectibles on Instagram is winding down

#17

Post by nverno »

pavlov wrote: post #11
tetrisgm wrote: post #4

What's interesting here is that it's not really affecting the perception of people who believe in web3. As someone who's working on a decentralized product, I speak with nft creators and collectors every day. They see this as a confirmation that Meta wasn't really in. There was also a perception that Polygon NFTs aren't as valuable. Interestingly, Reddit has managed to sell Polygon based profile pictures fine, and th…

> “What's interesting here is that it's not really affecting the perception of people who believe in web3.” I think that’s the definition of belief: it’s not derived from facts so it can’t be shaken by evidence.

Faith would probably better describe that condition, a very steadfast form of belief.

Re: Digital collectibles on Instagram is winding down

#18

Post by pcthrowaway »

EGreg wrote: post #13
plugin-baby wrote: post #12

Earlier quoted context omitted.

Maybe read advice on how to deal with a friend or family member joining a cult. AFAIU, don’t criticise the hobby, and try to maintain contact, so that when he wants out he still has a friend.

Well, speaking of a cult, we have NFT.NYC in a few days here in my city. It has many corporate industry sponsors, takes over the largest hotel in Times Square for three days, and many of the billboards. Cults don’t usually have that level of industry involvement. And many people from all over the world will be coming to have fun with NFTs and try out new things. I guess Bitcoin can be considered a cult, too. HODL bec…

> Cults don’t usually have that level of industry involvement

Scientology probably puts NFT-bro-ism to shame with its level of industry involvement... It's just usually less in your face about the cult part.

Re: Digital collectibles on Instagram is winding down

#19

Post by KyeRussell »

kordlessagain wrote: post #8
DisposableDave wrote: post #3

Sorry for the off-topic. This whole NFT debacle would be fun for me if it didn't cost me a dear friend; he's been working full-time on his "collection" for almost two years now, convinced he's "just around the corner of making millions" out of it when it's obvious the ship has long sailed. I guess there's more to it than just NFT craze, and he's probably struggling with other things, but his new "know-it-all NFT bro"…

Crypto, and now AI, are likely the great differentiators between those who seek get rich schemes and those who lever up humanity through innovation, hard work and grit. If I had the ability to migrate to another planet, the last thing I’d take with me would be an NFT image of some stupid primate.

Are we still doing “AI is the new crypto” here? I’d like to think that we’ve moved past this by now.

Re: Digital collectibles on Instagram is winding down

#20

Post by 3np »

himinlomax wrote: post #6
tetrisgm wrote: post #4

What's interesting here is that it's not really affecting the perception of people who believe in web3. As someone who's working on a decentralized product, I speak with nft creators and collectors every day. They see this as a confirmation that Meta wasn't really in. There was also a perception that Polygon NFTs aren't as valuable. Interestingly, Reddit has managed to sell Polygon based profile pictures fine, and th…

Just look what happened to doomsday cults when the doomsday clock ran out and no doom occured: some members left, dejected, and those who stayed doubled down in fervor.

More like, there have been enough boom/bust cycles by now that many are taking a recovery and future upside for granted.
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