Visa Buys CryptoPunk #7610

Post by mikro2nd » Mon, Aug 23, 2021, 1:51 PM UTC

manigandham wrote: post #27

rattlesnakedave wrote: post #24

Earlier quoted context omitted.

Not only is this a small sum of money for Visa to throw away, this is a small sum of money for an NFT collector to throw away. To me most criticism of NFTs is reminiscent of criticisms of modern art. Very few understand the scope of what "non fungible token" means. There are PLENTY of use-cases for a publicly verifiable token issued by a 3rd party and owned by you, other than art, if you just use a little imagination…

We already have (digital) ownership that can be publically verified.

Post by capnorange » Mon, Aug 23, 2021, 1:54 PM UTC

lottin wrote: post #45

pxue wrote: post #35

Earlier quoted context omitted.

how is a NFT any more arbitrary than a hallmark card? both are "artistic" to a certain degree, completely useless after the purchase and initial exchange.

The NFT is sold under the false pretence that is somehow connected with some object of art, when in fact there isn't any such connection. This is what makes NFTs a scam.

Post by capnorange » Mon, Aug 23, 2021, 1:57 PM UTC

azemetre wrote: post #49

lottin wrote: post #45

Earlier quoted context omitted.

The NFT is sold under the false pretence that is somehow connected with some object of art, when in fact there isn't any such connection. This is what makes NFTs a scam.

Yeah, when I realized you don't actually "own" it through any licenses it made me sour on the whole idea. Is there a reason why people couldn't be granted a license to do whatever they wanted with an NFT? Seems kind of arbitrary to do so, but I'm sure there's a reason why it's like that.

Post by Bayart » Mon, Aug 23, 2021, 2:00 PM UTC

Traster wrote: post #15

Well, congratulations to those NFT scammers, it finally paid off. They got their Whale. The entire game of pumping up NFTs to try and pass them off as a useful tool that'll see widespread adoption has finally paid out. This is a small sum of money for Visa to throw away, but this creates a fantastic permission structure for unsophisticated investors to throw away their life savings on a set of worthless e-certificate…

Post by DSingularity » Mon, Aug 23, 2021, 2:01 PM UTC

space_rock wrote: post #50

Traster wrote: post #15

Well, congratulations to those NFT scammers, it finally paid off. They got their Whale. The entire game of pumping up NFTs to try and pass them off as a useful tool that'll see widespread adoption has finally paid out. This is a small sum of money for Visa to throw away, but this creates a fantastic permission structure for unsophisticated investors to throw away their life savings on a set of worthless e-certificate…

The scammers are skilled at washtrading the prices high and getting attention on social media. Lots of standard salesman/con artist tricks to get people to fomo buy in