NFTs: did I just hear a 'pop' or is this more of a 'blip'?

NaffNaffBobFace

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BUTUZ

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Q; How do you relive a moron of his money quickly and easily?
A: Sell them an NFT.
 
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Montoya

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I probably need to do a follow up on this topic, but NFT's as a market are not dying. Im seeing less attention and value being assigned to things like @ jack's tweet because price discovery is getting better.

Single NFTs like his which are not part of a greater community backing it tend to not have that much value. His tweet will sell because it will bring free advertising to whoever buys it, but no value beyond that.

On the other side, NFT projects like Bored Apes and Cryptopunks are still thriving, so the NFT market is not popping, its simply maturing, which is weird to say about a market this young.
 
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NaffNaffBobFace

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Montoya said:
I probably need to do a follow up on this topic, but NFT's as a market are not dying. Im seeing less attention and value being assigned to things like @ jack's tweet because price discovery is getting better.

Single NFTs like his which are not part of a greater community backing it tend to not have that much value. His tweet will sell because it will bring free advertising to whoever buys it, but no value beyond that.

On the other side, NFT projects like Bored Apes and Cryptopunks are still thriving, so the NFT market is not popping, its simply maturing, which is weird to say about a market this young.
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Thank you, Glorious Leader!
 
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Devil Dog Hog

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Its more of a cross between a wet fart and a vomit burp, at the same time, and just as uncomfortable and gross when you try to explain to your wife where all the money in savings went "But, but honey, i didnt want to miss out on the next big thing, it was a surefire way to make some serious money. They told me it was guaranteed!"
 
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Devil Dog Hog

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Montoya said:
I probably need to do a follow up on this topic, but NFT's as a market are not dying. Im seeing less attention and value being assigned to things like @ jack's tweet because price discovery is getting better.

Single NFTs like his which are not part of a greater community backing it tend to not have that much value. His tweet will sell because it will bring free advertising to whoever buys it, but no value beyond that.

On the other side, NFT projects like Bored Apes and Cryptopunks are still thriving, so the NFT market is not popping, its simply maturing, which is weird to say about a market this young.
Click to expand...
Like all things in life since the dawn of man kind and cavemen agreed that the fire stick Gronk found was equal to five mammoth carcasses, the price of anything is negotiable and equal to what the market is willing to support.
 
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Technoccult

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Wow, he discovered a way to lose money that's even faster than opening a restaurant.
I'm with the Glorious Leader here: we're going from "Call it an NFT and KERCHING!"* to actual attempts at determining practical investment value. But damn, it's evolving quickly.

* The crypto equivalent of 'Glue some gears on it and call it Steampunk.'
 
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Han Burgundy

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NFTs are, and will remain, primarily a marketplace to launder money; Just like the "high art" scene before it, but with crypto-bucks. Sure, average piss-ant millionaires can pull their publicity stunts and grifts, but that does nothing but draw the spotlight away from the billionaires running their $$ through the wash.

Launderee: I sure would like to use this blood money, but I don't want the tax-man getting wise

Launderer: Have you considered "investing" into NFTs? My friend will sell you this beautiful image of pregnant Sonic for $3 million in crypto

Launderee: Why would I do that? Sonic doesn't even have that great of tits

Launderer: Because, good sir, then I could purchase it from you for $2.5 million in clean cash. Boom. Money washed, minus my fee of course.

Launderee: Okay, but I'm screenshotting that sweet sonic pic.

The end.
 
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NaffNaffBobFace

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Han Burgundy said:
Launderee: Why would I do that? Sonic doesn't even have that great of tits
Click to expand...
You reached out and touched my heart with your words of truth and wisdom
 
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NaffNaffBobFace

NaffNaffBobFace

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Don't know how I missed this one:

www.theverge.com

Thief steals $1 million of Bored Ape Yacht Club NFTs with Instagram hack

Just one of the stolen Apes was worth over $350,000.
www.theverge.com www.theverge.com

The first comment was rather rye however:

"ksyndicate - Posted on Apr 25, 2022
I didn’t read the article I will admit but let me guess did the thief use one of the good ole tricks in the book such as:
CTRL+C and CTRL+V or did they use more sophisticated NFT attack vector of Right Click>Save Picture As…"
 
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Montoya

Montoya

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Vavrik said:
Brought to you by the Bored Ape Yacht Club. Scam spawning a scam?
Click to expand...
There are plenty of scams out there, but Apes would not fall into that category. Its easy to label every single NFT a scam and feel good about your superior position on the topic (which I have done), but as I have come to learn more about the sector, this broad brush stroke is not necessarily true.
 
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Vavrik

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Montoya said:
There are plenty of scams out there, but Apes would not fall into that category. Its easy to label every single NFT a scam and feel good about your superior position on the topic (which I have done), but as I have come to learn more about the sector, this broad brush stroke is not necessarily true.
Click to expand...
I respect and understand your opinion. I don't share that, though it's not a problem with NFT's. That is just a technology looking for a problem to solve. My problem is the companies or individuals that owns these websites are pretending they are Web 3.0 compliant. And it pisses me off.


I should also point out that CIG is non-compliant even with the V2.0 of this, but when I asked they provided me the game's terms and conditions. Being open is all the difference.
 
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Bruttle

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I don't know about all the NFT stuff, but a part of it sounds like it has practical promise. That's the part where mmo assets could have uniqueness and a "chain of custody" so to speak. Just imagine all the drama in the past about currency farmers, hackers, exploiters, and botters. Those things are never healthy for a MMO economy. Quite a few games have been outright ruined because it's difficult to verify all parties involved. NFT's might some day help with that if every piece of currency and every asset can be tracked.

For now though, I find it hard to have any hype about them whatsoever. I don't know much about them. I don't know anything about their value or future value. I just know that many of the companies and people pushing their validity sound like they need you to believe.

For instance, you know those get rich seminars? I'm sure it is actually possible to make money from the information they provide. However, out of all of the people attending, only a handful will ever make money off it. Meanwhile, the person speaking is just raking in the money from the admission fee and additional costs. Their profit relies on people believing it's possible.

It feels like that to me. Sure, maybe a handful of people will make tons of money. I just highly doubt it will be anywhere near the profit made by the people pushing the product.

[/$0.02]
 
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