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

NaffNaffBobFace

NaffNaffBobFace

Space Marshal
Donor
Jan 5, 2016
12,234
44,972
3,150
RSI Handle
NaffNaffBobFace
  • Like
  • Love
  • Glorious
Reactions: Bruttle, Szioul, Shiwaz and 4 others
BUTUZ

BUTUZ

Space Marshal
Donor
Apr 8, 2016
3,601
12,196
2,850
RSI Handle
BUTUZ
Q; How do you relive a moron of his money quickly and easily?
A: Sell them an NFT.
 
  • Like
Reactions: Bruttle, Vavrik, Amun Khonsu and 4 others
Montoya

Montoya

Administrator
Staff member
Oct 31, 2013
10,049
55,467
3,180
RSI Handle
Montoya
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.
 
  • Like
  • o7
Reactions: Bruttle, Sirus7264, Shiwaz and 5 others
NaffNaffBobFace

NaffNaffBobFace

Space Marshal
Donor
Jan 5, 2016
12,234
44,972
3,150
RSI Handle
NaffNaffBobFace
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...
Thank you, Glorious Leader!
 
  • Like
Reactions: Bruttle and Vavrik
Devil Dog Hog

Devil Dog Hog

Space Marshal
Jan 28, 2016
395
1,734
2,300
RSI Handle
DevilDogHog
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!"
 
  • Like
Reactions: Bruttle, Szioul, NaffNaffBobFace and 1 other person
Devil Dog Hog

Devil Dog Hog

Space Marshal
Jan 28, 2016
395
1,734
2,300
RSI Handle
DevilDogHog
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.
 
  • Like
Reactions: Bruttle, NaffNaffBobFace and Vavrik
Technoccult

Technoccult

Commander
Mar 16, 2022
32
105
100
RSI Handle
Technoccult
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.'
 
  • Like
Reactions: Bruttle, NaffNaffBobFace and Vavrik
Han Burgundy

Han Burgundy

Space Marshal
Jan 15, 2016
2,224
9,737
2,900
RSI Handle
Han-Burgundy
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.
 
  • Like
  • Love
Reactions: Bruttle, Bambooza, Lorddarthvik and 2 others
NaffNaffBobFace

NaffNaffBobFace

Space Marshal
Donor
Jan 5, 2016
12,234
44,972
3,150
RSI Handle
NaffNaffBobFace
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
 
  • Like
  • Glorious
Reactions: Bruttle, Bambooza, Han Burgundy and 1 other person
NaffNaffBobFace

NaffNaffBobFace

Space Marshal
Donor
Jan 5, 2016
12,234
44,972
3,150
RSI Handle
NaffNaffBobFace
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…"
 
  • Like
Reactions: Vavrik and Bruttle
Montoya

Montoya

Administrator
Staff member
Oct 31, 2013
10,049
55,467
3,180
RSI Handle
Montoya
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.
 
  • Like
Reactions: Bruttle, NaffNaffBobFace, Vavrik and 1 other person
Vavrik

Vavrik

Space Marshal
Donor
Sep 19, 2017
5,476
21,988
3,025
RSI Handle
Vavrik
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.
 
Last edited:
  • Like
Reactions: NaffNaffBobFace and Bruttle
Bruttle

Bruttle

Space Marshal
Donor
Aug 20, 2016
662
2,534
2,600
RSI Handle
Bruttle
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]
 
  • Like
  • o7
Reactions: NaffNaffBobFace and Vavrik
You must log in or register to reply here.
Top Bottom
Forgot your password?