How to lose $250,000 in seconds
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Strictly speaking, they haven't "lost" anything.
Not sure who to feel bad for, the guy that lost the sale or the rest of us for having to deal with this NFT insanity.
From: 'Piracy' website offers NFT art as free downloads - BBC News
Bragging rights? For what? Those monkey images from the OP link are not even created by artists - they are programmatically generated.
and so many real apes are endangered, be nice if people could buy bragging rights to rainforests and reserves
And nothing of value was lost...aside from a bunch of money.
Another reason for me to ignore this idiocy. I don't do "status symbols" or bragging - and have very little use for those that do.
It still baffles me the amount of money some people throw at NFTs.
I'll sell to any of you that are interested, for a limited time only, a numbered collectible acorn guaranteed* to go up in value, for the low, low, low entry level price of 2.89 BTC, 3533223.2 Doggycoins or 3 Cu yds of yellow turnips... (turnips preferred).
This is not a virtual acorn, but an actual acorn that I will keep for you in a broom closet of my friend's truck dealership in Bohemia.
As owner, you will receive a 6"x8" photo of the acorn as well as a phone number** to call during business hours to check on the well-being of your acorn. You can not visit the acorn or touch it in any way and all forms of intimate relations with it is strictly forbidden.
I am not responsible for the wellbeing of your acorn once you purchase it and do not guarantee you are the only owner, nor do I relinquish ownership of said acorn, but you will own the photo and the right to copy the phone number down.
THIS IS A LIMITED TIME OFFER!
DON'T MISS OUT!
YOU WILL FEEL SO STUPID AND SAD IF YOU DO! (miss out)...(or don't... it's possible either way)
CLICK HERE TO PURCHASE: www.boyyouaresogullibleitotallydontfeelguiltyaboutrippingyouoffyouninny.com
Satisfaction guaranteed!***
*Not an actual guarantee
**You may be hung up on or the number may no longer be in service, its belongs to a really old Nokia flip phone from 2011
***Totally not guaranteed or true
One of these rocket scientists used one of these pics as an avatar for their Twitter account!
I dunno... they seem to be a great potential source of income if you know how make a good or ridiculous enough pitch.
Well at least this acts as a filter to immediately show you which Twitter users have really bad judgement.
In case his music didn't do that for you already.
"I Saw You Coming" - Harry Enfield (British TV sketch show).
Good. The only NFTs I'm even remotely open to hearing about are those with obvious artistic value, created by an actual artist for creative intent, not solely for profit. I had to block DAZ's Non-Fungible People on Twitter and won't join the Discord because they won't stop retweeting or sharing other NFT garbage like that. I am a bit interested in learning what the NFPs will sell for and what the demand is because at least you get a usable 3D figure (but I'm disappointed they don't include any men), but not enough to wade through the crap to find out.
I suspect it's a status-quo symbol for rich people on social media. Before I got married, a few of us from work would go out an LA dance club and one of the girls said let's wait and see who drives up in a Porche. Say what? People can be shallow and gullible. Some people, will spend their last buck on a leased porche or an ape to impress others. What one wears on their feet drives and uses as an avatar does impress some materialistic souls. If you can afford a to throw a couple or three hundred thousand on an ape you belong to the social class of ape clubbers. Monkey see monkey do. Wonder how many catfish stories will be connected to ape looking avatars.
Watch out! Tulips are coming back.
Grab a few hundred acres and start planting them now.
Hey, here's an idea, name a crypto-currency scheme, or an NFT as "Tulip".
And wait for the opportunity to hear that the Tulip market has crashed.
https://en.wikipedia.org/wiki/Tulip_mania
Suppose the Knights Templar (the REAL Knights Templar) became a real organization again, and the only way you could gain acceptance into the organization was to own a specific NFT (not an exact duplicate). The person (was it a person?) who paid $69,000,000.00 for that NFT - he became the member of a club. A club we can't join. The Cullinan diamond (or more correctly - diamonds) is worth TWO BILLION DOLLARS - it's pretty, it looks like a piece of ice - but what good is it?
What discord channel do I go to in order to buy this acorn? And is it fully rigged?
So let me get this straight. NFTs are the equivalent of paying a membership fee to join an exclusive club and the only benefit of membership is to be able to brag that you are rich enough to be a member?
Diamonds have been items of substantial value for thousands of years and consistently so. So we should expect them to hold their value into the future too. Tulips were a short-lived panic-buy. The dot-com boom was a speculation that didn't hold up. I'm not making a judgement on how much use they are to me (I have no money anyhow) but if someone were to offer me a diamond in one hand and an NFT certificate in the other - I am sure that I, along with almost everyone else, would take the diamond, thank you. Again, that's not to say that prices for useless objects aren't obscene but a $10 bill has no value other than that which it can be exchanged for. The paper is worthless but the goods it can buy do have value.
By the way, I think it was the Knights Templar who invented paper money.
I find an acorn more valuable than a diamond.
Genuine question because I truly don't understand, so what does this do? With one right click, followed up with a left click, I now have the exact same thing to use however and whenever I want, indistinguishable to my eyes from anyone who paid money for a copy of it. Is there something I'm not getting? What "bragging rights" do I have from an avatar image?
I can't wrap my brain around why someone would pay 5 cents for something free like this, let alone into the thousands of dollars, unless it is purely to cover transferring money for criminal activity.
Edit: P.S. That thing is really ugly. Once I prove my point, I'm deleting it. I feel like I overpaid.
I guess it's like owning an original painting compared to owning a print of it...except the original painting is ugly as all hell and even the owner is probably asking themselves why they bought it. :)
That's the biggest mystery about NFTs to me - I get why people collect stuff, I get why people invest in things hoping they'll increase in value, and I get why people like art, but I don't understand how NFTs can both claim to be all of those things and fail at all simultaneously.
As with so many other European "inventions", paper money had already been in use in China for centuries.
Of course.
...hmm, and old song by Badfinger comes to mind.
There is no proof of origin/originality provided by the NFT, you just pay some (anonymous) seller for a unique link to some digital content, the only thing you own is the link. There may also be other equally unique links to the same content.
McGyver's acorn-post describes the scheme pretty good.
I get the appeal for owning the original content too, as I was big into collecting anime cels back in the early 2000s. I thought it was neat to own a unique piece of a series that was a major part of my teenage life. I had an online gallery with scans of each cel and lineart that other collectors could checkout. I even met someone that had a cel from the same sequence as two of the cels in my collection. It was fun. I still love the series. Despite that love, if the creator suddenly offered an exclusive NFT pertaining to that series, it would be very unlikely that I'd buy it. It just doesn't appeal to me.
Some of these NFTs are so ridiculous. I mean, people are turning memes into NFTs for goodness sake.
Not that you are RICH enough to be a member, but that you are a member of a specific group and that you fit into a hierarchy. The NFT is your key into that world. Like a membership card to the YMCA. The NFT is a symbol. And it proves that you are one of the cognoscenti. An example is all the jewlery and paraphenalia of Freemasonry. All that symbolism means something to those who are members - and is meaningless to everyone else. These NFTs are DOCUMENTED. Supposedly the records of owernership can't be challenged or changed or faked. It's the ownership that matters - not the actual picture (or whatever the NFT is). I know NOTHING about Dungeons & Dragons - but all that stuff that goes along with it, means something to the people who participate. To me, one baseball card is like every other baseball card on the planet - except some of them are worth millions of dollars - who knows why? I don't. A European coat-of-arms of a royal or noble family is protected by law - like a tradmark is in North America. You can't use it or claim it unless you're part of the family. I happen to have the most famous coat-of-arms on earth. I'm part of the family. My DNA matches. I'm just this litttle artist in Canada and my grandparents were farmers - but my Facebook friends are Habsburgs and de Bourbons, and my cousins are the King of the Netherlands, and unfortunately the British royal family - and virtually every other royal and noble in Europe. What astonishes me is that they unquestionably accept me as a member, eventhough I don't have a lot of money or a castle or a title. That coat-of-arms can be sketched on a napkin, but if you OWN that coat-of-arms - you're in. And believe me - you're not just part of a family - you're part of a very very exclusive club that you can't buy your way into. Symbols have meaning and value. Just because I don't understand what all these ugly stupid NFTs mean, doesn't mean they have no value. They may be a key to a whole world. At the moment for almost everybody on earth, they are nothing but a key to confusion.