Hopefully all that crypto cancer goes bust, like dotcom back then.
My compassion will be similar as with those banksters back in '07-09...
https://en.wikipedia.org/wiki/Non-fungible_token
As to why those things sell these days? Go figure. People have, do and will buy stuff because it's hype. And not being physical goods, it doesn't take up any of their available space (compared to a physical painting or sculpture, for instance), so I guess they find it convenient. Or something.
Summary: Let’s just blame Californians - they’re the source of most utter bullshit that people see as “legitimate” and get suckered into. (Yes I’m serious, it’s the idiot centre of murica)
Summary: Let’s just blame Californians - they’re the source of most utter bullshit that people see as “legitimate” and get suckered into. (Yes I’m serious, it’s the idiot centre of murica)
I still don't really understand what the heck an NFT is, given we already have copyright, patents, property ownership, domain names etc. Why do we need NFTs as well ?
I still don't really understand what the heck an NFT is, given we already have copyright, patents, property ownership, domain names etc. Why do we need NFTs as well ?
Digital collectible bragging rights. And the hope that you can sell it onto someone else who wants to brag even more than you.
There are legit uses of course, but it's mostly just a mass hysteria digital art speculation fest right now.
Digital collectible bragging rights. And the hope that you can sell it onto someone else who wants to brag even more than you.
There are legit uses of course, but it's mostly just a mass hysteria digital art speculation fest right now.
Digital collectible bragging rights. And the hope that you can sell it onto someone else who wants to brag even more than you.
There are legit uses of course, but it's mostly just a mass hysteria digital art speculation fest right now.
Thanks, that makes a lot of sense (in this day and age, unfortunately).
A viewer emailed me informing me my Youtube channel is apparently an NFT. I don't have a lot of time or interest to fight this, but feel free to on my behalf, using this twitter post as evidence. We've entered very weird levels of fraud here.
[–]hotsaucecross 2 points 10 months ago
I've been scammed on OpenSea unfortunately. The seller keeps opening and shutting down accounts and stealing back their NFT's they sold somehow. My post explains it >> www.reddit.com/r/opensea/comments/m0tb60/scam_alert_please_comment_if_you_bought_from/
||lh3.googleusercontent.com/iA9nv7I1J2EoPNOsDwqvKmyPFq8hhY-25h7G9_CC7fWUh7H9BecfRiMJJ2zpLm31g9ZPbpcs7k0HHKoJaG_Z0NA9b2OJEXI-5DbLqw=w600
The value of a NFT is based on the (digital) object it represents. It seems to be gaining quite a bit of traction in the (digital) art world because it allows multiple people to become part owner of a piece (*) and the artist can choose to receive a kickback for every transaction.
* There are organisations /systems which allow people to invest in expensive objects (art, historical, etc) and trade the ownerships like shares. NFTs bring the ability to trade ownership without needing a middle man like auction houses etc.
The value of a NFT is based on the (digital) object it represents. It seems to be gaining quite a bit of traction in the (digital) art world because it allows multiple people to become part owner of a piece (*) and the artist can choose to receive a kickback for every transaction.
* There are organisations /systems which allow people to invest in expensive objects (art, historical, etc) and trade the ownerships like shares. NFTs bring the ability to trade ownership without needing a middle man like auction houses etc.
The theory behind NFTs was the artist would get a portion of the money as the digital asset increased in value.
Reality is there are bots (on twitter for example) that steal digital artwork, and sell the NFT w/out permission.
Given howcrypto currencyDLT (distributed ledger) works, you can't even cancel or take ownership of the stolen item.