NFT junk

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KO88

KO88

Senior Member
Joined
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Hi, I wonder if any of you dip into the NFT world?

What's your favorite/most precious NFT?


🐵 🐲🤖😺👶
 
I bought an NFT for one drop of the original vial of Belle Delphine bath water but some neckbeard drank it live on Twitch and sold that as an NFT so now the other drop owners are organizing a class action lawsuit through Discord but the judge won't hear our case because the only lawyer who would represent us identifies as their Animal Crossing fursona and insists on holding the trial on their in-game island via Zoom but the judge is demanding they appear in person despite how obviously problematic that is for the transphysical :(
 
tcmx3 said:
NFTs are an absolute scam and if anyone owns any my condolences to you.
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Some bad experience?

spaceconvoy said:
I bought an NFT for one drop of the original vial of Belle Delphine bath water but some neckbeard drank it live on Twitch and sold that as an NFT so now the other drop owners are organizing a class action lawsuit through Discord but the judge won't hear our case because the only lawyer who would represent us identifies as their Animal Crossing fursona and insists on holding the trial on their in-game island via Zoom but the judge is demanding they appear in person despite how obviously problematic that is for the transphysical :(
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OK this sucks...

I hoped I'll hear some positive news 😅
 
KO88 said:
Some bad experience?
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no, not personally.

but then I saw this scam coming from a mile away. and while I myself work in a different department, my work has proof-of-work folks and so Im pretty familiar with the concepts from having the papers stuffed in my face.
 
I thought of selling the void electrons leave when they have migrated once the screen image of a work of art is gone, a, still struggling to get the artists buy in....
 
I have read the explanation of what an NFT is, multiple times, but I still don't get it. I get blockchains, I just don't get this. It sounds to me like saying "this number is somehow associated with this digital thing and you acquire no rights to do anything whatsoever but I guess you own the number in some way." Have I missed some great benefit of NFT ownership? Other than the possibility of selling the number to some other sucker before the whole thing collapses, I mean.
 
Rangen said:
I have read the explanation of what an NFT is, multiple times, but I still don't get it. I get blockchains, I just don't get this. It sounds to me like saying "this number is somehow associated with this digital thing and you acquire no rights to do anything whatsoever but I guess you own the number in some way." Have I missed some great benefit of NFT ownership? Other than the possibility of selling the number to some other sucker before the whole thing collapses, I mean.
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no no you got the point.

the NFT market is as corrupt as the vintage video game market is today or the 80s graded coins thing.
 
I don't personally have any NFT's or understand NFT's very deeply. I have however, been told by numerous people that NFT's going to de-stabilize the wealth disparity in America, and will change the way money is traded forever, and that the stock market is an archaic, problematic thing of the past. And when those same people explain how NFT's are traded to me it seems like it is structured exactly the same as the stock market.......but again I am by no means an expert.
 
Alder26 said:
I have however, been told by numerous people that NFT's going to de-stabilize the wealth disparity in America
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Having trouble making the slightest bit of sense out of this. By what mechanism? The only way I could see it is if the wealthy put most of their wealth into these things, and lost it, but I know of no evidence that this is happening at a scale large enough to have that effect. I think a bet that this will not happen would be a better investment than an NFT.

Alder26 said:
will change the way money is traded forever
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By what mechanism? Currencies are fungible, and need to be.

Alder26 said:
And when those same people explain how NFT's are traded to me it seems like it is structured exactly the same as the stock market.......but again I am by no means an expert.
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Huh. So they are selling fractional shares in NFTs? That's the only way I could see it selling like stock, since, again, you need something fungible to have a mass market that resembles the stock market.

But once you have fungibility, yeah, you can set up a market that is structured exactly the same as the stock market. Doesn't mean that what you're selling has any value. I could set up a market like that to sell fractional shares of a blade of grass from my back yard.
 
Rangen said:
Having trouble making the slightest bit of sense out of this. By what mechanism? The only way I could see it is if the wealthy put most of their wealth into these things, and lost it, but I know of no evidence that this is happening at a scale large enough to have that effect. I think a bet that this will not happen would be a better investment than an NFT.



By what mechanism? Currencies are fungible, and need to be.



Huh. So they are selling fractional shares in NFTs? That's the only way I could see it selling like stock, since, again, you need something fungible to have a mass market that resembles the stock market.

But once you have fungibility, yeah, you can set up a market that is structured exactly the same as the stock market. Doesn't mean that what you're selling has any value. I could set up a market like that to sell fractional shares of a blade of grass from my back yard.
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youre absolutely correct but I think it was presented that all of the ideas were, as youve identified, not very realistic.

NFTs are a scheme for early folks to sell between themselves, gin up interest, dump their assets and leave other people holding the bag. all of their supposed benefits are a fantasy being sold to people, and many of them are just prima facie lies, not even wishful thinking.
 
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