A man bought an NFT for $2.9M, then listed it for $48M. The top bid was less than $280

M.W. said:
What's the difference then? An original oil painting and a replica differ quite clearly but I don't see the difference here between a digital image and the same digital image.
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You're paying for the ownership rights and the benefits, if any, that come with the ownership

For example, Azuki NFT owners received 2 Beanz official NFT's on 4/27, which are worth combined over $30K

I have a Bored Ape Yacht Club NFT but I purchased it after the airdrop a month and half ago of 10,094 Ape tokens which could have been sold for over $150K (currently worth a little over $110K)

There are also some real-life benefits, i.e. free hotel stay, access to VIP clubs, access to Apefest that takes place on a yacht, there's one coming up in June, but to be honest, I have no interest in participating on these real-life perks for OpSec reasons

There's speculation that Bored Ape owners may get an airdrop of Metaverse land, we shall see

So, to summarize, the pictures can be downloaded by anyone, but the ownership rights cannot be downloaded
 
johnarb said:
You're paying for the ownership rights and the benefits, if any, that come with the ownership

For example, Azuki NFT owners received 2 Beanz official NFT's on 4/27, which are worth combined over $30K

I have a Bored Ape Yacht Club NFT but I purchased it after the airdrop a month and half ago of 10,094 Ape tokens which could have been sold for over $150K (currently worth a little over $110K)

There are also some real-life benefits, i.e. free hotel stay, access to VIP clubs, access to Apefest that takes place on a yacht, there's one coming up in June, but to be honest, I have no interest in participating on these real-life perks for OpSec reasons

There's speculation that Bored Ape owners may get an airdrop of Metaverse land, we shall see

So, to summarize, the pictures can be downloaded by anyone, but the ownership rights cannot be downloaded
More...
Ownership rights can be granted or denied by the artist, via sale or as a generous gift. It also can remain free to use for public, if artist chose to do so.
NFT makes zero sense and has no internal value, especially given the fact that 99.99% of those are a garbage/takes none to little skill to be made.
But it corelates to modern art, which is a garbage as well, that is bought by people, who has zero taste for art, yet, likes to spend monies, so they could brag later on, to some 20 y.o hoe/jealous relative, yet, not about the piece itself, but about how much did they paid for that, garbage.
IMG_20220418_092420.jpg
 
Nobert said:
Ownership rights can be granted or denied by the artist, via sale or as a generous gift. It also can remain free to use for public, if artist chose to do so.
NFT makes zero sense and has no internal value, especially given the fact that 99.99% of those are a garbage/takes none to little skill to be made.
But it corelates to modern art, which is a garbage as well, that is bought by people, who has zero taste for art, yet, likes to spend monies, so they could brag later on, to some 20 y.o hoe/jealous relative, yet, not about the piece itself, but about how much did they paid for that, garbage.
More...

Not all NFT's are the same so it's important to read the terms and conditions

The company behind Bored Apes, Yuga Labs, gave full ownership of commercial rights to the owners of the Bored Ape NFT's, whereas Cryptopunks owners did not because of the restrictions placed by Larva Labs, the company behind Cryptopunks

A couple of months ago, Yuga Labs purchased the Cryptopunks and meebits from Larva Labs

https://cointelegraph.com/news/nift...yptopunks-1inch-wallet-supports-nfts-and-more
 
NFTs are nothing but hype and that good old saying of fear of missing out. This market is going to collapse so hard that 99.8% of NFTs will be totally worthless.
Everyone believes they can play the good old flip game but the only thing they will be receiving is flops.
This a complete fools game, sit back and watch as this NFT market collapses because it's going to be quite epic.
 
Who is buying this ridiculous garbage



Moonbirds Set to Bring in $66M as NFT Drop Mints Out



The highly-anticipated Moonbirds project opened for minting today. 7,875 NFTs minted at 2.5 ETH, equating to $66 million in sales.

PROOF Collective's Moonbirds began minting this afternoon.
The project's 7,875 allowlist mints are set to bring in $66 million for its creators.
Moonbirds NFTs currently trade for more than three times the 2.5 ETH mint price on the secondary market.


https://cryptobriefing.com/moonbirds-set-to-bring-in-66m-as-nft-drop-mints-out/
 
So, you agree then that most "benefits" at best materialize in the virtual world. We all can agree that nobody drops anything for free in this world. Whatever air drops mean they are not free and don't shower anyone with money.

Why would anyone be interested in the ownership rights of sprites? Other than purely for speculative gambling purposes.

I truly hope interest rates will be raised a lot higher. People have gone absolutely bonkers with free money for way too long.

johnarb said:
You're paying for the ownership rights and the benefits, if any, that come with the ownership

For example, Azuki NFT owners received 2 Beanz official NFT's on 4/27, which are worth combined over $30K

I have a Bored Ape Yacht Club NFT but I purchased it after the airdrop a month and half ago of 10,094 Ape tokens which could have been sold for over $150K (currently worth a little over $110K)

There are also some real-life benefits, i.e. free hotel stay, access to VIP clubs, access to Apefest that takes place on a yacht, there's one coming up in June, but to be honest, I have no interest in participating on these real-life perks for OpSec reasons

There's speculation that Bored Ape owners may get an airdrop of Metaverse land, we shall see

So, to summarize, the pictures can be downloaded by anyone, but the ownership rights cannot be downloaded
More...
 
Companies? I thought we are speaking of "artists". So it's all commercial in the end... Lol...

johnarb said:
Not all NFT's are the same so it's important to read the terms and conditions

The company behind Bored Apes, Yuga Labs, gave full ownership of commercial rights to the owners of the Bored Ape NFT's, whereas Cryptopunks owners did not because of the restrictions placed by Larva Labs, the company behind Cryptopunks

A couple of months ago, Yuga Labs purchased the Cryptopunks and meebits from Larva Labs

https://cointelegraph.com/news/nift...yptopunks-1inch-wallet-supports-nfts-and-more
More...
 
Most if not all large NFT transactions are
Fake. Essentially wash trading among wallets with the purpose of creating hype. Every time there is an attempt to sell it at auction there is literally 0 interest. This happened few months ago at some big auction house among many others.
 
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