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

[murray t turtle]

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.
View attachment 282560

%%
AMAZING-LOL
That's actually one of the few pieces of modern art that actually looks like something; a blind rattlesnake that ate a rat.[The rat is the midpoint bulge]

 

[johnarb]

Whatever air drops mean they are not free and don't shower anyone with money.

Airdrops are crypto assets that can be claimed by the owners of the NFT's. They are sometimes "dropped/sent" to the crypto addresses that contain the NFT's

Crypto assets are bearer assets

Your difficulty in understanding how the cryptos ecosystem works is because you've never used local crypto wallets and interacted directly with the blockchain using private keys

 

[M.W.]

Incorrect, the thing YOU either don't understand or intentionally mislead with is how simple economics of supply and demand work. Nothing is for free. Either you take a lot of risk or something seemingly free is already priced in. That is how economics work and they have worked that way for thousands of years and will continue to work exactly the same way.

Airdrops are crypto assets that can be claimed by the owners of the NFT's. They are sometimes "dropped/sent" to the crypto addresses that contain the NFT's

Crypto assets are bearer assets

Your difficulty in understanding how the cryptos ecosystem works is because you've never used local crypto wallets and interacted directly with the blockchain using private keys

 

[johnarb]

Incorrect, the thing YOU either don't understand or intentionally mislead with is how simple economics of supply and demand work. Nothing is for free. Either you take a lot of risk or something seemingly free is already priced in. That is how economics work and they have worked that way for thousands of years and will continue to work exactly the same way.

You're talking about a separate concept. The concept of non-free airdrop due to capital at risk is not something I'm arguing with

Airdrops are similar to one-time dividends which are only given to owners of record of a particular stock of a certain time

The technical requirements to claim/receive the airdrop is ownership of a particular crypto asset (NFT)

 

[virtusa]

A loss is only a loss, once you sell it. Man should have kept it, and try to sell for $50 Billion or something.

He should just wait a few months. Then BTC is at $10MM. A lot of billionaires will fight for that NFT. Will be an easy fix...

 

[virtusa]

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.

They saw that crypto's did it in past and it worked. So they copy it.
Two things are important:

1. both parties should be anonymous (so they can sell to themself)
   
2. transaction cost should be close to zero (just in case they have to sell several times to themself)

 

[savoir]

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.

There is no doubt that it’s all manipulation. In the stock market during Livermore’s time, it was called “painting the tape.” With the establishment of the SEC, it became illegal.

 

[ph1l]

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.
View attachment 282560

You have it all wrong. This is one pixel that currently sells for more than $750,000

That's a lot of greenbacks for that tiny bit of green.

But this loonbirdmoonbird has a lot more pixels arranged as a work of ineptitudeart at a much lower cost.

That means the astute buyer gets more pixels in their pocket for fewer pesos.

 

[Nobert]

You have it all wrong. This is one pixel that currently sells for more than $750,000
View attachment 282604
That's a lot of greenbacks for that tiny bit of green.

But this loonbirdmoonbird has a lot more pixels arranged as a work of ineptitudeart at a much lower cost.
View attachment 282605

That means the astute buyer gets more pixels in their pocket for fewer pesos.

I saw people buying nfts of the color blue from vending machines.
Both green and pixel guy - Da Vinci would be jealous of those skills.

 

[ph1l]

I saw people buying nfts of the color blue from vending machines.
Both green and pixel guy - Da Vinci would be jealous of those skills.

It looks like a solution searching for a problem.