NFTs, the next wave of stupidity

Isn't this already years old? 1 or 2 years ago sec even commented on those if I remember correctly. Back then NFTs were issued for future subscriptions and store gifts and other obscure stuff.

Pekelo said:
What are NFTs? NFT stands for non-fungible token – a digital token that's a type of cryptocurrency, much like Bitcoin or Ethereum. But unlike a standard coin in the Bitcoin blockchain, an NFT is unique and can't be exchanged like-for-like (hence, non-fungible).

https://www.reddit.com/r/path%3D%252Fr%252FButtcoin%252Fcomments%252Fm80hue%252F
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You will go into the digital records as one of the greatest digital tools when the digital cleaner is done with all this junk. I will then happily show you my big digital middle finger.

AbbotAle said:
What I believe in is simple -

Anything that can be digitised WILL be digitised.

And to a certain degree - within 10 years - that will include us humans. That will mean 2 of us, one physical and one digital AKA an Avatar. So if people think NFTs are crazy their heads are going to explode when the full force of Avatars come about. Now, if you think in terms of avatars, NFTs start to make a bit more sense. In such a world do you not think people will be showing off and peacocking dressed in their designer gear, virtual Rolex in their wrist, expensive NFT art on their walls etc. No different to the real world...
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The bottom line question is, why should a NFT be valuable economically, logically or psychologically speaking? Well, the short answer is, they shouldn't. Sure anything is worth as much as someone is willing to pay for it, but that doesn't mean you are not in a huge bubble economy/ hype and you are overpaying for shit.

https://www.bbc.com/news/technology-56371912#16162650283532&{"sender":"offer-0-VYnmA","displayMode":"inline","recipient":"opener","event":"resize","params":{"height":80,"iframeId":"offer-0-VYnmA"}}

Is this just a bubble?
A day before his record-breaking auction, Beeple - whose real name is Mike Winkelmann - told the BBC: "I actually do think there will be a bubble, to be quite honest.

"And I think we could be in that bubble right now."

Many are even more sceptical.

David Gerard, author of Attack of the 50-foot Blockchain, said he saw NFTs as buying "official collectables", similar to trading cards.

"There are some artists absolutely making bank on this stuff... it's just that you probably won't," he warned.

The people actually selling the NFTs are "crypto-grifters", he said.

"The same guys who've always been at it, trying to come up with a new form of worthless magic bean that they can sell for money."

Former Christie's auctioneer Charles Allsopp said the concept of buying NFTs made "no sense".

"The idea of buying something which isn't there is just strange," he told the BBC.

"I think people who invest in it are slight mugs, but I hope they don't lose their money."

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I disagree. NFTs are perfect vehicles for money laundering.
 
Pekelo said:
What are NFTs? NFT stands for non-fungible token – a digital token that's a type of cryptocurrency, much like Bitcoin or Ethereum. But unlike a standard coin in the Bitcoin blockchain, an NFT is unique and can't be exchanged like-for-like (hence, non-fungible). [/MEDIA]
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Of course these things are gonna get super popular. No intrinsic value, nearly nil carry, and super easy transactions: NFTs are perfect digital assets for Money Laundering.

https://www.nasdaq.com/articles/fin...r-sights-alter-wording-around-nfts-2021-03-20

http://www.digitaljournal.com/tech-...ws-and-sleaze-factors-emerging/article/586988
 
https://twitter.com/x/status/20
Is this thread now more valuable?:)

https://www.theverge.com/2021/3/22/...d-first-tweet-ethereum-cryptocurrency-twitter
Jack Dorsey’s first tweet sold as an NFT for an oddly specific $2,915,835.47
The winning bidder for the Twitter CEO’s first tweet was Sina Estavi

By Kim Lyons Mar 22, 2021, 2:58pm EDTon a platform called Valuables by Cent that lets people make offers on tweets that are “autographed by their original creators.”

WHAT’S AN NFT?
NFTs allow you to buy and sell ownership of unique digital items and keep track of who owns them using the blockchain. NFT stands for “non-fungible token,” and it can technically contain anything digital, including drawings, animated GIFs, songs, or items in video games. An NFT can either be one-of-a-kind, like a real-life painting, or one copy of many, like trading cards, but the blockchain keeps track of who has ownership of the file.

NFTs have been making headlines lately, some selling for millions of dollars, with high-profile memes like Nyan Cat and the “deal with it” sunglasses being put up for auction. There’s also a lot of discussion about the massive electricity use and environmental impacts of NFTs.If you (understandably) still have questions, you can read through our NFT FAQ.

The bids on Dorsey’s succinct first tweet “just setting up my twttr” from March 21st, 2006, quickly escalated, and Dorsey later said he would end the bidding on the tweet’s 15th anniversary. According to the time stamp on Cent, Estavi made his final, winning bid on Monday afternoon, and according to Reuters, paid using the Ether cryptocurrency in the amount of 1630.5825601 ETH. Estavi, CEO of blockchain company Bridge Oracle, told Reuters he was “thankful.”

Dorsey said previously he would convert the winning bid into bitcoin and donate it to GiveDirectly for its Africa Response, and he tweeted his receipt Monday afternoon. GiveDirectly is a charitable organization which gives money directly to people living in poverty.

Auction winners on Cent get a digital certificate of the tweet with their purchase, which is “unique because it has been signed and verified by the creator.” Dorsey receives 95 percent of the sale price, and Cent gets 5 percent, according to its FAQ.
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