Poll of the Day > NFTs are so weird. Do you know what they are?

(+) Yeah! (+)

Like even after reading exactly what they are it is a difficult thing to wrap my head around.

https://www.npr.org/2021/03/05/974089381/whats-an-nft-and-why-are-people-paying-millions-to-buy-them

Like if Im getting it right its basically just a code you have access to that you can link to others, that proves that you are the official person who paid to have the unique code for a particular digital image or thing. Even though anyone can see the image or song or video whatever it is.

Basically it is stupid but the things are actually valuable because enough people have seemingly agreed that Yes, this is somehow valuable. and are paying hundreds or thousands of dollars for these things.

Part of me thinks that people have lost their minds and part of me is like holy shit this is some new level of consciousness shit I gotta get in on the ground floor.

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I only heard of buying Dorsey's first tweet for over 2.5mil lol

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DANTE20XX posted...

I only heard of buying Dorsey's first tweet for over 2.5mil lol

its so bananas

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shit if someone wanted to pay me for the specific rights to my account i'd say let em

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helIy posted...

shit if someone wanted to pay me for the specific rights to my account i'd say let em

would you accept eight thousand dollars

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i could see myself accepting eight thousand dollars, yes

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helIy posted...

i could see myself accepting eight thousand dollars, yes

ok so now weve established that the rights to hellys account are $8000 USD and we can build more data from that starting point

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Sounds like a waste of money to me, like buying a star.

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theyre like tokens except you cant funge them

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FuriousFox posted...

Sounds like a waste of money to me, like buying a star.

more like buying the rights to a code attached to an image of a star

so its even dumber

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anyway the dumbest thing about them is that they literally are fungible. like the author could sell you the token, and then just make another token for the same piece of art

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Mead posted...

ok so now weve established that the rights to hellys account are $8000 USD and we can build more data from that starting point

$8000 and you buy the entire rights to the name helly

it's a good deal tbh

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It's like that IPhone app that was like a thousand bucks and didn't do anything, you'd just show it off like "look at me, I have a lot of disposable income and am willing to make poor financial decisions."

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Zareth posted...

It's like that IPhone app that was like a thousand bucks and didn't do anything, you'd just show it off like "look at me, I have a lot of disposable income and am willing to make poor financial decisions."

I dont think a ton of people actually bought that though

and if they did wow what a bunch of dumbasses

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Sounds like the digital version of the physical art market.

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Seems like a scam for idiots

But it's probably just a money laundering thing instead

NFTs have something to do with blockchain. As usual, blockchain is basically a giant grift, that normal people never need to worry about.

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Mead posted...

Basically it is stupid but the things are actually valuable because enough people have seemingly agreed that Yes, this is somehow valuable. and are paying hundreds or thousands of dollars for these things.

cryptocurrency in a nutshell

Yeah, I don't really get it. I hear some people are selling unboxing Pokmon card videos. Wouldn't buying the card be cheaper?
@_@

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Money laundering

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Clench281 posted...

Money laundering

Yea that's a big reason for many grifts to exist.


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So people are selling proofmark tokens... doesn't that defeat the purpose of the token?

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I've been reading a bit about them in the last few weeks as a lot of musicians have recently been trying to capitalize on the trend.

Mead posted...

Basically it is stupid but the things are actually valuable because enough people have seemingly agreed that Yes, this is somehow valuable. and are paying hundreds or thousands of dollars for these things.

So it's basically just digitalized modern art. Modern art doesn't fetch a ridiculous price tag because it's actually worth that. It's a way for rich people to invest and transport their money (this was a major plot point in Tenet, if you've seen that). This is coming from someone who actually likes and appreciates a lot of modern art that the average person can be dismissive of. If the NFT idea takes off how they seem to want it to then this is just the next step. It functions almost the same exact way as modern art down to being publicly exhibited while still being "owned" by a private party. Digitalization just means it's more fluid and more immune to physical damage.

blu posted...

cryptocurrency in a nutshell

*currency in a nutshell

The US dollar has as much intrinsic value as the Bison dollar. People value it because other people recognize it's value

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bump

captpackrat posted...

Yes please do this crypto-freaks, fuck with corporate bullshit and leave starving artists alone.

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