They're paying thousands for celebs to push it to people. Some nfts are cool and all, but a lot of the ones the "influencers" are pushing are straight up scams. There was just recently a $70 mil scam... I swear these people are ruining something that had so much potential
Eric Andre too. Posted about NFTs on his instagram and made an incredibly petty response to people complaining (rightfully) about how they’re bad for the environment. He’s all in on it, pretty disappointing.
The funniest shit is that there are tons of people who think that if they buy an NFT with for example Batman on it, that they now own the rights to the franchise and are legally allowed to make Batman content.
Also goes to show the people making these things are either completely ignorant of copyright law or intentionally misleading people. A lot of these NFTs are using copyrighted content without an assignment/publishing rights and they're like "well it's on the block now so..." So yeah get hit with a lawsuit.
The Dune fiasco was so much dumber than that it baffling: 1, It's not even the Dune book, but an art book for a cancelled film. 2, They thought it was the only copy so their original plan is to burn the book and make it available in NFT only (there were several original copies still in existence, not to mention reprint iirc) 3, Also the digital copy of the book is available here:
didn't one big example was the guy who bought that rare dune book and all of the sudden thinking he owns the IP? He got called out for being an idiot and not understanding the basic of how copyright works
It's just a token that proves ownership and can't be faked/taken away on a whim. Don't think about it as shitty digital art because that's just 1 dumb use case. The metadata is the important part.
It is quite simple: you take an image file, assign it a unique identifier, sell that identifier to an easy mark and encode ownership of it onto a blockchain, creating a permanent record that they own this specific id. The id itself is of course completely useless.
The best way I understand it is to think of it as art. Art has no inherit value save for the fact that people believe it is worth that much. The down side to NFTs is that its all virtual and not easy to display. Additionally, it has been show that NFTs are really easy to counterfeit unlike real art.
the crypto marketing and influencers were ALL pumping scams. No fucking thanks is right. Source: I work full time in NFTs and 99% of what is marketed is get-rich-quick schemes by the creators who have no interest in sticking around to build a brand.
Artists selling NFTs of their art is one of the only ways I can think is a "legitimate" way to use NFTs (there are others I know, but this is one area I spend a lot of time in) - but to me they're extra dumb because of the energy usage needed to mint is helping destroy the planet so no thanks.
Not all crypto is a scam. i know i sound like the scammers but really the main few are the ones that should have anything invested in. the rest are a gamble or a scam really
It straight up is a pyramid scheme lol. It walks like a white soccer mom, dresses like a white soccer mom and talks like a white soccer mom? It's a MLM scheme, but this one is made for the bros
It's for money laundering. Why open a cash business to clean drug/crime money, for example, when you can simply transfer and cash in crypto currencies using NFTs as the product.
Know a guy who bought tons of NFTs thinking he was gonna make big time short term profit but now regrets it as no one has offered him anything for them.
Unfortunately your friend is at the bottom of the pyramid, not the top. He's going to end up with worthless, intangible beanie baby tokens when the bubble pops and everyone figures out its a scam based on hype and tech drivel.
My favourite of people that were interested are some of the artists I follow on twitter.. They sold some NFTs of their art for like $2000+ but are also selling $30 posters of it.
Nothing "tangible," but anecdotally, the first time I heard about NFTs was a little over a year ago when Beeple's combo NFT sold at auction for $70mil (first NFT ever sold through a major auction house). That coincided perfectly with the gamestop/wallstreetbets/robinhood saga, and for a moment, everyone was talking about alternative investing, crypto, and NFTs.
The hype is slowly dying down, there are metrics one can use to accurately confirm it like Google search data or Twitter trends but I don't have the time to dive into it right now...
The average NFT sale price fell from ~$5,000 at a peak last November to $2,500 in early March. Trading volumes on OpenSea fell from about $250 million in February to $50 million in March. Definitely not going well.
I cannot plug Folding Ideas / Dan Olsons NFT video enough, shit is literally movie length but by the end of it you end wanting to burn the whole bitch to the ground.
Also can't recommend this video enough. Not only is it highly educational on the topic but it's really entertaining. Dan has made a craft out of what he does and he and the team deserve so much respect for the work they put into this stuff.
The goal wasn't to make the whole thing viable long term, they just needed enough interest to pass the hot potato. The pyramid collapsing in some other sucker's hands is just fine.
If you’ve got to spend millions trying to convince people something is a good investment because it’s not immediately apparent it’s a good investment, then a it’s probably not a very good investment
I mean to be fair. I only use Reddit and the only time NFT's are mentioned is in a negative light. I felt it best to join the bandwagon and hate on NFTs without any knowledge at all. It's working great.
The very first time I heard about NFTs and had to look up what they were, everyone was ripping them a new asshole. That was a fucking world record for me.
it's definitely not over, things come in waves now. The public can't hold their attention on something for more than 45 days. But trust me, there is people workin they ass off to make your life even more miserable with technology.
My brother called me up to boast about his first 60 dollar NTF purchase. I asked him to explain how they increase in value over time. His response was that he didn't know but he tried to explain NFTs as a transformative technology by comparing them to the printing press and internet. Dude got mad when i asked if there was anything else to talk about since he didn't know what he was talking about.
OK cool. I was away for the weekend. Are NFTs dead dead now? That'd be some consolation, considering I'm back home now and have to go back to real life. NFT peeps losing their ass would just brighten my week considerably.
Right after GameStop, it seemed like all news sites were hyping up TopShot NBA basketball card NFTs trying to ride the wave of hype, but it’s not like something ever lead to people making money off it.
the promise and premise of NFT's were cool in niche uses if either the actual media was not reproducible or if the buyer could see an ROI on viewings, purchases, etc.
Was telling my friend that this is the modern day equivalent of the Dutch tulip mania to me. Pure speculation with no inherent value but people definitely made $$$. Just don’t be the one left holding the bag when the song ends.
Do think there's a place for crypto? Yes. Do I think that even 1% of the different cryptos and crypto related schemes out there are going to last for the next decade? No.
I got a free NFT with a VIP concert ticket I purchased this week and I have no fucking idea what it is, STILL, and now I own one. And I have no idea what to do with it.
It's dumb because people use it as a get rich quick scheme instead of just being reasonable. There are so many use cases for NFT's then just JPEGS. I understand the sentiment though alot of it is just stupid jpegs.
I really wish Snoop hadn’t fallen for this shit… I was stoked when I heard he took over for death row but like, he’s just selling ape NFTs? I dunno who even buys themZ
It’s the art of the biggest fool. Basically people pay a stupid amount for something hoping that people will pay an even dumber amount. It’s like the modern art game but takes up less space. It’s a place for people with money to park and hide and exchange and laundry it if money is obtained illegally. Get a divorce split everything accept that 25 million bitcoin and NFT wallet in your pocket. Or 5 million dollar watch collection.
I could see this bullshit was a scam from MILES away. Even the concept just sounded stupid. "Buy this digital picture for 100k lol". Where's the tangibility???
NFTs in and of themselves aren't bad. They can actually be really useful in the future if the law backs it up and it can be used in court as proof of ownership. Unfortunately, up until now it's mostly been abused by influencers and given a bad name
Yeah, I'd like to say I wouldn't, but I am broke as hell. If I could doodle a 2D cartoon of my feet or something and get $50,000 you bet your ass I'd doodle that picture.
Celebrities have ruined the image of NFTs. Everyone thinks it’s just pictures of apes and weird dudes that goes for thousands of dollars. While that’s true, that’s not the only nor main function of an NFT.
The really annoying thing about this NFT wave is how horrible of a representation it is of the underlying technology. NFTs are not JPEGS, they're an immutable record of ownership of the JPEG, which means jack shit because all the NFT contains (essentially) is a link to the JPEG.
There must be slight buyers remorse after buying NFTs. The non-fungibility of the NFT inherently renders them valueless!! It just good for bragging rights. 😬
hello, for those looking for a serious project with a big team there is Neoland, a very promising Monopoly p2e the mint is coming soon. Only 200 WL left DYOR this big project 🔥🔥
They got Kim K, Reese Witherspoon, Justin Bieber e.t.c plugging this shit.
They're paying thousands for celebs to push it to people. Some nfts are cool and all, but a lot of the ones the "influencers" are pushing are straight up scams. There was just recently a $70 mil scam... I swear these people are ruining something that had so much potential
Matt Damon out here making me wanna climb mountains & explore the cosmos & shit.
Brie Larson too
Kim doesn't give a SHIT about her fans
Shoutout to Matt Damon for calling me a coward if I didn’t buy his digital funbucks
My friend was invited to do a live Twitter event with Ozzy and Sharon Osbourne discussing their NFT Bats. Weirdest shit ever.
Snoop is in on it too. He bought out Death Row Records just to pull the Chronic and Doggystyle off of spotify and turn DR into an "NFT label".
And uncle Snoop
Tony Hawk... sorry.
Eric Andre too. Posted about NFTs on his instagram and made an incredibly petty response to people complaining (rightfully) about how they’re bad for the environment. He’s all in on it, pretty disappointing.
If celebrities have commercials telling you to buy crypto, it’s too late and they are just looking for bag holders now
Don’t forget Matt Damon
Matt Damon was in on the crypto stuff too?
For all we hated him in middle school I forgot about Bieber.
What shit?
Mike Tyson has a couple things I believe
And Ashton Kutcher and Mila Kunis.
Nobody will see this but I’ll help anyway
The funniest shit is that there are tons of people who think that if they buy an NFT with for example Batman on it, that they now own the rights to the franchise and are legally allowed to make Batman content.
Also goes to show the people making these things are either completely ignorant of copyright law or intentionally misleading people. A lot of these NFTs are using copyrighted content without an assignment/publishing rights and they're like "well it's on the block now so..." So yeah get hit with a lawsuit.
The Dune fiasco was so much dumber than that it baffling: 1, It's not even the Dune book, but an art book for a cancelled film. 2, They thought it was the only copy so their original plan is to burn the book and make it available in NFT only (there were several original copies still in existence, not to mention reprint iirc) 3, Also the digital copy of the book is available here:
every day, I thank God that he did not make me that guy
Josh Strife Hayes made a great video on NFTs as did Folding Ideas.
Poor souls would be better finding out what works are part of the public domain.
I talked to guys who started an NFT project who thought this was how it worked.
The funniest shit is people think the picture is the NFT when an NFT is just a digital receipt.
I think that they bought an NFT of the script. Utterly stupid of them.
didn't one big example was the guy who bought that rare dune book and all of the sudden thinking he owns the IP? He got called out for being an idiot and not understanding the basic of how copyright works
Title pretty fire tho !
Not For Thinkers
You wanna buy an NFT of the title?
I been trying to read up on it. I just don’t understand it.
Money only has value because people agree it does. Same for nfts.
I recognize that I'm sending you the link to a feature-length YouTube video but this is the clearest explanation of the entire system I've ever seen.
If you have a dictionary and 2 and a half hours open, I recommend Folding Ideas's
It's just a token that proves ownership and can't be faked/taken away on a whim. Don't think about it as shitty digital art because that's just 1 dumb use case. The metadata is the important part.
It is quite simple: you take an image file, assign it a unique identifier, sell that identifier to an easy mark and encode ownership of it onto a blockchain, creating a permanent record that they own this specific id. The id itself is of course completely useless.
You're better off joining Voyager digital. They offer 9% on a stablecoin called USDC. Backed 1:1 with the US Dollar.
It’s like adopting a star but you get a .jpeg instead of a piece of paper mailed to you.
The best way I understand it is to think of it as art. Art has no inherit value save for the fact that people believe it is worth that much. The down side to NFTs is that its all virtual and not easy to display. Additionally, it has been show that NFTs are really easy to counterfeit unlike real art.
Do you remember rare Pepes? That but real
It's just the newest version of
the crypto marketing and influencers were ALL pumping scams. No fucking thanks is right. Source: I work full time in NFTs and 99% of what is marketed is get-rich-quick schemes by the creators who have no interest in sticking around to build a brand.
[удалено]
Artists selling NFTs of their art is one of the only ways I can think is a "legitimate" way to use NFTs (there are others I know, but this is one area I spend a lot of time in) - but to me they're extra dumb because of the energy usage needed to mint is helping destroy the planet so no thanks.
The reason crypto currencies even need to advertise is because it's a product, not a currency.
The reality is it was exchanges, not the actual cryptos doing the advertising.
We’ll put!
Imagine a SuperBowl commercial for money.
Nxggas jumped on it like cray. Almost as if we live in a society 🤷🏽♂️
I feel obligated to relive this music video
[удалено]
Do this next time a crypto bro won't stfu
No need to be ableist.
Not all crypto is a scam. i know i sound like the scammers but really the main few are the ones that should have anything invested in. the rest are a gamble or a scam really
I use crypto to buy drugs, it lets me tell my parents I'll be safe once the feds come for me.
Some things are just too obvious lol. A ton of crypto stuff also smells like pyramid scheming
Yeah it's one part money laundering, one part pump & dump
It straight up is a pyramid scheme lol. It walks like a white soccer mom, dresses like a white soccer mom and talks like a white soccer mom? It's a MLM scheme, but this one is made for the bros
Did the bubble pop already? I missed it lol
Turns out there's a finite number of people looking to launder money.
Anybody that "buys" an NFT is just f'ing stupid.
Ill be stupid all the way to the bank (if only someone will buy this monkey drawing that I just payed half a million for.)
It's for money laundering. Why open a cash business to clean drug/crime money, for example, when you can simply transfer and cash in crypto currencies using NFTs as the product.
Title is
Hell nah im not buying shit that a celeb says is good. You got famous cuz you’re hot!
I thought part of the entertainment of celeb watching is watching them make poor financial decisions that you would not and cannot emulate.
Ive traded significant crypto over the past 5 years and NFTs were always and nothing but, a quick scam
Know a guy who bought tons of NFTs thinking he was gonna make big time short term profit but now regrets it as no one has offered him anything for them.
Unfortunately your friend is at the bottom of the pyramid, not the top. He's going to end up with worthless, intangible beanie baby tokens when the bubble pops and everyone figures out its a scam based on hype and tech drivel.
My favourite of people that were interested are some of the artists I follow on twitter.. They sold some NFTs of their art for like $2000+ but are also selling $30 posters of it.
We call those people suckers
Are NFT's "over"? like what is a tangible thing you can point to that says they are "over"? (I am hoping that's the case)
Nothing "tangible," but anecdotally, the first time I heard about NFTs was a little over a year ago when Beeple's combo NFT sold at auction for $70mil (first NFT ever sold through a major auction house). That coincided perfectly with the gamestop/wallstreetbets/robinhood saga, and for a moment, everyone was talking about alternative investing, crypto, and NFTs.
The hype is slowly dying down, there are metrics one can use to accurately confirm it like Google search data or Twitter trends but I don't have the time to dive into it right now...
The average NFT sale price fell from ~$5,000 at a peak last November to $2,500 in early March. Trading volumes on OpenSea fell from about $250 million in February to $50 million in March. Definitely not going well.
I still don’t get the nft craze
I cannot plug Folding Ideas / Dan Olsons NFT video enough, shit is literally movie length but by the end of it you end wanting to burn the whole bitch to the ground.
After years of trying to engage people on
Also can't recommend this video enough. Not only is it highly educational on the topic but it's really entertaining. Dan has made a craft out of what he does and he and the team deserve so much respect for the work they put into this stuff.
Heeey thanks for sharing this. I think this dude is pretty well spoken and entertaining.
The goal wasn't to make the whole thing viable long term, they just needed enough interest to pass the hot potato. The pyramid collapsing in some other sucker's hands is just fine.
If you’ve got to spend millions trying to convince people something is a good investment because it’s not immediately apparent it’s a good investment, then a it’s probably not a very good investment
I mean to be fair. I only use Reddit and the only time NFT's are mentioned is in a negative light. I felt it best to join the bandwagon and hate on NFTs without any knowledge at all. It's working great.
You know that JPEG you saw online for free earlier today? Okay now, what if you could pay for it, to "own" it??
The very first time I heard about NFTs and had to look up what they were, everyone was ripping them a new asshole. That was a fucking world record for me.
They got Creed from the office doing it rn
[удалено]
What use case is it solving?
If I want to gamble I'll rather visit a casino, at least there they are transparent with the fact you are being fucked over
Anytime something comes out of a celebrity’s mouth my brain turns off
Nfts are especially stupid. They're just a regular, shitty pump & dump scheme that someone sprinkled glitter on
it's definitely not over, things come in waves now. The public can't hold their attention on something for more than 45 days. But trust me, there is people workin they ass off to make your life even more miserable with technology.
Me knowing all I did was mock people for falling for a scam: I'mdoingmypart.gif
My brother called me up to boast about his first 60 dollar NTF purchase. I asked him to explain how they increase in value over time. His response was that he didn't know but he tried to explain NFTs as a transformative technology by comparing them to the printing press and internet. Dude got mad when i asked if there was anything else to talk about since he didn't know what he was talking about.
I will always and forever be NFT phobic
OK cool. I was away for the weekend. Are NFTs dead dead now? That'd be some consolation, considering I'm back home now and have to go back to real life. NFT peeps losing their ass would just brighten my week considerably.
Idk… about half of the people I work with fell for this shit.
I want to learn how to make NFTs because I don't feel bad about ripping off rich "art" collectors.
Right after GameStop, it seemed like all news sites were hyping up TopShot NBA basketball card NFTs trying to ride the wave of hype, but it’s not like something ever lead to people making money off it.
the promise and premise of NFT's were cool in niche uses if either the actual media was not reproducible or if the buyer could see an ROI on viewings, purchases, etc.
Was telling my friend that this is the modern day equivalent of the Dutch tulip mania to me. Pure speculation with no inherent value but people definitely made $$$. Just don’t be the one left holding the bag when the song ends.
This dude prance gets reposted here way too often
Do think there's a place for crypto? Yes. Do I think that even 1% of the different cryptos and crypto related schemes out there are going to last for the next decade? No.
Here I am with a full-time job in the Web3, crypto space working on a project right now involving NFTs. Guess I missed the memo 😳
In what world are nfts a passing fad? I feel like I hear more about this shit every day. And crypto is definitely here to stay. Just ignore it.
Lmao, "cultural lifespan of a TikTok". 🤣
Anyone else notice all the guys rushing in to defend NFT are scarcely active and most share NBA as top sub?
Token burning party to increase the hodlings of C-list alt shitcoins.
It was popping off right after the doge craze. They were trying to ride the confusion and hype of doge.
Uhh... NFT's are still very very very much a thing.
there are like 3 people still into them.
I got a free NFT with a VIP concert ticket I purchased this week and I have no fucking idea what it is, STILL, and now I own one. And I have no idea what to do with it.
Everything seems dumb when it's new. Just like Bitcoin.
How long until Crypto.com Arena needs to be renamed?
Ahh, when FUD influences public opinion. Keep on bringing them prices down.
Ever since Bitcoin went crazy. Everyone is looking for the next bitcoin. From crypto to this dumb ass NFT shit.
This is going to age really well.
How do I buy the NFT of this meme?
NFT: Nope, Fuck This.
Maybe if I even understood what it was lmao
The one person I know that still shills that shit recently made me aware that they're an anti-vax Trumper. Why am I not surprised.
Well done team!
Attatching an NFT to a digital game and allowing digital games to resold on a marketplace would an excellent use of the technology.
It's dumb because people use it as a get rich quick scheme instead of just being reasonable. There are so many use cases for NFT's then just JPEGS. I understand the sentiment though alot of it is just stupid jpegs.
Just a new flavored ponzy scheme.
Not today, pyramid schemes. Not today.
I really wish Snoop hadn’t fallen for this shit… I was stoked when I heard he took over for death row but like, he’s just selling ape NFTs? I dunno who even buys themZ
That's why people stress to buy Bitcoin, not "crypto" which often only have a staying power of a few months or years.
Oh the NFT thing had passed by finally? I'm old enough to be perpetually out of all loops, so I need reddit to inform me of these things.
I still don't know what it is.
The amount of people who see nfts as just gifs is mind boggling. It sounds like when people first heard of the internet honestly.
No price point lol
I’m feeling lonely, any of you Forex scammers still around………….🦗🦗🦗🦗🦗🦗🦗🤷🏾♂️😆
It’s the art of the biggest fool. Basically people pay a stupid amount for something hoping that people will pay an even dumber amount. It’s like the modern art game but takes up less space. It’s a place for people with money to park and hide and exchange and laundry it if money is obtained illegally. Get a divorce split everything accept that 25 million bitcoin and NFT wallet in your pocket. Or 5 million dollar watch collection.
I could see this bullshit was a scam from MILES away. Even the concept just sounded stupid. "Buy this digital picture for 100k lol". Where's the tangibility???
Is this sub just an archive of every one of this guys tweets
Nah they just want you to shy away from decentralized markets.
They are dumb in general I think. Some have value though.
USD is a crypto
I get crypto, but i still don't get NFTs...i be like huh???
https://www.youtube.com/watch?v=YQ_xWvX1n9g
NFT was the newest pyramid scheme, just like corporate structure in general, but we luckily recognized it
Remind me of this post in 2 years
NFTs in and of themselves aren't bad. They can actually be really useful in the future if the law backs it up and it can be used in court as proof of ownership. Unfortunately, up until now it's mostly been abused by influencers and given a bad name
If there are this many suckers who are investing in NFTs, could I make a profit minting NFTs and selling them to these suckers?
Did we tho
Yeah, I'd like to say I wouldn't, but I am broke as hell. If I could doodle a 2D cartoon of my feet or something and get $50,000 you bet your ass I'd doodle that picture.
Yeah the silence from them over the past month has been great, really loving how literally every corner of the internet just bashed them to death
Snoop is gonna be putting all his work into nfts
Celebrities have ruined the image of NFTs. Everyone thinks it’s just pictures of apes and weird dudes that goes for thousands of dollars. While that’s true, that’s not the only nor main function of an NFT.
online sports betting can fuck off, too
The really annoying thing about this NFT wave is how horrible of a representation it is of the underlying technology. NFTs are not JPEGS, they're an immutable record of ownership of the JPEG, which means jack shit because all the NFT contains (essentially) is a link to the JPEG.
on god bruh. the saddest part to me was watching all the rappers try to explain what a nft is and how it works. knowing they dont know nothing lmaoo
I even got a text survey. They were normal political polling questions and then suddenly 25 versions of HOW DO WE MAKE YOU LOVE CRYPTO?!?!
There must be slight buyers remorse after buying NFTs. The non-fungibility of the NFT inherently renders them valueless!! It just good for bragging rights. 😬
Just buy art from established artists instead of shitty cartoons...
hello, for those looking for a serious project with a big team there is Neoland, a very promising Monopoly p2e the mint is coming soon. Only 200 WL left DYOR this big project 🔥🔥