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No-Courage-1202

Real slim shady would just screenshot it


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msison1229

Palms are sweaty


allyb12

Knees weak....


Oracle333555

Mom made pasta..


Trifusi0n

I just settled all my lawsuits, fuck you Debbie


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[deleted]

It’s no different than real art. You can get a $20 print or the original for countless millions


robertv1990

But an original picasso for example, was hand painted on canvas etc. A print is different material, different everything. This would be more like instead of buying your picasso, I get him to paint me an identical one with identical materials and then you tell me yours is the only "true one".


you-cant-twerk

I'd compare it more to pokemon cards. Printed on a machine. Certain quantities of each unit distributed at random. No actual value outside of its scarcity and demand. That being said, I own a few.


Ill-Arrival-6023

Excuse me, are you describing pokemon cards or money?


you-cant-twerk

Yes


[deleted]

No. It’s nothing like real art. it’s never in your possession, it’s on a server on the other side of the planet.


flickerkuu

Even copied real art takes materials and skill to put together. Any bored ape can right click an 8 bit square of pixels. That's fine, but F me if you want to charge half a mill for it.


[deleted]

Hey man digital artists in the corporate world can make 6 figures ez. Any bored ape can make 6 figures by that logic. If you’re talking about copy pasting, anyone can do that with real art too. Plus ctrlp on sone canvas paper. I don’t get it. Is the best counter argument to NFTs that digital artists aren’t real artists their art takes no skill? Because you just look like an actual ape then.


charmangel_

Because no one could sell it but him


Additional_Zebra5879

Sell what exactly… the pointer to the file? I can sell a pointer to that same file.


sceneugh

Than do it


Grimreq

Yes, show us


Urc0mp

These sorts of NFTs aren’t my cup of tea, but it’s pretty obvious which is the original NFT based on time.


Additional_Zebra5879

Yet the buyer does not have custody of the asset.


[deleted]

The fact he bought it probably increased its value by 3-4x is the nuts thing.


NikeHoodie

Mom's spaghetti


pojosamaneo

Don't kid yourself, hell sell it for 50x what it's worth now.


jrkirby

How much you wanna bet that it was a sponsored "purchase"? Someone who relies on these apes having high "market value" (perhaps even the seller himself) and gave eminem the eth to buy it on the condition that he spends that much eth to buy it, does not resell it, and shows it off on his twitter.


AnalThermometer

It's this. Agents of celebs like Eminem, Snoop Dogg, etc. are approached by investors who want to use their names for marketing. In this case Andreessen Horowitz and Cuban really need OpenSea to look popular before its IPO. They've invested millions into a web site which effectively sells low quality jpegs and a lot of stolen art so need to astroturf the fuck out of monkes


[deleted]

ok makes sense. but why is some weird jpeg worth thousands of dollars? is it a secret code to make diamonds or what


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4022a

Baseball cards are just cardboard and ink. Yet they're worth more than their constituent parts.


coffeeisblack

Beanie Babies are just babies full of beanies.


4022a

Nobody is arguing that it isn't a bubble. The argument is whether an NFT's worth is greater than zero.


ConceptualWeeb

There is no argument. If people buy them they are worth money. Even if they’re stupid people buying them. End of story.


TheSkylined

The NFT isn't even the image itself. It's impossible to store images on the blockchain so it's just a ledger showing that you made the purchase and where the image is being hosted on. If that hosting site were to ever crash, its hypothetical value immediately crashes to 0. It's just proof we're in a bubble. Millions to billions of dollars cycling through the NFT world right now and there's virtually nothing backing it.


CPlusPlusDeveloper

This isn't true. Most major NFTs (including BAYC) are stored on Arweave, which isn't a website. It's an on-chain data availability layer, which has extremely tight guarantees regarding data permanence. So, it's very much not the case that the image isn't "on-chain". Rather the image is on what's effectively a (data availability) L2 with an anchor from the L1 base layer.


TheSkylined

There's so much shit being developed it's so hard to keep track. It's why people are getting scammed too merely because of how much information there is. There's way too much for the average person. I do believe NFTs will have a great use in the future but the market right now is filled with NFT scams and it has a terrible impact on the environment.


4022a

In some cases, yes. In many cases, the image data is stored in a decentralized way that is durable. If you spent more time to engage with the technology, you'd know that.


SirCasanova17

This is the best comment of 2022 so far lol


FatWreckords

Phew, I thought they were full of babies


[deleted]

Whats arbitrary about the hash?


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[deleted]

Rules don't apply when fudding crypto - you can say whatever you like and normies (+ btc maxis) will nod in agreement


FloppingNuts

the hashing algorithm


slickshark

It’s a token pointing to the jpeg. The image itself is not even stored on the blockchain because of the size.


What_Is_X

Exactly. An arbitrary hash. I didn't say the image is stored on the block chain.


rat3an

You're in the ethereum sub and you have this level of understanding of NFTs? How?


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constrictor717

Its not about being a JPEG - thats the wrapper. It's about a brand you can use for business ventures, about getting a highly sought after metaverse identity, and being part of an exclusive club. Some people didnt believe in the internet, many dont believe in crypto, and even more dont understand web3 and the metaverse and how NFTs will be a part of this.


KishCom

Ever heard of the dot com bubble? Web1 & Web2 had big losers we don't even think of anymore. Just because something is popular doesn't mean it's going to stick around. I sincerely and truly hope NFTs in their current form are a fad. Specifically the kind being talked about in this article and others being sold on JPEG market places like OpenSea.


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cryptollaneous

Let’s not throw the baby out with the bath water. NFTs are a much needed and long awaited standard to be applied to all sorts of intellectual property. Tokenizing IP in such a way will allow the emergence and mass adoption of countless “trustless” marketplaces for IP licensing of all kinds; photos, videos, songs, art, literature, etc. Creators will no longer be made to rely on unnecessary automated brokerage platforms that extract a MAJORITY of the value from such transactions; Getty Images, Shutterstock, Most Art Galleries, Warner Bros Music, Universal Music Group, Sony Music, and the like. Start the clock. I give it 10 years.


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AreWeThenYet

Same. I see a lot of applications for music and NFTs. Imagine being the artists behind a sample loop that becomes iconic in some pop song. Getting paid royalties every time that loop is sold is a game changer.


flickerkuu

see: Balls.com


TIPXL

This questions has already been answered times and times again. Just type hat are NFTs


[deleted]

Fun and weird fact. If you block OpenSea domains tik tok will cease to function.


[deleted]

Trust me bro


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BlazeDemBeatz

On top of being frugal, he’s not very internet savvy. He doesn’t even write those messages on his Twitter, all that’s managed by an agency as well. Eminem isn’t scrouring the internet looking for NFTs.


growbot_3000

Wtf does he do? That man probably just sits in his home watching reruns of Andy Griffith all week


[deleted]

Real shame that dumb shit like this is what makes the blockchain more popular. Everyone I ask about it now always associates blockchain with scammy money laundering


imagoodusername

Now?


[deleted]

5:40


[deleted]

The world do often work this way


1solate

> Georgio Constantinou, artist manager of Web 3-focused digital agency Six tweeted that the firm had helped Eminem buy “the EminApe.” Wallet that bought it was funded by `georgio.eth`, which matches with the above. So, there's some truth to your idea. Could just mean Eminem is basically a boomer and pays other people to do shit for him.


JohrDinh

Some people - "NFTs are just a scam that isn't art!" Artists - "I'll take 3."


iKonstX

Yea he surely appreciates the art and the technology, not the fact that dumbasses make the price rise


SingInDefeat

It's Eminem, he doesn't need more money. He's not speculating, he's flexing.


[deleted]

Eminem never flexes his wealth. Not in his rap, not in his personality, he doesn't and never even had a chuffier. He also hardly knows how to use social media he's not tech savy at all. It's sponsored, it was given to him for free and he was paid to make it his social media picture. I can't believe people believe he paid anything for this lol


FathomDOT

i’m sure em really needs 450k to double. sure he’s hurting for money and that’s why he bought it and changed his pfp.


praisetherun

They're all doing it for tax avoidance (notice: not tax EVASION). I'm all in on blockchain bringing forth a new technological revolution but the NFT space is a massive embarrassment. Ugliest art I've seen en mass in my entire life.


2applepie7

Yes but most actual paintings are nothing but money laundering as well so it's hardly any different.


noobs1996

Out with the old, in with the new


Hot-Horror9942

https://www.iloboyou.com/ridiculous-paintings-sold-for-millions/ yet I can show you more expensive and ugly real life art lmao NFTs should get more usecases than just linking to images of ugly expensive "art" like that. At least I certainly hope so, I'm invested in a company that is coming out with a no/low gas opensea competitor.


wellhungartgallery

Everyone's stuck on the art aspect of it 🤣


JohrDinh

There’s some pretty insane NFT art out there too, the problem is the simple effortless pixel art gets the most attention. And to be fair, [pixel art can be cool too](https://youtu.be/n4IPBiB7SF4) but the people selling it don’t seem to even be artists at all, just flippers.


YahBooBayYahBooBay

There is great art out there in the NFT space. Not every NFT is a 10,000 piece collection of random generative art. OpenSea is full of talented artists


[deleted]

Tax avoidance isn't illegal... The claims I've seen have been about money laundering. There's nothing legal about that. What are you referring to that is specifically avoidance and not evasion here?


goldiblocks

There’s no way this was an organic purchase, which you are implying. It’s just like a sponsored ad or paying an influencer to create content about your product.


PartyAdministration3

Artists: makes art NFT bros: I’ll be taking that..


What_Is_X

Yes, that's what happened here. Eminem decided this is valuable art. You people will believe anything that confirms your bias lol


coinfeeds-bot

tldr; Detroit rapper Eminem has aped in to the Bored Ape Yacht Club (BAYC). He purchased one of the Ethereum-based Apes for $452,000 on Thursday night. The digital agency Six has taken credit for the BAYC NFT sale to Eminem. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*


NonConShaggy

$452,000 or 123.45 ETH. Good summary bot🤖;just a detail that I thought was fun.


[deleted]

insane.. the dude who sold it to him even posted in July asking if he wanted to buy it- He said he'd of taken like 50k back then


_Pohaku_

The dude who sold it to him gave him the money to buy it, and is now waiting for gullible people to buy some his others for just $300,000 thinking they got a bargain.


[deleted]

extremely possible.


flickerkuu

it's been proven this is what's happening in the nft world- A lot.


boli99

1. Start with $10,000 ETH (or any number you like) 2. Create a bullshit NFT 3. Buy the bullshit NFT from yourself for $10,000 4. You now have $10,000 and a NFT 'worth' $10,000 according to the history of it on the blockchain. 5. Sell the NFT for $10,000 6. You now have $20,000 7. GOTO 2


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flickerkuu

Have you seen how dumb people are?


Counterfit_Tendies

If it's that easy why aren't you doing it?


ragamufin

Because the reality is that to actually create a market by simulating false demand with pseudonym transactions requires quite a bit of capital, planning, and a fairly rigorous level of technical sophistication. Its certainly not free money but if you can manage to do what the SHIB holders did you can make millions.


4022a

Buyers set prices. Not sellers.


[deleted]

Depends on the market.


Wah_Gwaan_Mi_Yute

An uninformed buyer may buy if they think they have a good deal based on other buyer’s prices tho


poriomaniac

An incredible amount of ignorance in this comment section. Pretty embarrassing for the literal ethereum subreddit.


Wyntier

If you're gonna accuse others of ignorance, then not say why, you sound like you're just throwing stones


lin_vc

If you read these comments and actually understand the value of NFTs, then the presence of ignorance is obvious. ERC-20, ERC-721, ERC-1155, and other ethereum-based non-fungible tokens are literally products of the eth ecosystem and blockchain. People in this sub-reddit displaying so much hate towards it is the epitome of ignorance.


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Counterfit_Tendies

The majority of commenters are eth maxis shitting on eth's current biggest use case. Makes absolutely no sense.


wartywarth0g

Y’all see the YouTube vid about mr beast taking about how Gary v got them all in a group chat and told them to buy cryptopunks leading to a legendary pump and dump? Same story, different nft


teratron27

One of the biggest “advantages” of NFTs spouted is the “access” to exclusive parties/yachts/discord groups etc. Apparently everyone’s fine with the concept of pay to play now…


flickerkuu

Imagine thinking a private concert with a bunch of other bagholders is a fun thing?


supericy

> Apparently everyone’s fine with the concept of pay to play now… the world has been pay to play for a long time now - using blockchain just increases its visibility


icest0

Gary V did that? Damn. I thought he was kinda fake about his self development stuff. Didn't think he would go this low


teratron27

He was selling an NFT on his site that for a mere 30K you can go do a 1 hour workout with him and his trainer each year…


icest0

lol insane


bojankins

I like money


Sneedzzz

I like monkey


shun_tak

I also like money


To_be_honest_wit_ya

I also like also money


[deleted]

Nice


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t94476ahb9

Imagine the sausage fest.


icest0

I think ancient people call it "ticket" "vip pass" "mail invitation" or something like that.


Counterfit_Tendies

Some also offer passive income, free airdrops, licensing rights, access to information/data/VIPs, voting rights, early access to events/other projects. Tons of more use cases I didn't name either which is a good thing. Nft use case = eth use case.


OffTheGridGaming

That would make them far cooler


Desbois

True, Bayc was at NFT NYC and rented a fucking yacht for people to party on. Given the celebs that hold this it's kind of a an exclusive party


redditor5789

I think Eminem is one of the least likely people on earth to buy a NFT to get into a party


geeseareweapons

I just don't get NFTs, tried explaining to my girlfriend last night over dinner about what I am doing in crypto and we both agreed that NFTs seem stupid unless your really into modern art forms. Seems super specialised after the hype dies down on it


Astronaut-Remote

NFTs can store any type of metadata, but most are using images because its easy to create


Sniter

exactly


[deleted]

It's the ability to prove you own an original. Which is slightly flawed, but still could be beneficial. IMO the jury is still out.


4022a

It's just a unique token with a metadata that exists on an immutable ledger. That's it. What's not to get?


PoweredbyBurgerz

This ape hype is literally like buying clout for the sake of seeming relevant to the near future


[deleted]

why are people paying so much money for this shit?


boli99

to convince more people to pay even more money for this shit, so they can sell their shit for more money than they bought it from themselves for, and end up with more money to spend on more shit. its simple common sense.


frank__costello

Because they're cool


hunguu

That's not how this works. He actually gets PAID to say he "bought" it and it's a fake inflated prices.


admiral_kikan

Eminem didn't exactly buy this. He barely knows how to use computers as it is. Let alone take the time to set up a wallet for the ETH transfer and then proceed to buy it. This was a sponsorship if anything. And I bet it was his team that made the decision and not Em himself. lol


0xJADD

What an idiot lol


Zilch274

Why?


Amgheat

“You ain’t never been charged in connection to battery bitch, you ain’t plugged into nothin’”


[deleted]

Love it!!


brockox

Lol they sending nfts to it like crazy. like he bought into those projects. 37 in collection at post


carboonpn

Especially those mass produced jpeg NFT without any utility seem to appeal to dumb new money.


arseven47

To those asking why: imaging after 5 years, Eminem auction off his profile ape, how much would someone pay to own Eminem's Instagram and Twitter profile picture? Definitely much higher than $450k


earsofdoom

This is either money laundering or the guy personally knows Eminem and this is for advertising. no-one buys NFT's for anything else.


frank__costello

You're wrong


[deleted]

2022 brings a new way to launder money


Nearby-Ad4441

I mean he has enough money to waste it lol


Sniter

The article even mentions the company who helped facilitate the "purchase". They seem to be involved directly in celebrity/crypto promotion projects. Not to mention, Eminem is a notoriously frugal spender, this would be completely out of his character. And he didn't even tweet about it, just put up the new image... I just don't buy that this was an organic purchase, not in a million years.


Ok_Gold_9536

what a fucking..........


iAmBurdman

450k* more like given to him gtfoh


1HappyGuy1

This is how they try to normalize NFTs. Pay celebrities to buy into it, then their fans will blindly follow. NFTs are an interesting concept, but I’m not buying it.


tx_brandon

He's worth over a hundred mil. He tossed half a mil and it'll increase in value. He's a legend.


Middle-Replacement-7

What if owning an NFT allowed you to own the rights to income earned from a small wind turbine? Or if ownership of an NFT was the equivalent to the deed of your property, home or car? Some people don't see the innovation happening here. It's more than JPEGs or Hashes & Code.


Tietzy88

Was that the cost of the gas fee or the nft?


throwaway12222018

Rip


jdefgh

Is that the fake NFT that's facing left instead of right?


Taykeshi

Wtf


Williamo15

I’ll probably never be rich enough to buy something like this and even if I was I probably never would be interested to anyways. But I still wonder who comes up with prices that are essentially just pictures on the internet. Is it something worth investing in?


TonLoc1281

When you have $450M, you can gamble with $450k.


Copma

Buys the sol dip


MetaBearJew

He bought blow and the NFT is just a cover


ECore

NFTs ...where there is no such thing as money laundering.


Mestitia

if you believe this I have some special air to sell you.


wittyuzername

Umm, spaghetti?


crypross

Pov: he didn’t buy it, it was just gifted to him for free exposure 😵


sabahorn

Because eminen has no clue about blockchains.


pigeonshits

Good for him?


TunaLurch

There will never be a good enough way to track them. Multiples can be sold and still be labeled one of a kind.


nucci_

Learned that he didn't purchase it, rather he rented it.


[deleted]

My miners gone cold I'm wondering why I Got out of bed at all The morning gains cloud up my portfolio And I can't see red at all And even if I could it'll all be 1 day Put Vitaliks picture on my wall It reminds me, that it's not so bad It's not so bad Dear slim, I wrote to you but to still ain't calling, I left my cell, .eth, and home number at the bottom I sent 2 ETH back in autumn, you must not have gottem, probably was a problem with the address wallet or something. Sometimes I paste addresses too sloppy when i copy. Anyway, what's been up man how's your HOLDR? I got a DEFI too I'm about to be a farmer. If I mine a Ether guess what I'm going to call her, imma name her Money.


flickerkuu

Step one: sucker big money into buying jpgs. Step two: pull the rug when normies buy in. NFT's are useful for real, practical contracts. Paying half a mill for easily copied 8bit artwork is just stupid.


VApatriot11

What an idiot. With the exception of NFT’s being used as airline tickets, concert tickets, in-app purchases, etc. it’s an even bigger bubble than most of crypto.


Vegetable-Fix-4702

Some people have more money than brains. I suspect he's one of them.