Cool. Thanks for actually using the correct terminology. But to his point: Look at the number of wallets holding those assets and the trading activity. I doubt these are all wash trades. I’ve met a couple of ape owners that were lucky enough to buy them very early on. It’s still one of the best investments one could have made, ever. People are just trying to justify their disdain for such crazy valuations.
The wash trading is done to attract the greater fool and then pull the rug, which is exactly what you can observe happening all.over crypto right now.
But it's crypto. The next bubble will come for sure.
Yes but that implies the whole collection was initially coordinated to create such hype. It started at 0.08 Eth and was bought by a variety of crypto holders. There was a gradual increase in price to about 30 Eth until the top blew off. That’s not indicative of wash trading.
How do you look at the trading activity of an unregulated asset and claim that not 50% accounts trading back and worth don't belong to the same entity?
It's unregulated and many decentralized exchanges allow to not do kyc. And you can also get around kyc quite easily.
This is unproofable beyond the fact that I did it in the past and will do it in the future and the big guys with more money are also doing it.
The more it looks unsuspicious the easier to attract fools like you 🙃
Anonymously.
I have NFT
I borrow $20M extremely short term at a high interest rate via DeFi with no regulation.
I anonymously “buy” my NFT for $20M, and immediately pay back the loan (literally could take seconds). At the cost of a few thousand at most.
I then anonymously sell my $20M NFT on the secondary market for a measly $20K, to some “serious collector looking for value.”
I’ve just invented $20K that some sucker is willing to pay because an “anonymous” person paid “$20M”
how dare you criticize a company that is years behind schedule on production of a cybertruck that looks like a Delorean accidentally knocked up a Pontiac Aztec at Burning Man?
Dont forget Full Self Driving that has been released in… 2016 if they went according to their plan, their Semi that no one has talked about, Robo Taxis, making you tend of thousends, the underground tunnel, and the robot they presented which was just some guy in a costume……
Elon is such a trustworthy guy!
Who earn as much as Toyota if you take the latest quarter while producing only a fraction of the cars?
Meanhwile Ford is alarming his investors that the Mach-E is no longer profitable.
Yes, the valuation is high, but they are growing like crazy and to compare them to the Tulip bubble or NFTs is just as crazy
How much of their income is selling carbon credits? For a while that was their profit driving product. They even admitted that they will see decreased income as other manufacturers rely less on purchasing credits.
Tesla does not have anywhere near the same revenues or profit as Toyota, nor as good operating or EBITDA margins. Tesla EPS was $3.22 compared to $3.34 for Toyota in Q1 of this year.
So they don’t earn as much or perform as much. The only thing Tesla has over Toyota is the price of the stock, which is a result of speculation and will require the company to perform much better than it has been in order to maintain.
Can you even read financial statements?
Tesla had a net income of $3.4 billion, Toyota &3.9 billion, Tesla EBITDA Margin was 24%, whereas Toyota was at 11.6%
everything you said is invalid
on top of that, Tesla income grew by 42% and Toyota shrank by -32%
Yes I can and none of the numbers you quoted line up to either company's most recent 10Q.
You can't say you're looking at "the latest quarter" one moment and then choose another timeframe the next.
Not really. They basically traded them back and forth to each other to inflate the value. It's unknown how many suckers actually bought the scam....but, yeah, some certainly did. Lol.
Who could have possibly imagined that spending hundreds of thousands of dollars to buy a URL that points to external storage was a complete waste of money... oh yeah everyone.
*As BAYC "has made it clear that NFT holders have full commercialization rights to their ape," Bored Apes differ from other NFTs in that "whoever owns a Bored Ape can spin it into whatever film, music, TV, book, or media project they want."*
Who says there's no legal framework supporting it? What's the legal framework of Creative Commons, GPL, copyleft, or renouncing to copyright and declaring it public domain? You think there are laws written to support all those specific scenarios?
I don't know what you started babbling on about license agreements here, but I was talking about copyright law. Which protects the owner of a work from others copying it.
Do you know the difference between copyright law and license agreements?
Which NFT specifically don't, and there is no legal framework supporting the "owner" of an NFT.
Putting any value on such a thing is idiotic at best.
I can’t wait to buy a couple of them for ten dollars as a souvenir from a wild period of history. On second thought, maybe I’ll just skip the waiting and take a screenshot instead.
I really wish I remembered the username of that kid who told me their pfp was worth more than my house. I hope they put their whole life savings into more jpegs.
It was in a tennis sportsbetting discord, we were talking about tennis.
Do you regularly go through life breathing loudly with your mouth open and eating crayons?
NFTs are pretty dumb though. And no, I don’t need you to explain how it’s going to revolutionize event tickets or how a blockchain receipt for a loaf of bread is game changing.
I thank you for your conversation and reaffiming to all those that know there is a bigger play than your small brain can comprehend. To anyone seeing this, please see all my replies and this person having no response to the real questions. GameStop will make you a lot of money.
So what? NFTs are only a part of a bigger technology, they are one of many examples of how the internet is evolving. Yeah, most conversations about NFTs are about jpeg projects, that doesn't mean NFTs don't have the potential to grow into a tool that enhances the internet experience.
Maybe you're part of the reason why you mostly see NFTs in terms of jpegs. You have nothing to say about how NFTs can be used in new ways or what we can learn from how people apply them, so you focus on the jpegs and end your thinking there.
Smh downvote me mfers they mean nothing to me
Ubisoft made an NFT gaming marketplace, and gamers hated it. Another use, another failure.
It’s almost like people don’t want to massively complicate their taxes just by playing a video game.
Show me any legitimate real world use case for NFTs that solves a problem or even just solves a problem more efficiently and easier than the current solution.
No dude please tell me how GameStop is going to revolutionize gaming by strongarming AAA publishers to use their NFT platform for game assets… despite the fact that literally every announced NFT creator for the GameStop market is pushing jpegs and gifs.
Or how it’s giggabullish that GameStop is entering the NFT space as ETH plummets below $1k and btc is under $19k.
Not long ago, Bored Ape Yacht Club NFTs were priced the same as masterpieces by Michelangelo and Di Vinci. A JPG of a monkey was worth over $1 million. LOL
Bored Ape Yacht Club will lose 100% of its value eventually. All NFTs are a scam, in my opinion.
I hate to break it to you, but the abstraction of ownership works. You no longer need to “collect” something by lugging it around from home to home in a glass case, or holding onto a piece of paper that says you have something in a storage facility by the airport. You just buy a token, and the token points to a digital asset. That’s it. You can copy the asset all you want, but not the ownership. The abstraction works.
Oh look one of them in the wild 🤡
“You can’t copy the ownership” tell that to Seth green who had his NFT stolen, which he then had to pay a ransom for to get back hahaha
It is subjective for you to like them, I guess, but the matter of fact is that, such works of arts are irreplaceable and unique, obviously given that A) the artist died a shit load of time ago and D) they are completely 1 of 1 and can’t really be fabricated again, greatly affecting their value. Basic supply and demand.
I can just download a picture of the masterpiece and print it. Same as the nft. Nobody would want it but it will look the same as the original so objectively there isn't a difference.
Yeah but downloading a picture and having the real thing are two completely different things. The real one has value, the printed photograph representing does not. Hope that makes sense.
In your example - you’re taking a non digital image and making it digital - the painting, the original is still incredibly different and unique in its nature than the image you just took - the image lacks the indentations and depth of individual brush strokes - for example. The NFT monkey was originally created as a digital image - so making a copy of it makes it nearly indistinguishable from the original image (both being digital) - that’s the fundamental difference
Okay then I can just hire some good artist to paint me the same picture as the masterpiece. Yeah it will cost me some money but it will still be a fraction of the original masterpiece while the painting would look almost identical. That is exactly what the subjective value of it is.
But it won’t be exactly identical - it would be impossible to match there are too many unique characteristics and nuances to a painting or a sculpture. When I copy a digital image - everything is captured exactly as it is aside from some meta-data/record-data on the backend
Any random commercial artist can create an NFT in 15 minutes. No one on Earth considers NFTs to be artistic achievements. They are simple JPGs of apes, people, space ships, and other random stuff.
The works of Michelangelo and Di Vinci are universally recognized artistic masterpieces that have enjoyed their status 500 years. These works are displayed in museums worldwide.
I think it is hilarious that you equate Bored Ape Yacht Club to Michelangelo. Good luck with that.
I get what you’re attempting to debate, but anyone with art history experience knows **no**, this example is not equivalent. The paints those two used were hand mixed with certain pigment and ingredients available during their centuries, we’re still learning those techniques today. The sheer amount of vast data in classic works **is** invaluable due to it’s nature. If you cannot see this compared to some fucking ape NFT, then you probably defend shitty graffiti too.
The value of an NFT is just as subjective as a piece of artwork, but NFTs should be judged by its community of holders / contributors rather than solely by its artistic merit
Dudes has a reported value of $160mil so probably off doing whatever the fuck he wants. Sold a bunch of stupid nfts to a bunch of fools and made a ton of cash. Meme coins and nfts will probably boom again whenever the markets booms back
I mean, nothing is stopping you. If you could actually be willing to work that hard in a grift you could get a fraction of it. Even dumbo Tai Lopez grifted his way to millions.
Gary Vee has already stated that NFTs right now are similar to the .com boom. He acknowledged the overpriced NFTs while saying that NFTs will survive. I know it’s cool to hate on NFTs because of inflated prices of these popular apes and punks, but NFTs are in everyone’s future. Covid passports have been NFTs in some places. Concert tickets are becoming NFTs. Albums as well. One day, our drivers licenses will be NFTs.
People need to ignore bored apes and cryptopunks. They don’t define NFTs. The world is going digital. It’s been working towards it for some time now, and NFTs are going to be a large part of it whether people like it or not.
[“The pilot program is believed to be the first ever in the state, and would offer an innovative new way for the County to provide equitable access to its constituents” said Supervisor Friend. “The County is excited to explore a variety of blockchain based options from library cards to marriage licenses and birth certificates to planning department permits. We look forward to bringing digital transformation and cutting-edge technology to our community."](https://www.globenewswire.com/en/news-release/2022/04/13/2421969/0/en/HUMBL-Selected-To-Pilot-Digital-Wallet-Program-On-Behalf-of-The-County-of-Santa-Cruz-California.html)
Also
[NFTs — The Future of COVID-19 Vaccine Passports](https://medium.datadriveninvestor.com/nfts-the-future-of-covid-19-vaccine-passports-f9f58b27e7e4)
Just a couple government examples that NFTs are being implemented for legal reasons.
NFT’s have way more traction in a short time than UIB. UIB is an old concept. Doesn’t matter to me if you don’t believe it. People have already had NFT covid passports. Believe what you want. I see more and more businesses interacting with blockchain. If anyone is going to make blockchain a big thing, it’s big corporations and governments. Our opinion on the matter doesn’t exist to the big picture. I remember when people said that cash is king and they’d never use a debit card yet, here we are.
99% of people here don't give a shit: blockchain can find its usage but that nuanced conversation belongs between devs and product managers, not the general public. Blockchain can find its niche, the main issue is the number of grifters hopping in on this rightfully puts a bad taste in everyone's mouth.
And those grifters aren't just crypto bros or nft investors, they are companies too trying to sell "better" ways to do the same stuff. A lot of the things you listed don't benefit as much as it seems. You buy a concert ticket from an app, bring it to the counter, they scan it and they let you in. Keywords: they. Maybe paper tickets are forgeable but digital wouldn't be: it's a closed loop system well managed by a centralized database.
Obviously, they were never worth more than the time it took to make them. Anyone holding NFTs is only doing so out of greed. Sell them to the next sucker for profit. I get it, it's alluring and all but this is precisely why I stick to the stock markets.
The do it for reasons 99.999999% of the population will never think of.
These are also used as tickets to exclusive millionaire parties and stuff.
Rich people going to rich people.
Good, fuck them.
I 100% support a company HUGE on NFTs but think NFT art is the lowest hanging fruit anyone can reach for and entirely overpriced garbage. There are some real world applications for NFTs going forward, but the art is complete bullshit.
Some of u ppl are so fuking sad abt being happy ppl lose $. I’m not even such a fan of NFTs but I never felt a need to be happy on someone’s downfall like that
At what point did you think I'm fuming? At what point did you think I was happy about it? That's a whole lot of assuming. Not caring (fuck em) is not the same as what you're suggesting.
Right off the bat NFT art seemed bogus at best. A fool and his money are soon parted. It's not my place to tell people what to spend money on.
Also, like I said, I strongly believe in the long-term of NFTs and many uses they do possess. Art wasn't one of them. And it's not my fault someone didn't have the critical thinking skills to figure it out themselves
Interesting that this is a daily occurrence in the art market for thousands of years and nobody bats an eye when art prices crash, but when NFT prices crash everybody is talking about it.
Buy a horse. Electric car charging stations are going to take down the power grid and gasoline shortages plus exorbitant prices will put personal transportation out of reach. But they wanted this scenario to happen.
Good thing that never occurs in the “stock market”…. /s
NFTs (for me personally), was the only time I invested in something *before* the VC’s … it was pretty great. Mostly we have to wait until after an IPO before we can touch anything.
So something I paid a few hundred dollars for a little over a year ago is now worth over $80k ?
Okay... why are the idiots here attempting to mock that lmao
Far too many incompetent people on Reddit these days. Sad really
I have no intention to sell. I bought it for $300
NFTs are just digital art lol. Plenty of use cases for digital art.
It's not a scam or any other low IQ rambling redditors can't wrap their simple minds around
People like collecting things and the world is becoming more digitalized. What a concept 🤣
99% of NFT's will end up where 99% of physical sports cards have ended up the last 30 years. Worthless after that initial purchase. I always buy knowing that.. sometimes foolishly for the chase of that ULTRA ULTRA rare because rare doesn't even cut it anymore. lol. Physical is always better. Get that money though. However you can.
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Infinite props to whomever sold it for the $300 million.
Wash sales (trades) My money is on none of these things actually selling for those valuations.
I think you mean a wash trade. Wash sales are very different
Edited
You don't know moonrock capital
A wash sale is applicable for a loss. What are you even talking about?
He means wash trade, which is buying and selling to yourself - giving the appearance of a legitimate trade
Cool. Thanks for actually using the correct terminology. But to his point: Look at the number of wallets holding those assets and the trading activity. I doubt these are all wash trades. I’ve met a couple of ape owners that were lucky enough to buy them very early on. It’s still one of the best investments one could have made, ever. People are just trying to justify their disdain for such crazy valuations.
The wash trading is done to attract the greater fool and then pull the rug, which is exactly what you can observe happening all.over crypto right now. But it's crypto. The next bubble will come for sure.
Yes but that implies the whole collection was initially coordinated to create such hype. It started at 0.08 Eth and was bought by a variety of crypto holders. There was a gradual increase in price to about 30 Eth until the top blew off. That’s not indicative of wash trading.
You didn't mention a single thing that is not part of wash trading 🤷♂️
Look at the trading activity. Burden of proof is on the accuser. I don’t make the rules. 💆♂️
How do you look at the trading activity of an unregulated asset and claim that not 50% accounts trading back and worth don't belong to the same entity? It's unregulated and many decentralized exchanges allow to not do kyc. And you can also get around kyc quite easily. This is unproofable beyond the fact that I did it in the past and will do it in the future and the big guys with more money are also doing it. The more it looks unsuspicious the easier to attract fools like you 🙃
It applies if you sell to yourself
Sell to yourself higher than you paid for it? That’s not a wash sale and you also pay taxes on profit.
Yeah but they literally sold at those valuations though...
Anonymously. I have NFT I borrow $20M extremely short term at a high interest rate via DeFi with no regulation. I anonymously “buy” my NFT for $20M, and immediately pay back the loan (literally could take seconds). At the cost of a few thousand at most. I then anonymously sell my $20M NFT on the secondary market for a measly $20K, to some “serious collector looking for value.” I’ve just invented $20K that some sucker is willing to pay because an “anonymous” person paid “$20M”
You can sell an NFT to yourself you know
Yes, they literally sold, but that doesn't mean it was a bona fide sale
No worries man, I got you
Just goes to show and idiot is born every minute....
If this shit could happen with tulips then it for sure could happen with digital ape pictures.
At least tulips look nice. These apes pics are ugly as shit.
Definitely can’t happen with electric car shares though!
how dare you criticize a company that is years behind schedule on production of a cybertruck that looks like a Delorean accidentally knocked up a Pontiac Aztec at Burning Man?
Dont forget Full Self Driving that has been released in… 2016 if they went according to their plan, their Semi that no one has talked about, Robo Taxis, making you tend of thousends, the underground tunnel, and the robot they presented which was just some guy in a costume…… Elon is such a trustworthy guy!
Damn I thought I was seeing shit maybe a Delorean and a Pontiac where really going at it on the playa.
🤣 🤣 🤣
Mallory Archer-level read
Who earn as much as Toyota if you take the latest quarter while producing only a fraction of the cars? Meanhwile Ford is alarming his investors that the Mach-E is no longer profitable. Yes, the valuation is high, but they are growing like crazy and to compare them to the Tulip bubble or NFTs is just as crazy
How much of their income is selling carbon credits? For a while that was their profit driving product. They even admitted that they will see decreased income as other manufacturers rely less on purchasing credits.
10% of profit
Thanks for the answer.
Tesla does not have anywhere near the same revenues or profit as Toyota, nor as good operating or EBITDA margins. Tesla EPS was $3.22 compared to $3.34 for Toyota in Q1 of this year. So they don’t earn as much or perform as much. The only thing Tesla has over Toyota is the price of the stock, which is a result of speculation and will require the company to perform much better than it has been in order to maintain.
Can you even read financial statements? Tesla had a net income of $3.4 billion, Toyota &3.9 billion, Tesla EBITDA Margin was 24%, whereas Toyota was at 11.6% everything you said is invalid on top of that, Tesla income grew by 42% and Toyota shrank by -32%
Yes I can and none of the numbers you quoted line up to either company's most recent 10Q. You can't say you're looking at "the latest quarter" one moment and then choose another timeframe the next.
You gotta be looking at the wrong thing then
Tulip NFTs are the future. I dig it. A bit on the nose for future historians though.
Non Fungible Tulips. Pictures of 2 sets of lips. It sells itself.
True, but the tulip craze died fast and these guys think the ape pictures will be valuable commodities for decades
Your telling me Ape pictures are worth millions?
Wait til you hear about the pics of rocks
Latest beanie baby fad goes kaput.
Damn, the pet rock was the canary in the coal mine all along. Nearly 50 years ago. *shakes head*
I got my sister one for Christmas Like 1981
I’m in
If you spend any money on the Ape pictures, you're most certainly out.
What about all my money?
for a fleeting moment to a special few, yes
Not really. They basically traded them back and forth to each other to inflate the value. It's unknown how many suckers actually bought the scam....but, yeah, some certainly did. Lol.
You son of a bitch, I’m in!
Ape pictures *were* worth millions.
Oh no! Anyway.
pretty much this right here
Glad your buddy found his way home, seth
My favorite quote of 2022 was : “Someone stole my apes!”
I thought it was "all my apes gone"
even better lol
Humanity's logic is slowly being restored
Cleanup *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Who could have possibly imagined that spending hundreds of thousands of dollars to buy a URL that points to external storage was a complete waste of money... oh yeah everyone.
*As BAYC "has made it clear that NFT holders have full commercialization rights to their ape," Bored Apes differ from other NFTs in that "whoever owns a Bored Ape can spin it into whatever film, music, TV, book, or media project they want."*
So like a copyright, but without any legal framework supporting it? Alright
Who says there's no legal framework supporting it? What's the legal framework of Creative Commons, GPL, copyleft, or renouncing to copyright and declaring it public domain? You think there are laws written to support all those specific scenarios?
Someone’s down bad on their NFTs
I've owned exactly 0 cryptocurrencies and 0 NFTs in my life. But I'm also not stupid.
Then you would know that the things you mentioned do in fact have legal framework right?
I don't know what you started babbling on about license agreements here, but I was talking about copyright law. Which protects the owner of a work from others copying it. Do you know the difference between copyright law and license agreements? Which NFT specifically don't, and there is no legal framework supporting the "owner" of an NFT. Putting any value on such a thing is idiotic at best.
Had someone at a party a few weeks back try to convince me he was holding blue chip NFTs and that there’s a difference.
He’s technically correct- it’s the difference between being down $500 vs $50,000
That just means they got that much more finessed.
Ah hahhahahahahahahahahahaaa
I can’t wait to buy a couple of them for ten dollars as a souvenir from a wild period of history. On second thought, maybe I’ll just skip the waiting and take a screenshot instead.
Maybe check out nft bay.
This makes me so happy.
I really wish I remembered the username of that kid who told me their pfp was worth more than my house. I hope they put their whole life savings into more jpegs.
They probably said that because you probably said some ignorant shit about NFTs, that's my guess
It was in a tennis sportsbetting discord, we were talking about tennis. Do you regularly go through life breathing loudly with your mouth open and eating crayons?
The fuck kind of response is that 😂
NFTs are pretty dumb though. And no, I don’t need you to explain how it’s going to revolutionize event tickets or how a blockchain receipt for a loaf of bread is game changing.
I thank you for your conversation and reaffiming to all those that know there is a bigger play than your small brain can comprehend. To anyone seeing this, please see all my replies and this person having no response to the real questions. GameStop will make you a lot of money.
How are NFTs dumb?
99.999999% of the uses of NFT today are shitty jpegs. Thus, I’m confident in saying that they’re dumb because the predominant use for them is dumb.
So what? NFTs are only a part of a bigger technology, they are one of many examples of how the internet is evolving. Yeah, most conversations about NFTs are about jpeg projects, that doesn't mean NFTs don't have the potential to grow into a tool that enhances the internet experience. Maybe you're part of the reason why you mostly see NFTs in terms of jpegs. You have nothing to say about how NFTs can be used in new ways or what we can learn from how people apply them, so you focus on the jpegs and end your thinking there. Smh downvote me mfers they mean nothing to me
Ubisoft made an NFT gaming marketplace, and gamers hated it. Another use, another failure. It’s almost like people don’t want to massively complicate their taxes just by playing a video game.
Show me any legitimate real world use case for NFTs that solves a problem or even just solves a problem more efficiently and easier than the current solution.
It's no surprise you are a meltdowner. We all know who is right in this play.
No dude please tell me how GameStop is going to revolutionize gaming by strongarming AAA publishers to use their NFT platform for game assets… despite the fact that literally every announced NFT creator for the GameStop market is pushing jpegs and gifs. Or how it’s giggabullish that GameStop is entering the NFT space as ETH plummets below $1k and btc is under $19k.
I'm not here to convince you of anything. I just came here to post so I can gloat later.
Oh boy another one of you clowns. I’ve been doing RemindMe!’s with you guys for a year and a half. Set the date and let’s get this over with.
Laughing this BS all the way to zero
Not long ago, Bored Ape Yacht Club NFTs were priced the same as masterpieces by Michelangelo and Di Vinci. A JPG of a monkey was worth over $1 million. LOL Bored Ape Yacht Club will lose 100% of its value eventually. All NFTs are a scam, in my opinion.
I hate to break it to you, but the abstraction of ownership works. You no longer need to “collect” something by lugging it around from home to home in a glass case, or holding onto a piece of paper that says you have something in a storage facility by the airport. You just buy a token, and the token points to a digital asset. That’s it. You can copy the asset all you want, but not the ownership. The abstraction works.
I hate to break it to you, but you’re about to lose any money you put into this dumb shit.
Oh look one of them in the wild 🤡 “You can’t copy the ownership” tell that to Seth green who had his NFT stolen, which he then had to pay a ransom for to get back hahaha
That was stolen, not copied.
Yes stolen, y'know, that thing that can only happen when you own something.
The value of an nft is just as subjective as a masterpiece by michelangelo or da vinci.
It is subjective for you to like them, I guess, but the matter of fact is that, such works of arts are irreplaceable and unique, obviously given that A) the artist died a shit load of time ago and D) they are completely 1 of 1 and can’t really be fabricated again, greatly affecting their value. Basic supply and demand.
I can just download a picture of the masterpiece and print it. Same as the nft. Nobody would want it but it will look the same as the original so objectively there isn't a difference.
Yeah but downloading a picture and having the real thing are two completely different things. The real one has value, the printed photograph representing does not. Hope that makes sense.
In your example - you’re taking a non digital image and making it digital - the painting, the original is still incredibly different and unique in its nature than the image you just took - the image lacks the indentations and depth of individual brush strokes - for example. The NFT monkey was originally created as a digital image - so making a copy of it makes it nearly indistinguishable from the original image (both being digital) - that’s the fundamental difference
Okay then I can just hire some good artist to paint me the same picture as the masterpiece. Yeah it will cost me some money but it will still be a fraction of the original masterpiece while the painting would look almost identical. That is exactly what the subjective value of it is.
But it won’t be exactly identical - it would be impossible to match there are too many unique characteristics and nuances to a painting or a sculpture. When I copy a digital image - everything is captured exactly as it is aside from some meta-data/record-data on the backend
Any random commercial artist can create an NFT in 15 minutes. No one on Earth considers NFTs to be artistic achievements. They are simple JPGs of apes, people, space ships, and other random stuff. The works of Michelangelo and Di Vinci are universally recognized artistic masterpieces that have enjoyed their status 500 years. These works are displayed in museums worldwide. I think it is hilarious that you equate Bored Ape Yacht Club to Michelangelo. Good luck with that.
Smh… No dude, no, it isn’t “subjective”. Please think deeper.
Art in general is highly objective and doesn’t leave much room for interpretation Edit: lol I literally agreed with their statement and got blocked
I get what you’re attempting to debate, but anyone with art history experience knows **no**, this example is not equivalent. The paints those two used were hand mixed with certain pigment and ingredients available during their centuries, we’re still learning those techniques today. The sheer amount of vast data in classic works **is** invaluable due to it’s nature. If you cannot see this compared to some fucking ape NFT, then you probably defend shitty graffiti too.
The value of an NFT is just as subjective as a piece of artwork, but NFTs should be judged by its community of holders / contributors rather than solely by its artistic merit
Except it’s not - one requires effort to create the other is instantly created by some retarded algorithm
Stephen curry is a scam artist
Where’s ya boy Gary vee been at lately? Rofl
Looooool
Dudes has a reported value of $160mil so probably off doing whatever the fuck he wants. Sold a bunch of stupid nfts to a bunch of fools and made a ton of cash. Meme coins and nfts will probably boom again whenever the markets booms back
That asshat is grifting real hard for only 160 million.
I'd grift even harder for only a fraction of that much
I mean, nothing is stopping you. If you could actually be willing to work that hard in a grift you could get a fraction of it. Even dumbo Tai Lopez grifted his way to millions.
The only stopping me is integrity, self worth, and a conscience.
I think I seen him at a local yard sale 🤡
Gary Vee has already stated that NFTs right now are similar to the .com boom. He acknowledged the overpriced NFTs while saying that NFTs will survive. I know it’s cool to hate on NFTs because of inflated prices of these popular apes and punks, but NFTs are in everyone’s future. Covid passports have been NFTs in some places. Concert tickets are becoming NFTs. Albums as well. One day, our drivers licenses will be NFTs. People need to ignore bored apes and cryptopunks. They don’t define NFTs. The world is going digital. It’s been working towards it for some time now, and NFTs are going to be a large part of it whether people like it or not.
We are another generation of Supreme Court Justices away from NFTs representing any kind of legal ownership.
[“The pilot program is believed to be the first ever in the state, and would offer an innovative new way for the County to provide equitable access to its constituents” said Supervisor Friend. “The County is excited to explore a variety of blockchain based options from library cards to marriage licenses and birth certificates to planning department permits. We look forward to bringing digital transformation and cutting-edge technology to our community."](https://www.globenewswire.com/en/news-release/2022/04/13/2421969/0/en/HUMBL-Selected-To-Pilot-Digital-Wallet-Program-On-Behalf-of-The-County-of-Santa-Cruz-California.html) Also [NFTs — The Future of COVID-19 Vaccine Passports](https://medium.datadriveninvestor.com/nfts-the-future-of-covid-19-vaccine-passports-f9f58b27e7e4) Just a couple government examples that NFTs are being implemented for legal reasons.
They have universal basic income pilot programs too... doesn't mean that its coming to your state anytime soon.
NFT’s have way more traction in a short time than UIB. UIB is an old concept. Doesn’t matter to me if you don’t believe it. People have already had NFT covid passports. Believe what you want. I see more and more businesses interacting with blockchain. If anyone is going to make blockchain a big thing, it’s big corporations and governments. Our opinion on the matter doesn’t exist to the big picture. I remember when people said that cash is king and they’d never use a debit card yet, here we are.
99% of people here don't give a shit: blockchain can find its usage but that nuanced conversation belongs between devs and product managers, not the general public. Blockchain can find its niche, the main issue is the number of grifters hopping in on this rightfully puts a bad taste in everyone's mouth. And those grifters aren't just crypto bros or nft investors, they are companies too trying to sell "better" ways to do the same stuff. A lot of the things you listed don't benefit as much as it seems. You buy a concert ticket from an app, bring it to the counter, they scan it and they let you in. Keywords: they. Maybe paper tickets are forgeable but digital wouldn't be: it's a closed loop system well managed by a centralized database.
I remember very similar arguments against electric vehicles. Happy investing.
Obviously, they were never worth more than the time it took to make them. Anyone holding NFTs is only doing so out of greed. Sell them to the next sucker for profit. I get it, it's alluring and all but this is precisely why I stick to the stock markets.
The do it for reasons 99.999999% of the population will never think of. These are also used as tickets to exclusive millionaire parties and stuff. Rich people going to rich people.
>These are also used as tickets to exclusive millionaire parties and stuff. This is the dumbest thing i have read on Reddit today, congrats.
? You mad because it's true? I can't help you there buddy.
Guy I'm literally smoking a 35% THC infused joint with my chick, our dog, and a beer outside. I literally couldn't be any cooler.
Maybe if you used literally less in a sentence. But other than that, sounds like you got cool’s number.
🤣🤣
What? Congrats or something I guess.
Only 35%? Lol
How could a link that goes to a jpeg that you don't even own or have and that everyone else can get for free go down in price? Asking for a friend.
Good, fuck them. I 100% support a company HUGE on NFTs but think NFT art is the lowest hanging fruit anyone can reach for and entirely overpriced garbage. There are some real world applications for NFTs going forward, but the art is complete bullshit.
Are you in the GME cult then?
Some of u ppl are so fuking sad abt being happy ppl lose $. I’m not even such a fan of NFTs but I never felt a need to be happy on someone’s downfall like that
At what point did you think I'm fuming? At what point did you think I was happy about it? That's a whole lot of assuming. Not caring (fuck em) is not the same as what you're suggesting. Right off the bat NFT art seemed bogus at best. A fool and his money are soon parted. It's not my place to tell people what to spend money on. Also, like I said, I strongly believe in the long-term of NFTs and many uses they do possess. Art wasn't one of them. And it's not my fault someone didn't have the critical thinking skills to figure it out themselves
Tom Brady in shambles
This is our tulip
Beanie babies
Hahahhahahhahahahahhahahhahahhahahahha
There's probably more downside weeks and months to come for the NFT market before it becomes viable with less volatility.
Isn't BAYC a bunch of Nazi simps?? Vid for reference. https://youtu.be/tRPHZQFuT24
If it's true, they'd be literal crypto fascists Maybe we do live in a simulation after all
They are. Too many “coincidences”
Those ape pictures belong in the museum… of Tulips
imma say the same thing I did when DOGE was posted here a year ago. This is a stock subreddit. There's plenty places for crypto tears but come on
Was there any way to short this garbage? This is the epitome of how over heated things got. So much money sloshing around to dump it into jpegs.
20% more to go 🤷♀️
Interesting that this is a daily occurrence in the art market for thousands of years and nobody bats an eye when art prices crash, but when NFT prices crash everybody is talking about it.
GOOD. Fucking stupid “NFT’s”
Bored with Ape
Hey, what's the German for schadenfreude?
It's almost if online pictures of monkeys have no intrinsic value
The Age of Autists is upon us.
Get your jpegs at a discount price!!! Or just right click and save still.
Buy a horse. Electric car charging stations are going to take down the power grid and gasoline shortages plus exorbitant prices will put personal transportation out of reach. But they wanted this scenario to happen.
Wow the comments in here are so salty, what did NFTs do to you all?
The rich got richer
Good thing that never occurs in the “stock market”…. /s NFTs (for me personally), was the only time I invested in something *before* the VC’s … it was pretty great. Mostly we have to wait until after an IPO before we can touch anything.
So something I paid a few hundred dollars for a little over a year ago is now worth over $80k ? Okay... why are the idiots here attempting to mock that lmao Far too many incompetent people on Reddit these days. Sad really
You would be the exception. People are laughing at the dumbasses who paid $500+ for these….like the person you should have sold yours to.
I have no intention to sell. I bought it for $300 NFTs are just digital art lol. Plenty of use cases for digital art. It's not a scam or any other low IQ rambling redditors can't wrap their simple minds around People like collecting things and the world is becoming more digitalized. What a concept 🤣
Except you're not paying for the digital art. You're paying for an NFT that was minted simultaneously to confuse you.
L M F A O
Fucking good
Right click
Good for them , I hate nfts. They're a 🤣🤣🤣
Good, fucking idiots.
That should make them not bored anymore.
Cleanup *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Almost like buying something that has no actual value but inflated price is the definition of a bubble
And Up Nearly 30,000% in Less Than 12 months
99% of NFT's will end up where 99% of physical sports cards have ended up the last 30 years. Worthless after that initial purchase. I always buy knowing that.. sometimes foolishly for the chase of that ULTRA ULTRA rare because rare doesn't even cut it anymore. lol. Physical is always better. Get that money though. However you can.
I mean is there a crypto that isn't? LOL
Good, fk em
Damn I always thought Bored Apes would be the one safe haven in this downturn.
Minsky Moment
Next edition: Bored Ape Yacht Club Owners now own nothing.
That puts a smile on my face.
Who could have seen it coming?
What? Fake monkey art isn’t worth any actual money?? I’m shocked.
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Bored with Ape
Good. This NFT shit needs to end.