That's almost the textbook definition of a ponzi scheme. I can understand the status symbol argument, except it's not really a status symbol if you're only buying it to try and flip for extra $.

If no one actually cares about owning them and everyone just wants to catch some hype, make some money and get out then there will be a loooot of bagholders left with only an ugly, unoriginal image.

Sounds like all of crypto to me

Why does Tyson have my cat?

That is outrageous. How dare he!

Wew, the madladz right click saved. NFTs obsolete

Big pullback in the general NFT market. High end art and projects are getting listed for big losses and not selling.


Rumor is that VVD and AC3 are building up another wave of funding. Who knows though, could be a top shot level slow decline into a smoldering pile of ash

Missed this but I strongly disagree.

Missed it but I strongly agree.

Dont think that there is any PFP project that being slept on as hard as Sam Drews Lumps World. A real artist with a reach of 140k followers on IG. Got a cool vision with stories from the world, both in writing, audio and animation. Nice surprises with capsules coming one time every tenth day that contains more info about the world combined with cool gifts for the owners, both digital and real world.

Overall a very active and hyped up community. Only 500 Lumps, so supply is pretty limited. Right now the floor is around 1 eth.

https://www.lumpsworld.com/

I feel that Bitcoin itself has the same characteristics of what makes an NFT attractive.

It has the prestige and heritage of being the first crypto, and therefore, has terrific brand appeal. If you own Bitcoin, then that is seen as a status symbol to the average person who knows what Bitcoin is. It confers more status to the owner, than, say, an NFT of a Chimpanzee wearing sunglasses eating a marshmallow. Normal people, 99%, wouldn't know what the **** that is..

If you tell an average person that you own Bitcoin, they would likely respond with: "Wow, that's cool". And the more you own of it, the cooler you appear. to them. Almost everyone is aware of Bitcoin.

Conversely, if I told someone I owned 10,000 ADA (the 3rd biggest market cap Crypto), they'd would probably stare at me blankly wondering what it was. Likewise that's also the case with almost all NFTs aswell.

I don't think anyone is saying that NFT's 'right now' have that sort of prestige besides people already on the inside buying punks and apes.

The play is the prestige a couple years from now.

The example you gave is accurate imo, but it's like buying bitcoin in 2015.

I think the bigger issue with NFTs is trying to guess what NFTs will matter when it becomes more mainstream, and whether the NFTs that do even exist yet.

I agree this is true in respect of speculative investments in art projects, but NFTs can have valuable use cases and solve real problems, which is what excites me more than art.

NFT art seems more like buying a s*** coin pre-2017 than bitcoin imho.

People don't look at NFTs as a whole like that is bitcoin, they look at crypto punks or BAYC like its the bitcoin.

Curated generative art might be Etherium

lots of shitcoins out there though

When you say "like bitcoin" do you simply mean $EV/ROI or do you mean something else? If you're talking about utility or technical merit I don't see it.

You are memeing a perfect example of the lowest level utility that all NFTs provide which is provenance. Ownership can be tracked and confirmed. You can rock the jpg but you can't own the token.

I mean like bitcoin in the sense that people are considering them stores of value / investment vehicles that will perceiver through the test of time. The coin that rises above the alt / ****.

what does "provenance is low level utility" mean?

base level. comes factory equipped

Nearly every shitcoin is down in their ALT/BTC pair since 2017 with the exceptions being DOGE (lol) and BNB. Buying NFT’s now seems more akin to buying ICO’s in October/November 2017. Sure, they may go up further, but you’re also staring into the abyss of -99%.

I had already DM'd tgiggity and asked him how much for a one-year license of his avatar before this little outburst of yours. Those discussions are commercial-in-confidence, sorry.

People see NFTs as get rich, greater fool, ponzis more so than stores of value imho. They will be decimated in the next bear market. They also lack most of the properties that makes bitcoin useful and valuable.

Nothing against NFTs but let's call a spade a spade.

K

But in the meanwhile you are missing out on free money while trying to take the superior stance

Wrong wrong wrong

The next generation of NFT's are more like this -

Scanned ticket at MLB/NFL/NBA gate MINTs or adds to league NFT ticket (generic).
League tickets aquire league and team points from that game based on teams performance. Rarity multipliers based on tix level (suite, cheap seats) and spend in stadium.

Accumulated ticket points can be used to mint local team level or league level player NFTs. You can get 10% off mint cost when your league ticket hits 500 home run points. Player NFT's can be used in competitions for prizes and they're good quality art and cool looking and all rarities.

If you buy the $14 Keg-o-taters you get a 300% rarity boost if you mint from the visiting team.

If player X hits a home-run and you mint his card you get a 25% rarity boost.

Scanned concert tickets accumulate and earn rewards using the above.

3 gate ticket scans for your favorite artist = cool exclusive NFTs.

It's coming.

Why not use a database run by the MLB/NFL/NBA?

Haha, database. Wait are you serious?

Anyway, can't wait to get me some KIA Sedona's from Jay Pegs automart tomorrow.

I am serious, what is the benefit of using a public blockchain rather than a private database?