Someone loses $600k or over 99% of "investment" on NFT (non-fungible token) crypto graphic.
It was bound to happen that overpriced digital pieces of artwork would collapse and burn a lot of people. Some have been lucky enough to be on the other side.
I think in the future we will probably see famous people selling artwork in this way although I think the prices are way too high for something which is effectively useless, and can never truly replace tangible items like paintings, antiques or collectible cards
https://www.reddit.com/r/Buttcoin/comme ... th_a_9942/
NFT Loss - minus 99% ROI
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jamesedwards
- Posts: 2299
- Joined: Wed Nov 21, 2018 6:16 pm
Bored Ape NFT accidentally sells for $3,000 instead of $300,000
https://www.bbc.co.uk/news/technology-59638565
Meanwhile in the UK I can't bet £100 without sharing my passport, bank statements, P60 and inside leg measurement.
It feels like perhaps the focus is on the wrong industry.
https://www.bbc.co.uk/news/technology-59638565
Meanwhile in the UK I can't bet £100 without sharing my passport, bank statements, P60 and inside leg measurement.
It feels like perhaps the focus is on the wrong industry.
When the stock market first went online in the eighties a Japanese trader tried to sell a share in his bank for 100,000 Yen but accidentally sold 100,000 shares for one Yen each. He lost 14 billion Yen and his popularity with his colleagues as their Christmas party had to be cancelled.jamesedwards wrote: ↑Tue Dec 14, 2021 3:12 amBored Ape NFT accidentally sells for $3,000 instead of $300,000
https://www.bbc.co.uk/news/technology-59638565
Meanwhile in the UK I can't bet £100 without sharing my passport, bank statements, P60 and inside leg measurement.
It feels like perhaps the focus is on the wrong industry.
For those that thought I was joking! : https://www.dailymail.co.uk/news/articl ... -meme.html
Old news by now but they're selling tweets as NFTs as well : https://www.cnbc.com/2021/03/22/jack-do ... llion.html
I sort of get art selling for insane prices, even if that is a little crazy also. But you have a unique item that is yours. You can 'rent' it to a museum or derive many different elements of value or income from it and maybe sell it (CGT free) at some point in the future.
If you have an NFT you really have nothing of value. Perhaps the right to something, but something that can be reproduced at will and with no underlying ability to turn it into an income streams. It's the epitome of worthless.
The guy that paid $600k for a pixelated yacht. You could have bought a decent motor cruiser for that and got a ton of value out of it. It's all a bit insane. But I've seen the story before and where it ends.
If you have an NFT you really have nothing of value. Perhaps the right to something, but something that can be reproduced at will and with no underlying ability to turn it into an income streams. It's the epitome of worthless.
The guy that paid $600k for a pixelated yacht. You could have bought a decent motor cruiser for that and got a ton of value out of it. It's all a bit insane. But I've seen the story before and where it ends.
Instead of museums they hang stuff like their Bored Apes as their avatar, for the same reason that Alex here created his own avatar, to have something unique permanently on display, for a far wider audience than a museum could ever fetch, they're basically digital hipsters.
There are droves of digital artists on Fiverr that will create your unique avatar/art NFT on the cheap, for them it's gone beyond the argument that if it's digital it's not real.
There are droves of digital artists on Fiverr that will create your unique avatar/art NFT on the cheap, for them it's gone beyond the argument that if it's digital it's not real.
I don't think it's that dissimilar to art, you can get replicas of paintings or printouts of photos. They might not be exactly the same but most wouldn't know the difference. But there's a record of who owns the real thing. They can be rented out as well. A podcast I listened to just set one up and that gets special privileges, early podcast, discussion groups, access to meet ups etc. It does seem a bit mad to me stillEuler wrote: ↑Tue Dec 14, 2021 4:20 pmI sort of get art selling for insane prices, even if that is a little crazy also. But you have a unique item that is yours. You can 'rent' it to a museum or derive many different elements of value or income from it and maybe sell it (CGT free) at some point in the future.
If you have an NFT you really have nothing of value. Perhaps the right to something, but something that can be reproduced at will and with no underlying ability to turn it into an income streams. It's the epitome of worthless.
The guy that paid $600k for a pixelated yacht. You could have bought a decent motor cruiser for that and got a ton of value out of it. It's all a bit insane. But I've seen the story before and where it ends.
I’ve finally realised my path to riches. I’ve appointed Kai my exclusive agent to market my pnl graphs as NFTs.
Once we get beyond the virus
I will also explore a pan European gallery tour - watch out for further details under the banner “Straight Lines”.
Once we get beyond the virus
I will also explore a pan European gallery tour - watch out for further details under the banner “Straight Lines”.-
ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
Can I exhibit my work too? It's a dog poo bag with a USB stick inside entitled Crapto Currency.
That’s the sort of item that should be in the Museum of Modern Art.ShaunWhite wrote: ↑Wed Dec 15, 2021 11:32 pmCan I exhibit my work too? It's a dog poo bag with a USB stick inside entitled Crapto Currency.
We will probably all be riding the coattails of Kai’s memes, but I think there is merit in a bet angel gallery of nfts. Surely the Dallas giant thumb will also feature.
https://www.fool.com/investing/stock-ma ... ke-an-nft/
Kai, you would be way ahead of me on all things crypto and NFTs - not suggesting you need the guide but in case you do.
Minting my own NFTs? As a joke maybe, would need a little guide for suregazuty wrote: ↑Thu Dec 16, 2021 1:19 amhttps://www.fool.com/investing/stock-ma ... ke-an-nft/
Kai, you would be way ahead of me on all things crypto and NFTs - not suggesting you need the guide but in case you do.
Anything is possible, Dogecoin started as a joke out of my favorite meme.But trading NFTs could be more interesting, potential profit margins can reach ridiculous levels.
A good bit of insight about it here : https://www.youtube.com/watch?v=wnJNZbpJmoQ