The future of NFTs

[digitalsierra]

I keep hearing people saying NFTs are a bubble or scam. Let's discuss practical applications where NFTs are feasible.

An example of useful NFTs would be simps buying digital posts from thots. NFTs can demonstrate loyalty (size of the idiot's wallet). Thots can host special events depending on how many NFTs a simp has collected. Thots can also collect royalty money when NFTs are resold from simp to simp as the social media presence grows.

What do you think?

[InstantClassic]

NFTs are speculative assets for wealthy hipsters who don't want to deal with the stock market or the world economy.

Every few years there are trends where slackers want to make a lot of money. And at some point, this trend is replaced by another trend.

[maxhitman]

Originally Posted by InstantClassic

NFTs are speculative assets for wealthy hipsters who don't want to deal with the stock market or the world economy.

Every few years there are trends where slackers want to make a lot of money. And at some point, this trend is replaced by another trend.

I agree 100%.
It´s just another trend for people who don´t know what to do with
their money (or drug-money-laudering).

The real deal will always be REAL ART and real MONEY, not "bit-coins"
or "virtual crap" (NFT).
Virtual stuff is just that - it is something that you cannot
feel or touch, because it is virtual reality. Its like oxygen. LOL

I suggest to invest in GOLD and Silver, and/or other precious metals
which will always become more valuable over the coming years.

Buying diamonds is also a good deal. but the market is always going
up and down on them, because the main dealer of them (De Beers S.A.)
is the one who makes the prices for it. Afterall, it is just another rock.

BUT
if you want to make extra money, go and create some wacky NFT´s and go sell
them while this market is high and those idiots around the world are willing
to waste their money buying it.
Just make sure they pay you in REAL money !

[Armadillot]

NFTs are basically nothing but receipts illustrating that a transaction of some sort has been completed. Even the famous bubble assets of tulip bulbs and comic books have far more intrinsic value.

[alexora]

I personally can't bring myself to trust anything that isn't fungible (such as precious metals, gemstones, currencies issued and backed by a national bank of repute, or any other physical assets).

Anything else I see as a glorified Ponzi scheme...

[Gwynd]

I've had long discussions about this with one of my friends who is seriously into most (all?) forms of 'electronic currency' - he bangs on an on about how much one of his monkeys is 'worth' - an electronic art piece valued in electronic currency, sometimes seems a bit silly to me.

On the other hand, what NFTs prove is 'ownership' of the 'original' in a world in which it's so easy to create exact copies - and for things in which ownership of the original creation could have value NFTs can be a good thing, particularly for content creators.

Unfortunately to my mind, too many people are jumping on the bandwagon creating 'one-offs' which only differ slightly from each other to make money.

Once the idiots who are only interested in a quick electronic buck get out, then it may well prove a useful tool, but I feel a big hard crash will have to happen first.

[USS Sulaco]

Delighted to see so many on here share my view that NTFs and crypto are a scam. Stick to stocks and better yet, real estate and commodities.

[maxhitman]

Originally Posted by Gwynd

I've had long discussions about this with one of my friends who is seriously into most (all?) forms of 'electronic currency' - he bangs on an on about how much one of his monkeys is 'worth' - an electronic art piece valued in electronic currency, sometimes seems a bit silly to me.

On the other hand, what NFTs prove is 'ownership' of the 'original' in a world in which it's so easy to create exact copies - and for things in which ownership of the original creation could have value NFTs can be a good thing, particularly for content creators.

Unfortunately to my mind, too many people are jumping on the bandwagon creating 'one-offs' which only differ slightly from each other to make money.

Once the idiots who are only interested in a quick electronic buck get out, then it may well prove a useful tool, but I feel a big hard crash will have to happen first.

I agree 99.9 % ! (00,1 % I may be wrong in my judgement. LOL)

Anything on the internet can be downloaded, and most often, it is by
someone, or a "art collector".
Printing that "art" on a book, may have
its consequences though, but many people do download stuff and use it in
posters and ads and T-Shirts.
That includes some of my artworks, of which I have seen it first-hand being
done by some folks, BUT personally I do not mind. I posted it online for
everyone to use as they wish to use. It is MY CHOICE. I am not worried I am
not getting cash or bitcoins off of it. I like to share my art, so everyone can
also have a better day. That is the way I am.
I am happy someone is happy using my art and even
making a few bucks on it. I am not worried because none of my stuff is
worth "Millions"... perhaps. LOL
Who cares ! I want to share my stuff.

On the other hand, why would someone pay hundreds of thousands of dollars
or "bitcoins" for someone´s "digital art" when it can be easily downloaded
from any PC in the world?

Take the example of Mike Winkelmann (Beeple), who is a graphic designer and
NFT artist who came into focus after one of his NFTs sold for $69 million last year!
That is an absurd amount of "bitcoins" for just one artwork. Which ranks
him as one of the all-time richest artists on the planet. More than Picasso, I think.
But if you search (Google it) for his art, you can see and download all of
his art. LOL I have some of them too.
It is nothing amazing to look at, but they are clever, in the same funny style as
what BANSKY art has been seen before.

[InstantClassic]

Originally Posted by maxhitman

On the other hand, why would someone pay hundreds of thousands of dollars
or "bitcoins" for someone´s "digital art" when it can be easily downloaded
from any PC in the world?

Because he hopes he can resell it for even more.

After all, art doesn't play a role in NFTs. Do you know the "Cryptopunks"? Those things are ugly as night. Nobody hangs them over their chimney. But millions are made with them.

Ultimately, NFTs are not about art, ownership, or being unique. Buy and sell.
And some poor bastard ends up sitting on a disgusting $100 million NFT and can't find another idiot to buy it off him.

[maxhitman]

Originally Posted by InstantClassic

Because he hopes he can resell it for even more.

After all, art doesn't play a role in NFTs. Do you know the "Cryptopunks"? Those things are ugly as night. Nobody hangs them over their chimney. But millions are made with them.

Ultimately, NFTs are not about art, ownership, or being unique. Buy and sell.
And some poor bastard ends up sitting on a disgusting $100 million NFT and can't find another idiot to buy it off him.

Very true, very true.
Specially this part you mentioned, " ...And some poor bastard ends up
sitting on a disgusting $100 million NFT and can't find another idiot to
buy it off him."

LMAO - SO True !

It is almost like that old joke...
It´s like Luggage. Once you buy one, you keep it forever - Because no
one will want to buy a used bag !

Notice the following image I post below.
Someone actually paid hundreds of thousands dollars for this "flying cat gif"
WTF is that?
LMAO Who wants that silly picture ?