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  • 4 weeks later...

NFT's are just another attempt by the so called brains of our time to reinvent something that previously existed. 

 

They are glorified desktop wallpapers that folk are trying to charge for instead of filing away in a corner of a website. 

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8 minutes ago, ponsaelius said:

I like to think I'm reasonably well read and try to keep track of what's going in the world but pretty much everything in this thread is more or less noise. I just have absolutely no idea what any of it is or means :lol:


Aye, still none the wiser.

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BlueStar posted a brilliant, if long, video on the Personal Finance thread about this stuff, if people have just over two hours to spare. It's worth a look :)

 

 

Edited by OpenC

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I don’t pretend to understand it but couple of my mates made a couple of grand each of those NFT’s. They apparently paid £200 to go into this draw thing and you will get a NFT but you won’t know if it’s good or shit. They hit lucky and I am sure sold it for about 5k. It’s absolutely weird but with VR it’s going to become a thing. 

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7 hours ago, Optimistic Nut said:


Aye, still none the wiser.

 

The key thing to understand is that the NFT itself (picture, animation etc) is essentially irrelevant. This is why you see a lot of this mass produced template art (like to the apes).

 

All they do is serve as something to speculate on. You buy the NFT, hoping the price will go up and that some bigger fool will offer you more money than you paid. 

 

It's pure, undistilled speculation, unlike say the stock exchange where things, although sometimes abstract are typically linked to something real - such as the performance of a company, actual commodities like gold silver, or financial instruments like mortgages.

 

NFTs are basically inventing an imaginary commodity in order to speculate over. Terry is hoping to use his profile to increase hype and in turn the price so he can cash out for a big profit despite producing absolutely zero actual value. 

 

There's money to be made but if it's the future then it's depressing as fuck. 

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As said before I think there is a good chance a lot of the high profile people with 'apes' are just doing it as part of a sponsorship and have no capital at stake. The owners pumping up hype hoping some people will drop a few hundred thousand on a badly drawn monkey. A few influencers have confirmed they were offered this type of arrangement.

 

Depressing to see so many doing it mind. Think Trent did it and changed it back almost instantly as got so much shit off Liverpool fans.

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5 hours ago, r0cafella said:

I’d call Terry and his Ilk shameless but he’s definitely too thick to have a clue about any of this stuff. 

Well I'm sure he's quite familiar with the concept of a 'pump and dump' scheme as he's being doing them for years with his teammates wives.

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