Technology

correction... always were worthless.

It's always been a con game.

Their so-called "value" was always determined by the ability of the person shilling it to make up bullshit. Literally the definition of a "confidence" game. Same problem as crypto in general. It's only has value if you have confidence in the person shilling it. The moment that person loses the confidence of their marks, the entire thing crumbles to nothing because it isn't backed by any real tangible assets.

Well I am shocked!

No not actually.

Out of the top collections, the most common price for an NFT is now $5-$10.

Still overpriced!

Does anyone else think that NFTs are an allegory/miniature version of how art is easily commodified by capitalism? IIRC, NFTs were there to help finance artists who work on a purely digital medium, but then grifters coopted the NFT space and try to sell sets of same-looking artwork. Complete with "fandoms" and drama, as well.

The whole point was to get dollars into crypto so the holders could cash out. The value was never meant to stay.

You mean to tell me that purchasing what is essentially a URL hosted on someone else's server is a poor investment?

Shocked Pikachu Face

I'm sure they were a great way to launder money at the time.

Maybe now I'll finally be able to buy the ones I want

(There aren't any)

I find it fascinating that NFTs were supposed to be a proof-of-ownership technology, but because people are stupid & greedy made pictures to sell with it

Started laughing when nfts were introduced, still chuckle today.

It's great. Love it.

Grab the tulips! Grab them!

Not my Donald Trump trading cards! Nooo!

Shocking

well that surprised no one

All those rappers and celebrities with cartoon donkey and monkey profile pics showed how much for sale they are. They will promote poison to you for money

95% seems a little low. I assume that it's closer to 99.9%.

Wowie gee whiz, no one in the universe could have seen that one coming. /s

Oh no.

Anyway.

Now? Always were.

Not dissimilar to money laundering or MLMs.

The biggest operation of money laundering in the history of the world.

I still think NFTs could be used to make a form of DRM that is actually fair to the consumer, by maki g it so you can resell your digital goods and also make it so your digital rights don't vanish as soon as the seller gets bored. But nobody in a position to make that happen wants that.

NFTs are like a ticket roll, they can be quite useful, but that requires having an event or service that those tickets apply to. NFTs so far completely failed to create that. To justify the decentralized nature of NFTs you'd further have to make that ticket apply to multiple different services. That didn't happen either.

Buying your hats in a game with NFTs is pointless as long as those hats only work in that one singular game, centralized services can handle that better. On the other side, if you'd use NFTs to sell the digital games themselves, they could be quite useful and breaks through established online-store monopolies. But that of course would require different online shops to accept the same NFT, e.g. buy NFT for a game on Steam, but download it through EPIC. That's something NFTs could allow, but it would require the whole industry to play along, which due to everybody competing against each other is rather unlikely.

Lol, classic. Where's Ubisoft's NFT collection they were selling so hard last year?

Mostly used for money laundering

Remember? Fuck no.

It was what for like 5 minutes during a year with a million other more important things going on to pay attention to that thing that kids with only somewhat rich parents used to try and scam their way to being as rich as the kids with really rich parents.

You wouldn't right click a car would you.......

Don't put your reputation on the line to sell links to ugly JPEGs, please.