NFT’s are basically a form of fashion. Looking at them through the lens of “ownership” as in property rights will get you nowhere. Buying an expensive NFT is somewhere in between wearing a designer dress and signing your name in the guestbook at a bougie party. Sure, someone could copy the dress and your signature doesn’t retain your experience indefinitely, but being seen doing it is the point.
Also, money laundering art collectors and pump-and-dump hype
So it just a thing for rich people to show off to other rich people? A jpeg lion seems a stupid way to do that. I mean I guess it makes sense when you made all your money off crypto.
money laundering makes sense. Thanks for explaining thou
Yeah that’s my best understanding. People try to look for explanations in the technical aspects rather than the social and that’s why they’re so confusing. It’s just a subset of collector communities. And I think are artists who legitimately make neat procedural art who have minted some NFTs, but it’s much more common for crypto nerds to dabble in art than the other way around in this field
I was so confused by the whole thing I literally dm'd some twitter guy (15k followers) named "NFTPrince" to get an answer.
And from his answer I gathered that it's a get-rich-quick scheme, the guy said something like "at the start of this year I was in debt and now I make 7 figures" and he went on to say that you can "create so many opportunities for yourself" and "if I can make 7 figures in a month think of the possibilities".
Basically from my understanding the entire thing revolves around crypto bros hoping that their NFT is gonna climb in value like crazy and they'll become crypto millionaires when they sell their mediocre furry art for 100x what they paid for it a few months down the line. That is the only thing I could decipher from it.
Also to an extent I assume it's a minor community thing where having one of these NFTs as your profile pic identifies you as one of the kool krypto kids.
"try to explaining to a boomer" I don't even understand NFTs and I have done too much research on them. Like, I never got a satisfying answer to "why"
:grillman:
NFT’s are basically a form of fashion. Looking at them through the lens of “ownership” as in property rights will get you nowhere. Buying an expensive NFT is somewhere in between wearing a designer dress and signing your name in the guestbook at a bougie party. Sure, someone could copy the dress and your signature doesn’t retain your experience indefinitely, but being seen doing it is the point.
Also, money laundering art collectors and pump-and-dump hype
So it just a thing for rich people to show off to other rich people? A jpeg lion seems a stupid way to do that. I mean I guess it makes sense when you made all your money off crypto.
money laundering makes sense. Thanks for explaining thou
Yeah that’s my best understanding. People try to look for explanations in the technical aspects rather than the social and that’s why they’re so confusing. It’s just a subset of collector communities. And I think are artists who legitimately make neat procedural art who have minted some NFTs, but it’s much more common for crypto nerds to dabble in art than the other way around in this field
I was so confused by the whole thing I literally dm'd some twitter guy (15k followers) named "NFTPrince" to get an answer.
And from his answer I gathered that it's a get-rich-quick scheme, the guy said something like "at the start of this year I was in debt and now I make 7 figures" and he went on to say that you can "create so many opportunities for yourself" and "if I can make 7 figures in a month think of the possibilities".
Basically from my understanding the entire thing revolves around crypto bros hoping that their NFT is gonna climb in value like crazy and they'll become crypto millionaires when they sell their mediocre furry art for 100x what they paid for it a few months down the line. That is the only thing I could decipher from it.
Also to an extent I assume it's a minor community thing where having one of these NFTs as your profile pic identifies you as one of the kool krypto kids.
new bit idea: replying to these nft guys calling them dipshits while using their nft as your avatar
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7 figs, but they're fig newtons, because that's the value of your NFT collection in a year.