It's the culmination of several factors. A shift in political/financial power from NYC to The Bay Area. Traditional financial instruments having increasingly diminished returns. The stock market doing too well is actually bad because it means everything is more expensive and you can't make money without big rises or falls. The boom in retail trading thanks to smart phones and gamified trading apps.
If anyone seriously wanted to make NFTs to scam people, this is probably your last chance. Once the big corporations get a hold of it, they'll try to start shutting everyone else out, especially if it works and makes them money. Just like what happened to the internet as a whole. Instead of it being the wild west where everyone and their brother has a crypto scheme, it'll just be a few big companies giving you access to a kiddie pool.
I think I've gone into this before here , but one of the workarounds silicon valley types have been floating the past couple of decades to neutralize privacy concerns is to tokenize your data in order to require companies to pay you for access. The idea being you get a micropayments while they continue to abuse your data and the system continues exploiting us while we get the warm fuzzy feeling of knowing we're getting something out of the transaction. I think a lot of the hype around NFTs by corporations is to normalize the idea of us all "making money" on the blockchain in an effort to pave the way for something like that.
deleted by creator
deleted by creator
Yeah it’s a no brainer, make something at near zero cost and sell it to some dipshit for tens or hundreds of thousands
I mean, they don't cost zero money. They cost like $50 a pop to mint.
$50 to mint to sell nothing for $10k is much better than securing contracts with manufacturers and managing supply lines.
At least with chunko pops you have a physical thing that you own and can do whatever you want with it. With NFTs you don't even own the dumb art.
funkopops are worthless but still work and exist when the lights or internet go out
It's the culmination of several factors. A shift in political/financial power from NYC to The Bay Area. Traditional financial instruments having increasingly diminished returns. The stock market doing too well is actually bad because it means everything is more expensive and you can't make money without big rises or falls. The boom in retail trading thanks to smart phones and gamified trading apps.
If anyone seriously wanted to make NFTs to scam people, this is probably your last chance. Once the big corporations get a hold of it, they'll try to start shutting everyone else out, especially if it works and makes them money. Just like what happened to the internet as a whole. Instead of it being the wild west where everyone and their brother has a crypto scheme, it'll just be a few big companies giving you access to a kiddie pool.
deleted by creator
The virgin pet cemetNFT: :cheems:
The chad giving your dog an entire subreddit where they live on in multimedia: :swole-doge:
deleted by creator
I think I've gone into this before here , but one of the workarounds silicon valley types have been floating the past couple of decades to neutralize privacy concerns is to tokenize your data in order to require companies to pay you for access. The idea being you get a micropayments while they continue to abuse your data and the system continues exploiting us while we get the warm fuzzy feeling of knowing we're getting something out of the transaction. I think a lot of the hype around NFTs by corporations is to normalize the idea of us all "making money" on the blockchain in an effort to pave the way for something like that.
I've heard IRL people talk about it, but mostly in a resigned "this is a thing now". Some radio-hosts called it the next great way of ditributing art.
The NFT hype is causing Eth to pump and the Eth price is causing FOMO for these losers to jump in/cashout before it pops.