The suspected-bot buyer also paid very high "gas" fees - which determine how quickly the Ethereum network processes a transaction - of 8 ETH ($32,000), to ensure the sale went through almost instantly.
Imagine if money charged you $32k on a $3k purchase to process that sale "almost instantly". NFTs should be an opt-in card for organ donation.
...yall are aware that it is very rarely about "owning" an image, correct? Nobody cares about "owning" an image lol. the whole thing is basically capitalist secret santa. you buy shit that you think other people want and try to make money.
its all pump and dump except with a usually (not always, but nearly 100% lmao) bad aesthetics. right now shit that is just an image aint even the "in" thing. everyone wants functionality out of these things so its a huge scramble to see who makes the first "metaverse" game where shit can be used. Its like buying MTX for a video game, except instead of 20$ its 350$ and you can sell it to other people for any price they want to pay, which turns out is A LOT if they think they can flip it for more.
I sincerely doubt its going to keep holding up, but some mfers are gonna make a lot of money on people torching their own.
anyway i just think context is needed around it, even if it doesnt exactly help its cause lol. but yeah, it isnt about just owning an image. nobody gives a shit about that unless ur a very rich freak
Yeah, unfortunately the real aim is to recreate Valve's MTX scam, where people pay a lot of money for digital things in the mistaken belief they can just sell them for more later.
basically yes, with the added concept of like...a digital space. like buying a "spot" in a metaverse game. I'm sure you know what i mean, i dont have the words for it lol. I havent read up on a ton of what the fabo "metaverse" actually is, but i am assuming its going to be a space that has a limiting factor of some kind leading to digital real estate. essentially trying to take the next step of the internet, and form a space for it in 3d/VR as opposed to a 2d screen version.
and it being owned privately which is frankly the most horrifying part of it all lol. NFTs are a drop in the bucket if the next mode of communication is privately owned by a mega corp
See, I think that it's just going to eat complete shit in a way that's extremely funny, but that crypto may actually get adopted specifically to justify higher prices for digital goods even though nobody will actually be buying the secondhand stuff. No public ledgers, just an easier way to keep track of shit like Valve does to siphon off money from other people. It seems like it could be an extension of the "neofuedal" model used by Uber and such where a capitalist literally just makes "the platform" and taxes the lumpenproles trying to earn a living through it, selling a myth that you can get rich.