They're doing a prequel for NFTs now by promising 25% annual returns on (analogue) art investments, specifically pointing out that number will go up even during times of high inflation because uhhhhh art is timeless or some shit. You can buy "shares from artworks" apparently and there is totally a waitlist (because of the high demand, you see) which you can skip if you click his sponsored link.
Brb gonna check if Picasso has ever drawn an ape.
Quickly logging on to reiterate in case it isn't already clear: do not, under any circumstances, sink your money into art as an investment. It's one of the most illiquid and temperamental assets you can have.
I have no doubt that Masterworks might return some good results, since you're buying into fairly secure (for now!) blue chip artists. But the money spent on a fractional share of a painting that won't be offered for a decade or more, and might get burned at market because an oligarch buyer decides it doesn't match the drapes on his yacht, is better spent on literally anything else.
Edit: also if you're gonna buy tangible assets like this, buy something that you can actually hang on your wall and look at. The fact that this shit just exists on a fucking spreadsheet is just lmao
:the-more-you-know:
Rich people buy art for things like tax avoidance and money laundering stuff. This absolutely not something that anybody trying to make a buck flipping art is going to win at.
The only people who make money off this shit are people who can afford to drop $100m in a night, the many layers of market middlemen ready to take advantage of gullible rubes who thought that "art always appreciates," and like two guys on Antiques Roadshow that lucked out
the art market can have good returns if you're an aristocrat and know their social rules it's a club that if you're not part of you will never be part of without first being knighted or being already very rich (the later being a prerequisite for the former).
it's a case where the "you are a peasant" thing applies as to these people that's all we ever were
I swear to god trashfuture spent an entire episode dragging this scheme
God, I wish I could easily find it, their episode titles are deliberately cryptic as all hell and the episode descriptions don't offer much more to go by. All I can remember is that it was from several months ago @RoseColoredVoid , you got any clues? Hanseatic Art World deals with the underworld of sketchy art deals as money laundering schemes, but I don't think they talk about Masterworks
:fidel-salute: Superbly researched, thank you :hero-of-socialist-labor:
Lmao you what what people love to buy in hard times when they're hungry and poor?
Pablo Picasso
Do not invest in ANY art which you cannot see on the blockchain. If you were to purchase a Van Gogh painting with that company, you wouldn't know where it is or have a ledger of its ownership to prove its authenticity. I invest purely in NFTs and as such have a total understanding of my assets. While a 2D art investor is stuck waiting to passively attract a sucker who will buy their static painting for more, I can actively grow the value of my art. I can use slurp juice to mint new Astro Apes and potentially unlock the most valuable one of all time.
the art market is just NFTs if they could draw. (The art might well have real cultural value but the market doesn't care and is basically just wash trading dirty money)
"Hot take: we also need more leftist scammers for the time being"
Adam Something is a war hawk since ukraine invasion, he is not a leftist.
I was parodying his hot take about how we need more leftist landlords
His videos about Musk and his takes on urbanism are unfortunately very fun to watch and generally good. This video was also pretty good outside of that sponsorship segment (which a considerable amount of comments are also pointing out)
I remember before he started spouting a bunch of anti-communist nonsense on some podcast this site liked him too, he's good at hiding his power level as a dipshit.
You gotta build that retirement nest egg, no matter how many people get hurt in the process.
I regret to inform you that :LIB: Something is at it again.
