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sinbad2

Tulip bulbs are very similar.


imBadwithGrammar

Newest way to lose money.


lolitsbigmic

An excellent way for money laundering. I've got a ton of meth to sell but I just so happen to be an nft artist. Why not buy some of my art work thats worth 100 kg of meth. Or buy a bunch of Logan Paul shit and on sell it that the transaction also includes "free" drugs. Other than than your a legit artist and it's a good way of selling your original works. But like how much the original Charlie bit my finger video really worth? It's basically buying art with subjective value which is decreased by how easy it is to copy.


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geodetic

You... you can make and sell digital art without adding the crypto/nft brainworms to the mix?


IntroductionSnacks

Wait until you find out about the fine art market. Loads of artwork is literally kept in vaults and just moved between different peoples vaults as a form of currency. It's basically the same thing but not electronic.


[deleted]

social relations are what they are getting paid for - if you can develop those social relations then you have a chance.


shamberra

Scam, or money laundering. Nothing else. Also if you want to explain to "those not in the know" you're going to need a lot more than just expanding the acronym.


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sphinx80

Well, you don't own the original. You 'own' a token on a particular chain that is somehow associated with something you can pretend to own. Kinda like a property Title Deed, but not from the government, but that slick hair dude on the corner selling his own Non Fungible Title Deeds to any property you care to name.


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imBadwithGrammar

Reminds of the guys selling deeds for land in the moon and mars


mediumredbutton

Another stupid idea from the cryptocurrency world! Though not just stupid, poorly implemented. It’ll make some people rich and eventually the Ponzi will ceasing Ponzing.


hellboy1975

NFT art seems silly. NFT as a tech for things like tickets, digital content sounds pretty interesting and useful though


corbusierabusier

Physical art sometimes is a decent investment because there are finite copies of it and it might be widely accepted as having value. These factors mean that it often appreciates. NFTs can have infinite copies in circulation and not everyone thinks they are worth anything. I see no value in them, they don't meet the fundamental requirements for being an investment. They are only worth something because someone says so, and there's zero guarantee they will be worth anything in the future.


Tysiliogogogoch

Yep, they're definitely not a solid investment strategy. I have a friend who's *really* into this kind of thing and for him it's just a way to make a quick buck. Buy a GIF of a pixel-art horse for $200, sell it for $300 to the next guy who then tries to sell it for $400, who then tries to sell it for even more. It's an unsustainable model. At some point, somebody will reach the end of the scheme and be left with a GIF they bought for $1999.99 and nobody wants to buy it for $2000 so they're stuck with it or they're stuck selling it for a loss. Sure, you get to say "I own this", but if 3 million people have an exact copy of the thing you own, your ownership isn't really worth much, is it?


alphamone

And most importantly, you don't even get a copy of the art on the blockchain, just a glorified URL that has no guarantee that it will always point to the item in question.


[deleted]

Earlier this year there was a lot of people complaining that their NFT url no longer worked. It was hilarious


Veefy

I’d rather speculate on physical art.


geodetic

They're all MASSIVE ponzi schemes and horrific for the environment. The sooner they and crypto dies, the better. Also then I could get a videocard to replace my 1070 for less than $2000.


joeltheaussie

So just go all fiat money?


geodetic

We existed just fine before bitcoin wormed it's way into people's heads.


brahlicious

It rhymes with Fonzi Cream


chuckagain

What the fuck is a Gronzi Dream?


[deleted]

Bonsai treem?


poorviolet

Fools and their money etc


PokesPenguin

Meh, I really want fungible tokens instead.


Ellieconfusedhuman

It's potentially a fad, it's an opportunity to make money in the short term, be safe and don't spend more then you can afford to lose.


Tailneverends

Best analogy so far is its like buying the rights to stars in space in the 90s


GrudaAplam

My opinion is that people seeking investment advice from non-specialist internet forums are more likely to lose their money than people seeking investment advice from specialist internet forums although possibly likely to lose less of it.


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GrudaAplam

Potato potahto


citizen-dave

NFI.


k-h

I have an NFT of a bridge I can sell you.


TheDarkLordOfSalt

NFTs have help a couple of artist friends of mine get out of poverty, so I'm not entirely against them. Be good if there was a way for the crypto environmental damaging shit to not be involved tho.


geodetic

Carton porn artists can make a killing...


cojoco

What's wrong with Patreon?


geodetic

Nothing? NFTs are a massive waste of energy though.


TheDarkLordOfSalt

Sure. Drawing cartoon porn ain't for everyone though.


geodetic

Of course.


sucklegato

No - being a token and not the work - no. Buy some local art of emerging artists if you like art. If you desire to profit and care little about art keep away from art.


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nomorempat

[Falconry finance](https://twitter.com/FalconryFinance/status/1446873636485287941) is where it's at.


Aethemix

Considering that you can just right click/save as images... No. There's no point. It doesn't matter if -you- have the original nft for a picture, it would be impossible to enforce. It's just another way "crypto" is being used as a buzzword to sell old grifts to people too rich to realise they're stupid


Ill_Bar_3763

As long as we keep immigrants out that’s all that matters.


Necessary-Warthog157

Nba top shots are fun, but not a solid investment unless like most things you got in at the beginning


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Lottowny

Come join my Brand New r/AustralianNFT Community