How NFTs Have Become a Gateway Into the Metaverse
NFTs (non-fungible tokens) burst on the scene with a $69 million sale of Beeple’s digital art. Now players behind the so-called metaverse are betting “digital scarcity” will create a whole new ecosystem of play and commerce.
#NFT #OutOfStock #BloombergQuicktake
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Would you buy an NFT?
Can I interest you in some Tulips?
I've still been confused what NFT is really since I heard about it first time. Seems like it's about "itemizing" digital assets like ascii arts, pictures made with computer graphics softwares, etc …, whose value was never fully maintained because of copy/paste, unlike the physical assets' value is always maintained eg; no single pair of shoes of same design can't be gotten without payment or freely copy/pasted. So, if you want 3 copies of digital content, you will pay for each copy same way you would pay for 3 pairs of same shoes. If my understanding is right, justice is being served to digital assets and their creators that have been under-appreciated, taken for granted from the beginning and viewed as garbage on internet, when digital assets require skill, effort and time as much as physical products do.
One thing to consider about NFTs is how recent it has been towards the general public. No one has a firm set of regulations as to how you would own said NFT. Hold onto your piggy banks before delving deep!
Gateway to bankruptcy.
imagine if/when the Metaverse becomes the place people spend 90+ percent of their day in , popping daily meal pills, changing their avatar into the most beautiful faces and perfect bodies- think people have mental issues now? just wait
The 'record' of scarcity does not create scarcity. This is a con.
how would you compare the energy consumption of the bank system to nfts?
This video is really helpful when i was a beginner until luckily Dillion_1uptrade on Instagram finally gave interest because i was down to learn about Day trading and creating my own NFT and how gas fee works and proper timing. So grateful to him for bringing me into the game.
Let me off
How do we get any current logos and copyrighted material backed by these tokens? Whats the process? Nobody will probably even see this comment smh
very poorly explained video
Desperate attempts to keep money moving, through uploading our scarcity, illusions and inequality to the digital world.
A physical word driven by abstract wealth, while automating ourselves out of existance. Mass madness
GameStop will make the perfect marketplace for the transaction issues explained in this video
WHO ARE THESE PEOPLE INSIDE THIS DIGITAL PUDDLE? THEY ARE INFLATING THIS BEYOND REALISM.
Special people are watching this video.
I feel like we are plowing a lot of real time, resources & energy into things which don't clothe people, grow crops, make medicine, build houses, pave streets or anything else particularly useful. I get that there is a lot of money involved, but so much of it seems to be based on speculation and is increasingly removed from real life society. If these systems all went up in air tomorrow, what would we have to show for it all?
I never thought I'd see the day where (Art Toys) and Digital Currency combined…
The artwork sucks and they know it
L + cope + seethe
That's funny when they talk about "NFT Games" they don't talk what kind of the game it would be. As I saw from the "NFT Art", it keeps revolving around "This item will be sold at more expensive price" and how the selling starter would have more money as the item keeps sold… Wait, isn't it it like Pyramid Scheme?!
which NFTs should I buy?
Metaverse is vaporware nonsense.
Dear obliviousts, think through this for a minute: If you are a criminal who has been sitting on millions in crypto for your illicit deeds and you can't move it because the feds are watching all the crypto exchanges … what do you do? Buy art with crypto and sit on it for 30 years. Someone will buy your art later for cash all laundered and clean.
Exorbitantly priced art in the digital world serves the same primary function it does in the real world – Money Laundering. It isn't so shocking.
They did say that the 69mill was a pump and dump for yet another token. This video is only popularising paid version of half-knowledge and perhaps into the pump and dump strategy themselves by finding new suckers for big players.
The NFT is not the physical image but rather linked to string such as a URL or IPFS hash.
Screenshot, Screens record