NFT's

[jaudette3]

OK, I know that the Off Topic forum is dead without our old friend. But it's the holidays, we have a little time on our hands, and, I have never been so gobsmacked in my life. I'm frozen in confusion. Having spend the last 40 years of my life in technology I'm not going to stipulate that I'm simply old and out of touch. I'm posting here because this is most intelligent group of folks that I associate with and I need to be rescued.

NFT's - Non Fungible Tokens? If you don't know what they are look it up. I don't have the strength to describe them.

beeple.jpg

Sold by Beeple by Christie's for $69,000,000 - You can download your own copy!

Is this one of the greatest con games of all time? You "own" it but anyone can have a copy, thousands of copies all over the world. I saw Beeple present one his NFT works of art to Joe Rogan a couple of days ago. It was done elaborately with a back lighted shadow box that was enough to convince me that the con was on. A new high water mark for my spidey sense.

I have been suspecting that we are in some kind of mass psychosis and this is a affirming piece. Have you seen what some people are paying for these 8 bits of code that exist only in the metaverse? Has our youth spent so much of their lives playing video games that they don't have a solid sense of reality? Human beings appear to be utterly incapable of handling the present complexity of the world - which is only going to get worse.

I've never been so happy to be 78 years old - and to have my old feet on the ground.

Cheers,
John

[LiveFromNY]

You can also buy a high-resolution print of the Mona Lisa that will look the same, perhaps better, from 3 feet away. Same difference. A copy is a copy is a copy. NFT just means that there is an immutable record of the history of your digital asset which is a benefit we don't enjoy in the real world. In the end, nothing changes very much and digital assets are valued exactly the same way that physical assets are valued - they're worth what someone will pay.

[BrentF]

NFT's make even less sense than BitCoin, but what do I know?
Now the Blackhawk Collection (classic cars) is getting into the game, with their first auction reaching $60k., on a 1937 Rolls Royce Phantom.
How appropriate, phantom indeed!
https://www.einnews.com/pr_news/5584...royce-phantom3
https://digital.blackhawkcollection.com/#about

[bob joyce]

just how many Bennie babies do you or any one you know have?

[bob joyce]

that sounds quite enjoyable ...
way to go..

[davep]

As I understand an NFT, all you get when you purchase one is a unique block in a blockchain that contains an internet link to the item. There is no ownership of the item itself. Anyone can save the same link on their computer, or save the image itself, all at no cost. If the website that hosts the image fails, or changes the image the link points to, then even the link is useless. If you like the image, save a copy on your computer, then on a flash drive. As far as I have been able to determine, there is absolutely no value in an NFT.