When I first learned about NFTs I figured I was simply too stupid to understand it. There was simply no way it was as dumb as it sounded.

Turns out I was right, it was way, way dumber than it sounded.

I mean, look at the bright side. Someone scammed Logan Paul out of $635,000.

He bought it for the headline.

Hahaha remember when they said nfts were going to be valuable because the artists involved were so innovative and cool? Then now the next GPU-selling trend is to rip off artists.

Future US Senator, folks! Truly a country of serious people.

ETA: $155 is still comically high.

Is it really worth $155, tho? Did someone actually buy it for that much? Or is it actually worth nothing since nobody is willing to buy it? 🤔

Correction: today it's worthless and in 2021 it was worth nothing.

NFTs were a vehicle to launder gains from cryptocurrency.

dude probably took the loss as a write off and gained millions in clean liquid cash.

how about this take? logan spent 635K on a publicity stunt and 5 years later you muppets are stilll tweeting about it, pretty good return id say

The concept of an NFT and the security of purchasing isn't worthless. The fact that people with too much money bid up and purchased any old crap available as a NFT was and always is idiocy. That crap reverting to worthlessness when it wasn't worth anything to start with is reasonable. Some people were able to make a ton of money with that hype. Same as they now are on AI.

Just means when he sells it he will have quite a bit of capital loss to offset any gains he made.

why is lemmy obsessed with nft’s?