does anybody still remember NFTs?
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does anybody still remember NFTs? man that stuff was so bizarre. i don't even know why there were people who bought into the hype. i remember all kinds of celebrities having them as their pfps. do they all just jump on the latest trendy bandwagon?
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does anybody still remember NFTs? man that stuff was so bizarre. i don't even know why there were people who bought into the hype. i remember all kinds of celebrities having them as their pfps. do they all just jump on the latest trendy bandwagon?
no but seriously, it was such a scam from the get-go. attempt to create artificial scarcity by saying that there's such a thing as a "limited edition" image on the internet.
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@noiob gah. shallow people
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does anybody still remember NFTs? man that stuff was so bizarre. i don't even know why there were people who bought into the hype. i remember all kinds of celebrities having them as their pfps. do they all just jump on the latest trendy bandwagon?
@mynameistillian pretty much, yeah
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does anybody still remember NFTs? man that stuff was so bizarre. i don't even know why there were people who bought into the hype. i remember all kinds of celebrities having them as their pfps. do they all just jump on the latest trendy bandwagon?
@mynameistillian Those NFT grifters moved over to AI Slop, and probably creating AI Slop NFTs now.
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no but seriously, it was such a scam from the get-go. attempt to create artificial scarcity by saying that there's such a thing as a "limited edition" image on the internet.
HAHAHA i just found out so many of NFT holders lost their precious "special owned" jpegs because sites that hosted them succumbed to link rot. jeez. i don't know, i just feel condescending pity lol
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no but seriously, it was such a scam from the get-go. attempt to create artificial scarcity by saying that there's such a thing as a "limited edition" image on the internet.
@mynameistillian@plush.city Some were more substantial than just images. Doesn't make it less of a scam, but there were more substantial uses.
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does anybody still remember NFTs? man that stuff was so bizarre. i don't even know why there were people who bought into the hype. i remember all kinds of celebrities having them as their pfps. do they all just jump on the latest trendy bandwagon?
@mynameistillian@plush.city i’ve said in the past that while NFTs were a flash in the pan, generative AI (i.e. slop machines) feels like a crockpot waiting to explode and engulf the kitchen in flames, but whenever someone brings it up, the hand of g*d resets the timer
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no but seriously, it was such a scam from the get-go. attempt to create artificial scarcity by saying that there's such a thing as a "limited edition" image on the internet.
@mynameistillian so lesson #1 in con artistry is that you don't tell your mark you can sell a plot in Mars, you tell your mark that you know some suckers that *they* can sell a plot in Mars to. you make them feel like they're part of the scheme. you pyramid.
this way, not only your mark will absorb the damage for you, not only they will do the hard work for you, but they can't even complain about it. what are they going to do? tell the cops they were trying to scam someone and their accomplice ran away with their share?
the actual scam in NFTs wasn't "get a sucker to pay money to own a digital drawing." the actual scam was "you and me, my friend, we're going to get *so* much money getting suckers to pay money to own a digital drawing. lol look at these stupid cryptocats my team made up, dumb kids are going to go crazy over these with their parent's credit cards, it's going to be the next cellphone addiction. get some now for cheap and resell them before the scheme's up lmao".
everyone buying NFTs thought they were going to resell them to a mark at some point before the bubble popped. of course they were the actual marks.
cryptocurrency markets work the same way, every mark thinks they're an evil mastermind about to cash out before the bubble pops, but the house always wins. the Metaverse was the same, they were never selling to end-users, they were scamming bosses and capitalists who 100% thought they would very soon be able to profit from renting "digital real state" as soon as they got the dumb consumers to be into the virtual reality; any day now. (but gen-"AI" is a pretty different type of scam, which is why it's been more enduring.)
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does anybody still remember NFTs? man that stuff was so bizarre. i don't even know why there were people who bought into the hype. i remember all kinds of celebrities having them as their pfps. do they all just jump on the latest trendy bandwagon?
@mynameistillian@plush.city Worth noting that a big chunk of the scheme was the potential to sell them off to the next fool at a profit.
A bunch of managers and such likely had some investments in it and convinced the celebs to push them.
Also, they're an expensive accessory, celebs love those. -
HAHAHA i just found out so many of NFT holders lost their precious "special owned" jpegs because sites that hosted them succumbed to link rot. jeez. i don't know, i just feel condescending pity lol
@mynameistillian I don't feel pity I feel like that meme of a drawing of some guy laughing his ass off in like 3 different poses in the same image tbh
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does anybody still remember NFTs? man that stuff was so bizarre. i don't even know why there were people who bought into the hype. i remember all kinds of celebrities having them as their pfps. do they all just jump on the latest trendy bandwagon?
@mynameistillian a lot of them were paid to endorse NFTs, being sold ones for virtually nothing. a lot of those celebs did it for the attention or because they were convinced it's make them appear trendy or because they were trying to get in on the scam too. some may have even been true believers, but i won't expect that of most of them.
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HAHAHA i just found out so many of NFT holders lost their precious "special owned" jpegs because sites that hosted them succumbed to link rot. jeez. i don't know, i just feel condescending pity lol
@mynameistillian should have tried buying JPEGs from furry artists, those are much more permanent & a better use of money
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@mynameistillian should have tried buying JPEGs from furry artists, those are much more permanent & a better use of money
@patterfloof W take
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@mynameistillian should have tried buying JPEGs from furry artists, those are much more permanent & a better use of money
@patterfloof @mynameistillian we had less shit nfts before the cryptocunts did
they're called adoptables
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@mynameistillian a lot of them were paid to endorse NFTs, being sold ones for virtually nothing. a lot of those celebs did it for the attention or because they were convinced it's make them appear trendy or because they were trying to get in on the scam too. some may have even been true believers, but i won't expect that of most of them.
@mynameistillian if you were a taylor swift type and you were given a special deal to buy an asset you're told has a value potentially in the millions at super cheap and were told that the more people interested in NFTs the more valuable it'd get, then why not shill it? you're a soulless rich ghoul and you have no respect, so why not? especially since if you sell it the fact that it was owned by a celeb would theoretically increase the value more, right?
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@patterfloof @mynameistillian we had less shit nfts before the cryptocunts did
they're called adoptables
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HAHAHA i just found out so many of NFT holders lost their precious "special owned" jpegs because sites that hosted them succumbed to link rot. jeez. i don't know, i just feel condescending pity lol
@mynameistillian don't. they were warned. they chose to ignore all warnings and insult the people who tried to tell them this was the inevitable outcome. they chose this
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@mynameistillian so lesson #1 in con artistry is that you don't tell your mark you can sell a plot in Mars, you tell your mark that you know some suckers that *they* can sell a plot in Mars to. you make them feel like they're part of the scheme. you pyramid.
this way, not only your mark will absorb the damage for you, not only they will do the hard work for you, but they can't even complain about it. what are they going to do? tell the cops they were trying to scam someone and their accomplice ran away with their share?
the actual scam in NFTs wasn't "get a sucker to pay money to own a digital drawing." the actual scam was "you and me, my friend, we're going to get *so* much money getting suckers to pay money to own a digital drawing. lol look at these stupid cryptocats my team made up, dumb kids are going to go crazy over these with their parent's credit cards, it's going to be the next cellphone addiction. get some now for cheap and resell them before the scheme's up lmao".
everyone buying NFTs thought they were going to resell them to a mark at some point before the bubble popped. of course they were the actual marks.
cryptocurrency markets work the same way, every mark thinks they're an evil mastermind about to cash out before the bubble pops, but the house always wins. the Metaverse was the same, they were never selling to end-users, they were scamming bosses and capitalists who 100% thought they would very soon be able to profit from renting "digital real state" as soon as they got the dumb consumers to be into the virtual reality; any day now. (but gen-"AI" is a pretty different type of scam, which is why it's been more enduring.)
@elilla @mynameistillian 100%. part of why NFT bros got so culty is that once they bought in thier investment became entirely dependant on the price of the asset going up, which could only happen if more people kept buying in. to profit off your asset you had to sell it to someone for more than you paid for it, so you need to convince everyone else that it's super worth it. it has to be the future. you want in too, right?
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@elilla @mynameistillian 100%. part of why NFT bros got so culty is that once they bought in thier investment became entirely dependant on the price of the asset going up, which could only happen if more people kept buying in. to profit off your asset you had to sell it to someone for more than you paid for it, so you need to convince everyone else that it's super worth it. it has to be the future. you want in too, right?
@elilla @mynameistillian we can divide NFT bros into 3 types: the grifters, the wannabes and the true believers
the grifters have the money and connections to market their NFT crap and make it look like the next big thing. these types have people like mr beast endorse it or they make deals with famous artists or whatever. they have the money to do wash trading: buying their own asset from the themselves for a huge sum to fake interest in the market
