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Nobody ,

While the value of some of the high-priced tokens such as the Bored Ape Yacht Club (BAYC) has plummeted from its peak, the NFT market has shown a sign of recovery in the last few months with trade volumes exceeding $1.6 billion according to NFT aggregator CryptoSlam.

Who is still falling for this scam? Even Xitter is Xitting on NFTs at this point, and morons are still buying them.

ugjka ,
@ugjka@lemmy.world avatar

Err, isn’t it just mostly criminals doing various criminal schemes using NFTs as a tool?

pup_atlas ,

It was never a scam, it was always a successful money laundering operation for the rich while covid had all the real galleries closed. It did exactly what it said on the tin. It’s just unfortunate that some people thought it was a real economy to begin with. Either way, good riddance.

AFC1886VCC ,

Just hurry up and die please, X formerly known as Twitter

MargotRobbie ,
@MargotRobbie@lemmy.world avatar

I would imagine the sheer embarrassment of having an really ugly monkey NFT profile picture is enough of an incentive.

Credit to where credit is due, good for X Formerly Known as Twitter, though this is mostly because Musk only used crypto as a grift, whereas Jack Dorsey is a True Believer in crypto.

Paradox ,
@Paradox@lemdro.id avatar

Best thing Elon has ever done right here

merc ,

That was one feature that was actually useful. Immediately you knew if you should just block someone and move on.

AaronMaria ,

Had us in the first half, not gonna lie.

stackPeek ,
@stackPeek@lemmy.world avatar

in a way, blue checkmark is a useful feature too.

squirrel ,
@squirrel@lemmy.blahaj.zone avatar

Now Elon has lost the crucial support of NFT bros. All five of them!

TimeSquirrel ,
@TimeSquirrel@kbin.social avatar

This had to be the most short-lived tech trend I've ever seen in my 41 years. Tamagotchi lasted longer in its heyday.

Bonehead ,

To be fair, Tamagotchi provided more value than NFTs ever could.

MysticKetchup ,

And Tamagotchis weren’t ugly as sin either!

SeedyOne ,

And yet crypto is back up again for some dumb reason. Are we sure NFTs are truly dead or are we going to see that grift in a new form soon? One can only hope it’s the former.

TimeSquirrel ,
@TimeSquirrel@kbin.social avatar

NFT as ape pics are dead, yes. But crypto as a form of value exchange for transactions where you don't want too many eyes looking at it has not stopped since its invention in 2008. It's just going to become a normal staple of the internet, like Bittorrent and VPNs, just existing and being used without anybody really caring too much about the technology itself. I still use it to pay for some online services where I basically just want to hand them the internet equivalent of a wad of cash without giving anyone any account details of any kind. I've been doing that since 2013, the NFT thing just kinda came and went and I didn't care too much about it.

joshhsoj1902 ,

Keep in mind that buying photos isn’t the only application of NFTs. People stopped buying valueless photos, but other implementations of NFTs kept on being used.

squiblet ,
@squiblet@kbin.social avatar

Right… the technology conceivably has value as a way to digitally trade ownership and track authenticity. It just happens that it was used for a bunch of truly worthless algorithmically generated art that people got suckered into by hype.

s_s ,

That dumb reason is Tether printing new phoney-bucks.

ililiililiililiilili ,

NFTs came about due to collectable communities trying to capitalize off cryptocurrency (think baseball cards, shoes, Funko Pops, etc). NFTs were doomed from their inception because they attempt to give limitless data artificial scarcity.

caoimhinr ,
@caoimhinr@lemmy.world avatar

Crypto is up because the SEC greenlit crypto ETFs being traded on the stock market.

porksoda ,

Same. I’m getting to the age where I say “I don’t get it” when it comes to a lot of popular things these days. I said it loudly about NFTs, glad to see I didn’t misunderstand it.

Fisk400 ,

Someone mentioned in a video about crypto that the boom in nfts coincided with new tax rules for art that made it harder for millionaires to store/hide their money in it and avoid tax.

That’s when it all clicked for me.

beebarfbadger ,

What’s not to get? You convince the more gullible to put money into it, when enough people have fallen for it, you grab and run. Really nothing new.

stackPeek ,
@stackPeek@lemmy.world avatar

deleted_by_author

    •
    kate ,

    IIRC the monkey jpegs themselves were stored on ipfs, while open sea the marketplace was hosted on centralised services

    helenslunch ,
    @helenslunch@feddit.nl avatar

    Oh no. Now they’ll have to use identical photos that aren’t on the Blockchain. Their followers will be so disappointed.

    kittenzrulz123 ,

    Finally a good thing to remove

    Pxtl ,
    @Pxtl@lemmy.ca avatar

    Even Twitter agrees, NFT stands for No Fuckin’ Thanks.

    MimicJar ,

    Assuming Twitter survives long enough, it’ll get added back but tied to a Musk-backed currency.

    ChunkMcHorkle ,
    @ChunkMcHorkle@lemmy.world avatar

    Company scrip

    NickwithaC ,
    @NickwithaC@lemmy.world avatar

    LOL

    can ,

    Does reddit still have 'em?

    kittenzrulz123 ,

    I wouldn’t know, neither does anyone else here

    can ,

    I’m not sure everyone here went as full cold turkey like you and me.

    JigglypuffSeenFromAbove ,
    @JigglypuffSeenFromAbove@lemmy.world avatar

    I’m only there because my third party app still works. The minute it stops, I’m out.

    can , (edited )

    I tried patching Sync a few times way back but kept failing.

    Edit: actually, I got curious and tried again now and it worked. I probably messed up the text file before. I’m still not going to contribute there but now the odd google search result will be more comfortable.

    stackPeek ,
    @stackPeek@lemmy.world avatar

    Me too–Boost for reddit still works, and that’s the reason you’ll see two Boost icon in my app drawer haha. Starting to think about quitting permanently though, the amount of spam/karma bots are increasing since APIpocalypse, it starts to lost the fun. The fact this year is an election year both in my country and in USA doesn’t help either…

    Octopus1348 ,
    @Octopus1348@lemy.lol avatar

    I did!

    SilentStorms ,

    Yeah, they definitely do.

    Album ,
    @Album@lemmy.ca avatar

    The value of your NFT just went from .02 to .0002

    deegeese ,

    Continuing removal of all features not related to showing ads alongside Nazis.

    handhookcardoor ,

    Even a broken clock, eh?

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