patrick.net

It's mostly a bullshit scam. Some of it may be legit for actual, known artists, but mostly it's like Crypto pimpin' or Virtual Real Estate.

Or Hunter Biden's newfound artist talent selling 6 figure paintings to unidentified bidders.

If it looks like a duck and quacks like a duck, it's a fuckin' duck.

Blockchain! I put that shit on everything. I got Blockchain Chicken Wings. Gimme some of that Cypher sauce!

AmericanKulak says

It's mostly a bullshit scam. Some of it may be legit for actual, known artists, but mostly it's like Crypto pimpin' or Virtual Real Estate.

Or Hunter Biden's newfound artist talent selling 6 figure paintings to unidentified bidders.

If it looks like a duck and quacks like a duck, it's a fuckin' duck.

^.. This.. 99.999%

Although, in the longer term I think they'll be used to fractionalize real property. We're not there yet but think of a fractionalized apartment building with 10K investors each holding a small piece of (tradeable) rents based on digital contracts instead of a REIT with layers of management.

Then again, think about how rents are enforced and maintenance is handled without real 'legacy' management.

BayArea says

As an NFT is one of a kind, how does the value go up or down? How is this tracked (unlike a stock share or a crypto coin which has many) ? Anyone know?

And NFT is basically nothing more than a certificate of authenticity. It says that whatever thing you buy, you really own, and it's useful in the digital space.

There's tons of stupid crap that is sold, but it's probably like much of artwork - money laundering:

https://www.nytimes.com/2021/03/11/arts/design/nft-auction-christies-beeple.html?source=patrick.net

There's an example of it if you care to look.

You look at this crap and think "Gee, I could make that! Why can't I sell some shit for millions of dollars" - it's because post modern art is about money laundering. It's not art at all. You can't sell your art there, because your'e not in on the criminal syndicate.

For example, somebody might "buy" a $20,000,000 piece of artwork - get most of the money back in backchannels, and then display the "art" at a gallery, and then use it for a 20 million dollar tax writeoff.

https://www.youtube.com/watch?v=Dw5kme5Q_Yo&source=patrick.net

It's been explained by a few people. Basically, modern "art" has NOTHING to do with art at all.

So many unique, one-of-a-kind tulip bulbs back in the day.

HunterTits says

as a hyperinflationary combat tool, too much money chasing virtual goods might actually help

Like cryptos.

B.A.C.A.H. says

HunterTits says

as a hyperinflationary combat tool, too much money chasing virtual goods might actually help

Like cryptos.

Beats a trillion dollar fed coin held by the fed!

just_passing_through says

B.A.C.A.H. says

HunterTits says

as a hyperinflationary combat tool, too much money chasing virtual goods might actually help

Like cryptos.

Beats a trillion dollar fed coin held by the fed!

The super left wing of the democrat party is still urging Biden to cancel $50k in college debt per debtor. Comes to right about $1 trillion all up. They all want to use the coin to pay for the debt. Once their balance sheets are helped by the debt forgiveness, the former debtors will immediately go into further debt by buying expensive cars and/or buying their 1st home.

The Democrats will then blame meat packers for the resulting inflation.