NFTs (thread now extremely NSFW)

How is that Bulls one doing, Jeff?

Unfortunately, still waiting for them to launch their market place.

just the worst

what's the worst? NFTs?

nah. there's probably something worse. Something even more more speculative. Something that can be integrated even more tightly with things that have nothing to do with money.

https://dirt.substack.com/p/dirt-are-nfts-status-symbols

they're tacky status symbols

but reading that helped me understand the appeal more. i have never been one of those guys who wants an expensive designer jacket. i have never considered it. i would never, ever spend my money in that way, mostly because i don't have that money. maybe other people see me that way - they see me buying a $50 game that actually sucks really badly, and i only play it for 2 hours. i've done that a couple times. for me, at the time, i had $50 and it wasn't a big deal. now, at this time, $50 is everything and i would never throw it away like that. maybe nfts are like that for other people that have more money. they don't realize how completely tacky their purchase is. it's an investment, or a frivolous evening.

anyway, that hypothetical expensive designer jacket. maybe nfts are like that, for some people. it's probably more healthy for me to just think of them like that, and the people that buy them as the kind of people that buy really nice designer jackets. they're out there for sure, and they're usually really popular and influential people, but also they suck

Dirt is, of course, selling their own tacky NFTs

Ooh I been dirt, but I don’t care.

Coinbase launching an NFT market place: https://www.coindesk.com/business/2021/10/12/coinbase-follows-ftxus-into-nft-trading/

Glad to see OpenSea getting some more competition. They’ve had some growing pains.

it used to annoy me, but now i love how crypto and NFT language is sort of staring down German (the language) in terms of "ridiculous compound nouns"

I read a Twitter thread that describes NFTs as the evolution of spending money to put someone’s name on a star. It’s basically buying a spot in a ledger and you don’t own shit. Gotta respect the grift.

it's in the first post on this thread lol

I still haven't seen anything about nfts that make sense to me and I've been paying attention to a lot of different projects. I want them to make sense, because it feels like it could, but it just reads as another way to spend money, so it's like, cool, new money thing

Because of amazing blockchain technology every NFT is guaranteed to be absolutely unique in the universe. ofc, because of slight variations in DNA, every pig-ear dog chewy is guaranteed to be absolutely unique in the universe, too.

https://www.youtube.com/watch?v=kQrQcAzMb8E

Ugh

Dear Twitter Friends, good morning. A film I made for @interpol will be auctioned in 7 pieces on @superrare
Find them at https://t.co/m31joB4XHS

— David Lynch (@DAVID_LYNCH) October 26, 2021

Daddy needs a new meditation mat

Rising Eth prices and gas fees have killed a lot of my purchasing. Mainly focused on topshot and still turning a profit when flipping those. Also took a chance on a MLB icon pack today. No marketplace yet, so who knows if the pack will have a plus expected value.

Sold one of my rare Bulls NFT rings for $300. They screwed up the marketplace launch and made it difficult to buy, so I just priced it to recoup my total cost. Still have two more that I can profit from. If I can get ~$300 for the other rare one and a little more for the iconic, I’ll be happy with the investment.

https://www.youtube.com/watch?v=S3QiUH_JHBk

If I can get... I’ll be happy with the investment.

Glad to hear you may make some money out of your speculation. But calling them an investment just seems wrong.

https://www.twitter.com/Bowsnonk/status/1455279107743305734

Coiners Taking L’s has been good this week with coverage of NFT NYC.

i hate this dumb fake money pyramid scheme shit so much

yeah it's excruciating

and if it works, if say, jeff, makes out well and makes a ton of money off of "investments": well, fuck you, it's exactly what's wrong with everything. but what can i say, i'm just a whiner. maybe i want jeff to make 1 trillion dollars off of total bullshit. what does it matter

what a fucking terrible world

it may be how the "world" works, but fuck the world, if this is how it works. a 100 times a million, fuck anyone involved with it. you might be rich and be able to afford your stupid bullshit, but i'd much rather go down with the losers, fucking hating you all the time

this thread might as well be titled "fucking asshole investors"

go lakers NFTs!

!!/!?1?1?1?1?1?1?!?!?!

of course anyone in the position of me is a loser. i lost already. you won, jeff. your dumb world of NFTs and crypto has won. congratulations

i'd rather eat shit, so i will

I HOPE NBA NFTS MAKE A BILLION BUCKS TOMORROW, HAHA

what a terrible fucking world this is, i don't want to live in it

i think the main argument against someone like me is like "what a fucking snobby asshole, i'm just trying to live here and make money and the world sucks anyway and i'm just trying to make some extra money", and my argument is something like "fuck you. fuck you. fuck you. fuck you. fuck you."

just such a failure of humanity, the worst parts of everything combined, gross, for money, for MONEY. fuck you

people who live for money, fuck you, and the fact that i care about how wretched it is, fuck me. but mainly, fuck you

gross

also fuck you

(you're cool)

Everything Karl said. NFTs crystallise so much that is shit about humans, capitalism, and the way we treat the world, and in the most vividly stupid way possible.

Solidarity with Karl. Everything about this is repulsive and I'm absolutely cutting contacts loose.

it's all reprehensible scams and the people participating are either sincerely falling for them or aware of how bad it all is but think they're smart enough to come out on top

I think jeff understands that he is making small gambles on a market that will collapse in the near future. i don't hate him........ much

NFTs are a junk product borne of too much money swilling around the system due to super low interest rates. Everyone investing in them will get burner, if that's any comfort.

Burned I meant

I think jeff understands that he is making small gambles on a market that will collapse in the near future. i don't hate him........ much

https://kotaku.com/square-enix-sounds-keen-on-nfts-and-blockchain-games-1848014388

blockchain gaming is next up. or rather, it's already happening but now it's about to be Final Fantasy Blockchain

As previously noted, Square Enix joined forces with Double Jump Tokyo, a blockchain tech company founded in 2018, for one-of-a-kind digital assets for its Million Arthur franchise. Square Enix has been investigating blockchain tech for the past few years, looking at the possibilities for creating new digital entertainment and creating a new business model. This is starting to feel inevitable. Everyone from McDonald’s to Quentin Tarantino seems happy to push and peddle NFTs. So why not Square Enix?

Now, as New Economy reports, Square Enix is interested in ramping up its NFT and blockchain business. During its most recent financial presentation, Square Enix discussed its Million Arthur effort, saying these NFT cards were “a proof of concept for establishing what synergies we can derive by combining NFTs with our business assets.” According to Square Enix, the initial Million Arthur NFT set, which launched on October 14, has already sold out—for Square Enix, no doubt a good sign for its initial business venture, regardless of its larger implications. This is why the game maker also stated how it has recognized that “NFTs have high affinity with our assets,” and that the “proof of concept phase is over.” This means, according to the company, that it “will transition to [a] full commercialization stage.”

NFTs are unique data sets on the blockchain, while blockchain gaming lets players win NFTs or even cryptocurrency—all of which leave greenhouse gases in their wake. Here’s how crypto exchange Zipmex explains blockchain gaming:

"Blockchain gaming gives players complete control over the digital assets they earn or gain through their participation in the games. Even if players pay real money for their digital assets in traditional games, they will lose access to them if the server is ever turned down. Both the money and the game assets would remain the property of the publisher or developer.

Meanwhile, players in blockchain games retain total ownership of their digital assets, allowing them to freely trade them with other players, sell them for real money, and potentially use them across numerous game universes."

etc. my rants against NFTs are incoherent. but there's two things here. one is an opinion that resonates with me: "This is starting to feel inevitable." i have felt that way for months now and it is hard to live with, though (I SWEAR!) I'm trying my best to ignore it.

the second thing, the thing that pisses me off is, is how people are getting sucked into the cryptocurrency world almost as an indirect consequence. i felt that firstly as "artists" started hawking NFTs. if you sell an NFT, you almost certainly will get crypto of some kind in return - ethereum, probably. there are a few (extraordinarily misguided) artist groups that are trying to sell NFTs without crypto being involved to the artist, so that the artist can just get some fucking US dollars in return instead of crypto, but those are very much the exception. once the artist has made a successful sale of an NFT, they're not knee-deep in crypto. they need a wallet, and they'll start paying attention to the prices of crypto, and in recent months/years, they'll probably notice that they have a lot more "money" in crypto if they keep trading it or holding onto it, because the entire thing is rising or sinking, generally rising, along with bitcoin. they are now primarily an investor, although once, back in the old days, they may have thought of themselves as an artist or a collector (of really bad art).

all of what i just said was for the relatively small sphere of "artists" and "collectors".

now imagine all of that, but people playing games. gamers. a hobby that is perfectly in sync with crypto. gaming, in fact, helped to PIONEER this line of thinking, paying premium, real life US dollars to purchase purely "cosmetic" digital assets - different costumes on characters, new avatars, new victory celebrations, things like that. gamers absolutely love to collect fake things and trade them.

again, one more time: imagine playing Final Fantasy Crypto. I'm going to assume it would be illegal for kids to do it, but the way things are going, who knows. but let's say it's some dumb 18-year-old straight out of HS, spending their summer vacation playing Final Fantasy Crypto. You do well enough in the game, you might win an NFT. Someone gives them ethereum for it, and suddenly they're an 18-year-old crypto investor. or maybe you can buy an item in the game (just like you can today), and it's $15 US Dollars - or $10 equivalent of crypto, at a discount. etc. etc.

It's easy to write all of this off as "well this is just tech stuff that some artists are doing", and now "well this is just some dumb game thing that people are doing now". it all makes me want to die because this is _encroaching_ on the rest of us

once the artist has made a successful sale of an NFT, they're not knee-deep in crypto.

typo police

let's say it's some dumb 18-year-old straight out of HS, spending their summer vacation playing Final Fantasy Crypto. You do well enough in the game, you might win an NFT. Someone gives them ethereum for it, and suddenly they're an 18-year-old crypto investor.

The ascendance of Thiel-ocracy.