One of Ngannou's NFT was sold at 50 ETH.

Klopp's Shining Teeth said:
NFT is Non fungible Token that runs on Blockchain. Think about it a copyright system, You tokenize your old artworks, photographs, video, gif, meme , collectable etc & then no one could counterfeit it. It runs on Ethereum blockchain. Tokenizing one of your artworks is called Minting.

Now this Minting requires a small amount of gas fee or transaction fee. After minting them you can put them on auction or sell it on a fix price.
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Been in Crypto since 2017. Just invested in a NFT project (ERN) Ethernity. Looks extremely promising check it out.
 
iwantgsp said:
You obviously don't have enough intelligence to continue our conversation. Goodbye.
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<36>

Said the guy who calls somethjng he doesnt understand scam.
 
tgo007 said:
Everyone thought bitcoin was dumb when it was first invented
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Not everyone, people who saw its potential early have done pretty well. Like with anything that is a transformational invention.
 
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baiguishishenme said:
So people are buying digital art that's only value comes from the knowledge that you're the genuine owner as opposed to someone who just copied a jpg?
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That's how all physical collectibles work too. You have a genuine Monet? I just printed a copy. You have a baseball signed by Hank Aaron? I just forged his signature on my ball too. But for some reason no one's buying my collection.
 
JustBleed69 said:
Wtf is ETH or NFT?
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ETH is Ethereum a Crypto coin & I have already posted about NFT on one of my earlier posts, Here I am repeating it
NFT is Non fungible Token that runs on Blockchain. Think about it a copyright system, You tokenize your old artworks, photographs, video, gif, meme , collectable etc & then no one could counterfeit it. It runs on Ethereum blockchain. Tokenizing one of your artworks is called Minting.

Now this Minting requires a small amount of gas fee or transaction fee. After minting them you can put them on auction or sell it on a fix price.
 
Londonjitsu said:
Impressive.
I hold Ethereum. I'm really enjoying this bull market.
Made a load of money doing nothing but holding my crypto.
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Just bought an ETH a few days back. On average how long do you hold your crypto?
 
CerebralKnievel said:
Bitcoin transactions and many others are far from instant, and their use value is that they are indeed traceable within their network.
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With Bitcoin you can move large sums of money across the world in an instant. Try moving $100,000 by bank transfer and see the headache you get.
 
FKAri said:
That's how all physical collectibles work too. You have a genuine Monet? I just printed a copy. You have a baseball signed by Hank Aaron? I just forged his signature on my ball too. But for some reason no one's buying my collection.
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I've never purchased a real Monet because it brings no real value to me over just owning a copy or replica. The only reason I'd ever purchase something like that is because there's some idiot out there willing to buy it for more.
 
baiguishishenme said:
With Bitcoin you can move large sums of money across the world in an instant. Try moving $100,000 by bank transfer and see the headache you get.
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I cant speak to experience, but moving bitcoin is definitely not instantaneous. I dont doubt that it could be faster than a cash transfer between different institutions, though.
 
greenhawk said:
Man this whole NFT stuff looks like a big money laundering op.
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It's money laundering mixed with a thing called "Wash Selling" to create a false sense of value in a market thru fake sales between buyers and sellers working to split the revenue. Then the "gateways" that these "drops" are on are basically just shitty art auction websites where you're forced to buy up ETH to help make random ETH holders and miners rich because you have to pay a fuckload of gas fees and other transaction costs.

One of the gnarlier rich-guy pyramid scheme hustlers in modern times quite honestly as youll find lower and lower tiers of people like the OP making these threads basically to shill for the concept and their investments.
 
I was pissing my pants when I got into bitcoin. No way I’d get into that stuff but to each its own.
 
baiguishishenme said:
I've never purchased a real Monet because it brings no real value to me over just owning a copy or replica. The only reason I'd ever purchase something like that is because there's some idiot out there willing to buy it for more.
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That's called "greater fool theory" buying.
these markets are being built on "washing selling" to give the sense that lots of people are paying huge bucks but it's really a small segment including some really rich guys trying to get media attention more than anything.
Like some scam artist named Justin Sun made his own sketchy Ethereum copy a few years ago and is now running NFT auctions for Lindsay Lohan where he pays here to list her stupid photo or video clip in his fake currency, then he bids a bunch on it to make it look valuable lol.
 
BigDramaShow26 said:
You are looking st it completely wrong. Bitcoin is not a stock, it is a currency.

If you want to think of it as a stock then think of the idea of block chain as the stock itself. And if you do your research the idea of banking compared to block chain seems so ancient and ridiculous.

Just think about this, 10-15 years ago the idea of sending money through Venmo, PayPal, paying bills online seemed ridiculous right? Things go in waves. Blockchain is the future. If you aren't already putting a % of your paycheck into several crypto then you will be sorry later.
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I don't think many people thought those payment services were rediculous, or a scam or a pyramid scheme. They likely underestimated the value and the scale of digital transactions that created that value.

I am still very skeptical of digital coins and bearish on blockchain in general. Where would any of it stand the day after legislation is passed that subjects it to oversight similar to traditional banking? What if banks offered the same services without the need for coins or blockchain at all?
 
NFT's are currently in a beta stage imo, but it'll be even bigger in the next 3-5 years. You'll start seeing content creators and all sorts of entertainment companies connect the digital world with the physical.

Just to give you an idea of the type of money that's just starting to get involved..

https://autograph.io/
 
baiguishishenme said:
With Bitcoin you can move large sums of money across the world in an instant. Try moving $100,000 by bank transfer and see the headache you get.
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Useless example for the common person and great for a bunch of organized crime rings and cartels and chinese rings.
Just because we can marginally improve the Wire and ACH banking systems with new tech doesn't mean it needs to be on a specific sketchcoin just because some rich bros and their fans own it and cheer it and use up enormous amounts of grid energy.
Countries have economies and currencies for a reason and there are societal repercussions to everything.
 
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