NFT prices then and now

[Demovictory9]

sold last year for $2.9Million, last auction bid $280





1st sold for $1Million, resold for $138,000



sold for $520,000. lost half its value in 10 days



https://www.msn.com/en-us/news/technology/they-spent-a-fortune-on-pictures-of-apes-and-cats-do-they-regret-it/ar-AAXHTUa

They spent a fortune on pictures of apes and cats. Do they regret it?

Deepak Thapliyal, the chief executive of the cryptocurrency company Chain, who purchased a rare NFT of a pixelated alien in February for $23.7 million, isn’t afraid. “My decision to purchase a rare Alien Crypto Punk remains the same as it is today,” he said in a statement to The Washington Post. “It is a rare piece of digital art which will have a lifetime of value to the beholder.”

Meanwhile, Frank Chaparro, an NFT collector who works for the crypto news firm The Block, said he has paid more than $20,000 for his collection of NFT’s, which includes tokens like Froyo Kittens, which are images of cats in bowls.

Link to tweet

/photo/1

Nowadays, they probably have very little value, he said. But Chaparro added that he isn’t worried because what drove him to purchase these NFTs wasn’t a desire to make money, but an attraction to the characteristics of the image and the community they created.

“Does it hurt? Of course,” Chaparro said. “You want what you have to go up, but think about all the things you enjoy having that really don’t have value but they say something about yourself.”

[ret5hd]

1. "...but they say something about yourself."

Yes. Yes it does.

[bucolic_frolic]

2. I still opine that NFT's and crypto were a vehicle for hiding asset bubbles

Not a lot different than tract housing, Florida, 1920s, or the 2008 housing bubble, or tech stocks 2001 (Lucent, WorldCom, and all the rest).

Gravity has not been repealed. What goes up must come down. Peak Oil is here again.

[onethatcares]

3. "they say something about yourself"

yeah, YOU HAVE TOO MUCH MONEY.

[Hugin]

4. Part of me thinks that NFTs and crypto are an economic reaction to...

99% of the established coinage and assets being locked up by 1% of humanity.

Adaptation led to the development of an economy by an ambitious group who recognizes they are likely to always be on the outside of the official economy looking in.

The danger being when the two economies bleed into each other with one being unregulated and the other highly regulatory. Also some will use any means of transfer to launder the other.

So, here we are.

[FalloutShelter]

5. As a fine artist, I am happy to see the NFT

grift die. It has been all the talk in the art community much to the distress of amazing artists that prefer to live in the actual world where it is harder and harder to make a living in the arts.

A fool and his money are soon parted.

[Midnight Writer]

6. I'm starting to think maybe these vehicles are not a good place to put my retirement savings.