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Ha! The value of NFT's has crashed. (Original Post) tecelote Sep 2022 OP
Only that anyone thought it a good investment to begin with. Ditto that cryptocurrency would be hlthe2b Sep 2022 #1
Never got that. My impression is that it was fueled by a lot of Chinese interest underpants Sep 2022 #2
Never understood what they were buying viva la Sep 2022 #3
non-fungible token, multigraincracker Sep 2022 #4
I wonder how many melanoma had Fullduplexxx Sep 2022 #5
Even at a huge loss. It cleaned the money JT45242 Sep 2022 #6
+1 2naSalit Sep 2022 #7
I never understood crypto currency or NFTs LetMyPeopleVote Sep 2022 #8
The Melania effect? Johnny2X2X Sep 2022 #9
There is a big NFT community of artists & collectors womanofthehills Sep 2022 #10
You have a good point. tecelote Sep 2022 #12
Now is the time to invest in this invaluable art dalton99a Sep 2022 #11
I was eight when the Pet Rock was introduced. Torchlight Sep 2022 #13
Never invest in anything that you don't understand. Midnight Writer Sep 2022 #14

hlthe2b

(102,379 posts)
1. Only that anyone thought it a good investment to begin with. Ditto that cryptocurrency would be
Fri Sep 2, 2022, 06:09 AM
Sep 2022

a secure investment.

I've thrown my share of $$ away, but not in such a speculative manner.

underpants

(182,904 posts)
2. Never got that. My impression is that it was fueled by a lot of Chinese interest
Fri Sep 2, 2022, 06:19 AM
Sep 2022

at least the basketball NFTs were bought heavily in China.

viva la

(3,321 posts)
3. Never understood what they were buying
Fri Sep 2, 2022, 06:33 AM
Sep 2022

When they spent thousands on a token saying they own some one of a series of ugly images of a "bored ape". And so often then whatever it was would get stolen.

I remember reading that in Victorian times, some London aristocratic men would bet on anything, like which raindrop would first reach the bottom of the window. This NFT craze seems like a less congenial example of that cynical exercise.

JT45242

(2,298 posts)
6. Even at a huge loss. It cleaned the money
Fri Sep 2, 2022, 07:23 AM
Sep 2022

Let us never forget that a large amount of crypto and nft money was just a spin cycle for laundering money.

Johnny2X2X

(19,118 posts)
9. The Melania effect?
Fri Sep 2, 2022, 09:23 AM
Sep 2022

She’s hocking her wares in NFTs right? No idea why she’s think people would pay to see her with her clothes on when anyone with a computer can see her fully nice and doing soft core porn.

womanofthehills

(8,774 posts)
10. There is a big NFT community of artists & collectors
Fri Sep 2, 2022, 09:44 AM
Sep 2022

I find it fascinating. These people also are also having big get out the vote drives in their communities to vote for those who are pro crypto.

I don’t know why you would be happy it crashed, as selling NFT’s of their art has improved the quality of life for many artists families.

tecelote

(5,122 posts)
12. You have a good point.
Fri Sep 2, 2022, 10:19 AM
Sep 2022

It's not the people. It's the medium itself. It always seemed over-hyped and I'm not surprised it crashed.

I expect with time, it will self-correct.

Torchlight

(3,361 posts)
13. I was eight when the Pet Rock was introduced.
Fri Sep 2, 2022, 11:46 AM
Sep 2022

I invested in it with three weeks allowance, and selling my Bionic Woman bedroom poster to my brother to make up the difference. I was disappointed (to say the least) when it turned out to be exactly what my parents warned me it would be, when it turned out to be exactly what common sense dictated it was - a simple rock in in a pretty box with a ton of great advertising.

I've tried to avoid that same mistake, and for the most part, have. As an adult in the present day, it's just weird watching my peers fanboy-buy them. It's just a rock.

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