NFTs .... am i missing something?

[d000hg]

Seems rather a fragile commodity, because you only have to change one pixel of a digital image and a hash function of it will be completely different, unless someone has invented a super-smart translation and clipping and colour-tweaking invariant semantic hashing system.

Well google image search and similar can find the same image when it's been slightly altered, a photo of the photo, etc.

[Jog On]

They are unique digital assets. Currently mostly digital art that's trading for fairly large amounts. I've bought s few 4 figure ones and am building up quite a nice collection, will sell some but keep some of the rarer ones.

They have utility and use cases that are still being discovered. Some are just unique jpegs, some are online game characters/spaceships/in-game items. Some of the ones I have will give me airdops of other tokens/NFTs and some even generate passive DeFi income. Some are characters/items from play-to-earn games that are still in development.

At the moment most of them are PFP (profile pic) collections which are usually a collection of typically 10,000 images with randomly generated mixtures of a set of traits. EG - 10,000 'apes' with randomly generated backgrounds, skins, hairstyles, accessories etc. Some of these traits are common, some rare and some super rare. Combinations of traits make up an NFTs rarity and value.

If you ever played 'Top Trumps' it's like that. If you ever played MMO games like WOW and played the auction house (scouring for underpriced items then relisting them for profit) that's how you can play the NFT flipping game for real money.

They are in a bubble right now that will probably pop when this market cycle does so if you want to flip some JPEGS I'd get your skates on. Also they are illiquid - you can't just sell it back to the market when you want, someone else has to buy it.

Beyond digital art and PFPs the potential is huge, especially for music, legal contracts and way more.

[Paralytic]

The world is broken; i want to get off.

(I might sell my CUK account as an NFT before doing so, however)

[vwdan]

I've just moved my entire pension pot over to a collection of vintage 16 bit bitmap porn

[vetran]

I've just moved my entire pension pot over to a collection of vintage 16 bit bitmap porn

you hoping something will grow?

[OwlHoot]

It's art... value is entirely in the eye of the purchaser.

Can we sell NFTs of famous posts/threads on CUK, more importantly?

And we have to remember, there were Septics buying and selling rocks not long ago, and probably still are.

Some Yank probably has a pile of rocks in their "garaaarrge" wondering if and hoping they will shoot up in value before long!

[Jog On]

Sotheby’s Brings in $26 Million with Bored Ape NFT Bundle

The sale only had two lots on offer. One was a bundle of 101 Bored Ape Yacht Club NFTs. That lot realized $24.4 million. Bored Ape Yacht Club (BAYC) is a profile-pic project (à la the popular Crypto Punk series) with 10,000 unique Apes, each has traits of varying rarity. The Apes exploded in popularity and price since they were released in April. Just last week, Bored Ape #3749, sporting a sailor’s cap, gold fur, and lasers coming from its eyes, sold for $2.6 million on the NFT trading platform OpenSea.

Those apes launched for 0.08 Ethereum each - $241.38 at today's price.

The Gecko in my profile pic I bought for 4.3 SOL (Solana), the floor price (cheapest on offer) for a Gecko with the 'aggressive mouth' trait this one has is currently 21 SOL so almost 5x what I paid for it last week. 1 SOL is around $142 right now, reached $215 earlier this year and could go as high as $500 this bull run.

Scoff all you like and yes please stay out of NFTs - thanks

[Whorty]

They are unique digital assets. Currently mostly digital art that's trading for fairly large amounts. I've bought s few 4 figure ones and am building up quite a nice collection, will sell some but keep some of the rarer ones.

They have utility and use cases that are still being discovered. Some are just unique jpegs, some are online game characters/spaceships/in-game items. Some of the ones I have will give me airdops of other tokens/NFTs and some even generate passive DeFi income. Some are characters/items from play-to-earn games that are still in development.

At the moment most of them are PFP (profile pic) collections which are usually a collection of typically 10,000 images with randomly generated mixtures of a set of traits. EG - 10,000 'apes' with randomly generated backgrounds, skins, hairstyles, accessories etc. Some of these traits are common, some rare and some super rare. Combinations of traits make up an NFTs rarity and value.

If you ever played 'Top Trumps' it's like that. If you ever played MMO games like WOW and played the auction house (scouring for underpriced items then relisting them for profit) that's how you can play the NFT flipping game for real money.

They are in a bubble right now that will probably pop when this market cycle does so if you want to flip some JPEGS I'd get your skates on. Also they are illiquid - you can't just sell it back to the market when you want, someone else has to buy it.

Beyond digital art and PFPs the potential is huge, especially for music, legal contracts and way more.

Thanks for the post ... I assume it made sense to somebody, but that went way over my head!

[Whorty]

you hoping something will grow?

Hes hoping for a quick spurt

[jayn200]

There are 2 people buying NFTs, first is people who just don't understand there is no value in them, no rarity, a lot of those people don't understand you aren't actually purchasing any IP or copyright or trademark. The second people are people who understand there is no value there but are just speculators who understand that regardless of whether or not NFTs have no inherent value they are trendy and there are enough idiots and other speculators out there to drive up the price enough for them to make some cash.