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Deleted member 26533

Guest
But people are currently spending stupid amounts on them.

I feel the art side of NFT's is a bubble, however music artists will take back control through it.
Yeah, scarcity is 'in' right now.

See also:

- Nike tracksuits and trainers
- Pokemon cards
- Rolex, Audemars Piguet, Richard Mille
- Whiskey

I suppose we will see how long it continues. It's all a bit crazy at the moment.
 

Hugh Gains

Winger
But people are currently spending stupid amounts on them.

I feel the art side of NFT's is a bubble, however music artists will take back control through it.
NFTs are present are a ponzi. The use of the utility is interesting to see what will come in the future.
 

BRMC

Striker
NFTs are present are a ponzi. The use of the utility is interesting to see what will come in the future.
It all depends what the NFT is for.

Bands can now cut out the middle man and go direct to their fans. Smart contracts will allow them to earn royalties from them, and Kings of Leon are already dabbling in it.

Someone like Banksy could do the same and make even more £££. Why allow 3rd parties to sell prints of his work and profit from his hard work?
 

Hugh Gains

Winger
It all depends what the NFT is for.

Bands can now cut out the middle man and go direct to their fans. Smart contracts will allow them to earn royalties from them, and Kings of Leon are already dabbling in it.

Someone like Banksy could do the same and make even more £££. Why allow 3rd parties to sell prints of his work and profit from his hard work?
I'm comparing your jpeg avatars to things like ZED run. The former is digital ownership of a jpeg whereas the latter has more to it and it's the likes of zed run and what it's doing which make the concept of nft's interesting and you wonder where it will go.

In regards to Banksy, Damien Hirst did a collection of NFTs in which in 12 months time you can exchange your nft for a physical painting, you don't said painting is destroyed etc, i see the value there. But the majority of these NFT's are pumped and dumped by players on twitter and theres no way a jpeg is worth 100k.

The only reason BYAC was worth something was it allowed you to mint a MAYC for mint cost, so you were guaranteed to make at least 12 grand, which inflated the price of BYAC. That and the fact the prices keep going up because people keep buying, doesn't mean there value, its fomo. The fact that ownership entitles you to further rewards screams ponzi.

There numerous examples of someone having two accounts and buying their own nft for an inflated price, only to then sell it to some unfortunate soul at a cheaper price, who thinks hes got a bargain.
 
A fairly big announcements on Coti tonight with more to follow over the weekend. It sounds like all payments on the ADA platform will be settled with the Coti token....


ORN is another I think will be huge. Here's today's AMA they did with Crypto.com explaining what they do, and how their partnership will benefit eachother.

I bought a little bit of Coti on Friday. 95 euros I think. After your suggestion and a little bit of research.
 

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