A Lotus Cars NFT marketplace??? JFC

Is this batshit crazy?

  • Yes, and it's sad.

    Votes: 25 71.4%
  • No, it's dumb but they mean well.

    Votes: 7 20.0%
  • It's awesome! Also, I gambled my kid's college fund on Bored Apes.

    Votes: 0 0.0%
  • I don't know what an NFT is.

    Votes: 3 8.6%

  • Total voters
    35

EspritGuy

Emira Addict
Joined
Aug 14, 2021
Messages
1,774
Reaction score
2,408
Location
DFW
Emira Status
Emira Owner
It's not a generational thing. Most of the people involved in NFT transactions aren't particularly young.


Yup. The majority of transfers and transactions are from basically 3 classes of people.
  1. Speculative investors, which tend to be people with a ton of disposable income who want to gamble in new and weird ways, which mostly excludes the young. Gen X is featured prominently in this group. They love markets that are full of easy marks, and this is absolutely that. Some of the people in this group are marks themselves because they think they're smarter than they are, because they grasped the gambling aspect but didn't really understand the mechanics of how risk in an unregulated market operates.
  2. Celebrities, clueless rich people, and other high profile lifestyle types who have been hooked into the "luxury beanie babies" collectible aspect, I guess because they think it's edgy, like a Banksy mural that you can send by email. They are mostly very dumb and don't understand the technology very well - see news items about Seth Green for proof of this.
  3. Criminals. NFTs allow high value "art" trading as a proxy for criminal services rendered, just like they used to do with actual physical art. Since art is worth whatever someone is willing to pay for it, a criminal can "buy" a bad painting from another criminal for $100k and nobody can say it's not worth that much money... and only the criminals know that $99k of that art deal was to pay for a murder for hire, or for a crate full of drugs, or for some other criminal activity. NFT trading allows these people to do the same transactions right in the open, but without the inconvenience of art gallery or auction commissions, and without needing to move any physical art around in the world. The whole scenario is tailor-made for laundering money and creating a paper trail for the transfer of funds that gives beautifully documented plausible deniability in court.

Yes. Thank you.
NFT = Not Fully Trusted
New Fans Tempted
Never Fairly Traded
 

Similar threads

Top