Here is what collectibles have generally needed to succeed:
A nexus to an already popular cultural product
A centralized method of production and distribution
Difficult to fake and easy for knowledgeable individuals to authenticate
Limited quantities
Demand
NFTs as a whole tick very few of these boxes, authenticity being the main one. However there’s a big difference between various types of NFTs. Just because I can pull out some printer paper and make a “collectible card game” doesn’t mean its valuable, and the same goes for people making NFTs on their own.
I see a lot more promise with something like NBA Topshot. This ticks all the necessary collectible boxes and I think this is a very interesting way to look at the future of collecting. I really don’t see the point with something like the LP NFTs, these seem much more like pure speculative investments with little to no organic demand.
As a whole, NFTs are incredibly interesting. The collecting side of NFTs doesn’t appeal to me, but I think there is a lot of room for them to grow. But there will always be people looking to make a quick buck on the next best thing, and that’s what we see here.
What are we discussing here? Everyone making bank with this stuff will obviously say it’s great. Everyone doubting it and waiting for actually ‘useful’ nfts won’t be affected until then. And lastly everyone who jumps on the bandwagon and gets burnt is not knowing it yet and therefore still hyped.
I’m certainly no expert on this but when one of my best friends says “Go” not only do I go but I share it with friends like the people here on E4. I’ve already gotten a dozen thank yous so I’m happy about that. 2 are making additional donations to the AokiFoundation and I’ll be hitting them all up lol.
Lastly, as far as getting burnt, best to pull out some and certainly never invest more than you can afford.
My apologies, there was just a statement above where you could purchase the NFT outlining his charity and the good it does. It seems as though that was just a fun fact about Mr. Aoki’s charity they put on the purchase page
So if one milks their followers under the guise of fomo and investing but gives 10% of their profit to charity then it’s all gravy? I’m sure there are some genuine NFT artists and things that will hold value, however, what most celebrities and Influencers are doing is jumping on the hype train to milk their audience.
People are okay with making money as long as themselves and their friends cash out. There is some perverse level of greed and preying on your fans while hiding it under the guise of investment.
The thing is, when the celebrity controls the supply, they have no incentive not to just milk that cash cow for all it’s worth.
They can just continue to pump out NFTs until it is no longer worth their time or until the bubble pops, when all their fans are holding worthless digital tokens and the celeb can be like “lol nfts were crazy werent they” while using their ivory back scratchers
So, discussion of viability aside, if there’s any doubt about the absurdity in some parts of the world’s economy today, this is evidence: NFT. Not saying the whole economy. Not saying Logan on the whole. But there’s certainly something ridiculous here, when all world economies still revolve around things that are physically tangible. (food and shelter) It’s probably personal preference, but I’m still not sold on how this is any different from buying one of those photos at Six Flags or Disneyland after you get off the ride. In This case, it’s not even a picture of you, but someone else. Am I missing something?
Much less gross if all of it goes to charity or at least something like half.
Probably most gross if the word charity is closely mentioned next to it and then you find 10% or less of it goes to charity. Too many times lately I see people unsure actually what if anything around an event is going to charity.
Wild times. Pigs get fed and hogs get slaughtered. Except the hogs on the selling side of the NFTs.
