These threads should be in the Entertainment section. (or completely banned as pennystocks are not allowed)
As much as I'm not a fan of NFTs, you could just stay clear of the Crypo Assets forum. I imagine you will have a longer life this way.
You see you are wrong. Seemingly legit discussions legitimize this idiocy. So someone comes here, reads about it and hey, they are discussing it as a legit investment, so why shouldn't I invest in it? (not everybody is as smart as getting the points) Also there is a reason for not allowing pennystock talks. So noone can pump and dump here them. Interestingly, if you are pushing your owned NFT or crypto you are doing the same as a pennystock pumper. If you have a valid argument against this, I am listening... But crying about why I am here and making sense, that is just sour logic.
The other is GREED. What is your point? You are mentioning this because you envy my facts or logic? Why don't you guys lobby Barron so he would make this a safe place for you?
There are VC's playing in the NFT space. Don't take my word for it, dyor. It means there's a lot of dumb $$$ pouring into the NFT space Flipping NFT's is a big grind and lots of work. The article in the OP clearly states that. Flipping NFT's is very difficult now compared to last year. Very competitive and very risky ---------------------------- A big NFT event is happening this Saturday 4/30/2022 and there are opportunities to make lots of $$$ and also to lose lots of $$$ Some people are taking out loans. Not me, I get the NFT as airdrop for holding a $400K+ Bored Ape Instead of complaining, and being salty how about you participate and take risks?? Show these VC funds what kind of elite traders you are and frontrun these bitches to big profits $$$ https://twitter.com/search?q=#otherside&src=typed_query ----------------------------------
I don't know if this is him, looks like a match from what he described in the article. Can anyone verify his public address? https://nftbank.ai/portfolio/NFTsAnonymous
The difference between fashionable collectibles vs innovative art. One is for short term speculation the other has long term durable value. There is some overlap which taps into generative art. One domain cares about innovation, provenance and the march of art history, the other not as much. So where the collectibles tap into sky high valuations this has much to do with memberships, access to exclusive "alpha" and playing a classic in/out hexing game - "if you are part of the club you are gonna make it, if you're not, then you are not gonna make it"
You have a point. In some ways, NFTs can be thought of as penny stocks that are looking for a pump before the dump. But as others are saying, high value collectibles would be a gray area, and I think we all agree that the art world with regards to paintings and other artifacts can be just as speculative. But just as a penny stock or Enron stock might not be representative of the entire market, NFTs are not representative of the crypto market. The thing with penny stocks though is that the pump is usually because of some promised future performance that never materializes. With NFTs, there is no future cash flow or promised productivity. Its only promised future higher value. And this is exactly what art is based on. The Picasso painting will never produce anything or pay a dividend, but you wouldn't think of it as a penny stock. So I think most people going into NFTs realize they are only buying it hoping for price appreciation. And in fact, some NFTs might in the future even give you special perks for being an owner. I'm not saying I agree with it all, but for those who see the value, why stop them?
1. NFTs are neither. 2. You are saying Justin Bieber didn't think of paying 1.3 MM for a cartoon figure as an investment? He just likes to overpay for everything? Don't kid yourself, both NFTs and cryptos in general are mostly owned because of the future belief that they can pass it to an even bigger idiot for a profit, and for a pretty hefty one at that. Just because it is not stated in any white paper, it is still true. And they are not even shy about it, when they predict 100K or 3MM BTC. Sure, it is not a promise, it is just a prediction. Just watch the current interview with the owner of CFX, who when explaining high yield crypto investments, he accidentally describes ponzis. Would be pretty funny if it wasn't sad.