NFTs, the next wave of stupidity

Sprout · Aug 30, 2022

Pekelo said:
Look, who is pumping this shit:

https://www.cnn.com/2022/08/30/politics/melania-trump-mar-a-lago-search/index.html

The former first lady keeps her attention on NFTs
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After months of spending time daily blocking twitter bots shilling the next NFT with $ for Likes, Retweets and Tags, I'm tending to become a convert and say; "Yes, nft's are stupid"

Former FLOTUS pumping NFT's is peak grift.

Pekelo · Oct 9, 2022

The famous, the wealthy, the scammed:

Cryptjitsu · Oct 10, 2022

RedDuke said:
I mentioned it multiple times, almost every big sale was a fake wash trading. This shit is not worse much. I have to say $25 is a reasonable price.
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Most of it is wash trading, just like the real life art world.
Bored Apes executed essentially the same strategy as is done with horrible modern art.
Celebs & influencers were approached early, got theirs, then proceed to shill en masse.
Retail apes in.
Voila!

The_Krakenite · Oct 10, 2022

As posted months ago on this forum, we knew 99% of this bloated NFT shit would bubble-pop. Not sure why anyone should be surprised now.

The more you see millennial gurus pimping something on Youtube, the quicker it bubbles and busts. Nothing new to see here folks!

Pekelo · Nov 17, 2022

So this is what happens when you didn't take a screenshot of your NFT:

Pekelo · Dec 2, 2022

Honestly, I would pay for this if this was an NFT. Oh wait, let me just post it here instead:

Fraud and Plundering in the Bahamas by Degen_Alfie

The_Krakenite · Dec 2, 2022

Now that prices are depressed to shit... I'm buying bits and pieces to the equities that are tired to NFTs. This is so much funner than buying at the top!

ph1l · Dec 3, 2022

Coinbase "pawses" on going ape.
https://finance.yahoo.com/news/coinbase-pauses-plans-bored-ape-202543270.html

Coinbase Pauses Plans for Bored Ape Yacht Club NFT Short Film Trilogy
Andrew Hayward
Fri, December 2, 2022 at 2:25 PM·3 min read

At the peak of Bored Ape Yacht Club hype earlier this year, cryptocurrency exchange Coinbase announced a trilogy of short films inspired by the NFT project during the run-up to the launch of the exchange's NFT marketplace. But after releasing the first entry in July, the company confirmed to Decrypt today that it has paused further production of the series.

“We are constantly evolving our content strategy and have decided to pause production of the remaining two films while we identify the best path forward for the creative,” a Coinbase spokesperson told Decrypt. “We will continue to focus on more immediate creative endeavors.”

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The spokesperson declined to elaborate on the reasons for the production halt.

The Degen Trilogy had the blessing of Bored Ape Yacht Club creator Yuga Labs, and it was intended to feature various Bored Ape characters submitted by their respective owners. Coinbase’s terms stipulated that it would pay $10,000 worth of Bitcoin or ApeCoin to the owner of each chosen Ape, in exchange for licensing rights for the films.

The first installment was released in July via YouTube and social media platforms, with the five-minute CG-animated short introducing human characters on an ApeCoin-themed hunt in a skyscraper filled with “money zombies”—with only a handful of brief Bored Ape appearances.

It was widely criticized by the NFT community, with social media commenters knocking the confusing story, lengthy credits sequence, and lack of meaningful Bored Ape Yacht Club elements within the first entry.

The timing was also deemed unfortunate by some, as the film launched after Coinbase laid off about 1,100 people in June. “Imagine getting laid off by Coinbase [because] they couldn’t afford to pay you, and then they come out with this,” tweeted pseudonymous NFT artist, Hawkward.

Beyond layoffs, much had changed from April’s announcement to the July rollout. The once-flying NFT space was struggling mightily following May’s crypto market crash, Bored Apes had lost significant value in that same span, and Coinbase’s long-awaited NFT marketplace failed to gain traction after its launch.

Months later, the situation isn’t any better. NFT sales keep falling month after month, Bored Ape prices recently dropped below $60,000—down from a peak of $429,000 worth of ETH in April—and Coinbase’s stock price has crashed to all-time lows amid continued market struggles.

Justin Bieber Paid $1.3 Million for a Bored Ape NFT. It’s Now Worth $69K

The Coinbase NFT marketplace has yielded only $7 million in trading volume since launching in April. That’s less than leading marketplace OpenSea typically manages in a single day. Coinbase Chief Product Officer Surojit Chatterjee, who had overseen the launch of the marketplace, departed the company in November ahead of additional layoffs.

In an August interview with journalist Laura Shin on the Unchained podcast, Chatterjee admitted that the first entry in the Degen Trilogy “probably didn’t hit the mark” for “some people,” and said that it was “something our marketing team tried.” Citing Coinbase’s buzzy Super Bowl ad this year, he added, “Some things are more successful than others.”

Despite falling Ethereum asset prices, the Bored Ape Yacht Club remains one of the best known and most successful NFT projects to date, racking up more than $2.5 billion in trading volume since its April 2021 mint. Yuga Labs has launched a series of follow-up NFT collections, including land deeds for the upcoming Otherside metaverse game.
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But you can watch the condensed version here.

Pekelo · Dec 7, 2022

Pekelo · Dec 13, 2022

Celebrities are being sued left and right for stupidly promoting BAYC:

https://www.essentiallysports.com/w...tephen-curry-after-a-staggering-losses-claim/