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I get the concept with blockchain and proving sales and ownership. But so many of the posts I see seem to make no sense. One example is below.
A guy said he made a picture(drawing) / NFT.
Then he bought it from himself for a million dollars.
He then sold it to someone for $200,000.
I can't see where this benefits him other than 1) someone gave him $200K for it and 2) showing the NFT grows in value over time. Maybe? Thus making people think his future offerings are good investments? Can someone explain what I am missing here? Is the initial million fake money? Only "on paper" money?
Because several tax lawyers chimed in saying, for tax purposes, the initial sale from himself to himself doesn't matter. So he can't say he took a $800K loss on it. The second sale of $200K would be taxable. So again, how does this benefit him?
Maybe it’s just me I could be wrong but I don’t see the metaverse as something that will attract everyone and be used by millions of people like social media has, seems more of a niche for people that are into this kinda thing, I just don’t see it taking off.
VR headsets give some motion sickness and vision issues that ruins the experience too. The tech will get better, with glasses and better wearables, I think neuralink will get us closer to the matrix that everyone seems to want too
Think in terms of Pokémon cards, baseball cards, magic the gathering, whatever.
You own a first edition gen1 Charizard or an original print Black Lotus. Digitally, you own the exact hashcode that determines this is an incredibly rare version and every node on the blockchain agree that this is a rare copy and you own it.
That’s what an NFT is. A hashcode on the blockchain that says you own it. So for example, Jack Dorsey’s first tweet NFT is similar to the above. The entire blockchain agrees that that tweet was minted by him, is unique, and of its current owner.
Man, I'm still pissed that I sold all my MTG cards and they would have been worth a fuck ton now. ARGH.
here's an even shorter TL; DR then:
1. speculation
2. money laundering
3. bragging rights
4. they are stupid, you don't need one
Google Dutch tulips mania. Tulips were selling for insane prices at one point. And then they crashed. Not saying this will crash but real world value will catch up.
never looked into it but you can probably pay someone not an extraordinary amount of money or even learn how to make some yourself, which i assume will be copying some github repo, modifying some code, and sticking your images somewhere. the problem is the sluts have a broader audience of people to shill to, you just have tcg idiots, you'll have to make something with broad appeal and some good marketing or something that will go viral so people will dump money into yours. that being said, simply existing at this point in a mania, you can probably sell them for a modest amount of cash anyway.Legit, how the fuck do I make TCG NFT duckets? I'm sick of seeing all these IG sloots making thousands for selling drawings of cartoon characters and shit. Fuck.
never looked into it but you can probably pay someone not an extraordinary amount of money or even learn how to make some yourself, which i assume will be copying some github repo, modifying some code, and sticking your images somewhere. the problem is the sluts have a broader audience of people to shill to, you just have tcg idiots, you'll have to make something with broad appeal and some good marketing or something that will go viral so people will dump money into yours. that being said, simply existing at this point in a mania, you can probably sell them for a modest amount of cash anyway.