- Joined
- Mar 17, 2020
You and me both
NFT (Non-Fungible Tokens) - Files as crypto currency
- Thread starter Spergerella
- Start date
- Joined
- Dec 3, 2020
So apparently the VCs that support solana own about 93-97% or more of the supply and they recently did a pump to keep the price from collapsing. This makes me think a rugpull its imminent and whoever is still hodling instead of selling its gonna want to anhero after this.
As for NFTs I think its telling that even in big places like opensea you got bots autobidding on their own NFTs to drive up the prices. Between that and having to pay influencers I'm getting the feeling the wave might already be over.
Did he actually sell any? for how much?
- Joined
- Jun 10, 2021
I saw that as an ad and didn't follow further. Mind you, the guy didn't look like a smart or cultured person so he's either an ignorant fool that actually believes in this horseshit or a piece of shit that is trying to scam people. Or maybe a bit of both lol!
I don't mind, except for the scammers that try to milk people out of their money with them, I hate them on ethical grounds. Every NFT fan I met so far was either an asshole with delusions of grandeur or a scammer, so I can say that I have a reason to dislike their fans as I personally had some problems with them. Now, I really fucking hate the idea of companies forcing this shit upon people. If I buy I game that locks me out of almost everything for not owning the NFT for the content, this really pisses me off and not only because I get fucked on my work breaks but rather because this fucks over the customer, in this case you're paying full price to get shafted, exactly like in that zombie game that came out some years back and instantly flopped as you had to pay for fucking everything in the game with real cash!
Tuturesque
kiwifarms.net
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- Jan 29, 2022
I doubt solana will be a rugpull. Just that it will be a more centralized chain than bitcoin or ethereum or cardano. That's not necessarily a problem, but its important people recognize that's the reality of the chain, and understand the risks associated with that.
The NFT wave is not over. Far from it. Just that the initial hype wave is over, but the next wave is going to be even bigger.
- Joined
- Dec 3, 2020
Here's the post I'm talking about:
Yesterday, the Wormhole bridge one of Solana's biggest bridges lost $320m in a hack. Within hours, a trading desk Jump Capital agreed to replenish the entire amount so that the liquidations calamity is avoided. The loss of the peg due to the hack could have sent the network into cascading liquidations arising out of leveraged positions. In stepped a VC to save the day.
Lost $320m? Thats fine.. we got you covered.
The fact that VCs are ready to cover these kind of losses shows that the entire Solana "ecosystem" is just one big sham propped up by these same VCs. They dont want their baby to die just yet. Apparently Jump Capital owns a significant stake in Wormhole and is ready to sink such a huge amount to cover losses.
In Solana, the top 1.34% of addresses owns 99% of the circulating supply. Most of the supply was sold to early VCs and insiders at a massive discount to retail. Insiders and bad actors like Chamath have publicly joked about using Solana as a vehicle to play their pumps and dumps out, leaving retail to hold the bags when the sham unfolds.
VCs dont just sink in $300m to save the day, unless they have already taken out 50x that amount - that is what Solana has enabled them to do already.
So a buncha SOL Shills be like hurr durr even ehtirium had hacks and was saved by fork. Well the DAO hack was solved by cryptography solutions (forking), not by VCs stepping into save the day. If you think both are the same, you clearly understand NOTHING about crypto whatsoever. The DAO hack and the hard fork took over a month to assess, propose solutions and resolve. It wasnt an overnight fix, like what solana is known for.
When Solana goes down - over night fix.
When bridge hacked? - overnight fix.
How long will Solana depend on overnight fixes to bail the network out?
Edit: The mental gymnastics of SOlshills is just incredible. They have clearly consumed all the kool aid in the world to be supportive of this kind of institution manipulation. Yes, other projects also have VCs, and Eth projects have also been hacked. Yet none of the ETH projects have been bailed out in this manner by VCs and institutions. I have been extremely critical of ETH too. There is virtually a hack a day on Eth due to poor code or implementation or bugs, but none of the ETH project hacks have been "replenished" by institutions. If an ETH projects gets hacked and people lose money, well you are shit out of luck. As evidenced by hundreds of hacks and scams before.
The first major Solana hack, and less than 24 hours later the institutions propping up solana claim they are bailing everyone out. If this is not the least bit suspicious to you, then you are just being slow boiled alive.
Solana itself is a long term pump and dump that is devoid of any decentralisation and fundamentals except a bunch of whales propping it up. The tokenomics of every single Solana "ecosystem" project is puke worthy - from Serum to Raydium, Bonfida, Saber etc all have massive supply in the hands of a few, an incredibly high FDV and a low float and funny unlock mechanisms - perfect conditions for institutions to keep dumping on hapless retail investors like the ones supporting Solana in the comments here who dont understand anything about crypto or finance.
Alright, why?
Tuturesque
kiwifarms.net
- Joined
- Jan 29, 2022
I always find these long winded debunks to be just that: long winded debunks. I wouldn't compare ethereum and solana. Totally different projects. I find it silly people who say sol is an "eth killer", since they're different projects with different goals and different plans for reaching those goals. Solana is trying to be more like a visa. Ethereum is trying to be more like a scaleable bitcoin.
NFTs are going to see a lot of adoption for things unrelated to art. Coachella for example has their NFT thing, where the owner is granted life time VIP access to the show (depending on which you get). Kings of Leon did something similar some time ago. There's a lot of interest in using NFTs in supply chain, though that's bleeding edge and not refined yet. I picture a lot of certifications being represented as NFTs, as proof of completion of some program. IOHK is doing that right now with the Plutus Pioneer Program. It's pretty easy to fake a certification, so that's an interesting take. It's anyone's guess what form it takes though.
- Joined
- Dec 3, 2020
You really didn't read the post did you?
What kind of certifications?
As for coachella I'm surprised they didn't get grilled over that given their fanbase is the same kind of yuppie idiots who have been ranting against NFTs as if it was the devil.
![LinkinParkxNaruto[AMV]](http://uploads.kiwifarms.st/data/avatars/l/61/61177.jpg?1699571951){kind=avatar}
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Mukbang Influencer
kiwifarms.net
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- Feb 13, 2022
Outside of rare multiplayer game items and trading cards (perfect use of NFT and very cool) and already popular influencers/artists fundraising off their base, this is useless. People buying random shit for actual $$ is beanie baby territory. These dolls were all the hype during the dot com boom and it seems like a remarkably similar phenomenon.
- Joined
- Sep 30, 2018
You gotta be more specific than that
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- Aug 2, 2021
Tuturesque
kiwifarms.net
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- Jan 29, 2022
In game assets. It makes sense, its just an extension of things that already exist. As the axiom goes, people want something completely different that's exactly the same as the last thing. The added gimmic with NFTs being they can exchange in game assets for real money. The key thing for me is that the existence of the network and assets aren't reliant on issuers to stick around or exist, since they're off loading maintenance of that infrastructure to a distributed ledger like ethereum. In less buzzword speak, if the company that issued an in-game item NFT goes down, the NFT doesn't go down with them. That's always been the big issue, like when Cartoon Network got rid of Orbit, they got rid of everyone's collectible items. Since theres so much reliance on the game company keeping the game alive, if the game isn't making them money, then there's no incentive for them to keep it alive. Once the game goes down, so too do the in-game items. At least if they're NFTs, people could trade them forever.
From what I've seen though, most NFT based games are lackluster. Just loot crates and cosmetics or farming simulators. Sooner or later some body is going to find a creative use for it.
- Joined
- Jan 22, 2018
Commie hands created this video.
BlackPuppet
kiwifarms.net
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- Apr 3, 2019
Imagine artists wanting to draw furry scat for a single individual instead of creating any art they want and it selling for a few hundred dollars.
BlackPuppet
kiwifarms.net
- Joined
- Apr 3, 2019
Excuse the double post but I feel this is important enough to bring up.
youtu.be
Extremely Fungible Tokens, the anti-NFT movement that is meant to right click and save everywhere to "flood the NFT market". Problem is fundamentally it's flawed in the fact that its not on the blockchain. Doing it outside isn't flooding the market. Wouldn't a better alternative be to promote a more environmentally friendly marketplace like on ALGO, SOL, XRP, TEZOS, and such with reasonable prices for the purpose of supporting artists instead of reselling?
Extremely Fungible Tokens: The Anti-NFT Movement
Go screenshot an EFT: https://www.extremelyfungible.com/live-home*Affiliate Links*Browse all Otamatones: https://hamee.com/collections/otamatone?ref=TheRealS...
youtu.be
Extremely Fungible Tokens, the anti-NFT movement that is meant to right click and save everywhere to "flood the NFT market". Problem is fundamentally it's flawed in the fact that its not on the blockchain. Doing it outside isn't flooding the market. Wouldn't a better alternative be to promote a more environmentally friendly marketplace like on ALGO, SOL, XRP, TEZOS, and such with reasonable prices for the purpose of supporting artists instead of reselling?
Vect
kiwifarms.net
- Joined
- Dec 14, 2020
Okay. Accepted that we're dealing with concept technology that isn't really solving an immediate problem. But this entire conversation and debate feels like it's only taking place online by people who all have different ideas of what they plan for a thing they can barely articulate. It's nebulous, an idea that's thrown around, with claims that nobody can really agree on, there's no establishment of access, no customer face or insurance if it goes wrong or fails. It says something when detractors can have a single word argument and those trying to explain the basic concept have to struggle with comparable examples. Maybe the early adopters can help by introducing it physically to the public and putting skin in the game, accepting the risk of burn rather than always being cagey.
This thing in sitting in Hong Kong bold as you like,
People in Hong Kong aren't exactly tech adverse and NFT's as they stand now have a lot of fad potential, even if it's meaningless. It's tacky, but physical exhibitions and salesmanship I expect will attract mass casual interest and if it catches on, potentially foster a large crowd of normies who grasp the technology and then move to normalise the market online. I just feel the ceremony of a real-world introduction is required for the concept to build trust, because as everyone's gone to great pains to explain, it doesn't have inherit value, but has value attached to it. I think there is just going to be a limit to what you can convince people to accept purely through Twitter monkey avatars, though the exceptions are battling the rule, clearly.
This isn't an argument for or against the technology, which I can accept will be more than owning stupid pixel art. I think this is a different situation from crypto because it's a token of value, not a value, so the value of its encryption probably works against it. So as a complete noob with this stuff, viewing the discussion dance between 'machine made JPEGs' to 'digital security for real items' to 'COPYRIGHT' to 'can I sue somebody who screenshotted my NFT?' makes it look a failure of vision and marketing.
This thing in sitting in Hong Kong bold as you like,
People in Hong Kong aren't exactly tech adverse and NFT's as they stand now have a lot of fad potential, even if it's meaningless. It's tacky, but physical exhibitions and salesmanship I expect will attract mass casual interest and if it catches on, potentially foster a large crowd of normies who grasp the technology and then move to normalise the market online. I just feel the ceremony of a real-world introduction is required for the concept to build trust, because as everyone's gone to great pains to explain, it doesn't have inherit value, but has value attached to it. I think there is just going to be a limit to what you can convince people to accept purely through Twitter monkey avatars, though the exceptions are battling the rule, clearly.
This isn't an argument for or against the technology, which I can accept will be more than owning stupid pixel art. I think this is a different situation from crypto because it's a token of value, not a value, so the value of its encryption probably works against it. So as a complete noob with this stuff, viewing the discussion dance between 'machine made JPEGs' to 'digital security for real items' to 'COPYRIGHT' to 'can I sue somebody who screenshotted my NFT?' makes it look a failure of vision and marketing.
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- Joined
- Feb 19, 2021
Is this what we defended Capitalism to end up with?
IS THIS IT?!
IS THIS IT?!
It's not as easy or sexy.
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- Joined
- Feb 21, 2018
If you want to keep track of NFTs, this website is perfect for that:
www.nft-stats.com
NFT Stats: NFT market insights, top NFT projects and most expensive NFTs
Stats about the NFT space: Find the top NFT projects, most expensive NFTs and upcoming NFT drops. Data available for last day, week and month.
Just wandering
kiwifarms.net
- Joined
- Jan 12, 2020
I saw the video and one thing I found dumb. One of the argument of anti NFT peep is art thief! Yet they ask to flood th market? with unpaid work? Would it lead to the same thing.Excuse the double post but I feel this is important enough to bring up.
Extremely Fungible Tokens: The Anti-NFT Movement
Go screenshot an EFT: https://www.extremelyfungible.com/live-home*Affiliate Links*Browse all Otamatones: https://hamee.com/collections/otamatone?ref=TheRealS...
Extremely Fungible Tokens, the anti-NFT movement that is meant to right click and save everywhere to "flood the NFT market". Problem is fundamentally it's flawed in the fact that its not on the blockchain. Doing it outside isn't flooding the market. Wouldn't a better alternative be to promote a more environmentally friendly marketplace like on ALGO, SOL, XRP, TEZOS, and such with reasonable prices for the purpose of supporting artists instead of reselling?
Another thing that irk me is anti NFT claim that do comission to an artist is better than NFT but how many really did any comission?
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MaybeJaibait
kiwifarms.net
- Joined
- Mar 14, 2022
It looks like a fun little project for me. (I saw a similar thing a while ago: a free NFT generator which at least gives you a unique shitty JPEG, but it also lacks a blockchain) The NFT market is already full of shit, so I don't know how they want to "flood the market" while iterally dozens of "projects" start every hour. Heck, even ads start popping up about these scams.Excuse the double post but I feel this is important enough to bring up.
Extremely Fungible Tokens: The Anti-NFT Movement
Go screenshot an EFT: https://www.extremelyfungible.com/live-home*Affiliate Links*Browse all Otamatones: https://hamee.com/collections/otamatone?ref=TheRealS...
Extremely Fungible Tokens, the anti-NFT movement that is meant to right click and save everywhere to "flood the NFT market". Problem is fundamentally it's flawed in the fact that its not on the blockchain. Doing it outside isn't flooding the market. Wouldn't a better alternative be to promote a more environmentally friendly marketplace like on ALGO, SOL, XRP, TEZOS, and such with reasonable prices for the purpose of supporting artists instead of reselling?
Generative "art" is a scam.