Posted on 11/16/2022 4:18:02 PM PST by C19fan
Bored Ape Yacht Club hype was in full swing earlier this year as celebrities “aped into” the pricey Ethereum NFT collection. Some have even used their Apes to create products, themed restaurants, live performances, and more.
(Excerpt) Read more at decrypt.co ...
Justin Bieber Paid $1.3 Million for a Bored Ape NFT. It’s Now Worth $69K
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The trouble with the greater fool theory is eventually you run out of greater fools.
Never heard of a Renoir declining in value llike that. A Renoir is a physical object not some fad in the virtual ether.
I’ll give him $5 bucks for it.
Just think how much these birdbrain celebs lost on FTX.
NFT is the stupidest thing ever.
That said, Justin is worth $200 million.
NFT’s are digital cartoon drawings, for gods sake. Play stupid games, win stupid prizes
He would have made out better buying a Hunter Biden choice painting of pole dancing sluts.
Beat me to it!!
Buy low, sell High.
Beeber must have bought while high.
After losing all that cash, Justin must feel like a
Monkey’s Uncle.
To save even more space, some NFTs aren't even a graphics file. Instead, it's just a link to a site which may or may not still show the graphics image.
There's all this hype that block chains can be used to securely save contracts, medical records, etc. but the truth is that if entire documents are stored on the block chain then it will explode.
I wouldn’t take it if he paid ME $5 !!!
LMAO
Great art can fluctuate over time. Tastes change. IIRC, Andrew Lloyd Webber bought a lot of pre-Raphaelite when it was unpopular, for tiny amounts of money (hundreds of pounds a piece at one time). Now, they are worth thousands and millions each. Old Masters were bought on the cheap several decades ago too.
a fool and his money are soon parted.
This story is total BS in my opinion.
This particular NFT and a few others will be treated as a work of ART in the long term future.
In fact probably in 20 years an NFT of the Mona Lisa night be indistinguishable from an original.*
The Sordid Underworld of Art money laundering is quite fascinating.
*https://tardis.fandom.com/wiki/Mona_Lisa
one of the 10 best episodes in the Original Series
The pop happened a bit sooner then I expected.
Yep. On the other hand, the true classics will always be admired and appreciated.
I wonder if anybody has studied the frequency of appearance of major scams...Ponzi, Crazy Eddie Antar, Madoff, etc.
Does it take a time period in between for people to forget or be young enough to not have knowledge in the first place?
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