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Justin Bieber Paid $1.3 Million for a Bored Ape NFT. It’s Now Worth $69K
Decrypt ^ | November 16, 2022 | Andrew Hayward

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 ...


TOPICS: Computers/Internet; Society
KEYWORDS: crypto; nft; whoops
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To: C19fan
I think you got it right. The "block" for that NFT on the blockchain is the "certificate of authenticity". It doesn't mean the digital image it authenticates is worth anything.

In fact, it's probably more difficult to enforce than a copyright. If I aped the image of his ape and sold it 10,000 times what law can he use to sue me? Unless there is an accompanying ® issued by the USPTO?

21 posted on 11/16/2022 4:45:18 PM PST by monkeyshine (live and let live is dead)
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To: algore
Orson Welles: F is for Fake
22 posted on 11/16/2022 4:48:50 PM PST by monkeyshine (live and let live is dead)
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To: C19fan

I need to give Justin a sales call...

23 posted on 11/16/2022 4:49:42 PM PST by BookmanTheJanitor
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To: jpp113
NFT’s are digital cartoon drawings, for gods sake. Play stupid games, win stupid prizes

To be more precise, NFTs are just links to digital cartoon drawings.

24 posted on 11/16/2022 4:50:44 PM PST by throwthebumsout
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To: C19fan

Measured in personal buying power, the fall in the price of the NFT ape is minuscule compared to the fall of the fake US dollar.

Buy beans and bullets.


25 posted on 11/16/2022 4:51:05 PM PST by sergeantdave
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To: Leaning Right

“A Friend In Need”


26 posted on 11/16/2022 4:59:32 PM PST by oblomov
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To: throwthebumsout

Not if they confer copyright privileges, or may be redeemed for physical works of art by internationally-recognized artists.


27 posted on 11/16/2022 5:00:56 PM PST by oblomov
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To: C19fan

A “bored ape”??

Is this some iFag smartphone thing?


28 posted on 11/16/2022 5:07:00 PM PST by doorgunner69 (Let's go Brandon)
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To: EEGator

Ive heard people make money with non fungible tokens. But I don’t understand how they have value.


29 posted on 11/16/2022 5:08:33 PM PST by Dilbert San Diego
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To: Flick Lives

Einstein disagrees with you. He said that fools are an unlimited resource.


30 posted on 11/16/2022 5:08:36 PM PST by Jonty30 (Some men want to see the world burn. It is they that want you to buy an ele, ctric car.)
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To: C19fan

NFT’s are virtual real estate that you are supposed to be able to resell. I can’t see why anybody would buy one for investment purposes. If I created an NFT, I can just press copy and paste and create another.

Even if I didn’t do that, somebody else could.


31 posted on 11/16/2022 5:09:56 PM PST by Jonty30 (Some men want to see the world burn. It is they that want you to buy an ele, ctric car.)
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To: who_would_fardels_bear

“The sad thing is that in order to keep the block chain from getting too big the NFTs tend to be simple small JPEGs.”

An NFT can represent anything, even real objects.


32 posted on 11/16/2022 5:10:59 PM PST by TexasGator (!!!)
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To: BookmanTheJanitor

The rock was solid. You paid for the humour in the accessories.


33 posted on 11/16/2022 5:12:20 PM PST by xp38 (!)
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To: C19fan

” A Renoir is a physical object not some fad in the virtual ether.”

An owner could mint an NFT representing a painting


34 posted on 11/16/2022 5:12:45 PM PST by TexasGator (!!!)
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To: C19fan

Every time I see acronym NFT, I have to look it up. So, one of something is worth mega bucks?


35 posted on 11/16/2022 5:13:22 PM PST by NetAddicted (Just looking)
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To: Dilbert San Diego

One can sell them for profit if you find a bigger dumbass than oneself.


36 posted on 11/16/2022 5:18:59 PM PST by EEGator
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To: EEGator

Well the tulip bulb bubble was in the 1630s.
So 400 yrs later, we’ve moved it into the realm of digital, LOL.


37 posted on 11/16/2022 5:22:56 PM PST by nascarnation (Let's go Brandon!)
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To: nascarnation

It sure seems like the modern version...


38 posted on 11/16/2022 5:23:59 PM PST by EEGator
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To: BookmanTheJanitor
I wanted one as a kid. My parents thought I would appreciate it more if I caught a wild one and tamed it myself.
39 posted on 11/16/2022 5:32:47 PM PST by KarlInOhio (Soon the January 6 protesters will be held (without trial or bail) longer than Jefferson Davis was.)
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To: oblomov

In the vast majority of cases the purchase of an NFT does not convey ownership of the digital asset, only restricted rights to its use.

In reality an NFT is just a blockchain record containing a link to an object such as digital art, video, music, collectable, or in-game asset.


40 posted on 11/16/2022 5:56:12 PM PST by throwthebumsout
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