The collectibles market is already one I avoid, as the greater fool theory runs the show.
A digital collectible just felt like a straight-up scam from day one. Eventually everyone else was able to take a step back from their FOMO and see it as well.
They really need to start making laws and putting people in jail for all these virtual rug pulls.
No, definitely didn't touch any of it. Once I found out that all you got was actually a URL to a CDN that is not guaranteed to be serving that data forever, I knew it was a house of cards, a complete facade. If the "digital asset" you were "purchasing" had all of its bits and bytes living in the global public ledger, I might give it a bit more attention or support. But definitely not the way it was set up.
I bought a whole bunch of dogecoins in the past, back when it was actually a memecoin. Meme tech communities were awesome. I got tired of crypto at one point and turned most of it to cash, and the rest to DOGE.
Then it actually went up and the whole memecoin space was taken over by grifters.
There's a delay to these things; the value of these communities went up because of the community and it collapsed because the community was taken over as well.
From the outside, looking at all these graphs, it's hard to link them.
Bored Ape was about some celebrities just having fun with technology. It was funny and the music videos were fun.
The collectibles market is already one I avoid, as the greater fool theory runs the show.
A digital collectible just felt like a straight-up scam from day one. Eventually everyone else was able to take a step back from their FOMO and see it as well.
They really need to start making laws and putting people in jail for all these virtual rug pulls.
No, definitely didn't touch any of it. Once I found out that all you got was actually a URL to a CDN that is not guaranteed to be serving that data forever, I knew it was a house of cards, a complete facade. If the "digital asset" you were "purchasing" had all of its bits and bytes living in the global public ledger, I might give it a bit more attention or support. But definitely not the way it was set up.
I bought a whole bunch of dogecoins in the past, back when it was actually a memecoin. Meme tech communities were awesome. I got tired of crypto at one point and turned most of it to cash, and the rest to DOGE.
Then it actually went up and the whole memecoin space was taken over by grifters.
There's a delay to these things; the value of these communities went up because of the community and it collapsed because the community was taken over as well.
From the outside, looking at all these graphs, it's hard to link them.
Bored Ape was about some celebrities just having fun with technology. It was funny and the music videos were fun.
the value of these communities went up because of the community and it collapsed because the community was taken over as well.
See also: CB radio, Usenet, the World Wide Web.
Relevant research topic for those unfamiliar with Usenet's story:
Eternal September
NFT's were always a ponzi scheme. [1][2]
[1] - https://www.youtube.com/watch?v=d_o3nZHzCwA
[2] - https://www.youtube.com/watch?v=ZpqreZlmHGU