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NomNom@feddit.uk to Technology@lemmy.worldEnglish · 10 hours ago

From millions of dollars to under a grand: The dramatic fall of the NFT

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From millions of dollars to under a grand: The dramatic fall of the NFT

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NomNom@feddit.uk to Technology@lemmy.worldEnglish · 10 hours ago
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The market for the digital items plummeted after their glory days in 2021 and 2022, and they’ve proven to be not only an artistic and aesthetic disaster, but a shortcut to financial ruin
  • ozoned@piefed.social
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    9 hours ago

    What? You mean digital art that infinitely reproducible, can’t actually be owned, WASN’T the next big thing? Oh jeez. I hope the metaverse succeeds and if not then AI surely will RIGHT?!?!

    • WhatAmLemmy@lemmy.world
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      8 hours ago

      Hey but this cryptographic key says that I own it because I paid made up currency units for it or something

      • ozoned@piefed.social
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        8 hours ago

        Hey but that made up currency I worked for by burning electricity, I mean MINING it.

        • jcorvera@quokk.au
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          6 hours ago

          Hey, but the recent changes means I earned that made up currency by proving I own more than you!

          • ozoned@piefed.social
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            6 hours ago

            OH! It’s an epeen thing! Got you! All the rich win. Congrats to them.

    • criss_cross@lemmy.world
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      6 hours ago

      My favorite thing is there are certain NFTs that are viruses that as soon as you do ANYTHING with them, they go and transfer all of the contents of your wallet to another wallet. Even deleting them triggers this action. So if you have unknown NFTs in your wallet you can’t touch them lest they trigger this virus.

      How could this not be the future of commerce?

      • ozoned@piefed.social
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        6 hours ago

        WHAT?!? I’ve never heard of that! That’s nefarious! WOW!

        • criss_cross@lemmy.world
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          5 hours ago

          I got it from a Folding Ideas video (the problem with nfts one)

          But here’s a link actually detailing it https://www.gate.com/learn/articles/beware-of-unexpected-nfts-and-assets-in-your-wallet-they-could-steal-all-your-funds/7682

          Edit: for those that haven’t seen the video it’s worth the 2 hour watch https://www.youtube.com/watch?v=YQ_xWvX1n9g

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