What are NFTs?

No its literally worthless

I'll answer it with a question and you can take it from there:
Which side of the scam do you want to be on?

Yes. You pay real money for minting your NFT.
Then it will probably be stolen or the site will "rug" you (cryptospeak for "take the money and disappear")

So why are peopling doing this shit?
I just read an article about that worthless POS Logan Paul making :art: and selling for $20K each
I must be too dumb to understand the scam other than what you guys have pointed out
Stealing my money via my online wallet and such or charging fees to print the NFT or whatnot
So are there honest people that have made digital art in these sites and made money?

A waste of time and money. Imagine forking over a shitload of money for the Mona Lisa, but anyone can instantly make identical copies of it with the click of a button. Sure, you have the "real" one and commercial rights to it, but at the end of the day, if you can't monetize those commercial rights, you have a picture that anyone can save a copy of, and you paid for it.

I get this aspect
So it's just a scam to get the nest guy to buy the same 1-of-1 Mona Lisa for more omney until the whole thing falls apart?

Its a ledger of transactions linked to a file location.
Basically a digital receipt on the blockchain, that's it.
It's mainly used to sell shitty algorithm generated jpegs to morons.

>So are there honest people that have made digital art in these sites and made money?
You already know you'll get fucked if you try...
youtube.com/watch?v=HtxbIkfDDO4

Basically. The value only exists because retards think it'll be worth a million dollars some day.

Search for retarded ape pictures, screenshot them and sell them on eBay

Then go to jail and get fucked by real apes
No
No thanks

It's mainly just a speculative market full of people that are trying to use their influence to flip pictures for a quick profit.
I'm sure there are a few art collectives that are using NFTs to sell real art, but 99% of NFTs are made by get rich quick scammers.

Basically if you dont have 1 million followers on social media, you wont be making any money from this grift.

KEK jail?
Please cite one court case of someone copying an NFT and getting jail time.

>can't bespent without paying a fee
>What are taxes?

Now I'm getting the bullshit
Selling merch, like those stupid Funko Pops which do nothing, but with digital "art"
Makes more sense
Thanks

I meant Ebay coming after me for copying ape art

Found the retard who lost money on them

How does ebay know what you copied? Do they hold the monopoly on ape art?

It's a token attached to some image or thing like a pokemon. You own it on the Blockchain and can sell it.the whole Blockchain thing piggebacks off cryptos proof of ownership. So people can't create fake currency/ nfts ownership means the ability to sell whenever you want or keep it. Think baseball cards and original art pieces. value is based on the collective of a group. So art by someone could be worth nothing or something. The whole ugly art randomizer ape pictures was made by a group and it's really just artificial hype that took hold. Those are more of a list of goals but it not a fully though out blueprint for those kind of projects. Why stories of failed or less hype projects just sell off and close shop. It's cart before the horse kind of projects. Like you could sell a lot of things as Nfts. Some want high returns others are buying art from digital creators others because they like the artist. Some are parts for games with characters and stats . It can be different things. Bottom line if you own a nft you own it. The worth is all speculative. If an artist who made nfts died, then those will probably blow the fuck up in worth.

Ebay allows people to sell pictures of products instead of actual products.
They arent litigious or even do basic policing of shit they sell on that site.

Just don't want to get fucked in prison by your nigger brothers

Yeah, good luck getting any police department or DA to even give you the time of day when you tell them someone right clicked and saved a picture of a cartoon monkey and they're not supposed to do that.

Well
I can't take pictures of ASMR Darling off her videos and sell them, right?
Ebay would come after me and she'd probably sue me for violation of her likeness
Hummmm
Maybe it's worth getting sued to meet her in a courtroom setting
Let me work this one out

Easily ignored if you pay in cash and don't shop at some faggoty store.

Even lower effort.
It's mainly influences siphoning money from idiotic fans who think their NFTs will be worth something in the future.
It's a massive bubble that has already started to deflate.
Don't put any money into that scam.

But I want people to buy my drawings of LeBron in diapers as a Loli

You don't buy anything other than a digital token.
You may sell it later, if anyone else wants it.
It's pure speculation.

Stop projecting your fantasies on me faggot

>You're kids a retard.
Yeah I dropped out of elementary school, how did you know?

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SO I buy the digital token and then put it somewhere in a portfolio so that people can buy it for more money, right?

Ebay wouldn't do shit. Ebay doesn't give a shit about copyright, thats up to the copyright holder to create a cease and desist/civil suit.

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Yeah
Like how do I show people the shit I "own" for them to buy
How does that work?
Use OpenSea as I have it open right now

Yep. Except you have no concept from whom you're buying, who's buying from you and where to turn to if something goes wrong.

Only, taxes are used to pay for services like roads or (if you are not a Burger) welfare. You know, useful stuff.
And since crypto fees are not fixed (unlike taxes) you can't know how much you will pay beforehand

Don’t listen to the retards on here who have no idea what they are talking about. Also don’t just buy anything without proper research and hope to get rich.
Lots of very good NFT projects out there - but much more are shit so you can easily get burned.
The minority of projects which are high quality give you access, benefits, rewards, etc for owning their NFT.
Take your time and research - NFTs aren’t going anywhere so there’s no need to hurry into anything.

>t.

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Unless you cash out to real paper fiat money
Then big bubba Biden come for you

Blockchain is an open ledger, meaning all transactions are open for anyone to see.
If you are using Opensea than any NFTs you own will be publicly viewable, and you have to put them up for auction if you want to sell.

>own shitpost
>post pic of yourself
Accurate depiction of yourself

>and you have to put them up for auction if you want to sell.
This
How does this work?
Only on OpenSea or other sites with NFT?
Can I sell these tokens on other sites if I don't like OpenSea later?

found the moron that bought into the NFT bubble.
any "benefits" of the jpegs you bought won't ever make up for the money you lost.

>>worth nothing
>>will be stolen by scammers

pick one

>taxes are used to pay for services
>like paying a company to process a large and time/resource consuming transaction....
>oh wait....

LMAO, enjoy your 10000 dollar jpeg cause nobody will buy it from you.

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Opensea is the biggest and most used website, but there are plenty of other sites.
You can also exchange them privately with your own wallet to a private buyer.
But honestly, its just a massive speculative bubble, and you are too late to the party to make any serious money at this point.

Unless I'm Shattner and sell shit

Nope, both is possible. You just need a pool of idiots willing to pay for something worthless.

>no u

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You only 'lose' money if you pay to mint on eth & don't sell, because the way the chain works, it costs fees to do things. Don't mint on ETH unless you're a big artist that already has a strong digital following.

U can mint on Tezos, Wax, Polygon & others for pennies, and people can buy them with little-to-zero fees. That means you can list cheaper, and instead of it being $PRICE+$150 in fees, it's just $PRICE.

Still, unless you're a reasonably good artist or have / build an online community, you'll need to do some research and get traction / fans up who want to buy your work.

Kek. I’ve made thousands of £ thanks mate and managed my investments so I have Nike merchandise access and lots of other benefits in perpetuity. It’s like investing in startups - find great teams that can build valuable brands.

But you do you and enjoy staying naive and poor if you want. You’ll be using NFT technology very soon whether you like/realise it or not.

He's right. The NFT and crypto market are 100% unregulated.
It's a libertarian paradise, so
- it's incredibly unefficient
- everybody is a scammer
- nothing works
- the only people getting any money are those already rich
- you WILL lose money

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if someone is willing to pay for something, it's no longer worthless

how are people this dumb

>You’ll be using NFT technology very soon whether you like/realise it or not.
the delusion is real
companies have been running away from NFTs due to huge backlash from the public.

Yes, opensea is essentially just reading the blockchain and representing it on their site, with tools to make blockchain contract interaction more user-friendly. there are other sites like looksrare etc

but like other dude said unless you know what you're doing you're 99% going to lose money. even if you do know lol

>I pay taxes to the government. I get back police services, road maneinance, water and a working nation
>I pay gas fees to a crypto scammer. I get back...?
One of the things is not like the other

>if someone is willing to pay for something, it's no longer worthless
It still can be worthless if you're selling an unverifiable - and often impossible - promise of future profits instead of goods or services.

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speculation doesn't equal intrinsic value.
something can be intrinsically worthless while still being bought by some speculative idiot.

its amazing how mad people get about capitalist systems that mildly benefit them more replacing capitalist systems that don't benefit them at all

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NFT do not benefit anyone besides the people that put in money before the bubble reached it's peak.

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not having intrinsic value ≠ worthless.

really fucking risky and most likely dumb to buy sure

if that's your concern, then don't buy, or buy an nft with some 'intrinsic value'. i.e. splinterlands or functioning game shit

They really aren’t.
The entire FS sector is looking at NFT tech to simplify business processes.
The Consumer sector are all exploring NFT tech and utilising it to engage communities.
Gaming and art are all moving into NFTs.
The education and legal sectors are all going to be using NFTs to authenticate documentation.
This is web3. Get used to it.

NFT as tech could be useful. It's the jpegs of apes and pixelated fags that's garbage just to launder money. All that shit will disappear when whales are tired of playing games or market gets regulated.

It's the classic "bigger fool" scam. Someone scammed you into buying something absolutely worthless, and you can't make your money back unless you find a bigger fool. Basically, if you are not already a web influencer with 1 million of gullible, preferably ANCAP fans, you WILL lose everything.

This is unironically the answer this faggot set himself up for.

Of course I'm not putting any money into "owning" a publicly accessible jpeg.
OP is asking for advice or explanation of NFT, I'm just here to point out the inherent lack of value they have.

dumbass pfps and speculative bullshit / scams / vaporware sure

doesn't mean lots of artists and devs aren't making decent money and residuals off digital art + games that otherwise would have struggled to make the same amount through traditional digital art platforms or integrate into broader marketplaces

So I need to sell something to the Mega influencers, right?

>Kek. I’ve made thousands of £ thanks mate

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Niggas pay for something that says they own a jpg. Great if you want to get money from retards for an image file.

I do appreciate it
Thanks

people seem to forget you can make NFTs yourself on L2s or POS chains for fractions of pennies

>Gaming and art are all moving into NFTs.
forbes.com/sites/paultassi/2022/02/02/ea-appears-to-have-been-scared-straight-about-nfts-for-now/?sh=268374ca1ca1
pcgamer.com/steam-bans-nfts-cryptocurrencies-blockchain/
eurogamer.net/game-developers-arent-interested-in-nfts-and-cryptocurrency