Current Events > NFT sales down 92%

(+) Yeah! (+)

https://www.videogameschronicle.com/news/nft-sales-have-declined-92-since-their-peak/

yet the shills still claim this is the future

https://gamefaqs.gamespot.com/a/user_image/5/0/4/AAOGRhAADMto.jpg

https://gamefaqs.gamespot.com/a/user_image/5/1/0/AAVdKdAADMtu.jpg

@AmericanMade

https://youtu.be/k9WoPxUUTME

Sexypwnstar posted...
@AmericanMade

that user's banning had literally everything to do with this. I hope he is proud of his fucking self

https://twitter.com/LilMoonLambo/status/1471414312963125251

I actually think nfts have a future. That doesnt mean it isnt absolutely littered with opportunists and scam artists at the moment or that I personally dont think its dumb. But I also think the high end art market is dumb.

NFTs seem to show some very real value to artists, since they get can get a kickback on any future sellings of their work. I see the value in that.

Guess people don't want to spend 1000 bucks on a drawing of a monkey

HylianFox posted...

Guess people don't want to spend 1000 bucks on a drawing of a monkey

*hyperlink to a drawing of a monkey

mario2000 posted...

*hyperlink to a drawing of a monkey

True, the whole point is you're not buying something with any sort of tangible value

Solid Snake07 posted...

I actually think nfts have a future. That doesnt mean it isnt absolutely littered with opportunists and scam artists at the moment or that I personally dont think its dumb. But I also think the high end art market is dumb.

NFTs seem to show some very real value to artists, since they get can get a kickback on any future sellings of their work. I see the value in that.

mosty artists hate NFTs and they keep having their art stolen

https://gamefaqs.gamespot.com/a/user_image/5/4/5/AASfTXAADMuR.jpg

NFThese nuts.

HylianFox posted...

True, the whole point is you're not buying something with any sort of tangible value

The image itself is essentially the receipt for the link

NFTs are crashing just as bad as BF2042

Just you wait. When the rebound happens, people will be lining up around the block to buy the 342342th copy of this generic weapon in my Ubisoft game.

i can't believe this thing that people were saying are a scam is a scam

Solid Snake07 posted...

I actually think nfts have a future

They definitely have a future. Gacha gaming and stuff like Madden Ultimate Team shows this. They just need to be functional or gamified in some way. Digital artwork is still a hard sell.

But it's not going to look like it did at the start of this

Goldice posted...

They definitely have a future. Gacha gaming and stuff like Madden Ultimate Team shows this. They just need to be functional or gamified in some way. Digital artwork is still a hard sell.

But it's not going to look like it did at the start of this

thing is eveni n those kind of games NFT have nothing of value

they add nothing new

NFT is just a method of proving ownership. We could already prove ownership prior to NFTs. How do NFTs improve on this concept?

Shocked

And the only people who made money are the ones who "made" the NFTs, via the scamming of gullible folks

Goldice posted...

They definitely have a future. Gacha gaming and stuff like Madden Ultimate Team shows this. They just need to be functional or gamified in some way. Digital artwork is still a hard sell.

But it's not going to look like it did at the start of this

Not the future its proponents are selling. You have to have a closed system where no replicas are wanted or possible in order for it to work as some of these clowns are selling it. People just don't care about a unique digital signature if they can just copy what is of actual value to them. They need people to value the discrete signature as meaningful if not more-so than its actual function, and that isn't likely to happen beyond some financial people basically playing games.

The problem is also that where these schemes are possible - usually closed system mobile games - they also are usually non-transferable.

There are a mountain of problems in the way of NFTs being what its proponents want them to be - including advancing technology skills among the populace and basic human nature. TLDR it's a scam

Wow. Excellent numbers. I'm glad to see that most people wised up much sooner than I expected and dropped this stupid nft shit.

bmp

FigureOfSpeech posted...

@AmericanMade

that user's banning had literally everything to do with this. I hope he is proud of his fucking self

Lmao

Doesn't look good for NFT marketplaces and platforms like Gamestop

https://gamefaqs.gamespot.com/a/user_image/0/1/4/AAFOjXAADM1m.jpg

https://www.youtube.com/watch?v=Lm_GPkOfVKI

Is there any particular usage to them beyond all this shit? The whole point of collectables is that they are scarce and irreplaceable. Anything made to resemble them is fake. It has no value if it's discovered. For virtual collectables, you need an ecosystem in which the collectables exist and cannot leave like gacha, so NFTs are unneeded there. There's no system where you can take your PNG waifu out of a gacha and then put her in another game. If you want to enable buying and selling within a limited ecosystem, you don't need NFTs. You can create a wider ecosystem, but that requires wide adoption. With the current reputation, I don't see that taking off.

Solid Snake07 posted...

NFTs seem to show some very real value to artists, since they get can get a kickback on any future sellings of their work. I see the value in that.

They can do that if the contract they sell it under does that, and they don't need NFTs to have a contract that does that.

Goldice posted...

They definitely have a future. Gacha gaming and stuff like Madden Ultimate Team shows this. They just need to be functional or gamified in some way. Digital artwork is still a hard sell.

But it's not going to look like it did at the start of this

You don't need NFTs for that, though. CS:GO and TF2 have been doing essentially the same thing for like a decade. There's no actual competitive advantage to implementing unique and tradeable in-game items as NFTs, nor is there a discrete technological benefit. You've got a hammer and are trying to make everything look like a nail.

Nemu posted...

Is there any particular usage to them beyond all this shit? The whole point of collectables is that they are scarce and irreplaceable. Anything made to resemble them is fake. It has no value if it's discovered. For virtual collectables, you need an ecosystem in which the collectables exist and cannot leave like gacha, so NFTs are unneeded there. There's no system where you can take your PNG waifu out of a gacha and then put her in another game. If you want to enable buying and selling within a limited ecosystem, you don't need NFTs. You can create a wider ecosystem, but that requires wide adoption. With the current reputation, I don't see that taking off.

At its least malicious it's a pyramid scheme designed to enrich the 2% that got in on the ground floor. It's also highly likely a money laundering front for criminals and Russian agents. A lot of NFT transactions stopped as soon as the war on Ukraine happened. That can't be a coincidence.

https://gamefaqs.gamespot.com/a/user_image/0/2/7/AAJBROAADM1z.jpg

NFT douche bros just got fucked! lol

Nemu posted...

Is there any particular usage to them beyond all this shit? The whole point of collectables is that they are scarce and irreplaceable. Anything made to resemble them is fake. It has no value if it's discovered. For virtual collectables, you need an ecosystem in which the collectables exist and cannot leave like gacha, so NFTs are unneeded there. There's no system where you can take your PNG waifu out of a gacha and then put her in another game. If you want to enable buying and selling within a limited ecosystem, you don't need NFTs. You can create a wider ecosystem, but that requires wide adoption. With the current reputation, I don't see that taking off.

So the initial use I heard for them is that you could use NFTs to have (exclusive) access to tickets to concerts, so if you bought a ticket, they'd give you an NFT alongside the ticket and you could use that as proof of being at the concert or to get into VIP areas of the concert.

So it sounded like there was use for them but once people saw you could make baller money, all that utilization went away.

ZevLoveDOOM posted...

NFT douche bros just got fucked! lol

At least they don't have to worry about throwing away all the garbage they actually own. The repo men will do that for free.

wackyteen posted...

So the initial use I heard for them is that you could use NFTs to have (exclusive) access to tickets to concerts, so if you bought a ticket, they'd give you an NFT alongside the ticket and you could use that as proof of being at the concert or to get into VIP areas of the concert.

So it sounded like there was use for them but once people saw you could make baller money, all that utilization went away.

That's what the ticket is for....

This is what I'm talking about. People are trying to solve problems that don't exist with NFTs to justify their existence. What about the nft provides a capability or service that you don't already get with a ticket? Slap an image on the ticket. Bam, now you have both.

Solid Snake07 posted...

I actually think nfts have a future. That doesnt mean it isnt absolutely littered with opportunists and scam artists at the moment or that I personally dont think its dumb. But I also think the high end art market is dumb.

NFTs seem to show some very real value to artists, since they get can get a kickback on any future sellings of their work. I see the value in that.

Watched the legal eagle video on NFTs and it doesnt seem like it is any good for the artist, or the people buying them legally speaking.

s0nicfan posted...

That's what the ticket is for....

This is what I'm talking about. People are trying to solve problems that don't exist with NFTs to justify their existence. What about the nft provides a capability or service that you don't already get with a ticket? Slap an image on the ticket. Bam, now you have both.

There was more to it

Like the NFT would continue to have use, allowing you access to links or VIP stuff.

Not saying it was the most unique use, but it had more use than just proof

wackyteen posted...

There was more to it

Like the NFT would continue to have use, allowing you access to links or VIP stuff.

Not saying it was the most unique use, but it had more use than just proof

Throwing a QR code on the ticket would also give you access to links and the ticket itself would get you into VIP stuff. A literal sales receipt would do the same thing. Hell, an email confirmation of your purchase would also work. Again, what is the nft itself providing that can only be done with nfts and not a million other technologies? Why nfts?

im feeling schadenfreude right now.

The fact that Eddy had this idea two decades ago and couldn't make it work should've clued you in.

https://youtu.be/ewZqfxSfIT0

McMarbles posted...

The fact that Eddy had this idea two decades ago and couldn't make it work should've clued you in.

https://youtu.be/ewZqfxSfIT0

https://gamefaqs.gamespot.com/a/user_image/0/8/7/AAXJAeAADM2v.jpg

Any time I ask a crypto nerd or an NFT idiot what the tech is good for all they say is block chain. And that I should do my own research.

if you cant give a brief explanation in laymans terms what good these things are for actual day to day use then they arent good for anything that the majority of society would need.

crypto I can see the argument that i still do not agree with, but NFTs really doubled down on the gullibility of many people.

wackyteen posted...

So the initial use I heard for them is that you could use NFTs to have (exclusive) access to tickets to concerts, so if you bought a ticket, they'd give you an NFT alongside the ticket and you could use that as proof of being at the concert or to get into VIP areas of the concert.

So it sounded like there was use for them but once people saw you could make baller money, all that utilization went away.

You are confusing NFTs as a whole with what the people who made Bored Ape Yacht Club wanted to do. When they started selling their NFTs they went out of their way to make a big deal about how they wanted to turn ownership of their NFTs into a way of life and so they were going to use ownership of their NFTs as a way to get into things like concerts and events. NFTs as a whole have never had anything to do with acting as a ticket outside of explicit circumstances in the same way that they have never had the action of acting as a video game token: it's something that existed as a gimmick for some NFTs but has nothing to do with NFTs as a whole.

Anyways, NFTs will never be used for something unique outside of their ability to grift. They are utterly meaningless outside of their ability to cause people with the mentality of a child to lose some money. The blockchain technology, however, is actually pretty useful for things like inter/extra-company security. It, however, is unlikely that we will see it relevantly used on that front any time soon as it would require a pretty heavy restructuring of previously existing security measures and the idea of a company spending money on anything that wouldn't make money is a bit suspect in our current landscape.