Comment on X removes support for NFT profile pictures

TimeSquirrel@kbin.social ⁨1⁩ ⁨year⁩ ago

• Bonehead@kbin.social ⁨1⁩ ⁨year⁩ ago

  To be fair, Tamagotchi provided more value than NFTs ever could.

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  • MysticKetchup@lemmy.world ⁨1⁩ ⁨year⁩ ago

    And Tamagotchis weren’t ugly as sin either!

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• stackPeek@lemmy.world ⁨1⁩ ⁨year⁩ ago

  [deleted]

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  • kate@lemmy.uhhoh.com ⁨1⁩ ⁨year⁩ ago

    IIRC the monkey jpegs themselves were stored on ipfs, while open sea the marketplace was hosted on centralised services

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• SeedyOne@lemm.ee ⁨1⁩ ⁨year⁩ ago

  And yet crypto is back up again for some dumb reason. Are we sure NFTs are truly dead or are we going to see that grift in a new form soon?

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  • TimeSquirrel@kbin.social ⁨1⁩ ⁨year⁩ ago

    NFT as ape pics are dead, yes. But crypto as a form of value exchange for transactions where you don't want too many eyes looking at it has not stopped since its invention in 2008. It's just going to become a normal staple of the internet, like Bittorrent and VPNs, just existing and being used without anybody really caring too much about the technology itself.

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  • joshhsoj1902@lemmy.ca ⁨1⁩ ⁨year⁩ ago

    Keep in mind that buying photos isn’t the only application of NFTs. People stopped buying valueless photos, but other implementations of NFTs kept on being used.

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    • squiblet@kbin.social ⁨1⁩ ⁨year⁩ ago

      Right… the technology conceivably has value as a way to digitally trade ownership and track authenticity. It just happens that it was used for a bunch of truly worthless algorithmically generated art that people got suckered into by hype.

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  • ililiililiililiilili@lemm.ee ⁨1⁩ ⁨year⁩ ago

    NFTs came about due to collectable communities trying to capitalize off cryptocurrency (think baseball cards, shoes, Funko Pops, etc). NFTs were doomed from their inception because they attempt to give limitless data artificial scarcity.

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  • caoimhinr@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Crypto is up because the SEC greenlit crypto ETFs being traded on the stock market.

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  • s_s@lemmy.one ⁨1⁩ ⁨year⁩ ago

    That dumb reason is Tether printing new phoney-bucks.

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• porksoda@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Same. I’m getting to the age where I say “I don’t get it” when it comes to a lot of popular things these days. I said it loudly about NFTs, glad to see I didn’t misunderstand it.

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  • Fisk400@feddit.nu ⁨1⁩ ⁨year⁩ ago

    Someone mentioned in a video about crypto that the boom in nfts coincided with new tax rules for art that made it harder for millionaires to store/hide their money in it and avoid tax.

    That’s when it all clicked for me.

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  • beebarfbadger@lemmy.world ⁨1⁩ ⁨year⁩ ago

    What’s not to get? You convince the more gullible to put money into it, when enough people have fallen for it, you grab and run. Really nothing new.

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