Crypto financiers with too much money on their hands purchase digital work of art for $69 Million

[JackStraw77]

There is this artist named Beeple who has been creating digital images for the last 13 years. He sold the digital rights to a 5000 image collage for $69 million at a Christie's auction. It was purchased by Crypto financier. It's called an NFT a non-fungible token using blockchain technology. I am starting to believe that Bitcoin is nothing more than musical chairs. When the music stops someone is going to be left holding the bag. Is it Tulip Mania all over again. I don't know, but Tulip bulbs contracts were currency in the 1600's in Holland and we know how that turned out. Some of the digital images are pretty good.


https://www.cnn.com/style/article/b...rk-at-auction-sale-buyer-intl-scli/index.html

https://news.artnet.com/market/beeple-everydays-controversy-nft-or-not-1952124

 

[SmallDaddy]

When these cryptos crash, they just might cause a recession.

Stimmy checks are becoming permanent!!

I am thinking a crash will happen when the Fed pulls back

 

[PatsFan1283]

When these cryptos crash, they just might cause a recession.

Stimmy checks are becoming permanent!!

I am thinking a crash will happen when the Fed pulls back

why would they pullback

 

[JackStraw77]

 

[metro]

I think you are confusing NFTs with bitcoin .. and tulip mania regarding bitcoin ? weak take my man

There is this artist named Beeple who has been creating digital images for the last 13 years. He sold the digital rights to a 5000 image collage for $69 million at a Christie's auction. It was purchased by Crypto financier. It's called an NFT a non-fungible token using blockchain technology. I am starting to believe that Bitcoin is nothing more than musical chairs. When the music stops someone is going to be left holding the bag. Is it Tulip Mania all over again. I don't know, but Tulip bulbs contracts were currency in the 1600's in Holland and we know how that turned out. Some of the digital images are pretty good.


https://www.cnn.com/style/article/b...rk-at-auction-sale-buyer-intl-scli/index.html

https://news.artnet.com/market/beeple-everydays-controversy-nft-or-not-1952124

 

[PatsFan1283]

metro you try to get the topshot packs?

 

[metro]

im not into nba .. I signed u for the UFC NFTs they haven't rolled out yet

 

[JackStraw77]

metro you try to get the topshot packs?

These are not tangible assets like a Mickey Mantle rookie card. You can look at the 52 Mantle Rookie that sold for $5.2 million and see how the edges and border were perfect. Though it's encased you can hold it in your hand. You know that somewhere some kid or maybe his parent purchased the pack of cards that contained that Mantle in 1952 at a candy store. What is a digital photograph. Let's say the Louvre one day decides to no longer display DaVinci's Mona Lisa. They take a a digital photo of it and decide to license it. They are going sell digital photographs of it despite it being in tens of thousands of books over the ages. So people are going to pay thousands for digital copies. The only thing that has any value in my opinion is the original painting. If it were for sale someone might be willing to pay $600 million to $1 billion for it. They know that the genius Leonard DaVinci actually took a brush to hand to it while a lady posed in a window. If you want to pay for a digital copy be my guest.

 

[PatsFan1283]

I agree it is stupid but $ to be made nonetheless so who cares

 

[SmallDaddy]

why would they pullback

I am really trying to figure out when this bubble pops.

They say 'when people put in their last dollar'... so when is that?

It cant be as long as the Fed keeps putting 120 billion in per month.

Although if there are some unintended consequences happen, then they may have to.

If anybody can educate me on this subject, that would be most welcome

 

[metro]

Jack your examples are kind of narrow minded .. there is so much more depth to the nfts than your example , and also much more depth than art , music etc for nfts ..

mark cuban says business applications NFTs is a billion or maybe he said trillion dollar market segment

 

[metro]

Only people who don't have any bitcoin, call it a bubble .. as the saying goes , everyone has the amount of bitcoin that they deserve

I am really trying to figure out when this bubble pops.

They say 'when people put in their last dollar'... so when is that?

It cant be as long as the Fed keeps putting 120 billion in per month.

Although if there are some unintended consequences happen, then they may have to.

If anybody can educate me on this subject, that would be most welcome

 

[metro]

I agree it is stupid but $ to be made nonetheless so who cares

many people are just trying to make a statement about the technology itself when they do this type of outrageous purchase such as the winklevoss twins buying a trip to the moon with bitcoin or whatever it was they bought .. art is art .. this is digital art , no-one is buying this with their stimmys .. ask artists if they like NFTs or not?

digital collectibles also absolutely have a place to supplement your tangible collectibles .. NFTs are brilliant and not going away .. programming a digital asset into
a cryptocurrency token ? brilliant .. is a 1905 penny worth the spot price of the 1 cent ? having a crypto token that you can program assets into and authenticated on the blockchain is as much of the future as public and private blockchains are .. I might be wrong but I believe, and im trying to find the examples, that I have read about NFTs
that represent the physical item as well.

 

[metro]

Thanks to you Pat I discovered the flow blockchain .. really mad at myself that it was 8.00 in jan 28 and is 30.00 now that I didn't discover it sooner ..

ive been watching super farm the entire time since it was polkadots only app that made has made it Coinbase launchpad .. that checks boxes its 3.00 today up from 1.26 about a week or so ago .. but I like flow so much better hate that I missed that one .. I really had assumed that all nft platforms were being built on either eth, dot, ada or Eos blockchains

 

[raiders72]

Cryptos and NFTs is where it's out. Have to change with the times. OMI and ERN.

 

[JackStraw77]

Jack your examples are kind of narrow minded .. there is so much more depth to the nfts than your example , and also much more depth than art , music etc for nfts ..

mark cuban says business applications NFTs is a billion or maybe he said trillion dollar market segment

I fully understand if an NFT is used for business. I also understand if a popular musical artist like someone like Taylor Swift were to create an album and issued it as digital asset to 10 people. If tens of millions of fans wanted to listen to the music and I could sell it to a limited number of people. But what I don't understand is if an artist like Beeple who has already released his daily creations so I could view them and then someone buys all 5000 images for $69 million. Where is exclusivity.

 

[Mr_Mark]

money laundering?

 

[JackStraw77]

Anyone who has had their 15 minutes of fame through a viral video is now going to try to profit from it. DoggFace of the Cranberry Juice Skateboard video featuring the song "Dreams" is going to attempt to sell his video as an NFT for $500,000. You know what is funny about that video. It's a fake. Watch the video below and you will see it was stunt in front of a green screen. It was done using a Chroma Key.


Stevie Nicks banned the use of her song "Dreams" so DoggFace is still going through with auction anyway of just the video without the music. Opening bid of $500,000. So once again I pose the question if this video is still on TiKTok why on earth would anybody buy just because it has DoggFace's electronic signature. Is this really going to go up in value. I might as well take a picture of my toilet bowl after taking a dump and making it an NFT. All I have to do is create buzz about my dump on social media. In ten years it might triple in value.

https://www.businessinsider.com/nft-fleetwood-mac-dreams-skateboarding-tiktok-auction-500000-2021-3

 

[SmallDaddy]

It doesnt need to make sense to you, just accept that it makes sense (for some reason) to many others

 

[SmallDaddy]

New NFT on the block?

Virtual real estate!!!

Lol not making this up!!