This sort of crap really pisses me off...
A $300,000 Dolce & Gabbana Tiara You Can Only Wear in the Metaverse
Dolce & Gabbana, Gucci, Burberry and other luxury-goods companies see promise in digital markets where—just as in real life—rarity and exclusivity can translate into high prices
LONDON—Digital sharks wearing Burberry. A virtual Gucci purse that cost more than its real-life equivalent. A one-of-a-kind electronic Dolce & Gabbana tiara that fetched over $300,000 at auction.
The world’s biggest luxury brands have been dipping their toes into the world of digital fashion, and the early evidence suggests there are eager buyers willing to pay premium prices for virtual products.
Here's a very good explanation of NFTs (a little long but worth it) with examples of how ridiculous they are...
What Is An NFT? Non-Fungible Tokens Explained
Non-fungible tokens (NFTs) seem to have exploded out of the ether this year. From art and music to tacos and toilet paper, these digital assets are selling like 17th-century exotic Dutch tulips—some for millions of dollars.
But are NFTs worth the money—or the hype? Some experts say they’re a bubble poised to pop, like the dotcom craze or Beanie Babies. Others believe NFTs are here to stay, and that they will change investing forever.
(This is a perfect meme that I ran across.)
Here's some very good news about NFTs from Infidel753...
These people are joking, right? It's a joke??
ReplyDeletePat - No, it's not a joke.
ReplyDeleteIsn't it amazing what people with too much time, too much money, and too little thinking power will spend money and time doing rather than using their gifts for the good of others.
ReplyDeletetaurus - They're only thinking of making themselves more wealthy.
ReplyDeleteNever been a person to express an opinion on how people should or shouldn't spend their money, but this goes beyond frivolous and idiotic. Seems to me the newest 21st century religion---gullible people buying into something that isn't real, is only visible in pictures representing what the seller wants them to see, provides them with a false sense of superiority for believing in this thing, will never be of any benefit to them, will cost them a fortune(tithing) over the long haul, and in the end they will die like the rest of us without ever seeing this financial ?savior? Glory, glory hole-allujah to recall the picture in another post today. Now that is something on which I would spend money, and everyone goes home satisfied :-D
ReplyDeleteI don't understand any of it... I think its a load of crap. I will be very surprised if it isn't anything more than a fad like pet rocks.
ReplyDeleteMilleson - It's a very interesting and disgusting development of money making money. At least you found something to spend your money on.
ReplyDeletePut the digital-luxury-brand peddlers in touch with the NFT buyers. The ultimate scammers and the ultimate easy marks -- it's a match made in Heaven.
ReplyDeleteSeriously, the NFT fad is already dying, thank goodness.
Infidel753 - Thank you for that information! I want to add that meme to this post.
ReplyDeleteRad - Greed. That's what's wrong with people.
ReplyDeleteI can frown at the news of super-rich people spending their money on mega-yacht they'll use but a couple of weeks a year or on building mansions with dozens of bathrooms and kitchens to host their peers twice a year to please their own insane vanity. But at least in doing so they provide jobs to dozens and more of hard workers.
ReplyDeleteBut the absolute idiocy they show by falling for these - like Rad said - scams and Ponzi schemes that are NFTs... This only goes to show, once more, how debilitated many wealthy people can be, and how rotten our system is.
But I guess this NFT thing is just the logical and modern extension of what the Art market became several decades ago. Free ports are loaded with actual pieces of art that were bought for the sole purpose of money investment when Museums around the world exhibit so many forged "masterpieces" - which they won't recognize as being so, of course. Disgusting.
P.S.: thank you for relaying that last meme from Infidel753: I thought NFTs would become a stupid bubble at some point and it seems so already :-)
Laurent - Let's hope all the selfish "investors" lose their shirts.
ReplyDelete