Quote from: salsa321 on March 14, 2023, 06:31:13 PM

Quote from: digaran on March 13, 2023, 08:33:31 PM

And people pay for these apes? I guess ordinary apes were not enough, that's why they have mutated.
In the past years people used to offer ICO's with the promise of good ROI, but NFT's somehow found a way to sell the same amount of effort and call it art.

One has to wonder, what was wrong with ETH, wasn't it enough? I think it did serve the purpose of supporting such markets, but for some twisted reason some people had to bring this market in to bitcoin. From the outside it looks as if someone is trying to sell bubble gums in wall street, that's how ridiculous this all is.

NFT's are a leveraged position. Bitcoin NFT's, or inscriptions, are a far more fungible approach to digital artwork maintained in the value of Bitcoin itself. I say it's a step forward, especially with the fact that Bitcoin has many use cases that expand beyond a digital payment system.

Let's be very careful about calling this artwork though.

First off, NFTs have nothing at all to do with images, that was just the lowest hanging fruit for the technology because its visual. Unfortunately the idea of NFTs as images seems to have taken over the collective crypto consciousness so I'm starting to wonder if we'll ever actually see good uses for NFTs or if the market is just gonna get stuck in this "NFTs are images" rut.

Secondly, this ain't artwork. The vast majority of NFTs are just computer generated collections of similar (usually) crappily made images that are sold as a cash grab. There's no 'art' in the work. The work of actual artists selling art is a tiny tiny part of the NFT marketplace. 99% of NFTs are stupid image cash grabs for people who are still buying into this fad.