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All Those NFTs Are Officially Worthless
A new study suggests a huge number of NFT collections are now worth $0
https://kotaku.com/nft-meaning-scam-crypto-marketplace-price-bored-ape-1850860661
@voltronic Plot twist: they always were! It was literally the Emperor's New Clothes. Selling people nothing for exorbitant amounts.
@voltronic @sentientdessert
Like people buying Beanie Babies expecting them to appreciate, except they were never inexpensive to begin with.
@EileenKCarpenter @voltronic @sentientdessert
The original NFT...
Or was it Cabbage Patch Dolls?
Then Teddy Ruxpin...
Furby...
Sigh...
@FireMonkey @InvaderGzim @EileenKCarpenter @voltronic Beanie Babies I think is the only appropriate here. None of the others were touted as "an investment." They were fads, certainly, same with the hula hoop. But Beanie Babies were sold by some as an actual retirement plan.
@sentientdessert @FireMonkey @EileenKCarpenter @voltronic
True... I agree only beanie babies were considered assets...
But.... I'm thinking that the idiocy that was started by all of those things is part of the reason that people are idiots about these schemes.
TAKE MY MONEY! B😊
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@InvaderGzim @sentientdessert @FireMonkey @voltronic
Before Beanie Babies, it was all the tchotchkes from the Franklin Mint. The woman in the apartment across from me in the early 80s was a hoarder, and the floor of her apartment was stacked full of commemorative plates that were supposed to become collectors' items. Most aren't worth what she paid for them, now.