3 ms·

This is a great explanation. I know people who "bought"/"named" stars. Never understood it. And NFTs are this. You don't own the thing you think you do.

chrisseaton 5y ago
> Never understood it. It’s clearly just a joke gift. I’m sure nobody is actually confused that they’ve really bought some legal right. It’s like criticising a ‘kiss me quick’ t-shirt by asking if people realise the t-shirt actually has no legal power to compete people to kiss you. They already know. It’s a joke. Same with NFTs. It’s clearly a bit of a game and joke - I don’t think anyone is actually being scammed by it. I feel like people are working so hard to not see the joke.
- smcl 5y ago
  If NFTs are just a joke, then there's a surprisingly large number of people who are playing along. Like, far more than I could believe could actually keep a joke like this going with a straight face.
- gjulianm 5y ago
  From what I've been reading in quite a lot of comments, people are indeed confused that an NFT is or can be some kind of legal ownership title. If people thought it was a joke, you wouldn't see so many people thinking that it's going to revolutionize X (whatever X is, apparently everything can be disrupted with NFTs).
- abcd_f 5y ago
  Wait till you hear about companies selling plots of the Moon surface and people buying them with a straight face as a high-risk investment.
- meheleventyone 5y ago
  > Same with NFTs. It’s clearly a bit of a game and joke - I don’t think anyone is actually being scammed by it. Except people are getting scammed out of large amounts of money. For example the Evolved Ape scam that broke last week. Or artists that have their work minted and sold without permission. People pumping the value of their assets through wash trading. And so on.
jbverschoor 5y ago
Wrong. I can sell you stars on paper too. Exactly the same. It all depends on the underlying agreements.
Jensson 5y ago
The main difference between NFT's and stars is that people think they will get rich reselling NFT's but nobody thought they could buy a star and then sell it for more money.

chrisseaton 5y ago

> Never understood it. It’s clearly just a joke gift. I’m sure nobody is actually confused that they’ve really bought some legal right. It’s like criticising a ‘kiss me quick’ t-shirt by asking if people realise the t-shirt actually has no legal power to compete people to kiss you. They already know. It’s a joke. Same with NFTs. It’s clearly a bit of a game and joke - I don’t think anyone is actually being scammed by it. I feel like people are working so hard to not see the joke.

smcl 5y ago
If NFTs are just a joke, then there's a surprisingly large number of people who are playing along. Like, far more than I could believe could actually keep a joke like this going with a straight face.
gjulianm 5y ago
From what I've been reading in quite a lot of comments, people are indeed confused that an NFT is or can be some kind of legal ownership title. If people thought it was a joke, you wouldn't see so many people thinking that it's going to revolutionize X (whatever X is, apparently everything can be disrupted with NFTs).
abcd_f 5y ago
Wait till you hear about companies selling plots of the Moon surface and people buying them with a straight face as a high-risk investment.
meheleventyone 5y ago
> Same with NFTs. It’s clearly a bit of a game and joke - I don’t think anyone is actually being scammed by it. Except people are getting scammed out of large amounts of money. For example the Evolved Ape scam that broke last week. Or artists that have their work minted and sold without permission. People pumping the value of their assets through wash trading. And so on.

jbverschoor 5y ago

Wrong. I can sell you stars on paper too. Exactly the same. It all depends on the underlying agreements.

Jensson 5y ago

The main difference between NFT's and stars is that people think they will get rich reselling NFT's but nobody thought they could buy a star and then sell it for more money.