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I never understood the business model of NFTs. The value was so easily diluted through duplication and fraud, that I still can't wrap my head around how people
by Simulacra 3y ago
I never understood the business model of NFTs. The value was so easily diluted through duplication and fraud, that I still can't wrap my head around how people actually spent money on this.
- GenerocUsername 3y agoIt was never about the monkeys... though 99% of the users don't understand that. A picture of a monkey is reproducible. Owning an entry on the block chain that maps to a rare monkey via a procedural art algorithm is not so easy but also not impressive. Few users understood the distinction, with both ends of the bellcurve knowing it's stupid
- DANmode 3y agoFor a few, there was a fleeting moment of hope there would be a monkey club that the NFT would act as a token into, or for. For some, it was a speculative investment, based on the future value of that access token. For many more, it was a speculative investment based on popularity/"line go up"/shiny new thing.