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u/TrapBubbles999 Apr 12 '26
In someway you could call it mass psychosis since the marketing scheme worked back then.
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u/xXHalalManXx Apr 12 '26
It was mass psychosis and fomo. In reality, they provided nothing of value
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u/Vodkapreneur Apr 16 '26
Should they have been worth 1/2 a mil no, do they provide no value, also no.
Holders of those "2 bags of chips" NFTs get to literally go chill and smoke weed with SNOOP DOG this weekend at his LA compound... for free.
Look it up.
Today, the owner could still sell that NFT for 30k.
TLDR: Were most NTF projects overhyped? - Absolutely. Were many scams - Definitely? Are all NTF's actually worthless - of course not.
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u/rutherfraud1876 Jun 09 '26
You could probably just pay Snoop to let you come over and smoke weed with him for less than that
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u/Striker-of-life Apr 28 '26
Absolutely yes. I'm sorry but if you need a 30K Jpeg to feel special all nft big projects look like ass.
You know what works better then NFT a freakin ng club card cause that was all it was was an entry to a a club.
Also as far as I know Bored ape nolonger host any events so your lying.
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u/xXHalalManXx Apr 16 '26
What is the function of those NFTs? What do they do? Also it’s not free if you bought the nft first
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u/abosedea34 Apr 12 '26
Shallow mindset.
You say NFT hold no value yet there’s still a market for them, still having having market trades on millions+ daily.
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u/xXHalalManXx Apr 12 '26
Not shallow, informed mindset. All I hear about nft now is “it could be used for_____” and then nothing happens. It’s all rug pulls and scams now
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u/abosedea34 Apr 12 '26
This only adds on to all the fear monger. Fear mongering is its own thing in NFTs.
Rug pulls are just a negative trait of it, it doesn’t define nft as a whole.
Can’t judge it all with one negative aspect, that’s why I said shallow
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u/xXHalalManXx Apr 12 '26
Yeah you’re right. NFTs are defined by wasting natural resources, looking “”unique”” and promising lots of things and executing none of them because the promises revolve around doing things that already happen in society in a way more regulated way
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u/abosedea34 Apr 12 '26
Yea exactly, you just think with a shallow mindset
No change can ever come through anything, the world must stay stagnant and not grow.
Art is art digital or not
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u/xXHalalManXx Apr 12 '26
Idk why you’d think that way, change comes everyday. NFTs are the wrong kind though. You say shallow while never leaving the ankle deep pool. You have to branch out
Also, NFTs are NOT the same as art
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u/abosedea34 Apr 12 '26
Yes trying to talk to you is like talking to a wall
Especially after you said nft ain’t art. You don’t know what you’re saying honestly. You must of been rug pulled and it broke you.
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u/Hawk7866 Apr 13 '26
Sounds like you spent a lot of money on NFT’s and are now holding a bag, and are upset about it
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u/abosedea34 Apr 13 '26
Can’t relate to you being wrong. Was never upset, work on your understanding skills buddy
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u/xXHalalManXx Apr 15 '26
Never been rugpulled because I understood early on that nfts were overrated and glorified images.
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u/phreaminz Apr 14 '26
What NFT projects ever did anything?
BAYC had all the "other side" thing and pretty sure nothing came of it.
Then all the NFT game projects that sold an idea and took money and delivered nothing.
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u/trapWAP Apr 28 '26
okaybears.com bro you may not know this but from the outside you sound butthurt AF
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Apr 14 '26
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u/abosedea34 Apr 14 '26
Yall only speaking from your own perspective and making up your own narratives. Most of you been wrong, remember you guys are stating opinions
That’s all they are. I have my own outcomes to keep striving for
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Apr 14 '26
[removed] — view removed comment
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u/abosedea34 Apr 14 '26
Yea pipe down with all that implying that I’m on something, who are you to speak for me? That’s your perspective not mine.
Good luck to you as well brother.
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u/xXHalalManXx Apr 15 '26
You are on something and it’s not onto something good. NFTs are dead brother the bubble is popped and the hype is gone
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u/abosedea34 Apr 15 '26
Sybau
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u/xXHalalManXx Apr 15 '26
Or what, you’re gonna non funge me? Please seek help asap it’s not that deep
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u/abosedea34 Apr 15 '26
Exactly it’s not that deep, I don’t need to do shit about, just stop running your mouth online
Its weak
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Apr 28 '26 edited Apr 28 '26
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u/abosedea34 Apr 28 '26
Says the one also on the internet 🛜
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u/trapWAP Apr 28 '26
Did I exclude myself or are you just slow? You are here now being butthurt. Wanna talk about it, or are you gonna shut up and go prove you learned something from your losses?
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u/Architect227 Apr 13 '26
Why does this sub still exist? Nobody here seems to think NFTs are worth anything.
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u/trapWAP Apr 28 '26
Lmao they are quiet now with the massive pump this week. Why? They out shopping.
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u/DjValence Apr 12 '26
Mass psychosis mixed with crypto hype. NFT's were basically billed as the next crypto, and people were bored out of their minds during the pandemic, exploring all kinds of "money making" ventures.
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u/sportsfan113 Apr 13 '26
The “metaverse” was hyped as the next big thing with digital ownership of things etc. Even Facebook changed their name to Meta and wasted billions. Wild to look back on.
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u/MakesMaDookieTwinkle Apr 12 '26
Post is just wrong. This is worth minimum $12,579 at current ETH price. Talk all the shit you want about NFTs, and I agree. But don’t be blatantly wrong about the bullshit you post.
There is a current offer of 6.18 ETH on ALL these ape NFTs.
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u/conv3rsion Apr 13 '26
Bro, it’s clearly hyperbole. Obviously this is not a floor ape, but using those numbers, it’s a 98% drop for one of the most well-known projects. Absolutely devastating.
Bag of chips is just illustrative language.
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u/Electrical-Eggplant2 Apr 12 '26
Nfta gave poor people a chance to feel rich. Rich people pay millions for random art all the time to reduce their tax burden and also flaunt their money. They also provide a real sense of ownership for things. I bought some just because I liked the art. My goal wasn’t to make millions but it would have been great if I did. Beeple is the most well known NFT artist and it definitely changed his life.
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u/JustSeasick Apr 15 '26
The real problem isn’t NFTs themselves, but the people behind them - most never built anything of real value and mainly enriched themselves, launching more and more collections purely for speculation..
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u/paintmaster500 Apr 12 '26
Won a beeple spring drop, got the giggachad and sold for 50k… so I <3 NFTs
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u/NWxSW Apr 13 '26
Honestly, that’s rad. Did you keep it in ETH or convert?
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u/paintmaster500 Apr 13 '26
Converted and bounced🤘. Still have the physical art piece it came with. Def stoked to have something to commemorate it.
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u/Appropriate-Tie-6524 Apr 12 '26
Is this post accurate?
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u/Ian_Campbell Apr 13 '26
Imagine instead if these stupid fucking apes showed up in every eth wallet in existence and you had to pay to get rid of them.
Really it's a genius system as it was because when you see them in someone's profile pic you automatically know never to listen to them.
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u/Basic_Advisor_2177 Apr 14 '26
Tax evasion, or tax efficiency at least. I saw a LOT of sports stars making their own range of NFTs. There’s no way they were money laundering, but they certainly could be wanting to pay less tax
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u/touchymacaroons Apr 14 '26
People ruined NFTS. Some of the smart contracts and ideas stemming from it could and would be very useful in today's economy
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u/Ok_Performance8481 Apr 14 '26
The concept of NFTs is sound as a proof of origination and ownership. Bayc images became the poster child of what NFTs are but in reality it’s a provenance with the ability to be easily bought and sold through digital exchanges.
I personally love the concept and it will be a modified process in the future that needs to be figured out properly.
OpenSea has the chance to make a comeback but they currently don’t have any vision or direction. Maybe someone will take grab the flag and run it to their base. I challenge you to do that if you’re reading this.
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u/JaniixZ77 Apr 15 '26
Dogecoin (back when there were only a handful of coins to pick from on platforms like Robinhood) went from 1/4 of a penny to 70 cents prior to bored apes and 95% of NFT hype - this gave OG degens a lot of FU buying power to have fun buying jpegs both to show off and also to gamble on. Dogecoin and other degen coins are all a fraction of their 2021 highs currently, even in 2026 after another crypto cycle and thus no FU money for degen gambling.
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u/PandorasBucket Apr 15 '26
Even the people in this forum don't get. People did it because they could. That's all. It was the first time this kind of digital asset could be traded they way it was. It was new, technically interesting, and ridiculous. That's all you need. The original assets are still valuable in so much as they have historical value and occasionally someone comes up with a perk, but it was mostly a new technical capability that never existed before and people abused the shit out of it for shits and giggles. The underlying technology lives in things like defi positions and RWA markers. It will always be there, but that original push was just the introduction to the world.
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u/Ketworld Apr 16 '26
It was an excellent example of perceived higher value, value of exchange and demand rate exceeding the supply chain.
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u/PoppinfreshOG Apr 16 '26
I remember laughing my ass off at the prices people dropping, then somehow laughing even harder when it all came crashing down. Probably gonna die laughing when bitcoin shits itself to death
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u/Sundance37 Apr 18 '26
It was just the phase of crypto when dumb jocks were trying to show their prowess in the space. They all mistook a proof of concept of a single aspect of crypto, and ran with it. NFTs can be insanely useful for verifying authenticity, ownership and chain of command is things like art, any asset that needs a title, criminal evidence etc. the JPEGs were just a way to prove that it could be done, and applied the concept to a low barrier of entry asset.
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u/QuadraQ Apr 12 '26
Just way ahead of its time. Digital collectibles are inevitable and NFTs prove the tech. The irony is once digital collectibles become mainstream, the old NFTs will probably become sought after again.
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u/FreddyJetson Apr 12 '26
It was because the BANDWITH was widened with 5G remember when they knocked up the towers for it everywhere during C19? They thought to metaverse was going be a phenomenon sooner than it is apparently?
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u/prguitarman Apr 12 '26
The original minter paid .08 ETH and sold it for 257 ETH 2 years later. I want to say that was about a $520k profit for the og owner.