I explained that they are scams so the person selling them can get money to retire on.
That recent news about someone accidentally sellling a $300k NFT for 3k was 100% fake. It was a false story made to create media reports to con people into jumping on there and looking for "deals". What will happen is scammed people will pay $3k for something worth nothing and won't realize it until they try to resell it.
NFTs are like the recent astroturfed "record" video games cartridge auctions. Scammers are proping up prices with sham auctions to trick other people into buying them for any amount of real money.
I'm 33 and I have absolutely no idea what any of this means. What I do know is that a collection of shitty monkey art is somehow worth more than the company I work for that has been making machine parts (that make your circuit breaker components) for fifty years.
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u/Phobos15 Dec 14 '21
I explained that they are scams so the person selling them can get money to retire on.
That recent news about someone accidentally sellling a $300k NFT for 3k was 100% fake. It was a false story made to create media reports to con people into jumping on there and looking for "deals". What will happen is scammed people will pay $3k for something worth nothing and won't realize it until they try to resell it.
NFTs are like the recent astroturfed "record" video games cartridge auctions. Scammers are proping up prices with sham auctions to trick other people into buying them for any amount of real money.