I guess the market has to catch up

[herr_oberst]

So, this fella buys an NFT (non-fungible token) for 2.4 million USD.
The prize is the first tweet from the creator of Twitter. (I don't know how he owns it, this stuff is way beyond my lizard brain. I've seen the tweet. I could look at again any time I wanted to, but somehow this investor now owns it.)

FF a year or so, he puts it up for sale for 48 million. USD. Now, before you think he's just being greedy, understand that he plans to donate half of the profit to charity. If you're cynical your mind might go to dark places here, but let's give the guy the benefit of the doubt.

Well, the deadline for the sale comes and the highest bid is about 250. USD.

What do you think? Sad trombone, or do investors just need time to catch up to the NFT market?

[cstreit]

Lol.

Even if I dig deep into my imagination I can’t see anything that is available digitally in the public domain having worth like this when this hype cycle is over.

Maaaaaybe an original piece of digital are or music that has been unreleased…

[nota]

what is a pet rock worth these days ?

never got some art values

[cstreit]

Originally Posted by nota

what is a pet rock worth these days ?

never got some art values

Not much, but take a photo of it and turn it into an NFT it’s worth 10k for sure.

[masraum]

Originally Posted by herr_oberst

So, this fella buys an NFT (non-fungible token) for 2.4 million USD.
The prize is the first tweet from the creator of Twitter. (I don't know how he owns it, this stuff is way beyond my lizard brain. I've seen the tweet. I could look at again any time I wanted to, but somehow this investor now owns it.)

FF a year or so, he puts it up for sale for 48 million. USD. Now, before you think he's just being greedy, understand that he plans to donate half of the profit to charity. If you're cynical your mind might go to dark places here, but let's give the guy the benefit of the doubt.

Well, the deadline for the sale comes and the highest bid is about 250. USD.

What do you think? Sad trombone, or do investors just need time to catch up to the NFT market?

THis is why I don't speculate which is what this guy was doing. He was hoping that he'd make 10x his initial "investment." It didn't work.

[john70t]

Don't know about other commodities, but I'm all-in with the Dutch Tulip Bulb market.

[masraum]

Originally Posted by john70t

Don't know about other commodities, but I'm all-in with the Dutch Tulip Bulb market.

I hear that's going to explode any day now!

[stevej37]

A couple weeks away yet...low 30's and snow showers don't cut it.
It could all change by then.

https://tuliptime.com/

[GH85Carrera]

At our local Porsche dealership they have a "previously owned" 911 GT3 Touring, cabriolet in chalk for a mere $450,000. One of my friends suggested if it was purchased, kept in perfect running order, and low miles, and stored in a climate controlled place in in 5 years it likely can be sold for a profit. I can't imagine owning any car as just an investment, but that is just me.

A car is a physical object that has a title and one can say they own it. How can anyone own a digital test string purported to be the first tweet? And how can anyone protect it from copyright infringement, or reproduction. And who would want care?

[herr_oberst]

Tulips, cars, art. I can at least grasp the concept of hedging the value of your money if you have mountains of it.

Somewhere in America there is a pornstar who farts into a jar and sells that, along with a certificate of authenticity .

I'm ashamed that I know about this, but at least it's tangible () and it makes more sense to my LB than the NFT.