NFT stands for non-fungible token.

42 comments

  1. I don’t currently have a reason to own any NFTs. The concept has potential once it evolves past the “buying jpegs” phase its market is obsessed with right now. I don’t care to own a jpeg at this time. Now if I can own and transfer a deed or car title or something as an NFT and it’s legally recognized as ownership of said deed or car title? Sure.

  2. No. Personally I think they’re dumb, and a fad. I have some Crypto (usually buy when it crashes like now), but outside of that it’s stocks, bonds, IRAs, and savings accounts

  3. I have not invested in NFTs. I do not invest in NFTs because I try not to invest in scams.

  6. No. Because as it stands right at this moment, every single person who is buying and selling them is doing so for no reason whatsoever outside of turning them around into dollars. They are fictitious commodities at this point. It would have to move out of the get-rich-quick phase for me to be remotely interested.

  9. I just feel that the NFT craze is all about people that feel that they missed out on Crypto trying not to miss out on the next “thing.”

    And this “thing” is going to wind up just being Beanie Babies for the 2020s.

  11. Nope. It’s basically the South Sea Company fiasco with a new coat of paint. Nothing says wise investment like being told to jump in without thinking in a Super Bowl commercial.

  12. 1. No. 2. It sounded like a scam, it continues to sound like a scam.

    I remember when people lost their shirts “investing” in 90s comics nobody actually wanted to read, baseball cards for forgettable players and goddamn beanie babies. This is the same thing in a cyber wrapper.

  13. How does one “invest” in a scam? The entire concept of it is ludicrous and made to take money from suckers.

  18. No. I need to be more responsible with my money than that. The core concept is dumb – a blockchain receipt showing you paid for a URL that hopefully still leads to someone’s art. The market is overhyped and unregulated, making it volatile. I have a nice nest egg but I’m set up for stable growth that I can set and forget. No way to justify the insanely high risk investment of NFTs when my money can’t even buy formula for my daughter.

  19. NFTs aren’t an investment. They’re a scam and/or a poor attempt at money laundering.

    You don’t buy the digital asset, as that would require copyright transfer, which does not occur. You instead buy a link to the digital asset, which you likely already had access to, but even supposing you didn’t (maybe the monkey you were looking at previously was lower resolution than the true “purchased” image or something), the transaction fees will far exceed any conventional online sales platform.

    Trying to use NFTs to manage sales of physical goods where things are messy and complicated and get destroyed, ship-of-theseus’d, filed incorrectly, etc would just be a nightmare.

  23. No. But if you do, I have some lovely ocean front property in Iowa I would be happy for you to invest in.

  24. Invest is a strong word.

    I buy Art on occasion, and I really can’t figure out the difference between the two.

    I would never consider it any kind of vessel for financial success; but yeah, I have and will in the future spend on money on unique pieces of ‘data’.

  27. No, because I’m not sure how an NFT would increase in value or why it would be reasonable to expect an NFT to gain value.

  28. That’s like asking why I don’t invest in an MLM. It’s a scam. I might as well flush cash down the toilet.

  29. NFTs are worse than a tulip-bulb market. At least with tulip bulbs, when you went broke you could grow some flowers.

    This is FOMO and pump-and-dump combined to defraud idiots.

  30. Nope. I’m not into throwing money at things when their main hype consists of “this is the next big thing!”

    As far as I can see, the main value they provide outside the hype is to collectors, which I am not. I wouldn’t be surprised if they follow the classic Dutch tulip path.

    My money will remain in index funds, except for the large chunk I’m throwing at a condo next month.

  31. No. I do not see any value in NFTs (or crypto). At best, it’s a modern day Tulip mania. At worst, and more likely, it’s a series of massive Ponzi schemes the likes of which we’ve never encountered before. A lot of people are going to lose a lot of money either way.

  32. Nope. Frankly, I just don’t understand them, what makes them valuable, etc. The second someone else doesn’t find the same one valuable, I could be out a lot of money with nothing tangible to show for it or use. It is also kind of defeating knowing that my neighbor could have the same one on his monitor, with no discernible difference to anybody at all.

  34. I don’t have thousands of dollars to drop on writing my name in an accounting ledger that says I “own” a URL I don’t control on a server I don’t control that currently hosts a copy of an image of an ugly monkey (but might change at any time). I also don’t currently need to launder money.

  39. Any of you NFT bros out there interested in some vitamin shakes or leggings with whimsical prints on them?

  42. No, because it’s an obvious scam that only idiots would fall for.

    All of cryptocurrency is garbage, and NFTs are even dumber than that.

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