Anyone collecting NFTs?

[bartender100]

VeVe is the app I use, they have licences from some very big companies including Marvel, and recently MGM licensed them for the new James Bond film

 

When they do a "drop" they sell out very quickly, rare and ultra rare are the target as they immediately increase in value on the secondary market

 

https://www.veve.me/

 

Another platform is openseas, which veve is rumoured to be joining soon

 

https://opensea.io/

 

Crypto collectors might like to check out the OMI token, which gets burned every time an NFT gets sold on veve

[Farmerslife]

Has anyone got a translation ?

Thank you for reminding me but, Jesus, I am old!

[wprime]

7 minutes ago, Farmerslife said:

Has anyone got a translation ?

Thank you for reminding me but, Jesus, I am old!

It's basically a blockchain ledger system that is used to identify ownership of particular things. The decentralised nature simplifies and cheapens selling the item, particularly for cross-border sales.

 

They can also be used to record shared ownership of expensive items allowing for people to invest in very expensive items like fine art by purchasing small shares of the item. This I particularly like because it makes investments typically only available to the rich, accessible to everyone. This could really push the prices for such investments up a lot as it'll increase the pool of money seeking to buy.

 

They're also being used to represent non-physical items. These sometimes come with an income from royalties for the use of the item it represents so they can have some underlying value. Usually NFTs for non-physical items are in my opinion a scam though. I can't imagine anyone paying for an NFT representing a Shakespeare quote 50 years from now when the fad has passed.

[tonray]

I'd like to sell certain posters history here as a NFT...but I'm afraid some of the posts are so outrageous nobody would believe them.

[RichardColeman]

Nearest I get to investing in digital art is in a 2nd hand video game. And that's the way it will stay.

 

Whole idea is nuts in my opinion.

 

 

[Farmerslife]

14 minutes ago, wprime said:

It's basically a blockchain ledger system that is used to identify ownership of particular things. The decentralised nature simplifies and cheapens selling the item, particularly for cross-border sales.

 

They can also be used to record shared ownership of expensive items allowing for people to invest in very expensive items like fine art by purchasing small shares of the item. This I particularly like because it makes investments typically only available to the rich, accessible to everyone. This could really push the prices for such investments up a lot as it'll increase the pool of money seeking to buy.

 

They're also being used to represent non-physical items. These sometimes come with an income from royalties for the use of the item it represents so they can have some underlying value. Usually NFTs for non-physical items are in my opinion a scam though. I can't imagine anyone paying for an NFT representing a Shakespeare quote 50 years from now when the fad has passed.

Thank you, seriously. You have taken the trouble of attempting to explain it to someone whose grasp of these matters is non-existent. ????

A valiant effort on your part and whilst I can understand what you have written I find it difficult to relate it to the OP.  NFT was the National Film Theatre in my day, what is it now?  "Drops" is this putting something up for sale?  OMI is this another cryptocurrency?  

Sorry, stoneage man here but this is all beyond me.  ????

[HenryfromMalaysia]

Bitcoin as the hedge against fiat like USD endless printing I understand. 

 

But NFT? When the whole NFT drop you will have a digital logo that a kid can draw out and that is worth nothing

[wprime]

3 minutes ago, Farmerslife said:

Thank you, seriously. You have taken the trouble of attempting to explain it to someone whose grasp of these matters is non-existent. ????

A valiant effort on your part and whilst I can understand what you have written I find it difficult to relate it to the OP.  NFT was the National Film Theatre in my day, what is it now?  "Drops" is this putting something up for sale?  OMI is this another cryptocurrency?  

Sorry, stoneage man here but this is all beyond me.  ????

 

NFT stands for Non-Fungible token. It uses blockchain technology like cryptocurrencies but the tokens are one off things rather than mined things like cryptocurrencies, and they represent some underlying asset.

 

3 minutes ago, HenryfromMalaysia said:

But NFT? When the whole NFT drop you will have a digital logo that a kid can draw out and that is worth nothing

I would tend to agree that most NFTs should be worth nothing. But take for example an NFT representing a popular stock photo which you receive royalties for whenever it is used - that has underlying value because it generates an income.

 

Like most things, it's not the technology that's a scam, it's that some applications of it are scams.

[GrandPapillon]

1 hour ago, Farmerslife said:

Has anyone got a translation ?

Thank you for reminding me but, Jesus, I am old!

it's a new kind of scam for crypto boys after they failed to convince the world that blockchain was the only tool ever needed for the human species :)

[bartender100]

Loving the replies guys thanks???? but I am no spring chicken by any means, but I have always kept up technology and trends as much as my tiny brain can, done pretty good with Crypto coins, and own 9 NFTs which have all risen in value, download the veve app, some are very cheap, store it for your grandchildren? They might well thank you in 20 years

[mjnaus]

2 hours ago, GrandPapillon said:

it's a new kind of scam for crypto boys after they failed to convince the world that blockchain was the only tool ever needed for the human species ????

Failed to convince the world or just you and a hand full of other senior citizens? From where I am standing, it appears the world is catching on pretty rapidly right now. 

[freedomnow]

 

[GrandPapillon]

17 minutes ago, mjnaus said:

Failed to convince the world or just you and a hand full of other senior citizens? From where I am standing, it appears the world is catching on pretty rapidly right now. 

you guys are hilarious with your pipe dream, it feels so 1999 ????

[GrandPapillon]

29 minutes ago, bartender100 said:

Loving the replies guys thanks???? but I am no spring chicken by any means, but I have always kept up technology and trends as much as my tiny brain can, done pretty good with Crypto coins, and own 9 NFTs which have all risen in value, download the veve app, some are very cheap, store it for your grandchildren? They might well thank you in 20 years

NFTs will be yesterday fad next year :)