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Did Ya See? NFT Bought For 2.9 Million Can't Sell For More Than $280

DaremoK3DaremoK3 Posts: 723
in Non-Fungible Token (NFT) Art

Did Ya See?  NFT Bought For 2.9 Million Can't Sell For More Than $280 dollars...

https://worldnftnews.com/nft/this-crypto-entrepreneur-bought-an-nft-for-2-9-million-expected-to-sell-it-for-48-million-and-was-only-offered-a-few-dollars/

Okay, it wasn't "art", but it is a NFT.  Reports circulating are that he expected upwards of 50 million for the re-sell, but only a handful of buyers were even bidding and the top bid came in for only $280.00 US dollars.

Now, I'm no mathematician, but I believe if this will be the result of any future offerings, he will keep his "investment" or suffer a huge loss.

I wonder if this will start a trend of things to come...

What do you think?

Comments

  • PerttiAPerttiA Posts: 4,498

    The house of cards is starting to fall apart

  • IceCrMnIceCrMn Posts: 1,743

    One of the developers of ethereum was arrested

    https://yro.slashdot.org/story/22/04/14/2146247/ethereum-dev-imprisoned-for-helping-north-korea-evade-sanctions.

    ----

    I'm sure there's a tax loophole for the wealthy that will let him write the loss off of his taxes.

     

  • jag11jag11 Posts: 854
    Reality hit.
  • McGyverMcGyver Posts: 5,521

    Well, technically they did leave the bidding open and as of April 14, it had risen to $10,000... so now it's only more or less a 99% drop in value.

    You hear that folks!... NFTs are not worthless!... You can still recover around 1% of the price if you are lucky.

  • McGyverMcGyver Posts: 5,521

    PerttiA said:

    The house of cards is starting to fall apart

    The "house of imaginary cards" might be more appropriate.

  • foxstarfoxstar Posts: 6

    Y'know, if it was a tangible object I'd almost, ALMOST, be willing to pay 280 bucks for something that was once valued at 2.8 million just for the bragging rights of having it as a conversation piece.  But it'd have to be a physical object I could actually hold in my hands and show people...

  • IppotamusIppotamus Posts: 1,562

    It is funny when Beeple did his auction he put his image on an e-frame that showed the image the purchaser had bought.  I thought that alone was a really good idea.  A way for digital artists to sell something physical and even unique to people who actually like their art.

  • vrba79vrba79 Posts: 946

    I can't wait for this whole fad to disintegrate. I won't even stupid-shame the people who went all in on it, I just wanna see it gone.

  • Pickle RendererPickle Renderer Posts: 7

    Yes.  NFTs are a scam.  Most trades are wash trades or fools parted with their money.  Roger explains it far better than I ever could.

  • WendyLuvsCatzWendyLuvsCatz Posts: 32,769

    with the Terra UST and Luna crash going on Cyptocurrency may lose some of it's shine and hopefully NFTs as well

    an awful lot of people look forward to the demise of it all and I am one of them devil

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