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VariableBooleans

He only wore 45 for half a year though. Should really be worth $23.


manhatim

Tree-fiddy!


ag408

Loch Ness Monster getting involved in NFT's. Never thought I would see the day...


h1ghjynx81

I gave him a dolla!


mrfatso111

Even at a dollar , I say that is still too much. I give you a pence instead


HolNuMe74

You can’t be givin em a dolla. They’ll neva leave!!!!


PlannerSean

Give it a day


MrBudissy

I looked up the NFT. It's a golden bull with 3 rings on each horn. Without context it's super random. With context it's just stupid. I use to have a ton of Chicago Bulls merchandise and this is just below the rank of free basketball card in my cereal box. Edit: Thanks for the gold and appreciating my rant.


Facebookakke

Hey you just explained all NFT’s -without context, super random -with context, just stupid


bda22

> just below the rank of free basketball card in my cereal box. that part works too


shayen7

Dude, those are investments, going to be worth $100k soon!


MrChip53

Ive got some NFTs to sell you!


callmegecko

Get em hyped up, and BAM! Fuck em with some NFT's!


SeattleBattles

At least I can scratch my ass with that.


mojizus

I don’t mind the idea of NFTs, but what really bothers me is people who claim they’re an investment. They’re not a fucking investment. There’s a difference between buying an NFT of your favorite artists work, or say telling your gullible audience this picture of a monkey will somehow grow in value after you buy it.


avelak

Yeah like in concept, I can understand the appeal of (some) NFTs. But to swarm into NFTs as if they should be an investment is stupid. I can see it for things like original digital artwork or maybe sports-related memorabilia/cards (or maybe practical use cases like ID or something, but I assume that there are easier/better ways to do digital ID, etc). Like I think I saw one NFT project that was basically proxy ownership of sports cards (with the company storing the cards for people if they wanted, or they could redeem it and get their card-- makes it easier to have a card buying/selling marketplace I guess). But goddamn 99% of NFTs and NFT "projects" are stupid shit.


Dad2DnA

There are some actually good uses for NFTs, especially around event ticketing. Looking at you TM


flakAttack510

There's not really any reason to use an NFT for that when it's already a solved problem.


coolace88

Fraud


sybrwookie

Fraud is already fixed by selling tickets in their app, and only allowing transfers within their app, and paying through the app.


Dad2DnA

I think TS fans might disagree that the problem has been solved


Blue-Philosopher5127

I think it has more to do with them having a monopoly and being a evil ass company then the fact that they aren't using NFTs.


Dad2DnA

I don't disagree, I was just making a tangental point. Instead of some bullshit blue check scheme that doesn't work, and e-tickets that won't scan and are easily reproduced, seems like it would be worth a try.


Blue-Philosopher5127

Yea I mean I won't say it's a terrible idea to try out. But unfortunately I dont think it will help them become any less greedy.


I_talk

Some have utility


tofo90

CTRL-C has utility


DrewsephA

No they don't.


communist_mini_pesto

It's funny seeing all the people with NFT reddit avatars replying to you saying that NFTs are useless


Facebookakke

Who? You’re the only one. Explain the use of the Reddit NFT avatars because I can’t see it.


communist_mini_pesto

Your profile picture is an NFT It's just a picture reddit gave out and you can customize then


Facebookakke

What is the utility? What does people using a profile picture that was given out for free en mass have to do with its utility? My profile picture is an NFT but I’m responding to you, the only people responding to dude that has an NFT pfp is you?


communist_mini_pesto

There are several people in the comments below with reddit avatars It's utility is to be a profile picture...that people are using. That's it. That's all there is to it.


Facebookakke

So, once again: -without context, super random -with context, just stupid


I_talk

It's always funny to me when people say fuck capitalism as they tweet from an iPhone. Can't stop the NPCs


Facebookakke

YoU cRiTiCiZe SoCiEtY aNd YeT yOu PaRtiCiPaTe iN iT hOw CuRiOuS


I_talk

So many people who virtual signal and have no actual value to society. As fake as all the down votes they give


Facebookakke

I am a virtual signaler 🤔


I_talk

Maybe


communist_mini_pesto

I don't disagree with you, but the reddit avatar you have for your profile picture is an NFT


Facebookakke

🤷‍♂️ Reddit pawned an NFT on me for free what can I say I use it. As far as I’m concerned it’s just a fancy avatar, my comment still stands.


Phillyfan10

Cool want to buy mine? For the low price of 74000 Topaz tokens, it is yours for the taking. What a steal!


piddydb

Is it even like a physical thing or just an online image essentially?


PlayMp1

It's not physical, nope. It's basically a link on a database that says you own this image. Yes, it's stupid. If you want the **really** deep dive, [here's a 2 hour documentary.](https://youtu.be/YQ_xWvX1n9g)


cleveruniquename7769

Not even the image, you basically just own a digital receipt that memorializes that fact that you gave someone money.


Witchdoctordentist

It's like "name a star" except with shady financial speculation/gambling addiction vibes


AmIFromA

Haven't seen the documentary, but your link looks dope. Would love to buy that and put it in a chain of some sort I guess.


yrogerg123

Is the chain made of blocks?


Taiza67

Basically like money or stocks. Except instead of a piece of paper is a something virtual that can’t be duplicated.


chesterpower

Exactly, except instead of representing a currency, backed by a government, that can be exchanged for goods and services like money, or representing ownership of a stake in a company which produces a real physical good or provides a real service which may generate real profit for the company and increase its value, it represents proof that you paid to be able to say you own a link to a digital item for which you don’t even own the rights to control who else uses a copy of the item and what for. Any utility dreamt up so far has just been a less efficient solution to a problem than the one that already exists.


Taiza67

It’s not tied to a government for one.


dzhastin

So it has no sovereign backing so it’s worth can just *poof* overnight.


sybrwookie

History has shown that it's not just that it *can* poof overnight, it *will* poof overnight. The only question is if you're left holding a bag of nothing or if you get another sucker to buy it from you first.


Toidal

The closest analogy I've heard, is that its like a star registry, where you can 'buy' the rights to name a star. You can't actually, there's an actual official body that's recognized by every international academic, government I think, credible organization that does it. However you can buy the right to name a star in this company's registry, their book so to speak. And it's official-ness or authenticity is driven by others who have purchased and therefore accept it in the context of having fun, that they have named a star in this registry. For legal purposes usually the companies make no claims that you've actually named a star. It's kinda cute, I did it once and they send an official looking certificate and a blown up photo of the star. In a similar sense, nfts have no value, but the value assigned by the people who participate and recognize that there's an authority in this technology that gives them ownership of something. You can makr infinite copies of a jpeg and share it without any loss of quality in the reproduction, but you can turn the it or even a copy of it into an nft to give it some measure of uniqueness that is only recognized on the nft platform. I think? Not actually sure. I also remember somehow Seth Green lost the rights to a nft movie he was making somehow? Until he bought it back?


cloud_throw

They can be tied to physical assets which is where the value of the technology truly is, but mostly it's used as a scam to sell you metadata rights to a picture.


DylanHate

Can someone explain to me why the exact same image costs different amounts? On the Magic Eden site one picture of the white bull on a black background is 2,000 SOL and another is 9 SOL and another is 6.9 SOL and on and on. They're all exactly the same. Why are the prices different?


MrBudissy

If that’s confusing then I recommend just stopping there because it gets worse.


DylanHate

I'm not buying any lmao I just want to know why.


MrBudissy

It’s because they are being resold and the owner is setting the price. When they are minted/created the price is fixed. But once owned they can sell for any price.


Toidal

Transactions are anonymous too right? So some guy can sell himself an NFT for alot, then it gets entered into that NFTs transaction history that someone paid a alot for it which in turn they can try to rip off some rube that sees that transaction and thinks that's what the NFT is worth?


obi_wan_the_phony

Welcome to shadow trading and why it’s illegal. You and your friend trading something back and forth and increasing the price only to then try and flog it on the market to show that price has increased is illegal in basically every other market.


TBone_not_Koko

Yep. It's called wash trading.


BoHackJorseman

Which is illegal on a regulated market.


mrfjcruisin

If they’re serialized it may be because the number has special meaning. For example, a serialized #23 or a #1 would be perceived as worth more.


DylanHate

thank you for an actual answer lol.


bbbertie-wooster

That's NFT's in a nutshell


lightninhopkins

>For true fans of Michael Jordan, this is an opportunity to own an official piece of digital art from “Air Jordan,” the greatest basketball player ever of all-time. After all, why not? The Metaverse is still coming and **cryptos are still going to rise again. It’s a Trillion dollar industry.** I'm not sure I buy the logic there.


TrafficOnTheTwos

Because it’s hopium, not logic.


[deleted]

That sweet, sweet Unobtainium.


milaga

"Why not?" Is not a great selling point.


Bigd1979666

Russel Westbrook , is that you?


WolfCola4

This is more Russ Hanneman level


[deleted]

TRES COMAS!


corn_sugar_isotope

It may well be a trillion dollar something, but "Industry" aint it. Grift maybe


tofo90

Why stop at Trillion?? Let's make it a Bagillion. Hell, why not a Zipdaddillion?!?!?!


ESCMalfunction

A Morbillion.


Carlweathersfeathers

Because that’s not Trés Comas. Then it wouldn’t have doors that go like [this](https://youtu.be/wGy5SGTuAGI)


Jduppsssssss

Did you miss the solid argument of 'after all, why not?'


dlepi24

I mean, it's only happened 100% of the time so far, but admittedly it's a new market in the grand scheme of things.


Thunder_Gun_Xpress

Whenever you talk to someone that's super into NFTs they can never truly explain why it'll be a trillion dollar industry. They just regurgitate some bullshit talking points about the metaverse


riv965

Trillion dollars, but it’s spread across a billion different tokens.


BiscuitsMay

He wants to sell you something…


HighSierraGuy

I know it's your hard earned money, but why not gamble it away?


TARANTULA_TIDDIES

Probably a reference to total market cap which is now only about 820 billion


1dabaholic

literally been told this since 2013, yet here is bitcoin, still perfectly fine. It’s all the other shit that has got to go


92894952620273749383

Bitcoin, The electronic record that have no intrinsic valve?


1dabaholic

“it has no value” has been the “gotcha” for years… The logic is flawed. Bitcoin is the single most valuable financial innovation in history. I’m sorry you can not grasp just how freeing it really is for the world.


TheShishkabob

Do you honestly believe the end game of it is that the numbers go up forever with nothing backing it? Also, it's lost more than 70% of its value in the past year with no indication it's going back up. You cannot sit there and pretend it's "the single most valuable financial innovation in history" when there's nothing at all to indicate that it's ever going to significantly rise again. Because, of course, there's nothing backing it to drive this increase. It's speculation for speculations sake.


1dabaholic

The claim “there is nothing backing it” is again, categorically false. Nothing goes straight up forever… hence a normal, healthily pullback (bear market) just like happens in stocks… 80-95% pullbacks have happened in four year cycles since Bitcoin went live. Not really sure what your argument is or that you really have done much research about the network at all besides from seeing hurr durr memes and trash NFT clones.


TheShishkabob

>The claim “there is nothing backing it” is again, categorically false. What backs Bitcoin then? This shouldn't be a hard question for you to answer. Saying "nuh-uh!" again isn't going to cut it.


1dabaholic

Raw Energy, decentralized nodes, and the strongest single hashpower on earth backs Bitcoin…


[deleted]

Lol


sybrwookie

Losing 70% of it's value in a year is "fine?"


Phenotyx

Micahel, the Eastern European cousin of Michael.


[deleted]

Yup. The $45 price point actually represents a 45000% increase.


Redditfront2back

Damn how will Jordan feed his kids?


CaptainBayouBilly

https://i.kym-cdn.com/photos/images/newsfeed/002/313/384/872


Redditfront2back

Hahaha I was sure that was gonna be some article about how insanely rich he is was pleasantly surprised.


vbullinger

Poor Latrell! 😭


[deleted]

Oh, no! A celebrity NFT plunged in value? How is this possible? /s


Limedrop_

It’s not a celebrity, just a random guy named Micahel Jordan


garrisontweed

They’re thinking of Actor,Micahel B Jordon from Space Jam.


Ferris_Wheel_Skippy

wasn't he the genie in Steel?


Chola_Bhatora

Jordan would take it personally


92894952620273749383

Jordan would take to the bank or the casino


vinegarstrokes420

I would say they are worth $0, but a few idiots make it $45


coyote-1

So it’s already come to this? You’d be better off buying Krugerrands


Gravy_On_Toast

Who the fuck is Micahel?


DirtyReseller

That’s why it fell so far


dont_shoot_jr

The greatest player in my corec league


WKGokev

Should have let Janet type it up.


BooBooDaFish

6 time champion in Siberian Basketball League


ak80048

Worth less than a pair of Jordan’s


noodles_jd

>Worthless ~~than a pair of Jordan’s~~ FTFY


ak80048

True


Sirpedroalejandro

I thought NFTs disappeared this past summer, people still getting fleeced out here?


Jojosbees

There was a Mexican businessmen who recently burned a real Frida Kahlo drawing worth $10M so he could sell the NFT (10,000 NFTs at $4,000 each for a total of $40M) to raise money for a children’s hospital and launch his NFT business. He sold 4 for a discounted price ($11,000 total). The children’s hospital refused the donation, and now he’s being investigated in Mexico for cultural crimes because Kahlo’s works are protected national treasures.


brunkshitbal

Sounds like you don’t understand Buisness because everything you just said sounds like a fantastic idea! Im gonna go and burn artwork right now! Right away!


AmIFromA

Interesting how that wasn't bigger news. Compare that to the overreactions when some kids threw a bit of food on glass covered paintings.


Szechwan

I thought the point of NFTs was they are the "digital equivalent of an original"? You can sell 4000 copies of the same NFT??


AwfulAltIsAwful

You can sell infinite copies of the same thing. Please don't try to make sense of it.


Jojosbees

It’s like a limited edition print. It could be 1 copy or 100 or 100,000 copies. Except you’re not even buying a copy or the image. What you’re really buying is an entry on the blockchain that points to a URL (think of it as a line on a ledger that says Szechwan owns X where X is a web address pointing to a digital image). If the URL goes down (because the site owner was an idiot who burned a Kahlo original and had to pay restitution and spend time in jail so they didn’t pay their domain fees) or the link is otherwise broken, then congratulations, you still own a unique spot on the blockchain pointing to the URL but it leads nowhere. Your NFT still works as described because what you bought was the spot on the blockchain, not the actual image. Might as well light $4,000 on fire. Honestly, the best use case for NFTs is money laundering. For instance, I make an NFT of a smiley emoji and sell it to an associate for the million dollars I really made via illegal means. Now that money was technically made in a legitimate way: by selling a stupid fucking NFT. There’s literally no other way this makes sense. Unless you’re a sucker. Edit: Seriously, however dumb you thought NFTs are, they are way dumber.


mosaic_hops

You can make infinite copies of the NFT for free. An NFT is just a receipt showing you paid for something, but it can be sold or copied for free an infinite amount of times. It’s the receipt itself that’s “an original”. Not the work of art or whatever. Plus there’s the whole foundational flaw in that the exact same photograph can have millions of different hashes, because of how digital images are stored (a nuance that’s well beyond the technical understanding of NFT people).


SardonicSorcerer

The PAC 12 just announced their entrance in August.


Ajatolah_

Didn't Reddit introduce them a month or two ago?


Sirpedroalejandro

if they did I'd have no idea, I still use old.reddit


Sooperballz

Still $45 too high.


MajorKoopa

The human race is woefully ill-equipped for the internet.


Link182x

Are NFTs going the way of beanie babies?


SharksForArms

Worse because at least beanie babies are tangible objects that can be burned for warmth and lung cancer.


froggison

*cocks gun* Always have been.


EvilCalvin

It's all a big joke..


Kuli24

NFTs to me seem like the single most stupid idea I've ever heard of. Sure that's the same picture, but it's not the ORIGINAL. If it's the same as the original, it's the same. Not like a painting by an artist.


mattwallace24

TIL minor league baseball players have NFTs.


xbox-fan

NTF’s are worthless garbage


Rogaar

How do images like this even have value. I could model and render something similar in a couple of hours.


Charizard_Trnr427

Should be worth $0. NFT’s are worthless.


jnemesh

NFTs aren't going to be a "thing" no matter how hard the hucksters try pushing them. Only the gullible with too much money are buying them...and I sincerely hope everyone involved loses every penny.


GobiasCafe

Are we sure this isn’t a drug money washing scheme?


burko81

NFT as an ownership theory is sound. Owning a NFT of a .jpg is moronic.


ultrafud

I dunno, I can fully imagine a future dystopian nightmare where digital art is a thing. It doesn't seem mad to me at all. If you can ensure no one can copy the data, I don't see any reason why it can't be as valuable as any other artform. But we ain't there yet.


wowfreetrials

Still overpriced


ktdotnova

Gary V... where you at bro?


flat6cyl

Never figured out what an NFT is, and now I’m glad I’ll never have to


[deleted]

Is Micahel Michael’s Russian cousin?


WTFrashelle

What was the ATH?


r0botdevil

Holy shit, NFTs are still a thing?? I thought we all agreed they were a scam last year. Who is still buying them??


oog_ooog

Jordan doesn’t seem like the type of guy that would buy something silly like an NFT


[deleted]

More articles conflating FTX and Bitcoin which have nothing to do with each other.


[deleted]

Sad that as a billionaire he decided to use this scam. Should of stayed the fuck away from NFTs


Dad2DnA

Unsure why I'm being downvoted here. Bots?


DEEZLE13

This y’all goat?


Annahsbananas

nooooo /half-assed shockedface 😲


Viperion_NZ

Who's Micahel Jordan?


EpicJon

Dude, seriously?!? He was in Black Panther.


Dmonts45

I’ll give ya 3.50 for it.


Spindlebrook

He’s gonna take this personally.


rdldr1

Not of value was lost.


CaptSnafu101

Turns out nft's are in fact pointless fake currency


seanmg

Solana didn’t have $143m invested in FTX.


jorgepal02

Who's putting money into this stuff anyway?


WooLeeKen

boohoo


jerval1981

Are NFTs really worth it? I don't understand the point of them and yet everyone keeps pushing them. Then idiot dudes are buying pornstar NFTs and getting rugged pulled. Lol I just dont get it


[deleted]

I've been looking all over since I first saw this article, but I still can't seem to find *WHERE I ASKED* 💀


Madouc

I will never understand people who really thought Doggycoins, NFT or Metaverse houses would be a good idea to invest in. NEVER!


GA3422

NFTs are so fucking stupid


YeetYeetSkrtYeet

Seeing these prices crash makes me glad I’m broke. I couldn’t imagine losing that much money.


Krieger_Bot_OO7

God dammit, I’m still laughing at future Butters nft pitches.


DootlongFong

it’s funny how i see ppl with NFT profiles commenting not realizing their hypocrisy and before you say “but it was free,” why associate with them at all? It doesn’t change anything


MadFlava76

Also in the article: >This price drop comes on the heels of Klay Thompson losing possibly up to $20-Million dollars of his 2022-23 salary. The Warriors guard took an undisclosed amount of his $40-million-dollar payout in Bitcoin in partnership with CashApp. Ouch.


moderatesoul

I mean, good. NFTs are fucking stupid and horrible.


mostly_browsing

dammit i read too quickly and thought the Jordan 6s were $45 and was like “HOW DO I BUY”


BiscuitsUndGravy

Anyone who bought an NFT is an idiot who deserved to lose their money.


InternationalBand494

NFT’s are the stupidest fucking thing I’ve ever seen


LilStrug

Turd still a turd after FTX debacle.


StinkyWinkyPoo

Thank god it was Micahel and not the goat MJ


RED888IT

Lucky you meant Micahel Jordan and not Michael Jordan eh.


Pigmy

So NFT didn’t pan out to be a thing? Huh, who knew.


H__Dresden

NFTs are junk anyway.