Would you pay $750k for this punk? (NFT Art)

Martynt74 said:
Ah, maybe they've dropped them, but i'm sure there was a spell they were from $50 (which the guy paid), up to around $500
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probably more like someone listed on on ebay for 500 but it never sold.
they werent licensed coins you could bang your own out for almost nothing
 
It's funny because I got so much grief for spending a few quid on Habbo Hotel 15 years ago, and here we are :D

Edit: 19 years ago :eek:
 
mrk said:
The people that initially got these for free when punks were first launched couple years ago are now laughing their butts to the bank!
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That's the thing, has anyone actually converted anything like this into cold hard cash in the bank, or is it just numbers being pushed around between digital wallets and never gets truly spent?
 
https://en.wikipedia.org/wiki/List_of_most_expensive_sports_cards

Some stupid prices for what are essentially old pieces of paper with a printed picture, I'm sure people thought it odd to collect baseball cards, just as people think it odd (myself included) to collect this digital art

These punks and other NFT's going for silly money is just the transition from paper to binary, just like money is transitioning from paper and metal to binary, although I do wonder how much is actual collecting vs just purely speculating based on the current crypto hype
 
All of it?

But then fine art is just speculation if you don't actually appreciate it?

Art is worthless without meaning.

It's just sad that people find it worthy. It's just a way to launder your crypto into another form.
 
I wonder who will be the first to deliberately "destroy" some bitcoin or similar currency... I guess put it beyond use by anyone permanently.. for "art".

 
Is this really so different to a super rare knife/skin on CSGO?

Some of those things sell for £30k+ with the most expensive "skin" ever selling for $150k.
 
EdGey said:
Is this really so different to a super rare knife/skin on CSGO?

Some of those things sell for £30k+ with the most expensive "skin" ever selling for $150k.
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yea because not everyone can have a super rare knife skin in CSGO

anyone can make pixel art and have it on the internet.

from what I've seen it's all crap anyway :P
I've seen some super awesome realistic animated pixel art that likely took many hours to achieve, half these things people are buying look like they took 5 minutes
 
robgmun said:
That's the thing, has anyone actually converted anything like this into cold hard cash in the bank, or is it just numbers being pushed around between digital wallets and never gets truly spent?
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"cold hard cash in the bank" is digital as well nowadays. Money is essentially tokens and has become increasingly abstracted from anything tangible. We still tend to treat money as a thing of value in itself, but it isn't. It's just widely accepted tokens. Numbers in a digital wallet are as "real" as other tokens unless the tokens themselves are made of something that has some value (which is not connected to the face value of the token, e.g. a metal coin has some value as scrap metal but usually not the same value as the face value of the coin).

NFTs are just another example of tokens. They have the advantage of not being possible to forge and the disadvantage of not having any powerful organisation backing their value.

arknor said:
cos your arent laundering moneylol
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There is that, but I suspect most people buying NFTs at the moment are doing it in the hope of selling them for a profit, i.e. free money.

There's also the possibility of evasion/avoidance of tax and/or rules on international movement of money. If I own a digital thing that has no physical existence and no official value but is treated as an asset worth £1 million, how much tax should I pay and where should I pay it? If I sell it in a different country, have I moved money out of the country?
 
Angilion said:
"cold hard cash in the bank" is digital as well nowadays. Money is essentially tokens and has become increasingly abstracted from anything tangible. We still tend to treat money as a thing of value in itself, but it isn't. It's just widely accepted tokens. Numbers in a digital wallet are as "real" as other tokens unless the tokens themselves are made of something that has some value (which is not connected to the face value of the token, e.g. a metal coin has some value as scrap metal but usually not the same value as the face value of the coin).

NFTs are just another example of tokens. They have the advantage of not being possible to forge and the disadvantage of not having any powerful organisation backing their value.
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You know full well what I'm saying, and I would like a real answer. Not some wired pseudo-philosophical concept of what money is. Being a paper millionaire is not the same as an actual one.
 
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