For the curious, it seems like the last time there was any meaningful activity for these NFTs was 3 years ago when someone sold one for ¢12: https://opensea.io/collection/cryptomondrian/activity?activi... The height of the NFT fever era was truly something.
mingus88 · 5h ago
Wasn’t it always just money laundering?
Need to turn a million dollars of shady money into legit profit? Mint an NFT or coin and set a ridiculous price on it. Make the transactions on an anonymous ledger. Sell it to yourself.
I mean, come on. Art and real estate have always been vehicles for wealthy people to dump money offshore. Crypto made it so much easier to invent assets out of thin air and set whatever price you want on it.
With NFTs you don’t even need to hype up some artist as the next big thing, or trade in antiquities. Just generate a picture of Trump as a beefcake fireman or something and sell it for 1.8 million. That actually happened.
And golly, nobody is talking about it anymore. The fad just dried up just like all the money. Huh, go figure.
Time to harvest those losses.
bediger4000 · 16m ago
I'm not against the idea that NFTs are just for money laundering, but if so, you have to ask why they didn't remain popular? Is all the money laundered that needs to be laundered? Is cryptocurrency better for laundering somehow?
krapp · 11m ago
NFTs crashed because someone realized you could use multiple slurp juices on a single ape.
palmfacehn · 3h ago
I always assumed they were deliberate losses to counter taxable gains.
readthenotes1 · 5h ago
"NFTs are status, identity, community, self-expression, access and more."
Always wondered why someone would pay a lot money for a bunch of pixels. Status and attention-serking (aka identity) are pretty strong drivers
BoorishBears · 4h ago
NFTs got much bigger than they could if it was just people who believe in the mission, just like Bitcoin
Speculation was the main driver for most people once the prices started going exponential
kkfx · 5h ago
The NFTs that most people haven't yet understood are contracts, notarial deeds, and bureaucracy in general, which can be transferred from third-party guarantors to the "great public guarantor" of blockchain participants, all recorded with a certified date and verifiable history.
Need to turn a million dollars of shady money into legit profit? Mint an NFT or coin and set a ridiculous price on it. Make the transactions on an anonymous ledger. Sell it to yourself.
I mean, come on. Art and real estate have always been vehicles for wealthy people to dump money offshore. Crypto made it so much easier to invent assets out of thin air and set whatever price you want on it.
With NFTs you don’t even need to hype up some artist as the next big thing, or trade in antiquities. Just generate a picture of Trump as a beefcake fireman or something and sell it for 1.8 million. That actually happened.
And golly, nobody is talking about it anymore. The fad just dried up just like all the money. Huh, go figure.
Time to harvest those losses.
Always wondered why someone would pay a lot money for a bunch of pixels. Status and attention-serking (aka identity) are pretty strong drivers
Speculation was the main driver for most people once the prices started going exponential