Well, you win some and you lose some in the world of investing... The person heavily invested in a $2.9 million NFT and wanted to flip it for $48M and thought they would get at least a "good bid". The highest bid came out to be $277 (yes, not million or thousand). Asking for over 15 times the price he get it for... I think he got ripped off and is trying to rip other buyers off... Just a few words for the buyer, say bye to your investment profit you're looking for! Get this, he was going to "donate" half of his profit... what lies! Link: A man bought an NFT for $2.9M, then listed it for $48M. The top bid was less than $280 (msn.com)
Good thing PhDs can't be re-sold ... some people might be in for a rude surprise! I remember years ago when "Tickle Me Elmo" was THE popular Christmas gift for children and ...there weren't any. Suddenly there were ads at atrocious prices - $900, etc. People of low character were claiming part of the price would go to charity. As you say, Bryan - "what lies." Human nature is unchanged since "Tulip Mania" of 1636-37. Or many centuries before.
I don't think there's anything much to get, Steve. When you can only get a thin, tenuous grab on a thing, that's usually when you realize you're dealing with a total fraud, as with NFTs. Only the originators get rich. And only sometimes. Just as in pyramid schemes. Somebody is going to make the late Bernie Madoff look small-time, with NFTs. Can't wait to read the story.
Even if Warren Buffett buys NFTs - I won't even look at 'em then. Speculation and gambling are haram - ritually unclean "no-nos" under Islamic financial rules - and that's the way I try to manage my finances. I don't eat pork or consume alcohol either - and NONE of it has to do with religion - I'm an atheist. I just do what makes best sense for me. Works pretty good.
I still want a Tickle Me Elmo, a Furby, and a Pocket Rocker. As you can see, I'm hip to all the trends
Aha! But what about a Cabbage Patch Doll? .... And how about a Chatty Cathy? Oh, right. You probably have those!
Heh, I used to get the Garbage Pail Kids cards back in the 80s. They made pretty sick fun of the Cabbage Patch Kids. I loved the parody items back then, very edgy stuff. I had jobs in the past working with Chatty Cathy's. One time, I asked one if she had an off switch. After that, my badge didn't work the next morning, nor ever again. Turns out, she was very chatty with HR... and they had an off switch...
