Rare Alien CryptoPunk NFT Sells for $23.7 Million

[NFT_QUEEN]

Rare Alien CryptoPunk NFT Sells for $23.7 Million

 

https://cryptobriefing.com/rare-alien-cryptopunk-nft-sells-23-7-million/?utm_source=tradingview_tickers_old&utm_medium=rss

 

 

[+jamwheat Subscriber²]

I guess I won't ever understand the "NFT" craze of buying a digital picture for that much money.

[Jim K Global Moderator]

On 13/02/2022 at 06:55, jamwheat said:

I guess I won't ever understand the "NFT" craze of buying a digital picture for that much money.

I'll sell you this for $10

 

 

[Steven P. Administrators]

On 13/02/2022 at 12:40, NFT_QUEEN said:

Rare Alien CryptoPunk NFT Sells for $23.7 Million

[DKAngel]

128 pixels later, what in the actual fuk

[NFT_QUEEN]

On 13/02/2022 at 16:29, Steven P. said:

 

🤣

[NFT_QUEEN]

On 13/02/2022 at 15:55, jamwheat said:

I guess I won't ever understand the "NFT" craze of buying a digital picture for that much money.

An NFT isn't only just a picture. It's a crypto token living on the blockchain.

 

Sure, you can right-click and save the underlying JPEG. But that won't make you the owner of the original NFT. There's big difference there.

 

Because the blockchain is transparent, ownership is easily verifiable. Only the owner of an NFT can do whatever they want with the token: send it to another wallet or sell it.

 

Why the NFT craze?

 

Because NFTs satisfy a basic human need in a capitalist society: to show off the wealth, to own something unique. Humans are strange, I know it. And NFTs do a much better job at it than a Picasso painting hanging locked up at someone's mansion. Why? Because of the benefits the blockchain provides being public and transparent.

 

I can talk about NFTs all day long. Please, if you have questions, don't hesitate to ask  

[+E.Worm Jimmy Subscriber¹]

On 13/02/2022 at 09:33, NFT_QUEEN said:

An NFT isn't only just a picture. It's a crypto token living on the blockchain.

 

Sure, you can right-click and save the underlying JPEG. But that won't make you the owner of the original NFT. There's big difference there.

 

Because the blockchain is transparent, ownership is easily verifiable. Only the owner of an NFT can do whatever they want with the token: send it to another wallet or sell it.

 

Why the NFT craze?

 

Because NFTs satisfy a basic human need in a capitalist society: to show off the wealth, to own something unique. Humans are strange, I know it. And NFTs do a much better job at it than a Picasso painting hanging locked up at someone's mansion. Why? Because of the benefits the blockchain provides being public and transparent.

 

I can talk about NFTs all day long. Please, if you have questions, don't hesitate to ask  

Is hour name Kalil? Sorry, inside joke

🤣

[Dick Montage]

On 13/02/2022 at 14:33, NFT_QUEEN said:

But that won't make you the owner of the original NFT. There's big difference there.

Yes, one means you have a copy of the image, which in a digital world means you essentially have a 1:1 of the original.

The other means, whoop de doo - some database mentioned you as the owner of something that people can make 1:1 copies of without any restriction or auditing

[rmorris003]

I think the whole NFT craze is just dumb. I would rather own a physical item than just digital data of said item unless your playing games and buying DLC.

[Depicus]

On 13/02/2022 at 17:44, Dick Montage said:

Yes, one means you have a copy of the image, which in a digital world means you essentially have a 1:1 of the original.

The other means, whoop de doo - some database mentioned you as the owner of something that people can make 1:1 copies of without any restriction or auditing

Even worse if you own the NFT you don't own the copyright to the image so you can legally only display it in the digital format you purchased and there is nothing to stop the copyright holder from removing any rights especially if you aren't the first owner, albeit unlikely. You're also at the whim of the blockchain owner who, if they decided to turn off the computers storing said blockchain, would render your NFT worthless. So you're paying these people on a hope and a prayer that they don't go out of business ever.

[NFT_QUEEN]

On 13/02/2022 at 20:44, Dick Montage said:

Yes, one means you have a copy of the image, which in a digital world means you essentially have a 1:1 of the original.

We live in a physical world with scarce resources.

 

In a pure digital world [web1 and web2], everything is abundant. 

 

Web3 and blockchain created digital scarcity. That's the innovation few people understand and so many people craved for before.

 

On 13/02/2022 at 20:44, Dick Montage said:

The other means, whoop de doo - some database mentioned you as the owner of something that people can make 1:1 copies of without any restriction or auditing

 

Incorrect.

 

You can right-click and save the underlying JPEG, but you cannot make a copy of an NFT; it's non-fungible; it's unique.

 

If you right-click and save a JPEG, and mint a new fake NFT with it; then thanks to blockchain being public and transparent, anyone can verify which NFT was original and which one was a fake copy.

 

 

On 13/02/2022 at 20:53, rmorris003 said:

I think the whole NFT craze is just dumb. I would rather own a physical item than just digital data of said item unless your playing games and buying DLC.

 

 

Remember when Diablo 3 was first releases, it had a real-money auction house.

 

Blizzard was so far ahead of the rest of the world.

 

If only did we have the NFT tech back then, oh the possibilities... 

 

These days, I truly believe that P2E [play-to-earn] model is the future, thanks to blockchain and NFTs.

 

On 13/02/2022 at 21:25, Depicus said:

Even worse if you own the NFT you don't own the copyright to the image so you can legally only display it in the digital format you purchased and there is nothing to stop the copyright holder from removing any rights especially if you aren't the first owner, albeit unlikely. You're also at the whim of the blockchain owner who, if they decided to turn off the computers storing said blockchain, would render your NFT worthless. So you're paying these people on a hope and a prayer that they don't go out of business ever.

Incorrect.

 

This is what sets the BAYC apart from the CryptoPunks [whose copyrights are fully reserved by Larva Labs]

 

In the BAYC and many other projects, the owner of an NFT legally owns all the rights to it.

[Emn1ty]

On 13/02/2022 at 06:33, NFT_QUEEN said:

Because the blockchain is transparent, ownership is easily verifiable. Only the owner of an NFT can do whatever they want with the token: send it to another wallet or sell it.

Except, unless something has changed, these NFT's are only hyperlinks to the content, not the actual content. Which means once that hyperlink dies you've bought dead space. Not to mention, the value of NFT's is almost entirely marketing driven right now. They immediately lose value the moment they're bought, and most of the time the value is only there for people who are in on NFT's to begin with.

It's kinda like trading cards, they have zero value outside of those who play the game (outside of the value of the paper they're printed on). And even then, their value is driven by their playability in professional play. NFT's don't even have that, there's nothing driving their value other than hype.

[Marujan]

ransomware money in work

 

and now no more illegal...as you have 30 kilobites PNG file

[NFT_QUEEN]

On 13/02/2022 at 21:38, Emn1ty said:

Except, unless something has changed, these NFT's are only hyperlinks to the content, not the actual content. Which means once that hyperlink dies you've bought dead space

NFTs metadata is frozen; it cannot be changed.

 

It's true that some NFTs link to centralized databases and are vulnerable. It's a new technology and a work-in-progress.

 

In the future, the storage databases will be fully decentralized.

 

 

Quote

Not to mention, the value of NFT's is almost entirely marketing driven right now. 

The same is true for the value of your house, the car you drive, the clothes you wear, and the food you eat.

 

Quote

They immediately lose value the moment they're bought

That's incorrect. All depends on a project and the people behind it.

 

Clearly the Alien Punk in OP just sold for a lot more that its original sales price.

 

Quote

It's kinda like trading cards, they have zero value outside of those who play the game (outside of the value of the paper they're printed on).

Yes, it's exactly like trading cards, which is what artists and collectors have been craving for - digital scarcity.

 

Quote

And even then, their value is driven by their playability in professional play. NFT's don't even have that, there's nothing driving their value other than hype.

 

Incorrect.

 

Many NFTs come with all sorts of utility.

 

Some NFTs serve as attendance tickets to real world events.

 

Edited February 13, 2022 by NFT_QUEEN

[NFT_QUEEN]

On 13/02/2022 at 21:48, Marujan said:

ransomware money in work

 

and now no more illegal...as you have 30 kilobites PNG file

Your security is your responsibility.

 

Stay safe!

[NFT_QUEEN]

On 13/02/2022 at 20:24, E.Worm Jimmy said:

Is hour name Kalil? Sorry, inside joke

🤣

That's a negative.

 

Now, tell me the joke please.

[spaceelf]

I generally don't care if people want to give other people money for absolutely nothing.  Whatever works.

 

(So now we get advertising from people with imaginary investments huh.  Fantastic.)

[neufuse Veteran]

I'm going to start issuing NFT's of my kids artworks....... seems to be worth about as much anymore

[Dick Montage]

On 13/02/2022 at 18:36, NFT_QUEEN said:

That's the innovation few people understand and so many people craved for before

It's utterly arbitrary.

 

On 13/02/2022 at 18:36, NFT_QUEEN said:

You can right-click and save the underlying JPEG, but you cannot make a copy of an NFT; it's non-fungible; it's unique

Again, it's entirely arbitrary

[NFT_QUEEN]

On 13/02/2022 at 22:30, neufuse said:

I'm going to start issuing NFT's of my kids artworks....... seems to be worth about as much anymore

Absolutely. I think you should totally give your kids a chance. 

 

And it's minting, ser.

 

On 13/02/2022 at 22:41, Dick Montage said:

It's utterly arbitrary.

 

Again, it's entirely arbitrary

The blockchain doesn't lie. It's infallible, immutable, and fully predictable. It does exactly what it's been programmed to do. It's free of corruption.

 

The likelihood of a 51% attack on the BTC or ETH blockchains is decreasing by the day and becomes prohibitively expensive that it's no longer worth doing.

Edited February 13, 2022 by NFT_QUEEN

[Joe User]

Ever wonder why some people are pushing NFT's so hard?

 

Because if they didn't, then they would be worthless. 

 

[NFT_QUEEN]

On 13/02/2022 at 23:35, Joe User said:

Ever wonder why some people are pushing NFT's so hard?

 

Because if they didn't, then they would be worthless. 

 

 

On 13/02/2022 at 22:26, Chaos Mage said:

I generally don't care if people want to give other people money for absolutely nothing.  Whatever works.

 

(So now we get advertising from people with imaginary investments huh.  Fantastic.)

 

Some people buy $20K Hermès Birkin bags.

 

While the others buy $20 knock-offs of those bags.

 

 

[spaceelf]

On 13/02/2022 at 14:40, NFT_QUEEN said:

Some people buy $20K Hermès Birkin bags.

 

While the others buy $20 knock-offs of those bags.

And others buy a picture of the bags that has no inherent value because they want to pretend it's important.

 

 

[NFT_QUEEN]

On 13/02/2022 at 23:41, Chaos Mage said:

And others buy a picture of the bags that has no inherent value because they want to pretend it's important.

 

 

 

On 11/02/2022 at 21:29, NFT_QUEEN said:

Not gonna lie, 99% of all the NFTs out there are worthless and will remain worthless forever.

 

It is a bubble. 

 

But, I also believe that we are in the very beginning of something very special.