this post was submitted on 10 Jan 2024
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[–] merc@sh.itjust.works 98 points 1 year ago (1 children)

That was one feature that was actually useful. Immediately you knew if you should just block someone and move on.

[–] AaronMaria@lemmy.ml 40 points 1 year ago (1 children)

Had us in the first half, not gonna lie.

[–] stackPeek@lemmy.world 14 points 1 year ago

in a way, blue checkmark is a useful feature too.

[–] TimeSquirrel@kbin.social 93 points 1 year ago (4 children)

This had to be the most short-lived tech trend I've ever seen in my 41 years. Tamagotchi lasted longer in its heyday.

[–] Bonehead@kbin.social 73 points 1 year ago

To be fair, Tamagotchi provided more value than NFTs ever could.

[–] porksoda@lemmy.world 7 points 1 year ago (2 children)

Same. I'm getting to the age where I say "I don't get it" when it comes to a lot of popular things these days. I said it loudly about NFTs, glad to see I didn't misunderstand it.

[–] Fisk400@feddit.nu 6 points 1 year ago

Someone mentioned in a video about crypto that the boom in nfts coincided with new tax rules for art that made it harder for millionaires to store/hide their money in it and avoid tax.

That's when it all clicked for me.

[–] beebarfbadger@lemmy.world 2 points 1 year ago

What's not to get? You convince the more gullible to put money into it, when enough people have fallen for it, you grab and run. Really nothing new.

[–] SeedyOne@lemm.ee 6 points 1 year ago* (last edited 1 year ago) (5 children)

And yet crypto is back up again for some dumb reason. Are we sure NFTs are truly dead or are we going to see that grift in a new form soon? One can only hope it's the former.

[–] TimeSquirrel@kbin.social 18 points 1 year ago* (last edited 1 year ago)

NFT as ape pics are dead, yes. But crypto as a form of value exchange for transactions where you don't want too many eyes looking at it has not stopped since its invention in 2008. It's just going to become a normal staple of the internet, like Bittorrent and VPNs, just existing and being used without anybody really caring too much about the technology itself. I still use it to pay for some online services where I basically just want to hand them the internet equivalent of a wad of cash without giving anyone any account details of any kind. I've been doing that since 2013, the NFT thing just kinda came and went and I didn't care too much about it.

[–] joshhsoj1902@lemmy.ca 7 points 1 year ago (1 children)

Keep in mind that buying photos isn't the only application of NFTs. People stopped buying valueless photos, but other implementations of NFTs kept on being used.

[–] squiblet@kbin.social 2 points 1 year ago

Right… the technology conceivably has value as a way to digitally trade ownership and track authenticity. It just happens that it was used for a bunch of truly worthless algorithmically generated art that people got suckered into by hype.

[–] ililiililiililiilili@lemm.ee 3 points 1 year ago

NFTs came about due to collectable communities trying to capitalize off cryptocurrency (think baseball cards, shoes, Funko Pops, etc). NFTs were doomed from their inception because they attempt to give limitless data artificial scarcity.

[–] caoimhinr@lemmy.world 1 points 1 year ago

Crypto is up because the SEC greenlit crypto ETFs being traded on the stock market.

[–] s_s@lemmy.one 0 points 1 year ago

That dumb reason is Tether printing new phoney-bucks.

[–] MargotRobbie@lemmy.world 38 points 1 year ago

I would imagine the sheer embarrassment of having an really ugly monkey NFT profile picture is enough of an incentive.

Credit to where credit is due, good for X Formerly Known as Twitter, though this is mostly because Musk only used crypto as a grift, whereas Jack Dorsey is a True Believer in crypto.

[–] deegeese@sopuli.xyz 27 points 1 year ago

Continuing removal of all features not related to showing ads alongside Nazis.

[–] Nobody@lemmy.world 13 points 1 year ago (2 children)

While the value of some of the high-priced tokens such as the Bored Ape Yacht Club (BAYC) has plummeted from its peak, the NFT market has shown a sign of recovery in the last few months with trade volumes exceeding $1.6 billion according to NFT aggregator CryptoSlam.

Who is still falling for this scam? Even Xitter is Xitting on NFTs at this point, and morons are still buying them.

[–] ugjka@lemmy.world 7 points 1 year ago

Err, isn't it just mostly criminals doing various criminal schemes using NFTs as a tool?

[–] pup_atlas@pawb.social 2 points 1 year ago

It was never a scam, it was always a successful money laundering operation for the rich while covid had all the real galleries closed. It did exactly what it said on the tin. It’s just unfortunate that some people thought it was a real economy to begin with. Either way, good riddance.

[–] Pxtl@lemmy.ca 12 points 1 year ago (1 children)

Even Twitter agrees, NFT stands for No Fuckin' Thanks.

[–] MimicJar@lemmy.world 0 points 1 year ago (1 children)

Assuming Twitter survives long enough, it'll get added back but tied to a Musk-backed currency.

[–] ChunkMcHorkle@lemmy.world 0 points 1 year ago* (last edited 3 months ago)

deleted by creator

[–] squirrel@lemmy.blahaj.zone 11 points 1 year ago

Now Elon has lost the crucial support of NFT bros. All five of them!

[–] Album@lemmy.ca 9 points 1 year ago

The value of your NFT just went from .02 to .0002

[–] Paradox@lemdro.id 4 points 1 year ago

Best thing Elon has ever done right here

[–] can@sh.itjust.works 2 points 1 year ago

Does reddit still have 'em?