Elon Musk reportedly bought ~$2M Bored Ape NFT

[rr6013]

?
What would a Tesla Bored Ape EV look like for $$$ how many dollar figures?

Elon is up to something besides getting an ego massage for 569 ETH purchase of Bored Ape #1837.

Bored Ape #1837 NFT

Personally Bored Ape and the amount of universality found in its artistic character imagery is fascinating. It shares an element of fascination in the same vein Cybertruck was off putting fascinating. No one! I mean not a single individual foresaw an apocalypse EV!

Like Cybertruck, I find design that immediately repulses, in the next moment reveal an honesty that can turn into popularity. Ergo aero FORDs, which Chevy Tahoe implemented inside and out I found fascinating. Ergo JEEP tugbutly flatscreen WWII windshield “de rigor” offroad beast - fascinating. ERGO Range Rover Classic, BMW2002, VW Bug, VW Combi, etc… Each are more than just iconic.

SO if a popular NFT meme were to spur a design what’s with the secrecy? Is that even what’s behind the BAYC #1837 NFT even if Elon bought it as claimed. EM certainly has not spread any cyber love of NFT as he has so vocally supported his love of a Shiba Inu Dodgecoin crypto currency. BUT for one thing about this that makes no sense. Elon invested Tesla ~$1M in ETH doesn’t himself then go out and personally throw twice that amount at NFT.

THUS unless a single NFT anchors an EV vehicle design thereby representing its NFT value inherent in each vehicle sold, the NFT asset holding accumulates value beyond artifact, becomes itself an iconic avatar and could be a new meme representing more than an NFT. It could be a whole ownersclub.

 

[Crissa]

The idea that these pogs... I mean NFTs will hold their value seems pretty fraught.

A fool and their money, I guess.

-Crissa

(I doubt Elon would spend money on NFTs)

 

[Sirfun]

A fool and their money, I guess.

-Crissa

If you want it.
Here it is, come and get it.
But you better hurry cause it's goin fast!

FOMO at it's finest!

 

[TruckDaddy]

Remember some Beanie Babies going for $10,000? Now $1 in garage sales.

Emus selling for $25k?

"Tickle Me Elmo" at $5k, one Christmas?

 

[Ogre]

I’m pretty sure the “F” in NFT stands for Fraud.

Multiple claims that celebrities have bought these things for tens of thousands or millions of dollars. Very few Celebrities actually using them on Twitter or anywhere else.

It’s not even a Ponzi scheme, the first buyers get just as scammed as the later ones.

 

[Berno]

It looks like a great way for rich people to increase their wealth. You create a limited supply of something out of thin air that is completely worthless and unnecessary, then convince people that they have to have it. Just like the stock market. I’m sure Elon and a hand full of people will make a killing.

 

[Crissa]

That's what gets me a out these crypto NFTs... there's no money behind them, they're not famous or unique artists, not well-known pieces.

Having non-fungible tokens that are a contract between the purchaser and artist makes sense. Heck, I have unique, no-copy, items in Second Life from artists you can't buy stuff from anymore because they aren't around. I didn't care about the uniqueness, because I cared about paying the artist for an avatar to play as. I still have it, still can play with it, it can't get lost, Linden Lab makes sure the unique identifier is stored with the media.

But these NFTs are no more than a URL. You can't be certain they were created with the artist's permission, if the website hosting the NFTs goes down, they're gone. If the website hosting the media goes down, they're gone. And these aren't peer sourced, like the tokens!

So there's nothing backing them, no way to assure they'll be there tomorrow, no promise to keep them. The average time between the media being lost and disconnected from a crypto NFT is about two months.

I have tokens in Second Life that over fifteen years old.

-Crissa

 

[Ogre]

… if the website hosting the NFTs goes down, they're gone. If the website hosting the media goes down, they're gone. …

…

I have tokens in Second Life that over fifteen years old.

If Second Life goes down you are similarly screwed.

Regardless.. the rest of your arguments are valid.

I think NFTs and crypto in general has a place in the world. There is just a whole lot of nonsense going on in the meantime.

 

[Crissa]

Sure. But Second Life also gets paid to stay up by me and others. And if they did go down, their software is mostly open-source, in the cloud, and can be (and has been) replicated.

They have a profit motive to stay online. The crypto-NFT houses already made their money, what do they care?

-Crissa

 

[Ogre]

Sure. But Second Life also gets paid to stay up by me and others. And if they did go down, their software is mostly open-source, in the cloud, and can be (and has been) replicated.

They have a profit motive to stay online. The crypto-NFT houses already made their money, what do they care?

-Crissa

Oh, but that’s the next phase of the scam.

Next they start charging people a hosting fee. “If you don’t pay this nominal annual fee, we are going to stop serving up the 350kb of data which you paid for previously. You paid $500 for this ‘amazing piece of art’ and it’s appreciated 2000% since you’ve bought it. If you act now you can lock in this fantastic deal and pay only 2% of the current assessed value to continue hosting it for the next 5 years!”

 

[Crissa]

...or they could just run off with the money.

https://blockworks.co/nft-creators-stole-1-3m-from-investors-then-vanished-sources-say/

This is not an uncommon story.

-Crissa

 

[TruckDaddy]

Oh, but that’s the next phase of the scam.

Next they start charging people a hosting fee. “If you don’t pay this nominal annual fee, we are going to stop serving up the 350kb of data which you paid for previously. You paid $500 for this ‘amazing piece of art’ and it’s appreciated 2000% since you’ve bought it. If you act now you can lock in this fantastic deal and pay only 2% of the current assessed value to continue hosting it for the next 5 years!”

Al Gore: I'm selling Carbon Credits at $100 each. If you cared in the least about the Earth, you would send ALL of your money right now, before Earth implodes!

 

[JBee]

You can't be certain they were created with the artist's permission, if the website hosting the NFTs goes down, they're gone. If the website hosting the media goes down, they're gone.

Sounds just like digital fiat currency. Less than 10% of transactions are cash.

 

[Ogre]

Al Gore: I'm selling Carbon Credits at $100 each. If you cared in the least about the Earth, you would send ALL of your money right now, before Earth implodes!

You just can’t resist the urge to pull random politics into a completely unrelated conversation?

 

[TruckDaddy]

You just can’t resist the urge to pull random politics into a completely unrelated conversation?

The thread is about spending a lot of $ on things that most people see zero real value in, AKA scams.

Buy carbon credits from me, instead. They are BOGO today, and come in a nice cardboard frame. Supplies are limited. Please hurry!