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Post by Patjade on Nov 14, 2021 23:26:57 GMT -5
Who says the bots aren't owned by the site owners and that they pay anything to themselves? It'd be like a plant at an auction to drive up the price and if the bot wins, the owners can just turn around and sell the "won" NFT for more later, if anyone will have it. If the site owners "bought" their own NFTs with bots, then proceeded to actually sell none to real people, then they're even more of a joke because they've made nothing off the scheme. X'D They'd use their bots to buy the "cheap" ones, leaving the more expensive ones for the rubes.
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Post by Killix on Nov 15, 2021 9:22:27 GMT -5
I would laugh my rear off if the Metaverse jerks tried to scam their own system only to get utterly burned by massive monetary losses. The NFTbros were like, "bruh. If you just sold it at a "low" price and kept it consistent, it would have sold." The tier prices are rife with bot abuse and folks jumping ship. The possibility that their greed backfired extra hard is delicious.
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Post by Allison on Nov 16, 2021 20:42:39 GMT -5
Okay. So... I'm still confused about the whole purpose of NFTs. I mean, beyond the "horrible idea, stolen art" stuff. So. I own an NFT. What can I DO with it? Can I sell it to someone else? Can I trade it? Or it is just that you "own" an NFT? With them releasing the images, there isn't even any "perk" to being able to see it, if everyone can see the ones that have been minted. The concept behind Neopets and all unique NFTs seems completely counterintuitive to trading or selling them at a higher price.
Like... I know Major League Baseball is playing around with NFTs, but to me, that kind of makes a bit more sense. You have actual teams, and stadiums and players that you can base things off of. And say.... a Fenway Park NFT would be "worth more" than a "LoanDepot Park" (where the Florida Marlins play) NFT. The same with players. NFTs based on good/popular players would be worth more than an unknown player.
The same would go for rarity. If there were 100 NFTs of image A (the exact same image) and only 1 of image B, obviously image B would be "worth" more.
But with the random, unique pet images with no duplicates (thus they all have equal "rarity", there seems to be NO real value in them. So.... why would I pay you more than you paid for this random image?
Or am I hitting the nail on the head on why Neopet NFTs (in particular?) make no sense?
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Post by Duke Pikachu on Nov 16, 2021 21:53:01 GMT -5
Okay. So... I'm still confused about the whole purpose of NFTs. I mean, beyond the "horrible idea, stolen art" stuff. So. I own an NFT. What can I DO with it? Can I sell it to someone else? Can I trade it? Or it is just that you "own" an NFT? With them releasing the images, there isn't even any "perk" to being able to see it, if everyone can see the ones that have been minted. The concept behind Neopets and all unique NFTs seems completely counterintuitive to trading or selling them at a higher price. Like... I know Major League Baseball is playing around with NFTs, but to me, that kind of makes a bit more sense. You have actual teams, and stadiums and players that you can base things off of. And say.... a Fenway Park NFT would be "worth more" than a "LoanDepot Park" (where the Florida Marlins play) NFT. The same with players. NFTs based on good/popular players would be worth more than an unknown player. The same would go for rarity. If there were 100 NFTs of image A (the exact same image) and only 1 of image B, obviously image B would be "worth" more. But with the random, unique pet images with no duplicates (thus they all have equal "rarity", there seems to be NO real value in them. So.... why would I pay you more than you paid for this random image? Or am I hitting the nail on the head on why Neopet NFTs (in particular?) make no sense? Oh bless you, you're thinking NFTs are like Collectible Trading Cards? No no, they're MUCH more stupid and pointless. * What Can You Do With An NFT: Good question. NOTHING! It's just a jpeg. And sometimes not even a jpeg you can use, someone else is using it and you just have an online receipt that says you technically own it. So, what can you do with a receipt that says you own an image online? Well, you can trade it with others, sell it for someone who wants to buy it... and that's it. Yeah, it's 99.9~% just an investment thing where the investment part being you have to hope to find a dope willing to either trade you an NFT some dope actually wants or find a dope who wants to buy your receipt of an image. Now you'll occasionally hear about NFT businesses talking about doing something with the NFTs they're selling like "making a game" or "making a sim". But 99% of the time they're just BSing to get people to buy NFTs and then run off with the money leaving the NFTers with useless images. And those who do make a game, usually it's a cheap-looking flash game (which is usually a clone of a popular game or genre) and nowhere reaches the "hype" that was built around owning that NFT. Oh, did I mention in order to mint NFTs they use a method called blockchain which takes up a tremendous amount of energy which is polluting the planet at an accelerated pace, a planet which is already experiencing massive amounts of climate change ruining thousands/millions of lives and costing millions/billions/trillions of dollars due to lack of foresight by self-interest groups who were just seeking to make a quick buck? * "Rarity": BTW, with NFT, there's no such thing as "100 NFT of image A". ALL NFTs are unique images, hence why they need to be minted. They either have minted a series of images only waiting to have a receipt assigned to someone or they use a randomizer of an array of traits and are minted on demand. Neopets took the latter option, this JN post detailing the traits that were randomized. With enough traits and elements within each trait, you can practically create trillions of combinations, hence assuring each NFT which they only mint a few thousand of is "unique". Now, anyone with two brain cells to rub together can see the obvious flaw in this: if all NFTs are unique, then none of them are "rare" or "better than another". But, somehow, NFTers have found ways to say that one completely unique image is better than another due to some BS system (for example the Neopets NFT uses some kind of calculation to say how "likely" it is for another NFT to have the same traits as another, all of them ending in the .00000000001th digit which at that point calculating rarity it meaningless). I guess for sports NFTs of better players or popular locales gives them "value", but that's not the case with the Neopets NFT. And even for the sports, since no NFT are the same, each player has dozens of cards but each of them slightly different (different background, text, pose, etc.) in order to justify them. You have the same chance of getting a NFT of a good player as a bad player, which is unlike printed cards which purposely print less of a good player and more of a bad player to make the good player cards rarer thus have a higher value. * Hitting The Nail On The Head: Yeah, you pretty much hit it, but extend that to ALL NFTs being worthless. Oh, and not to mention each NFT costs HUNDREDS of dollars to get making this pretty much either another way for the rich to get richer by screwing over everyone (including themselves, or at least their descendants/younger family members who will have to live in a world of climate change) or people looking to launder money. And, oh yes, NFT is filled with criminal activity, scams, hacking, autobuyers, and other dubious acts which makes Mos Eisley look like a pleasant union of cleanliness & kindness.
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Post by Killix on Nov 16, 2021 21:57:03 GMT -5
Okay. So... I'm still confused about the whole purpose of NFTs. I mean, beyond the "horrible idea, stolen art" stuff. So. I own an NFT. What can I DO with it? Can I sell it to someone else? Can I trade it? It's a pyramid scheme economic bubble combo. You're supposed to buy into the idea that you can sell these NFTs to other people for more money than you paid for it.
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Post by Allison on Nov 16, 2021 22:13:42 GMT -5
Okay. So... I'm still confused about the whole purpose of NFTs. I mean, beyond the "horrible idea, stolen art" stuff. So. I own an NFT. What can I DO with it? Can I sell it to someone else? Can I trade it? It's a pyramid scheme economic bubble combo. You're supposed to buy into the idea that you can sell these NFTs to other people for more money than you paid for it. But that's the part I don't get. How can you sell your NFT to someone else if it's just a jpeg/link? I mean, how does someone even "own" it to be able to sell it?? And why would you buy a random jpg in the first place? Like... why does that make ANY sense to ANYONE, and why would anyone buy one for $10, let alone $100?? I'm just totally baffled by this. But I guess I'm supposed to be?
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Post by Killix on Nov 16, 2021 22:36:33 GMT -5
It's a pyramid scheme economic bubble combo. You're supposed to buy into the idea that you can sell these NFTs to other people for more money than you paid for it. But that's the part I don't get. How can you sell your NFT to someone else if it's just a jpeg/link? I mean, how does someone even "own" it to be able to sell it?? And why would you buy a random jpg in the first place? Like... why does that make ANY sense to ANYONE, and why would anyone buy one for $10, let alone $100?? I'm just totally baffled by this. But I guess I'm supposed to be? The "owner" of the NFT is stored as data inside the block chain. When you sell the NFT to someone else, the information of who "owns" the NFT is updated. (I don't know the specifics, but it's probably done from within whichever platform you used to purchase the NFT.) Like I said, you're supposed to buy into the idea that NFTs are valuable as something to sell to other people and fear missing out on the potential to make big money off reselling. (These buyers are typically already into Cryptocurrency stuff.) It's sad, but these kinds of scams work on a lot of desperate people. It's like how adults with no interest in plush toys bought Beanie Babies for thousands of dollars in the midst of the Beanie Baby Bubble - they had bought into the hype of those items being incredibly valuable for resale. :P The only major difference with this is that Beanie Babies had intrinsic value as physical objects existing in the real world... meaning that when you bought a cute cat plushie, you were left owning... a cute cat plushie, and not a link to a digital receipt that someone cut down a rain forest to create. :P
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Post by Blueysicle on Nov 16, 2021 23:01:40 GMT -5
Plus, as I understand it, if the service storing the NFTs goes down, the NFTs themselves go bye-bye too. So there's always the chance that the hideous JPEG you bought vanishes into thin air and the thousands of dollars you spent on it goes to complete waste. At least Beanie Babies (And Pokemon cards, as I made the comparison a while back) can be enjoyed and admired for as long as you wish and won't burst into flames the instant they cease production.
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Post by doctortomoe on Nov 17, 2021 5:40:27 GMT -5
It's like a pyramid scheme, or one of those services that let you name a star in the sky or something, or people who sell books that are like 'give me 10,000 dollars and i'll put your name in this book of important people'
Only each time someone does this, it burns down an unspecified amount of the Amazon Rainforest.
The sad thing is, NFT's were almost beat, until corporations and capitalism got their sights on it, and were like 'we're all on on this!'
Because of course they are, it's a scam where idiots give them money and they have to do nothing. Money for nothing and clicks for free.
But that's off-topic.
There's a tumblr post about it, that i'm gonna copy-paste here, that best describes it:
imagine if you went up to the mona lisa and you were like "i'd like to own this" and someone nearby went "give me 65 million dollars and i'll burn down an unspecified amount of the amazon rainforest in order to give you this receipt of purchase" so you paid them and they went "here's your receipt, thank you for your purchase" and went to an unmarked supply closet in the back of the museum and posted a handmade label inside it behind the brooms that said "mona lisa currently owned by jacobgalapagos" so if anyone wants to know who owns it they'd have to find this specific closet in this specific hallway and look behind the correct brooms. and you went "can i take the mona lisa home now?" and they went "oh god no are you stupid? you only bought the receipt that says you own it, you didn't actually buy the mona lisa itself, you can't take the real mona lisa you idiot. you CAN take this though." and gave you the replica print in a cardboard tube that's sold in the gift shop. also the person selling you the receipt of purchase has at no point in time ever owned the mona lisa.
unfortunately, if this doesn't really make sense or seem like any logical person would be happy about this exchange, then you've understood it perfectly
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Post by Carolyn on Nov 17, 2021 13:52:22 GMT -5
And unfortunately, a vast majority of the supporters are nostalgic people who have in mind that Neopets is a goldmine and that having a digital receipt of Neopets art is going to turn them a huge monetary profit. Which it won't. Because almost none of the actual playerbase buy into the idea or support it. It's predatory, pointless, and a complete waste of money and resources.
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Post by Allison on Nov 17, 2021 19:58:50 GMT -5
So then it really is as pointless as I originally thought it was. I figured I MUST be missing something that would make it attractive to people, or at least a certain niche of people who didn't care about stolen artwork and the like. But... no. I'm not, and I'm just going to have to deal with the fact that I just can't wrap my brain around this concept, because it's as crazy/senseless/pointless as my brain first understood it to be. My brain REALLY likes to try to understand things, and I'm just going to have to try to tell it to calm down with this, because I'll hurt myself trying to understand it anymore than I already do.
TL;DR: Thank you for confirming that I'm not just dense.
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Post by Holly on Nov 19, 2021 11:55:41 GMT -5
So NetDragon put out a press release saying that Metaverse was a complete success (claiming that Neopets players were VERY interested) and they're going to continue investing in crypto. What do we even do from here? It's clear that protesting isn't working, Neopets might just be dead at this point
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Post by Ian Wolf-Park on Nov 19, 2021 16:14:22 GMT -5
So NetDragon put out a press release saying that Metaverse was a complete success (claiming that Neopets players were VERY interested) and they're going to continue investing in crypto. What do we even do from here? It's clear that protesting isn't working, Neopets might just be dead at this point Well, upper management is completely tone-deaf with that statement. No, Neo players were not interested in buying NFTs, they were interested in the project failing, and the playerbase was venomously opposed to it, if the fansite blackout lead by JN was any indication.
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Post by doctortomoe on Nov 19, 2021 17:09:16 GMT -5
You ever miss the days of Viacom? Netdragon seems like the worst owners yet
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Post by Blueysicle on Nov 19, 2021 18:55:28 GMT -5
I feel like what I said earlier applies to that press release:
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