I'm just hoping the harder and faster all these artists are jumping on the bandwagon, the quicker all this NFT stuff will just implode.

Disclaimer: if your reading this in 10 years time, I could be wrong 😉

the world of digital investing is quite nuts. it will surprise all.

just to add that based on many factors i'm not surprised many of the people who are into digital dont hang out on a fusty website like this (no offence). They are busy chatting on socials. Infact websites in general dont matter to many of them.

This is the stupidest concept I have ever heard of, and I remember Boris promising to dig a tunnel under the water from Scotland to Northern Ireland via a WW2 arms dump. These may well flip for ten times within a couple of minutes, but it doesn't mean it's art, any more than a pump and dump scam on penny stocks is. Feels utterly cynical, and so perfect for the UK in 2021. 4:30 PM and already I need a drink.

No one is buying though...my guess is the price rise is to make the open edition look cheap when they launch at $1K

i would tend to agree, but with these things you don't want another £40 signed banksy situation.

edit: if this was banksy people would be shiteing their underpants
so maybe thats the issue - the artist

yeah but thats not who hes aiming for. none of this lot want physical things

^^^This^^^ 😄 

made me think of this 
15 Most Expensive In-Game Items Ever Sold For Real Money

overloaded? 
I guess they are not prepered for the real experts in F5-ing

oof

I can see a lot of similarities in what we collect here and NFTs... except at least most of us have some intention of keeping and looking at the things we buy. Maybe framing them, etc.

But this seems like purely buying for the sake of reselling and possible profit (probably appeals to the crossover sneaker/art flippers to take the hassle of physical items out of the equation!).
But then who's buying at the secondary prices? That's the really confusing part for me.

I still don’t get it how and why they’re gonna sell these for 10K each...

With so much of his “real” work sitting in galleries collecting dust.. why would collectors wanna spend this type of money on these??

I've been tracking the markets pretty closely and these $10k editions of 5 are going to be total duds. They're going to all be picked up by a combo of well heeled folks who will just add to the collection and newbie idiots who thing they'll flip fo $20k a piece. They won't. They need to sell for nearly $12k for seller to net out the $10k cost. The buyers will be fortunate to break even.

Greg Mike dropped 450 pieces last night at $2k each. They're already selling at a $700 loss after fees.

There are some releases that are doing really well but you've got to be able to pick the winners.

whos greg mike

These should be free. Not buying this NFT stuff at all. $10kusd?? Lol.