The recipient doesn’t actually have that money yet. If they try to sell 5.7 billion worth of $SHIB the price will do a Space Shuttle Columbia. It’s worth a ton of money but there is no way you can realize anything like 5.7 billion on that.
Edit: Although looking at the market cap and trading volume, you could get several billion from it, probably.
How is the market cap of this thing $31 billion? That’s $100 for every man, woman and child in the United States. Bizarre.
i know it’s a stupid word to use, but i just find this immoral. apes selling for 5m dollars, a parody of a joke coin is worth 31 billion dollars. i’m sure you can butwhatabout some fiat stuff and wall street bullshit and sure, but it’s still awful
What the fuck are apes?
lmao oh yeah it’s horrific. and the electricity cost of the blockchain mining just burning all this coal for nonsense lol tough not to laugh tho
What the fuck is this shit?
and ya i’m very clearly a boomer who’s ngmi
are you really unaware of nfts at this point?
we got a front row seat for the collapse of late stage capitalism right now. shib gonna be worth more than the usa by friday night
I know of them, but I dont fucking get it.
So thats number 8500 of 10000, right? But its just a copy of an online piece of art, right? Like, somebody created this and used the MS paint fill tool to make the fur gold on 100 of the 10000, and now its somehow worth millions?
Fucking why? It doesnt make any fucking sense. Can I create something with 10000 identical copies except for one that has a digital cum stain and that will net me 800 million?
I dont fucking get it
“u mean to tell me this jackson pollock didn’t even use a BRUSH?? and it’s worth HOW MUCH??”
“my kid could paint that!”
But its not just art right? See the meatspin example above? Is making a gif of Jordan dunking at an all star game worth millions now?
i mean dude you have to realize at this point we heard these arguments, right?
there’s a full discord of UPers who are billionaires now from buying jpegs.
Millions of dollars have been made off NFTs just between UP members. Yes it is absurd but isn’t everything these days? Fighting these trends almost never works out. Look at TSLA for example.
Also at least 4 UP people have BAYC apes that I know of lol.
Wait what?
Also, im not even trying to buck the trend, im just trying to understand it
fwiw i find the beetlejuice type arguments to be more on the stupid side and easily refutable for the most parts. monetary wise he’s a genius, same as the dude who bought all shibs with his doge winnings. it doesn’t make the arguments any better, just makes them rich and me poor.
serious answer there are plenty of low effort projects from nobodies that get no attention and make zero money. same as there are middling/bad artists who make art and don’t make a living out of it.
if picasso painted a single dot on a canvas and said it’s meaningful, i think enough picasso art fans out there would have it mean something to them and it might spread out into the culture if it hits at the right time for the public’s sensibilities
and nfts aren’t limited to artworks, nfts could be a club pass or a concert ticket, it’s like there are tons of pieces of paper on file at the county clerk’s office and they mean different things. just standing or building on land doesn’t mean you own it, you own it because your piece of paper is filed properly in the clerk’s office. so it’s not a new concept but it’s a new application, a decentralized internet
I mean is it really any more or less silly than the poker boom? I’d argue NFTs probably make more sense and are more fun. Also people love gambling and the NFT world is a supercharged version of a casino.