Is there an IPO phase where someone buys it for a relatively small (but still insane) sum, and then increasingly stupid people buy it for increasingly higher prices?
Or am I really supposed to believe that someone got paid a couple tens of millions of dollars to produce this?
I just don’t understand
its just a ponzi. This could very well be a insider trade as we don’t know who the wallet belongs to. You and I could just make a deal where I pay for your NFT for X amount. Now I will buy your NFT, the transaction goes on the blockchain confirming that someone paid 29 mill for this specific NFT “ART”? Since the transaction is immutable the next sucker sees that it sold for 29 mill and now that is the base price that will be sold off to the next sucker.
Sure, that all makes sense
I guess it’s just funny for me to trace the mind of someone who thinks any of this could have any legitimacy at all, what sorts of things they would necessarily also have to believe
Imagining this is the first sale is incredibly funny, and it’s also funny to imagine that it was “bid” or “traded” up to this price (in the latter case: did some incredibly brazen and imaginary person just drop the hammer and increase the price by $10M, or do so many imaginary people want it that the price has been steadily climbing?).
It’s just a trip to wander the grounds of these mind palaces
Dunno what’s worse, this or the fact that someone apparently spent around 11 or 12 million on this before
It’s gonna turn out 70% of our GDP gains this year were NFTs.
If I was a crypto scam guy, i would buy a bunch of cheap nfts, then buy one for 23 million dollars if some other crypto scam guys agreed to buy a few of mine for a total of 23 million dollars
Oh look none of us spent any money but now a bunch of the worlds biggest losers want to invest
