Bitcoin / Bitcoins / Crypto Currency

One of my former colleagues is just about to launch an NFT project. Its for Life is Porno, a Czech fashion brand. For some reason the project is called Rumpel Crew. I can't figure out what exactly they are selling or why literally thousands of people are interested in buying what they are selling.

I'm a dinosaur in my own industry.

https://twitter.com/rumpelcrew

TBH, I also don't know why people pay £00s or even £000s for a Life is Porno baseball cap...so maybe it really is just because i'm a dinosaur in life, rather than a crypto dinosaur.

No, you're not alone in wondering wtaf is wrong with people.

lol

agreed

Money laundering.

probably....

See also SUPREME.

I believe NFTs work purely on the greed of man.

It's just beanie babies for the digital native isn't it?

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I personally think they are a farce, but folk are making quick bank off them thats for sure. I think its also got massive money launder potential and also its inviting people with too much money into these exclusive clubs (Bored Ape) for example that they might not be able to get into that circle usually but then again I dont know how much access its actually giving them.

I think some people are laugh all the way tenth bank tho

Surely a win up.

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Jesus. .3 for that shite folk must be losing there minds

Guess this is a tough crowd.

Reading through that twitter stream reminds me of Nathan Barley for some reason

I guess this was in response to the photos of coffee shops? For what, like $300? This is exactly what’s getting me. How the *#$¥ is $300 for a non fungible jpeg of a €^%>ing coffee shop an attractive offer?

Could you imagine someone in the real world trying to sell you the same thing for the same price? It’s just laughable.

Greed/Hype/Supreme/1% club I completely agree is probably the case with the apes and stuff. I can understand this a bit more with regards sheer ego boosting. But a photo of a coffee shop???

Mind blowing

I’m sure my wife would totally love it if I bought one of those hats

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But a photo of a coffee shop???

How about a vintage camera you'll never use to take a photo?

Or a toy in it's box that you can't play with?

To me it's just collectables being collectables.

(Cue all the people jumping in to explain why their piece of old mass produced furniture/watch with a brand name and an inflated value is a rational collectable.)

Or some mushed paint on a canvas

My only challenge is that I get its a one off, but it's a one off in an infinite series of one offs.

(also,a limited watch series is hoax...)

Look, I don't disagree with the fact that it's largely bollocks and blatantly another mechanism for money laundering.

My guess is that like regular art the huge values are manipulated.

Overall though I think there is a lot of trying to rationalise the value of something that is just as irrational as almost every other similar asset.

Edit: obvs I get the value of authenticity

I have no cameras I don’t use.
I have no toys in boxes.
I like trainers, which I wear.
I like bikes, which I use.
I like real art, which I can appreciate on my wall.

Maybe if I built a metaverse gallery I would value NFTs because without them my metagallery would have bare walls.

I know. I’m old. I get it.

I mean, I’m 36 with kids which definitely puts me in the old and irrelevant box.

Maybe I just wanted a rant because (besides overt narcissism) it’s the first thing which has really made me feel out of touch and old.

Maybe I want to understand it so I can get in on it, but the only way I’ve bought real art and made a return is if I love it anyway, so if the value plummeted I’d be stuck with something I love.

I just can’t see a worthless NFT I spent £500 on keeping me satisfied as a JPEG which I own.