this post was submitted on 10 Jan 2024
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Technology

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[–] TimeSquirrel@kbin.social 125 points 2 years ago (4 children)

This had to be the most short-lived tech trend I've ever seen in my 41 years. Tamagotchi lasted longer in its heyday.

[–] Bonehead@kbin.social 99 points 2 years ago (1 children)

To be fair, Tamagotchi provided more value than NFTs ever could.

[–] MysticKetchup@lemmy.world 26 points 2 years ago

And Tamagotchis weren't ugly as sin either!

[–] porksoda@lemmy.world 7 points 2 years ago (2 children)

Same. I'm getting to the age where I say "I don't get it" when it comes to a lot of popular things these days. I said it loudly about NFTs, glad to see I didn't misunderstand it.

[–] Fisk400@feddit.nu 6 points 2 years ago

Someone mentioned in a video about crypto that the boom in nfts coincided with new tax rules for art that made it harder for millionaires to store/hide their money in it and avoid tax.

That's when it all clicked for me.

[–] beebarfbadger@lemmy.world 2 points 2 years ago

What's not to get? You convince the more gullible to put money into it, when enough people have fallen for it, you grab and run. Really nothing new.

[–] SeedyOne@lemm.ee 6 points 2 years ago* (last edited 2 years ago) (5 children)

And yet crypto is back up again for some dumb reason. Are we sure NFTs are truly dead or are we going to see that grift in a new form soon? One can only hope it's the former.

[–] TimeSquirrel@kbin.social 18 points 2 years ago* (last edited 2 years ago)

NFT as ape pics are dead, yes. But crypto as a form of value exchange for transactions where you don't want too many eyes looking at it has not stopped since its invention in 2008. It's just going to become a normal staple of the internet, like Bittorrent and VPNs, just existing and being used without anybody really caring too much about the technology itself. I still use it to pay for some online services where I basically just want to hand them the internet equivalent of a wad of cash without giving anyone any account details of any kind. I've been doing that since 2013, the NFT thing just kinda came and went and I didn't care too much about it.

[–] joshhsoj1902@lemmy.ca 7 points 2 years ago (1 children)

Keep in mind that buying photos isn't the only application of NFTs. People stopped buying valueless photos, but other implementations of NFTs kept on being used.

[–] squiblet@kbin.social 2 points 2 years ago

Right… the technology conceivably has value as a way to digitally trade ownership and track authenticity. It just happens that it was used for a bunch of truly worthless algorithmically generated art that people got suckered into by hype.

[–] ililiililiililiilili@lemm.ee 3 points 2 years ago

NFTs came about due to collectable communities trying to capitalize off cryptocurrency (think baseball cards, shoes, Funko Pops, etc). NFTs were doomed from their inception because they attempt to give limitless data artificial scarcity.

[–] caoimhinr@lemmy.world 1 points 2 years ago

Crypto is up because the SEC greenlit crypto ETFs being traded on the stock market.

[–] s_s@lemmy.one 0 points 2 years ago

That dumb reason is Tether printing new phoney-bucks.

[–] merc@sh.itjust.works 122 points 2 years ago (1 children)

That was one feature that was actually useful. Immediately you knew if you should just block someone and move on.

[–] AaronMaria@lemmy.ml 46 points 2 years ago (1 children)

Had us in the first half, not gonna lie.

[–] stackPeek@lemmy.world 14 points 2 years ago

in a way, blue checkmark is a useful feature too.

[–] deegeese@sopuli.xyz 82 points 2 years ago

Continuing removal of all features not related to showing ads alongside Nazis.

[–] handhookcardoor@lemmy.world 44 points 2 years ago

Even a broken clock, eh?

[–] MargotRobbie@lemmy.world 38 points 2 years ago

I would imagine the sheer embarrassment of having an really ugly monkey NFT profile picture is enough of an incentive.

Credit to where credit is due, good for X Formerly Known as Twitter, though this is mostly because Musk only used crypto as a grift, whereas Jack Dorsey is a True Believer in crypto.

[–] Album@lemmy.ca 37 points 2 years ago

The value of your NFT just went from .02 to .0002

[–] Pxtl@lemmy.ca 28 points 2 years ago (1 children)

Even Twitter agrees, NFT stands for No Fuckin' Thanks.

[–] MimicJar@lemmy.world 13 points 2 years ago (1 children)

Assuming Twitter survives long enough, it'll get added back but tied to a Musk-backed currency.

[–] ChunkMcHorkle@lemmy.world 2 points 2 years ago

Company scrip

[–] squirrel@lemmy.blahaj.zone 18 points 2 years ago

Now Elon has lost the crucial support of NFT bros. All five of them!

[–] Nobody@lemmy.world 13 points 2 years ago (2 children)

While the value of some of the high-priced tokens such as the Bored Ape Yacht Club (BAYC) has plummeted from its peak, the NFT market has shown a sign of recovery in the last few months with trade volumes exceeding $1.6 billion according to NFT aggregator CryptoSlam.

Who is still falling for this scam? Even Xitter is Xitting on NFTs at this point, and morons are still buying them.

[–] ugjka@lemmy.world 7 points 2 years ago

Err, isn't it just mostly criminals doing various criminal schemes using NFTs as a tool?

[–] pup_atlas@pawb.social 2 points 1 year ago

It was never a scam, it was always a successful money laundering operation for the rich while covid had all the real galleries closed. It did exactly what it said on the tin. It’s just unfortunate that some people thought it was a real economy to begin with. Either way, good riddance.

[–] can@sh.itjust.works 10 points 2 years ago (2 children)

Does reddit still have 'em?

[–] kittenzrulz123@lemmy.world 15 points 2 years ago* (last edited 2 years ago) (1 children)

I wouldn't know, neither does anyone else here

[–] can@sh.itjust.works 10 points 2 years ago (2 children)

I'm not sure everyone here went as full cold turkey like you and me.

[–] JigglypuffSeenFromAbove@lemmy.world 6 points 2 years ago (2 children)

I'm only there because my third party app still works. The minute it stops, I'm out.

[–] stackPeek@lemmy.world 6 points 2 years ago* (last edited 2 years ago)

Me too--Boost for reddit still works, and that's the reason you'll see two Boost icon in my app drawer haha. Starting to think about quitting permanently though, the amount of spam/karma bots are increasing since APIpocalypse, it starts to lost the fun. The fact this year is an election year both in my country and in USA doesn't help either...

[–] can@sh.itjust.works 5 points 2 years ago* (last edited 2 years ago)

I tried patching Sync a few times way back but kept failing.

Edit: actually, I got curious and tried again now and it worked. I probably messed up the text file before. I'm still not going to contribute there but now the odd google search result will be more comfortable.

[–] Octopus1348@lemy.lol 2 points 2 years ago
[–] SilentStorms@lemmy.dbzer0.com 2 points 2 years ago

Yeah, they definitely do.

[–] kittenzrulz123@lemmy.world 6 points 2 years ago

Finally a good thing to remove

[–] Paradox@lemdro.id 6 points 2 years ago

Best thing Elon has ever done right here

[–] NickwithaC@lemmy.world 4 points 2 years ago