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NFTs Are Here To Ruin Dungeons & Dragons
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<blockquote data-quote="Snarf Zagyg" data-source="post: 8600471" data-attributes="member: 7023840"><p>So here's the thing- it's the perfect storm of greed.</p><p></p><p>If you're a company, why not? I mean, there is a possibility of a hit to your reputation, but ... otherwise, it's practically free money.</p><p></p><p>If you're a cryptobro, this is exactly what you want- every announcement like this legitimizes the whole enterprise. It's like when you go back a few years, and they were constantly pushing out stories about how bitcoin would be accepted at all these places in the third world (when it wasn't) or putting the stickers everywhere or getting companies to accept it - you remember the announcements, and then never notice when, later, it turns out that it isn't real, or that the company no longer can accept bitcoin because it never really functioned as a viable currency. It appeared to be a currency alternative, when it was always a speculative investment that facilitated black-market transactions and money laundering.</p><p></p><p>Same here, but worse- NFTs are a sucker's game. Some people will make money from it. Because the hope is always that there will be a bigger sucker. Eventually, however, there won't. And that's when the edifice comes crashing down; until then, you just have to keep expanding the pool of suckers. </p><p></p><p>So we will keep hearing about companies that enter into NFT, and we won't hear about all the many many failures that happen even more often. The most recent analysis shows that of all NFT offerings, 1/3 have no value (are expired), and 1/3 trade at less than the amount to mint them (are underwater). And this isn't taking into account the fact that the remaining 1/3 are often self-traded ... nor the long-term failure rate after the hype! And the common retort .... is that failures are due to "poor marketing." Ahem.</p><p></p><p>Look, people can blow their money in all sorts of ways. But responsible companies shouldn't be assisting in it.</p></blockquote><p></p>
[QUOTE="Snarf Zagyg, post: 8600471, member: 7023840"] So here's the thing- it's the perfect storm of greed. If you're a company, why not? I mean, there is a possibility of a hit to your reputation, but ... otherwise, it's practically free money. If you're a cryptobro, this is exactly what you want- every announcement like this legitimizes the whole enterprise. It's like when you go back a few years, and they were constantly pushing out stories about how bitcoin would be accepted at all these places in the third world (when it wasn't) or putting the stickers everywhere or getting companies to accept it - you remember the announcements, and then never notice when, later, it turns out that it isn't real, or that the company no longer can accept bitcoin because it never really functioned as a viable currency. It appeared to be a currency alternative, when it was always a speculative investment that facilitated black-market transactions and money laundering. Same here, but worse- NFTs are a sucker's game. Some people will make money from it. Because the hope is always that there will be a bigger sucker. Eventually, however, there won't. And that's when the edifice comes crashing down; until then, you just have to keep expanding the pool of suckers. So we will keep hearing about companies that enter into NFT, and we won't hear about all the many many failures that happen even more often. The most recent analysis shows that of all NFT offerings, 1/3 have no value (are expired), and 1/3 trade at less than the amount to mint them (are underwater). And this isn't taking into account the fact that the remaining 1/3 are often self-traded ... nor the long-term failure rate after the hype! And the common retort .... is that failures are due to "poor marketing." Ahem. Look, people can blow their money in all sorts of ways. But responsible companies shouldn't be assisting in it. [/QUOTE]
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