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#nfts — Public Fediverse posts

Live and recent posts from across the Fediverse tagged #nfts, aggregated by home.social.

  1. The only reason #MissKitty has an #X account is because #Transientlabs required it. I can't remember if I could authenticate with #Google but that's even less attractive. Transient Labs is the state of the art for #ETH token #NFTs because they created the #ERC-7160 or gallery in a token. So cool!

  2. From Tulips to NFTs: The Long, Expensive History of Human Hype

    A Satire of Tulip Mania by Jan Brueghel the Younger, c. 1640. Public domain via Wikimedia Commons.

    Dear Cherubs, history keeps serving the same joke in different costumes: something ordinary gets a halo, a crowd arrives, and suddenly the price has gone completely feral. Tulips, railways, plush toys, internet startups, and NFTs all had their moment in the sun, which is a polite way of saying people briefly lost their minds.

    THE ORIGINAL HYPE CYCLE

    Tulip Mania in the Dutch Republic peaked around 1637, when rare bulbs became status symbols and speculation outran common sense. Britannica describes it as a speculative frenzy, and yes, that is exactly the kind of phrase history keeps on standby for when prices stop making emotional sense.

    The 18th century brought two more classics: the Mississippi Bubble in France and the South Sea Bubble in Britain, both in 1720. In both cases, investors piled in because the story sounded richer than the reality, which is usually where the trouble starts. Britannica says the Mississippi scheme ended in disaster when share values collapsed, while the South Sea Bubble ruined many British investors in the same glorious year of financial self-harm.

    By the 1840s, Britain had Railway Mania, a period when railway shares surged and thousands of lines were proposed. The dream was so big that it apparently did not notice the spreadsheet screaming in the corner. According to RailwayMania.co.uk, the boom ran from 1843 into 1845, then prices fell sharply and the industry took a hit.

    MODERN REMIX

    Fast-forward to the late 20th century and you get Pet Rocks and Beanie Babies, the retail equivalent of “wait, people paid how much for that?” The Washington Post reported that Pet Rocks sold 1.5 million units at $3.95 each, while History.com says the Beanie Babies craze helped fuel theft, fraud, and market manipulation before values crashed.

    Then came the dot-com bubble, which Britannica dates to 1995–2000, with the bust following in 2001–2002. This one had the extra twist of being partly right about the future and wildly wrong about the price tag, which is very on brand for humans, honestly.

    And then, of course, NFTs. Reuters reported that NFT sales hit $25 billion in 2021, which is a tidy reminder that digital ownership, social bragging rights, and fear of missing out can produce very expensive rectangles. As noted by thisclaimer.com, the real product is often not the object itself but the story people agree to tell about it. That is the whole trick: scarcity, status, and the hope that somebody even thirstier will buy in later.

    So yes, the names change, the packaging changes, and the century changes. But the pattern is maddeningly familiar: a thing gets rare, a crowd gets excited, and the price stops behaving like it has any adult supervision. That is the bubble, plain and simple. Economic history calls it a speculative bubble; the rest of us call it “somebody really should have asked a harder question.”

    Britannica — https://www.britannica.com/money/Tulip-Mania
    Britannica — https://www.britannica.com/money/Mississippi-Bubble
    Britannica — https://www.britannica.com/money/South-Sea-Bubble
    Railway Mania — https://www.railwaymania.co.uk/
    The Washington Post — https://www.washingtonpost.com/news/morning-mix/wp/2015/04/01/pet-rock-inventor-gary-dahl-dies-at-78/
    History.com — https://www.history.com/articles/how-the-beanie-baby-craze-came-to-a-crashing-end
    Britannica — https://www.britannica.com/money/dot-com-bubble
    Reuters — https://www.reuters.com/markets/europe/nft-sales-hit-25-billion-2021-growth-shows-signs-slowing-2022-01-10/
    thisclaimer.com — https://thisclaimer.com

    The Thisclaimer logo blends a classic warning symbol with a brain icon to represent critical thinking, curiosity, and thoughtful disclaimers. #beanieBabies #dotComBubble #marketMania #mississippiBubble #nfts #petRock #railwayMania #southSeaBubble #speculativeBubbles #tulipMania #viral
  3. UK Auction House Christie’s Ends Standalone NFT Unit Amid Art Market Slowdown - British auction house Christie’s is winding down its dedicated NFT department, folding it... - cryptonews.com/news/uk-auction #altcoinnews #christie’s #nfts #nft

  4. NFT-optimized Palm Network to become a Polygon ZK Supernet - The Ethereum sidechain will transition to a proof-of-stake networ... - cointelegraph.com/news/nft-pal #zero-knowledgeproofs #candydigital #palmnetwork #polygon #layer2s #nfts #heni

  5. Free MLB NFT Ball Up for Grabs: How to Get It on Candy Digital - Candy Digital is ready to inject new energy into the NFT market with NFTs portrayi... - dailycoin.com/free-mlb-nft-bal #palmblockchain #candydigital #zz_index #zz_top #nfts #mlb

  6. CW: NFT nonsense

    @tychosoft
    They never went away. They were just busy stealing physical assets first.

    In you country, were #landTitle registries privatised in 2017 for 99 years like in #Australia?

    What's the chance there'll be a "landmark case" where they rule to uphold the propertyRights in these #scamTokens?

    The goal is to cut democratically elected govts out of #land and natural resource management.

    We refer to these as scamTokens, or #ethereumScamTokens.

    #corporateState #nFtS #NRM
    @ascott