this post was submitted on 17 Aug 2023
1044 points (98.3% liked)

Leopards Ate My Face

7058 readers
10 users here now

Rules:

  1. The mods are fallible; if you've been banned or had a post/comment removed, please appeal.
  2. Off-topic posts will be removed. If you don't know what "Leopards ate my Face" is, try reading this post.
  3. If the reason your post meets Rule 1 isn't in the source, you must add a source in the post body (not the comments) to explain this.
  4. Posts should use high-quality sources, and posts about an article should have the same headline as that article. You may edit your post if the source changes the headline. For a rough idea, check out this list.
  5. For accessibility reasons, an image of text must either have alt text or a transcription in the post body.
  6. Reposts within 1 year or the Top 100 of all time are subject to removal.
  7. This is not exclusively a US politics community. You're encouraged to post stories about anyone from any place in the world at any point in history as long as you meet the other rules.
  8. All Lemmy.World Terms of Service apply.

Also feel free to check out !leopardsatemyface@lemm.ee (also active).

Icon credit C. Brück on Wikimedia Commons.

founded 2 years ago
MODERATORS
TheTechnician27@lemmy.world
418_im_a_teapot@lemmy.world
1044
Purchasers of worthless digital monkeys sue worthless digital monkey auction house after realizing that worthless digital monkeys are worthless (arstechnica.com)
submitted 2 years ago* (last edited 2 years ago) by LeanFemurs@lemmy.world to c/leopardsatemyface@lemmy.world
105 comments fedilink hide all child comments
 

The Sotheby's auction house has been named as a defendant in a lawsuit filed by investors who regret buying Bored Ape Yacht Club NFTs that sold for highly inflated prices during the NFT craze in 2021.

you are viewing a single comment's thread
view the rest of the comments
[–] FrankFrankson@lemmy.world 0 points 2 years ago* (last edited 2 years ago)

All an NFT does is cause somebody’s GPU to spin up and generate carbon emissions associated with the same literal string of zeros and ones that accompanies every other copy of the print. It doesn’t represent any additional attention on the part of the creator. It’s just a substandard copy that comes with excess waste.

None of that is true. You don't need a GPU to spin up to do anything. You are conflating mining crypto currency with NFTs. A NFT is just a cryptographic signature kept on some sort of blockchain that is associated with an image or file or unique pointer. You can use a preexisting blockchain or even make your own. Blockchains don't have to be mineable and blockchains themselves are actually a good idea.... mineable crypto currency is just a really shitty use case for them. It has nothing to do with mining and is just another form of cryptographic signature.

Edit: The fact that you think a physical signature has value while a unique digital signature (yes.. the signature is unique) has none is personal preference and once again not the point I am making. I am saying it is a type of signature and some collectors might find value in it.