Edit: I just checked on the community for the first time in a few years and they are still thinking this will happen. If you ever want a story about how irrational and dumb money can make groups of people in the context of stocks, look no further than the story of Gamestop.
He really knows how to dig into a topic and go deep, and for all of the length it never feels over-long... it feels detailed. His breakdown of flat-Earthers and QANON was also genuinely stunning. His closing monologue, which is admittedly more powerful in the context of having watched the thing, is incredible.
> "Because ultimately it's not about facts, it's about power. QANONs are not otherwise empty vessels who believe one whacky thing, they have an agenda. QANON; what it accepts, what it believes, is driven by the outcomes it justifies. The reason they aren’t more bothered by Q constantly getting things wrong, why they aren’t more bothered by the extreme inconsistencies and outright contradictions, by the claims that are just materially wrong, is because it gives them power over others who are bound by something as weak and flimsy as reality. They claim to be against corruption while hanging their hopes on an openly corrupt man, and that naked hypocrisy is the point."
> "They will effortlessly carve out an exception because it makes them exceptional. They engage in wild hypocrisy as an act of domination, adhering to something demonstrably untrue out of spite, because they believe that power belongs to those with the greatest will to take it; and what greater sign of will than the ability to override truth? Their will is a hammer that they are using to beat reality itself into a shape of their choosing; a simple world where reality is exactly what it looks like through their eyes; devoid of complexity, devoid of change, where they are right and their enemies are silent. They are trying to build a flat Earth."
The beginning of the end might’ve been before that marketplace even opened up.
Remember that time Seth Green was going to make an NFT show, but then the “star” NFT was stolen and Seth had to pay hundreds of thousands of dollars to get it back, and then the show ended up not happening anyway?
Why is there zero information about that on Seth Green’s Wikipedia page?
I'm convinced history ended in 2020 and that we're just stuck in an unending loop of purgatory at this point, where everything blends together and nothing is real and nothing matters anymore. Money is fake, prices are fake, people are fake, nations and borders are fake. It's all just coasting on inertia into oblivion.
It's just the end of the end. NFTs are off to join SPACs and ICOs and every other kind of hellish scam we've been subject to over the last decade due to complete lack of regulatory power and oversight in the securities market.
Since this is also about GameStop specifically, his "This is financial advice" video addresses the GameStop cult, and to a lesser extent the bizarre cult around GameStop CEO Ryan Cohen, really well: https://www.youtube.com/watch?v=5pYeoZaoWrA
Also, cue some apes/NFT investors coming in to ask "why do you care about my money?" and other oft-repeated talking points.
Facebook and Instagram both killed their NFT features a while back, and even Twitter got rid of NFT profile pictures recently.
It continues to amuse me that the most iconic set of NFTs were so aptly named: Bored Apes. That's exactly what the owners were, just a bunch of bored people with too much money.
I remember going through reddit comments at launch of this, there were hordes of people all hailing it saying it would be worth hundreds of billions. It was so bizarre like watching a utterly brainwashed cult.
I have land on Sandbox game. Which didn't cost a lot when I bought it initially (like $80) and is still worth much more than initially paid while the game is slowly still majoring. Could have sold them for 15k each in the NFT hype but I rather build my imperium in their universe one day :)
Current market value is at ~$600 and it's a playable game with actual users getting regular updates. It's more or less the maximal value of all NFTs I can remember right now.
People get really pissy about my $160 investment here. No, the land is still there, the game still in active development. People spend $100 on AAA games and $500 on Kickstarter early access bullshit but me owning a bit land in an actually playable game is weird ..
Why would I be pissed about your "investment"? I earned * 9 with crypto, when I sold end of 2017. I'm at peace with that ( selling in that periods high) and shifted to stocks.
I'm just pointing out that NFT's, in a lot of cases, just point to an image on a website...
Why are you upset about that?
If you wanted me to be more specific, you didn't give me any details.
Now that you did...
How long did you have that "land" and what's it worth now?
Edit: I just checked on the community for the first time in a few years and they are still thinking this will happen. If you ever want a story about how irrational and dumb money can make groups of people in the context of stocks, look no further than the story of Gamestop.