Grimes and A$AP Rocky NFTs fall, leaving buyers with losses

[Teletubby 150,210]

Celebrities like the musician Grimes have been quick to cash in on nonfungible tokens (NFTs), making millions from minting collections of their own digital art.

For buyers, however, the payoff has been far less rewarding.

Consider “Earth” -- one of several NFTs issued by Grimes in February. Depicting a cherub spearing the globe, it was part of a collection that netted the artist about $5.8 million after selling out in 20 minutes.

While the cost to originally own one of the 303 limited editions was $7,500, one unit recently resold for just $1,200 in a stunning 84% drop.

Likewise, a piece rapper A$AP Rocky sold for $2,000, showing him spinning around in space, in April just traded for about $900.

The list goes on....

source

[alsemanche 93,932]

Good. Maybe they'll stop with this idiocy. 

[weed 73,974]

Lmao ughhh I need to make some NFTs and sell them bc these hoes buy anything

[Blastertoyo 22,728]

Literally never understood why people would spend thousands upon millions on things that have no intrinsic value 

it’s like beanie babies all over again 

“buy this cuz it’ll be worth a lot in the future”

[Dojo 19,369]

[Neroneau 1,017]

People paying millions in NFT must be (imo) just buying it themselves to create movement and value.. there was a word for that and I can’t find it on Google 

[COOOK 76,406]

There're buyers for absolutely everything. Humans really are something.