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(Trust.org)   The NFT art market is plagued by "mind-blowing" fraud. Someone fetch me my NFT of a fainting couch   (news.trust.org) divider line
    More: Obvious, Art, Thomson Reuters, NFT market, Reuters, Arts, digital art world, Howard's work, NFTs help  
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527 clicks; posted to Business » on 19 Jan 2022 at 9:35 AM (17 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



32 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-01-19 7:38:53 AM  
I once heard someone describe NFTs like this: "You are paying for a receipt that says you own something that you don't really own."

And a joke:

"Sell me this pen."

"The pen is an NFT."
 
2022-01-19 8:19:27 AM  
So a money laundering scheme is plagued with criminals?
 
2022-01-19 8:41:13 AM  
You spend a lot of money to own nothing.
Isn't it already a scam?
 
2022-01-19 8:52:30 AM  
Fark user imageView Full Size
 
2022-01-19 9:29:52 AM  
I'm only pissed I can't figure out how to profit from this.
 
2022-01-19 9:48:23 AM  
I am actually surprised by this.  I would have thought the primary use would me money laundering.  Still crime, just a different crime.
 
2022-01-19 9:49:18 AM  

NewportBarGuy: I'm only pissed I can't figure out how to profit from this.


If you absolutely must make money from NFTs, just rob a cryptobro. Don't directly participate in this bullshiat.
 
2022-01-19 9:51:14 AM  

NewportBarGuy: I'm only pissed I can't figure out how to profit from this.


Let me tell you how this works.  You pay me and get NFT of bostonguy's post.  How cool is that?

Once you have paid me, it is the block chain forever and securely yours.  And then once blah blah blah you get rich.  How cool is that?  All praise the good and wonderful blockchain!  Can I get a digital amen? am011001[1000001010!
 
2022-01-19 9:53:12 AM  
I brought an NFT that was supposed to buy me a personality for Second Life.  Instead I got a coupon for Half Life.
 
2022-01-19 9:58:23 AM  

thurstonxhowell: NewportBarGuy: I'm only pissed I can't figure out how to profit from this.

If you absolutely must make money from NFTs, just rob a cryptobro. Don't directly participate in this bullshiat.


You mean sell them an NFT that's a clone of what they thought they were buying? Or go Heath Ledger Joker style and delete them once you steal them.
 
2022-01-19 10:04:58 AM  

NewportBarGuy: I'm only pissed I can't figure out how to profit from this.


A friend of mine is an artist and he's figuring out how to profit.  Do something like Weird Whales or Bored Ape which is to create a brand identity and then sell variations of that identity that are still clearly the brand.

I've been thinking you could just rip off the Lacoste alligator and change the colors and add embellishments and sell those as NFTs.  Or, even better, just use the old Sears dragon logo.  The trademark is likely no longer being defended.

Fark user imageView Full Size
 
2022-01-19 10:08:17 AM  
Subby, I prefer to be a more active participant.

Fetch me my feinting coach.
 
2022-01-19 10:19:23 AM  

wildcardjack: thurstonxhowell: NewportBarGuy: I'm only pissed I can't figure out how to profit from this.

If you absolutely must make money from NFTs, just rob a cryptobro. Don't directly participate in this bullshiat.

You mean sell them an NFT that's a clone of what they thought they were buying? Or go Heath Ledger Joker style and delete them once you steal them.


No. There is no good reason to participate in the NFT market. It is much more ethically sound to rob the people who do by normal means.
 
2022-01-19 10:33:55 AM  

thurstonxhowell: wildcardjack: thurstonxhowell: NewportBarGuy: I'm only pissed I can't figure out how to profit from this.

If you absolutely must make money from NFTs, just rob a cryptobro. Don't directly participate in this bullshiat.

You mean sell them an NFT that's a clone of what they thought they were buying? Or go Heath Ledger Joker style and delete them once you steal them.

No. There is no good reason to participate in the NFT market. It is much more ethically sound to rob the people who do by normal means.


Besides, robbery brings more of a personal touch to relieving people of their possessions.
 
2022-01-19 10:37:00 AM  

DON.MAC: NewportBarGuy: I'm only pissed I can't figure out how to profit from this.

Let me tell you how this works.  You pay me and get NFT of bostonguy's post.  How cool is that?

Once you have paid me, it is the block chain forever and securely yours.  And then once blah blah blah you get rich.  How cool is that?  All praise the good and wonderful blockchain!  Can I get a digital amen? am011001[1^E0!


Fark user imageView Full Size
 
2022-01-19 10:41:09 AM  

Rapmaster2000: NewportBarGuy: I'm only pissed I can't figure out how to profit from this.

A friend of mine is an artist and he's figuring out how to profit.  Do something like Weird Whales or Bored Ape which is to create a brand identity and then sell variations of that identity that are still clearly the brand.

I've been thinking you could just rip off the Lacoste alligator and change the colors and add embellishments and sell those as NFTs.  Or, even better, just use the old Sears dragon logo.  The trademark is likely no longer being defended.

[Fark user image image 500x500]


Just get something already in the public domain like materials donated to the library of congress... it's totally legal to monetize stuff in the public domain. Hell shutterstock makes a business out of grabbing any public domain images they can get and selling them to people. They even tried to sue one of the original artists to stop them from using their own images they donated to the public domain and when the artist turned around and sued them for monetizing her images, the government shut her down saying they had the right to do so since it was in the public domain.
 
2022-01-19 11:33:18 AM  

bostonguy: I once heard someone describe NFTs like this: "You are paying for a receipt that says you own something that you don't really own."

And a joke:

"Sell me this pen."

"The pen is an NFT."


Everyone gets to have sex with your wife, but you have the marriage license.
 
2022-01-19 11:40:33 AM  
The NFT market isn't plagued with fraud.

Fraud IS the NFT market.
 
2022-01-19 12:07:02 PM  
But look, now instead of sexually harassing women with unsolicited dick pics, we can sexually harass them with an unsolicited NFT proving they "own" (in a manner completely unprotected by law) the dick pic.
 
2022-01-19 2:17:06 PM  

bostonguy: I once heard someone describe NFTs like this: "You are paying for a receipt that says you own something that you don't really own."

And a joke:

"Sell me this pen."

"The pen is an NFT."


"Cici n'est pas une pipe."
 
2022-01-19 2:19:45 PM  

tricycleracer: bostonguy: I once heard someone describe NFTs like this: "You are paying for a receipt that says you own something that you don't really own."

And a joke:

"Sell me this pen."

"The pen is an NFT."

Everyone gets to have sex with your wife, but you have the marriage license.


Kind of funny that this is really what a marriage license was meant to do: give you and the spouse the right to have sex.
 
2022-01-19 2:40:18 PM  
Pretty sure the TP in the restroom at work is an NFT, No Fecal Transfer.
 
2022-01-19 3:25:25 PM  

keldaria: Rapmaster2000: NewportBarGuy: I'm only pissed I can't figure out how to profit from this.

A friend of mine is an artist and he's figuring out how to profit.  Do something like Weird Whales or Bored Ape which is to create a brand identity and then sell variations of that identity that are still clearly the brand.

I've been thinking you could just rip off the Lacoste alligator and change the colors and add embellishments and sell those as NFTs.  Or, even better, just use the old Sears dragon logo.  The trademark is likely no longer being defended.

[Fark user image image 500x500]

Just get something already in the public domain like materials donated to the library of congress... it's totally legal to monetize stuff in the public domain. Hell shutterstock makes a business out of grabbing any public domain images they can get and selling them to people. They even tried to sue one of the original artists to stop them from using their own images they donated to the public domain and when the artist turned around and sued them for monetizing her images, the government shut her down saying they had the right to do so since it was in the public domain.


It's so funny that you're all thinking of how to do this legally, when kids are making thousands of dollars just going on GIS and making NFTs out of what they find.
 
2022-01-19 4:30:51 PM  

Arkanaut: keldaria: Rapmaster2000: NewportBarGuy: I'm only pissed I can't figure out how to profit from this.

A friend of mine is an artist and he's figuring out how to profit.  Do something like Weird Whales or Bored Ape which is to create a brand identity and then sell variations of that identity that are still clearly the brand.

I've been thinking you could just rip off the Lacoste alligator and change the colors and add embellishments and sell those as NFTs.  Or, even better, just use the old Sears dragon logo.  The trademark is likely no longer being defended.

[Fark user image image 500x500]

Just get something already in the public domain like materials donated to the library of congress... it's totally legal to monetize stuff in the public domain. Hell shutterstock makes a business out of grabbing any public domain images they can get and selling them to people. They even tried to sue one of the original artists to stop them from using their own images they donated to the public domain and when the artist turned around and sued them for monetizing her images, the government shut her down saying they had the right to do so since it was in the public domain.

It's so funny that you're all thinking of how to do this legally, when kids are making thousands of dollars just going on GIS and making NFTs out of what they find.


Hey! When I go to scam "money" out of people, I intend for it to stand up to court scrutiny so I don't have to give it back or get arrested for stealing.
 
2022-01-19 4:59:50 PM  
Mind-blowing fraud in NFT.

Is there something we didn't already know?
 
2022-01-19 5:33:43 PM  

bostonguy: I once heard someone describe NFTs like this: "You are paying for a receipt that says you own something that you don't really own."

And a joke:

"Sell me this pen."

"The pen is an NFT."


i don't know whether NFT's are real or will last in the market.

but i know public, open source, peer to peer blockchains like Ethereum will change the world.
 
2022-01-19 5:45:55 PM  
People of a certain age will know the saying:

You can't cheat an honest man.

you know, or woman. But the idea is that, if you expect to get something for nothing, you are a lazy thief. Anyone who buys an NFT is participating in this fantasy game where they are going to give up their money for something that is so worthless that it is freely available to anyone browsing the internet. Why would someone do that? Because the expect to find someone stupider who will pay more for it.

So. The headline and article talk about fraud. This is almost not even fraud. These are thieves stealing from other thieves. And they all know what they are doing. They MUST! And if it is money laundering, then it is still a bunch of criminals ripping each other off.

I am just stating the obvious again, right? I have got to stop doing this. Deep down, I care. Like Julius in Pulp Fiction, I want to shepherd the righteous away from muthafackas like this... or something. Honest people need to stay away from all this crap.
 
2022-01-19 8:15:26 PM  

SomeAmerican: The NFT market isn't plagued with fraud.

Fraud IS the NFT market.


The person who came up with this crap has to be related to Barnum and / or Bailey, and is probably rich as hell now and laughing his / her ass off..  just more proof of the dropped IQ of America..
 
2022-01-19 9:59:19 PM  
"The NFT art market"

*eyeroll*

Buying and selling art-referencing NFTs is an art market in the same sense that buying and selling letter-shaped cheetos is a literary market.
 
2022-01-20 7:44:08 AM  

OkieDookie: Pretty sure the TP in the restroom at work is an NFT, No Fecal Transfer.


I think you missed some punctuation.

No, fecal transfer!
 
2022-01-20 7:48:11 AM  

Monkeyfark Ridiculous: "The NFT art market"

*eyeroll*

Buying and selling art-referencing NFTs is an art market in the same sense that buying and selling letter-shaped cheetos is a literary market.


Fark user imageView Full Size
 
2022-01-20 3:27:59 PM  
I've seen an uptick amongst photographers I follow selling NFTs.  So there seems to be some validity to the market.

I still don't get why though, anyone would want to own a digital copy of a piece of photography.
 
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