Jack Dorsey’s first-ever tweet, which sold as an NFT, or nonfungible token, last year for over $2.9 million, is now only worth thousands of dollars…
… However, as of the time this story was published, the highest bid for the tweet was worth $9,968, a $2,905,867 drop in value.
https://www.cnbc.com/2022/04/14/2point9-million-dollar-nft-o…
And the other side of that other NFTs keep climbing. Non Fungible means if one token goes up or down it is irrelevant to any other token.
As for the tweet? Interesting timing.
And the other side of that other NFTs keep climbing. Non Fungible means if one token goes up or down it is irrelevant to any other token.
Yes, it’s very much like Beany Babies in that way. If the price of one Beany Baby goes down, it’s irrelevant to any other Beany Baby, so long as the trendy fad lasts, and the inventory remains limited. Totally non-fungible.
Oh wait…
The differences are important Goofy,
The art can be of import reflecting on our global culture. Beany Babies reflected on our culture for a very short period of time. There were not further major developments carrying on the Beany tradition.
This is not a fad.
Can it be a bad investment? Hell yes. Can it be a fantastic investment? Sometimes.
Comparing tweets of any value to BAYC cards would be odd. Meaning a tweet has zero value. But art can have a lot of value. Manuscripts have a lot of value, but a heart on a mass produced napkin has no value.
The first tweet was minted during a manic period for Eth. Today we are coming out of a depressed period for Eth.
Bottom line no one has to believe. I am not at all interested in converts. I am interested in making my art and selling it to the public in an honest fashion. The people that love it will buy it if they can afford it.
… However, as of the time this story was published, the highest bid for the tweet was worth $9,968, a $2,905,867 drop in value.
Karma taking its revenge!
The Captain