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Personal Finance and Investing

LetMyPeopleVote

(155,862 posts)

1. Non-Fungible Tokens are scams

Reply to bif (Original post)

Fri Feb 17, 2023, 03:51 PM

Feb 2023

There are supposed unique art works that are generated using blockchain technology which is used for cryptocurrencies. You get a link to some "artwork" that in theory is unique. There is no inherent value in these "artworks" and any value is dependent on public demand or other suckers. The trading cards issued by TFG back in December are in effect NFTs and evidently these cards are now largely worthless. BTW, I also think that cryptocurrencies are also scams.

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Could someone explain how NFT scams work? [View all] bif Feb 2023 OP

Non-Fungible Tokens are scams LetMyPeopleVote Feb 2023 #1

Okay, so explain this... bif Feb 2023 #2

I'd tell them, give me $6,000 multigraincracker Feb 2023 #4

I tell them $250 and it's yours! bif Feb 2023 #7

Bingo multigraincracker Feb 2023 #9

I did a search for ItsjustMe Feb 2023 #3

NFTs of artwork are a modern, online version of a questionable operation... brush Feb 2023 #5

This is the best I've ever read leighbythesea2 Feb 2023 #6

So if I accept $12,000 in NFTs, can I convert it to cash? bif Feb 2023 #8