You just keep the NFT that is still "worth" whatever you last paid for it, but it's basically free to you. So what do you do? Loan it to a celebrity and announce it as if it's a sale! This generates news articles about celebrity adoption, they get your bored ape that you couldn't sell, and suddenly a new wave of suckers floods into the market.
The fact that it's so simple to do this and scam people makes NFTs a great scam vehicle. Add in the fact that crypto tends to attract true believers (aka fantastic marks) and you elevate the grift from great to all-time.
If anyone from a VC fund is reading this, yes this is actually what's happening with your Web3/crypto investments lmao.
https://m.youtube.com/watch?v=YQ_xWvX1n9g
I could buy a starter pack of pokemon cards for something like $20 USD. It's a game, I can find a friend and play it. I can play almost any normal video game for $10 to $60 USD.
To play Axies, you need to buy around $900 worth of "starter axie" NFTs.
People are buying ugly pictures of apes for prices like $11,000 USD.
NFTs produce artificial hierarchy and scarcity over functionally useless, objectively worthless, and materially non-existing assets. It is the claws of a dystopia reaching in to take away the free and open internet we've all learned to love.
Ponzi schemes and scams are so ubiquitous in the crypto space (presumably mostly NFTs) that they coined a new term "rugpull" for talking about it.
NFTs featuring unauthorized art is so common that Deviant art implemented a feature to help artists get notified when someone tries to mint and sell your art.
> I'm just pointing out that you wrote a very long answer to a question and your answer didn't even try to relate to the question that was asked.
This is the post that you're replying to. I find it ironic that you replied to this post with a run-of-the-mill crypto-is-bad rant that still doesn't answer the question that was asked.
Ok, so this friend of yours wishes that they would have made 100x return on what you describe as a scam. You describe this as "wishing they were born retarded". How does that make sense to you? If you want to criticize the morality of making money of the backs of others in a scheme that resembles a Ponzi, do that. What you described was something else entirely.
Dunno about Pokemon, but Magic cards may hold their value. There's a very limited number of sought after, rare items (Power 9, sealed boxes of early sets etc.) and millions of people who really enjoy the game. Some of them are bound to be wealthy and crazy collectors, who create demand beyond just pure speculation.
Maybe even the Pokemon cards as well