Re:YouTube millionaires are not your friends
by polotics on Saturday March 18, 2023 @06:06AM
(#35207746)
Pumping and dumping collectibles has a long history, from beanie babies to fake bodily remains of saints...
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Re:YouTube millionaires are not your friends
by colechristensen on Saturday March 18, 2023 @01:38PM
(#35211279)
If I sell you a share the represents a beanie baby, that’s a security. It doesn’t matter what the underlying asset is, a security is a security and NFTs look a lot like securities.
Your AAPL shares are just entities in a database somewhere (or a series of databases, it’s complex), an NFT is essentially the same, database entries that point to ownership of an abstract thing which can be traded.