Re:SEC brought its first non-fungible token enforcement action
by throwitaway156 on Monday August 28, 2023 @06:47PM
(#37301369)
This is how the free market works, however. You can sell yourself a pencil for 1mil and it will be technically valued at 1mil in the public market, but good luck selling that to someone else. Same applies to NFTs, just a bit more marketing (edit: and dumb hype i should add) is involved.
[ Parent
| on HN ]
Re:SEC brought its first non-fungible token enforcement action
by not2b on Monday August 28, 2023 @06:56PM
(#37301435)
No, because your $1 million pencil was never on the market; your hypothetical self-sale was a fake transaction. With NFTs it was often deceptively represented that someone paid $1 million, disguising the fact that these were bogus self-sales.