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From millions of dollars to under a grand: The dramatic fall of the NFT (english.elpais.com)
submitted 6 months ago by to c/technology@lemmy.world
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[+] 242 points 6 months ago* (last edited 4 months ago) (9 children)
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  • [–] 324 points 6 months ago* (4 children)

    That's easy to say with the benefit of hindsight in 2026. However, back in 2021, it was easy to say without the benefit of hindsight.

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  • [–] 19 points 6 months ago (2 children)

    I think it was even easier to say in 2021, because more people knew about it and the scam was even more obvious. Now, in 2026, most people's hindsight doesn't go back that far, it was quickly forgotten as it should be, and people are like "huh? NFT?"

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  • [–] 1 point 6 months ago

    Walking up to a game of Three Card Monte and saying "It's pretty obvious he's palmed the Queen" mostly just gets you heckled and chased away.

    Part of the problem with digital spaces is that you've got your person setting up the scam, and then you've got your layer of people marketing the scam, and then you've got your first layer of suckers who think they are coming out ahead on the scam, and then you've got the second layer of suckers who all know a tier-one sucker who just got rich. And then you've got the bots and the ideologues and the contrarians and the know-it-alls, all repeating the line that the person who set up the scam encourages them to say.

    And it's over all that cacophony that you announce "It's obviously a scam". Then Reddit boots you for violating terms and conditions of the platform.

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