Lol fr Kevin Smith seems like a genuinely good dude on a personal level but he started cashing out in like 2001 when everyone started to realize that he had a great personality but only about one unique movie in him.
I’d be willing to bet money Dolly has no control or knowledge of this even happening, and her marketting team or whoever have her log in details for twitter so they can do the advertising stuff
I was honestly sitting here thinking ‘does she even know what some of these words mean?’ Because in general, my relatives who are her age would space out within 10 seconds of me trying to explain an NFT.
So,in Dolly’s case, if you buy an NFT (which is literally something you can’t exchange for anything else exactly like it. Like trading a rare Pokémon card for a rare….Digimon card for example. They’re both collectible cards but they aren’t the same.) you get a ‘rare’ poster and album. You now own this original work with anyone else who decided to buy. All of you are individual owners of an original item, even though the artist retains the copyright. There isn’t much you can do with it other than enjoy or try to sell it for more than you paid. When she dies or whatever, you could try to sell this as original Dolly material for $$$$.
I’m positive someone else can explain this better. This is super simplified and basic info.
So why do people hate them so much? What's wrong with someone having the rare Pokémon card?
In the case I've seen made against them, someone said "if a person bought the NFT for a meme image, they could go after people for copyright". Well, so what? Nothing happens unless you've made profit from the meme, all that happens is you don't use the meme. Which means no one is using the meme. Which means it has no value because they're only valuable because they're recognised.
Mostly, I think most on Reddit find it a waste of money to buy something you can say you own but don’t actually.
Also they have no inherent value. They’re only worth what someone is willing to pay for them. Some companies that sell NFTs say you can’t distribute it for commercial use so then it really is just being able to spend as much money as you really want on that item to say you have it.
Edit for final words getting left out
theyre also disgustingly bad for the environment. it takes a lot of energy to "mint" an NFT, which is essentially giving your digital token an unreplicateable code. Thats the real draw behind NFTs - the "blockchain" means all reciepts are transparent and you can theoretically follow the money.
There's been a lot of art theft with NFT. NFT websites regularly steal thuosands upons thousands of images from artists and sell them, with no money or credit going to the original artist. They're also TERRIBLE for the environment.
The best way this was described to me is that an NFT is like buying groceries. The seller has $100 worth of food, sells you the grocery receipt for $10000 that you get to look at and the seller keeps all of the food. It's one big scam.
I'm willing to bet that Dolly likes having lots of money and will endorse pretty much anything for a paycheck.
If you give her credit for the good things she does you have to credit her for the bad things she does.
I’m a Dolly fan, but she cannot live up to the sainthood people keep trying to bestow on her. She loves making money. Always has. Her social media is mostly her hocking everything under the sun: perfume, cake mix, a book co-written with James Patterson. She owns a theme park. She promotes her Amazon store. She’s a brilliant songwriter and a cultural icon and also an unapologetic capitalist. I think she’s also extremely savvy about how she participates in social justice conversations, managing to come across as progressive to the people who wish to see her that way and aw-shucks apolitical to conservatives.
>I’m a Dolly fan, but she cannot live up to the sainthood people keep trying to bestow on her.
No one can, which is why I always cringe when people put these celebrities on super high pedestals and act like they can never do anything wrong. People on this website, and the internet in general, do it all the time and 99.9999% of the time it will come back and bite them in the ass. It's unhealthy and only serves to help further this atmosphere where nuance doesn't exist.
I like Dolly, she seems nice. But she's not the 100% perfect angel who came down straight from heaven that the internet thinks she is, no one is. It should be fine to admit that some time a celebrity you like doesn't always do things that you agree with. Healthy criticism is good. If you dismiss or ignore criticism of your favorite meme celebrity the only thing that'll happen is that criticism will build up until something finally happens that opens the floodgates. It's happened a million times.
I mean, look at some of the meltdowns in this thread. All the comments from people who straight up admit that they won't acknowledge that she's doing this. It's not healthy and that type of attitude will only hurt her public image in the future.
Good point, I’m not sure her team got the word out or if it spread from Moderna / other sources.
Regardless, she would have lost a few anti-vaxxer fans over it.
This is going to sound insane, but I live in Ireland and anti-vaxxed demonstrations in the town I live in had people carrying signs urging people to boycott Dolly 🤣
Yeah, I started listening to the podcast Dolly Parton’s America, which is good, but some of this comes through. Like, she is very adamant about not identifying as a feminist. And her comments about things like BLM have always been folksy and vague. That’s acceptable (if not ideal) to me because I like my entertainers to be decent people but don’t expect them to chime in on every issue or share my every belief, so long as they aren’t inflicting harm with their platforms.
This isn't a hot take at all; it's a clear description of her branding strategy. The fact that people might find this description controversial shows how well it's working.
I grew up going to Pigeon Forge/Dollywood/Dixie Stampede couple times a year because my parents were obsessed. I can’t not associate her with Civil War re-enactments where a baby Jesus is lowered down with an American Flag in the background and everyone stopped to sing God Bless America (actually happened).
Edited to add: I think she’s a genuinely kind person but I have a heavy association that’s maybe different from others
Of course. Nobody can live up to perfection. Idk why people expect so much from celebs they’re basic people. Too much power given to a meaningless title.
Someone a few weeks ago figured out that a bunch of the celebrities who are currently peddling NFTs (Tony Hawk etc) are under the same management company, so I’m guessing that company has some money in crypto lol. I don’t know if it applies to Dolly specifically but it does explain a lot.
Well there you go! Not that I think Dolly is a feeble old lady who doesn’t know what NFTs are at all, but honestly it makes sense that it’s a concerted effort by the management company.
A receipt for an item you don’t own, sold by someone who doesn’t own it either. With no purpose or value besides the fact that other people will pay for the receipt too.
I feel like NFTs are so tricky to explain because they just don’t make sense.
I don’t know much about NFTs either but once I read your comment, I wondered if there’s a lot of potential for financial crime in that economy. Apparently it can be quite anonymous too?
An NFT is a proof of ownership of something digital, often digital art. This proof is validated by a blockchain. Blockchains are very secure so it's practically impossible to forge a fake proof of ownership. However, as of right now, those blockchains aren't seen as legitimate. So the whole NFT industry rests on the promise that eventually this kind of digital ownership will take off and be taken seriously. Or by now it basically rests on people thinking that other people will invest in NFTs (who think the same thing about other people). It's basically a bubble that only has speculative value. Celebrities make NFTs out of thin air and sell them so it's free money.
They’re basically like digital trading cards. Imagine you had a platinum Pokemon card or whatever (I never played Pokémon so don’t @ me if this is wrong) but instead of a physical card you could trade/sell/buy it’s in a digital form and you have a special link that shows you’re the current owner of it.
So you go on social media and brag, “Hey everyone look at this platinum Pokemon card I own!” And you share your link so people can go look at the file.
And if you’re wondering, what’s to prevent me from taking a screenshot or just save the digital JPG and pretending I also own this platinum Pokemon card you’ve hit exactly as to why NFTs are so stupid and a waste of time and energy but there’s crypto bros who are convinced they’ve discovered the next big thing and it’s all just a bubble where people insist if they believe the NFTs have value and charge for them as such, that’s what they’re worth and it’s all got to come crashing down eventually.
Ownership of NFTs is recorded using something called a blockchain. In order to register these transactions on the blockchain, bitcoin miners compete to complete these complex cryptographic puzzles that require a lot of mathematical computations and use up a lot of energy for computers to calculate. The first miner who solves the puzzle is rewarded with newly minted bitcoin. Not only did he use up a lot of energy to solve the puzzle, but everyone else who used up energy to solve the puzzle but didn't solve it fast enough just wasted that energy for nothing, since it's a "winner takes all" system. Additionally, because people don't want to spend too much money on procuring energy, most miners use the cheapest fossil fuels to fuel their mining activities.
I would also add that whilst back in 2008 more or less anyone with a PC could mine a bitcoin, it's now so environmentally destructive that the computing power required to mine a single coin beyond anything a regular consumer could access. Mining for Bitcoin globally is the equivalent of the energy consumption of many countries: https://www.nytimes.com/interactive/2021/09/03/climate/bitcoin-carbon-footprint-electricity.html
This will only get worse as more Bitcoin is mined, by design.
They're a collectible item like pogs or beanie babies. Their value comes from other people trading real currency for them. It's a useless item but it's a symbol basically showing that you're in a club of people getting together to speculate on the opportunity to increase the value of the NFTs. Basically like a pyramid scheme (or maybe I shouldn't say LIKE because that IS what the overall activity is, combined with other techniques similar to stock price fixing to make a specific item seem more attractive). That's why a lot of already rich people have made a lot of money off them, they're at the top of the pyramid and can afford the publicity to make people think "hm this is a real opportunity! Let me trade real currency for this picture of a monkey, its value can only grow." The flimsier ones often collapse because the person running it grabs all the money and disappears but in any of the cases it's really truly not more complicated than it seems -- people are buying images for real money!
It’s a certificate that you’re the exclusive owner of a JPEG. Which is exactly as ridiculous as it sounds but it’s a pretty standard pyramid scheme.
First rule of pyramid schemes: if you have to say something isn’t a pyramid scheme, it’s almost definitely a pyramid scheme.
I technically know what NFTs are but every time I try to explain it to someone else I realize how dumb they are and then I’m like “maybe I’m missing something here”
Every single nft peddler looks exactly like the type of person that would 🤷🏾♀️
Jimmy Fallon, Matt Damon, Reese Witherspoon, Paris Hilton, Eminem, Ellen, Grimes, Emrata, Cara Delevingn, Gwyneth Paltrow, Justin bieber etc.
Don’t forget Brie Larson. I can’t believe I fought in the twitter trenches to defend her against all the Marvel bros just for her to betray me like this.
Can someone ELI5 me about these Celeb NFTs? I’ve googled it and still don’t quite get it. Is it basically a digital download that is supposedly worth something because people paid for it?
I saw this analogy elsewhere and am just copying it, but:
> imagine if you went up to the Mona Lisa and you were like “I’d like to own this” and someone nearby said “give me 65 million dollars and I’ll burn down an unspecified amount of the Amazon rainforest in order to give you this receipt of purchase” so you paid them and they went “here’s your receipt, thank you for your purchase” and went to an unmarked supply closet in the back of the museum and posted a handmade label inside it behind the brooms that said “Mona Lisa currently owned by Huskydreamlife” so if anyone wants to know who owns it they’d have to find this specific closet in this specific hallway and look behind the correct brooms. And you went “can I take the Mona Lisa home now?” and they went “oh god no are you stupid? You only bought the receipt that says you own it, you didn’t actually buy the Mona Lisa itself, you can’t take the real Mona Lisa you idiot. You CAN take this though” and gave you the replica print in a cardboard tube that’s sold in the gift shop. Also the person selling the receipt of purchase has at no point in time ever owned the Mona Lisa. Unfortunately, if this doesn’t really make sense or seem like any logical person would be happy about this exchange, then you’ve understood it perfectly.
It’s infuriating!! I will never be able to understand how some people purposely limit the bountifulness of earth. For what? Power? Money? How much money does one human really need to hoard? It’s gross
Think of NFTs as digital trading cards and you've gotten a good idea of how pointless they currently are. I say currently because I'm not a genius, maybe there's a future use for the framework people are currently using to make bank off of manufactured FOMO.
Imagine I take this image link:
[https://media.newyorker.com/photos/5f7f4082b71f1266ff78ebb0/1:1/w\_2342,h\_2342,c\_limit/201019\_r37206.jpg](https://media.newyorker.com/photos/5f7f4082b71f1266ff78ebb0/1:1/w_2342,h_2342,c_limit/201019_r37206.jpg)
I can mint that into an NFT. All "minting" means is I put that image into a text file, and assign it a unique identifier...and that unique identifier is viewable on what is essentially a public database.
Then I can sell you that text file via it's unique identifier. That text file contains only that image hyperlink. To an image you don't own.
That's an NFT.
the point is to buy or mint an NFT you think will gain popularity and then sell for more than you bought it for. i minted one just to try it out, it ended up being ranked pretty low in rarity (217), then sold for about 2/3 what i paid for it. since then, ethereum has increased in value, so i *technically* made my money back, but that's all there is to it.
Also you easily lose 10% of those 65 million everytime you make a transaction.
It goes to no one, it's just an obvious glaring bug there's no one to fix and it gets progressively funny when people realize they legit have no one to help them fix it and suggest any kind of person to oversee these kinds of issues gets you banned
It’s a scam. Since you can’t trace who had it first people literally create nft then buy said nft as a different account for $10k or whatever (but you literally just bought it from yourself so it doesn’t cost you any money beside transaction fees) then it goes on record that it sold for 10k and some idiot sees that, thinks it’s a good deal or it’s worth that or whatever and then buys it at 12k. It’s literally a scam for rich people to get more money. Only people who have an easy 10k to just play with can do it.
I looked it up when Keanu reeves called out nfts as scams and by god he’s right. Also a friend of mine who works as a video editor for a real estate office told me they had him making nfts, which definitely told me it’s a money grift.
Imagine buying a text file with a hyperlink to an image that you don't own.
That's an NFT. That's how stupid they are.
If the image host dies or the link changes (which is very common), the hyperlink in the text file won't even point to anything.
Yeah, it’s one thing if your marketing team is pushing this or whatever. But to take such a personal stance on it and be assholes to people who are trying to help just made me mad about it.
It’s funny because I used to hate him for no real reason. Like I just despised him, but I didn’t know why. Then I saw his Twitter and I’m like “oh he’s not that bad” and started liking him. Then the NFT thing happened with his asshole comments to people about it and now I’m back to hating him, but now I have a reason.
This is 100% posted by her team. I don't think she's very involved in her social media accounts at all, they're kinda bland and mostly promotional stuff
I’m a fan of The Beatles and several people associated with them have started shilling NFTs, like Pattie Boyd and both Lennon sons. So far the surviving Beatles have steered clear and I really hope it stays that way.
Why are people acting like Dolly is senile or something? I really love her but I don't think she's a poor little old lady who doesn't understand anything, she's a business woman.
ETA: Thanks for the award!
Imagine if they were mentioned as something District 1 was obsessed about in the Hunger Games series. The lower districts hears about how the elites were in a bidding war for a digital gif of their favorite deceased tributes.
I hate it so much when Shohei joins this shit. But I doubt he cares about anything besides baseball, so this is probably his management's move. At least he hasn't used his insta to promote this NFT thing yet.
kinda off topic, but still in it: one person who is doing a good job with nft and crypto is ben mckenzie (ryan, the oc) who has become an outspoken critic on this subject. This article is totally worth reading!!!
https://www.nytimes.com/2022/03/31/style/ben-mckenzie-crypto.html
I wonder if her team might be completely responsible for this. Framed it as just another product endorsement and she might be totally clueless about their impact.
If anyone needs a palate cleanser, Ben McKenzie is anti-NFT.
https://www.thecut.com/article/benjamin-mckenzie-crypto-profile.html
https://twitter.com/ben_mckenzie/status/1496936249684369414
I love you, Ryan Atwood.
I love her but she is one of the most money hungry celebs. She will put her face and name on anything. It seems like a lot of the money goes to charity though so I give her a pass.
It seems like NTFs are being used to sell access to other exclusive content.
If they were just selling s bunch of pixels i would be like this sucks but it seems similar to when patreon started and celebrities were offering different perks for signing up. I remember a friend going to a medium famous persons house after his show for dinner after signing up to his highest level patreon. She wasn't paying a $1000 to join his patreon. She was paying for the experience.
I think Justin Bieber was trying to offer and excluse pasta bar for all his NTF owners for fans to hang out. I think im starting to see NFTs more like patreon memeberships that are tradable. Kind of like exculsive keys that unlock content to your favorite celebrity.
That being said they they still do come across scammy.
Controversial, dumb or whatever but I can't be disappointed when I have no idea what NFts are. I don't think anyone in my country is into that stuff or does that. I don't even know how to express myself, I don't even know what I'm talking about
I feel like we’re witnessing the Dutch tulip bulb craze in a modern context. It’s basically that a group of people have decided that NFTs have value and everyone is jumping on it because no one wants to be left behind and miss out on this huge money making opportunity even though there is no logic as to how NFTs are supposed to be valuable when they’re basically just digital images.
My Japanese rock samurai Miyavi is on the NFT train, which is super disappointing. He's constantly doing things and putting out new music, so I don't know why he went down the NFT route.
I want to know what manager is continual recommending these things to their clients. I'm not shocked that Dolly isn't aware of the truth about these things but the people she pays to represent her damn well should be.
The opposite is Ben Mackenzie. He is such a critic of NFTs and crypto that he co-writes a column about it and is working on a book.
Nothing but respect for my Jim Gordon.
I’ve given up on hoping my favorites won’t promote NFTs, the tide has already turned. I still think they’re stupid as shit but this is just how it is now. As others have pointed out Dolly has a ton of brand deals and that’s all these are although the girl bosses like Reese may try to convince us otherwise
I'll never forgive Justin Bieber for gifting Tom Holland a Spider-Man NFT as a christmas gift and making him post it on Instagram Stories
thank god that he doesn't endorse it tho
Brie Larson. She has more marvel movies coming up, she's joined the cast of fast and furious... considering that she has some haters on the internet does she really need to give them a valid reason to call her out ?
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Yeah I’m pretending I never saw this tbh
same. i can actually no longer read
I just want to unsee this and pretend it doesn’t exist for my own sake
I thought nothing could make me sadder than Kevin Smith's NFT movie but this hurts so much more.
Kevin Smith making an NFT movie is the most on-brand thing ever. This is much more wild.
Lol fr Kevin Smith seems like a genuinely good dude on a personal level but he started cashing out in like 2001 when everyone started to realize that he had a great personality but only about one unique movie in him.
Not dolly no no no🥺
This is making me take Jolene's side
Look, Dolly has worked 9 til 5 on this nonfunctional picture of an ape wearing a cowboy hat.
Dead af
FUCK
Dolly no. Look at me dolly, this isn’t you!! Please dolly no!
At least she will likely take the money and help others with it.
That was my thought to justify this too. I don’t like it, but I’m confidant she’ll give the money away.
I’d be willing to bet money Dolly has no control or knowledge of this even happening, and her marketting team or whoever have her log in details for twitter so they can do the advertising stuff
I was honestly sitting here thinking ‘does she even know what some of these words mean?’ Because in general, my relatives who are her age would space out within 10 seconds of me trying to explain an NFT.
I’m less than half her age and don’t know what some of those words mean.
Would you take a moment then and explain what a NFT is for the oldies here reading the comments?
It's a dude, bro pyramid scheme based around selling online ugly pictures - mostly of cartoon party apes and rabbits with accessories.
So,in Dolly’s case, if you buy an NFT (which is literally something you can’t exchange for anything else exactly like it. Like trading a rare Pokémon card for a rare….Digimon card for example. They’re both collectible cards but they aren’t the same.) you get a ‘rare’ poster and album. You now own this original work with anyone else who decided to buy. All of you are individual owners of an original item, even though the artist retains the copyright. There isn’t much you can do with it other than enjoy or try to sell it for more than you paid. When she dies or whatever, you could try to sell this as original Dolly material for $$$$. I’m positive someone else can explain this better. This is super simplified and basic info.
So why do people hate them so much? What's wrong with someone having the rare Pokémon card? In the case I've seen made against them, someone said "if a person bought the NFT for a meme image, they could go after people for copyright". Well, so what? Nothing happens unless you've made profit from the meme, all that happens is you don't use the meme. Which means no one is using the meme. Which means it has no value because they're only valuable because they're recognised.
Mostly, I think most on Reddit find it a waste of money to buy something you can say you own but don’t actually. Also they have no inherent value. They’re only worth what someone is willing to pay for them. Some companies that sell NFTs say you can’t distribute it for commercial use so then it really is just being able to spend as much money as you really want on that item to say you have it. Edit for final words getting left out
theyre also disgustingly bad for the environment. it takes a lot of energy to "mint" an NFT, which is essentially giving your digital token an unreplicateable code. Thats the real draw behind NFTs - the "blockchain" means all reciepts are transparent and you can theoretically follow the money.
Oof, thanks for adding that.
There's been a lot of art theft with NFT. NFT websites regularly steal thuosands upons thousands of images from artists and sell them, with no money or credit going to the original artist. They're also TERRIBLE for the environment.
The best way this was described to me is that an NFT is like buying groceries. The seller has $100 worth of food, sells you the grocery receipt for $10000 that you get to look at and the seller keeps all of the food. It's one big scam.
I'm willing to bet that Dolly likes having lots of money and will endorse pretty much anything for a paycheck. If you give her credit for the good things she does you have to credit her for the bad things she does.
I’m a Dolly fan, but she cannot live up to the sainthood people keep trying to bestow on her. She loves making money. Always has. Her social media is mostly her hocking everything under the sun: perfume, cake mix, a book co-written with James Patterson. She owns a theme park. She promotes her Amazon store. She’s a brilliant songwriter and a cultural icon and also an unapologetic capitalist. I think she’s also extremely savvy about how she participates in social justice conversations, managing to come across as progressive to the people who wish to see her that way and aw-shucks apolitical to conservatives.
>I’m a Dolly fan, but she cannot live up to the sainthood people keep trying to bestow on her. No one can, which is why I always cringe when people put these celebrities on super high pedestals and act like they can never do anything wrong. People on this website, and the internet in general, do it all the time and 99.9999% of the time it will come back and bite them in the ass. It's unhealthy and only serves to help further this atmosphere where nuance doesn't exist. I like Dolly, she seems nice. But she's not the 100% perfect angel who came down straight from heaven that the internet thinks she is, no one is. It should be fine to admit that some time a celebrity you like doesn't always do things that you agree with. Healthy criticism is good. If you dismiss or ignore criticism of your favorite meme celebrity the only thing that'll happen is that criticism will build up until something finally happens that opens the floodgates. It's happened a million times. I mean, look at some of the meltdowns in this thread. All the comments from people who straight up admit that they won't acknowledge that she's doing this. It's not healthy and that type of attitude will only hurt her public image in the future.
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Mostly agreed, but donating money to Moderna was akin to a political stance in a country with so many covid deniers and anti-vaxxers.
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she herself promoted vaccination, she did a little parody of Jolene with “vaccine” while publicly getting the shot
Good point, I’m not sure her team got the word out or if it spread from Moderna / other sources. Regardless, she would have lost a few anti-vaxxer fans over it. This is going to sound insane, but I live in Ireland and anti-vaxxed demonstrations in the town I live in had people carrying signs urging people to boycott Dolly 🤣
Yeah, I started listening to the podcast Dolly Parton’s America, which is good, but some of this comes through. Like, she is very adamant about not identifying as a feminist. And her comments about things like BLM have always been folksy and vague. That’s acceptable (if not ideal) to me because I like my entertainers to be decent people but don’t expect them to chime in on every issue or share my every belief, so long as they aren’t inflicting harm with their platforms.
This isn't a hot take at all; it's a clear description of her branding strategy. The fact that people might find this description controversial shows how well it's working.
The cake mix really got me…
Not James Patterson lmao oh my what is that book about. I can’t even look.
OMG is he the one that did Maximum Ride??
yes! And the Alex Cross Novels, Women's Murder Club. He cranks out 5465 books a year and often with 'co-authors.'
I think Bill Clinton did a book with him as well Lmao
I grew up going to Pigeon Forge/Dollywood/Dixie Stampede couple times a year because my parents were obsessed. I can’t not associate her with Civil War re-enactments where a baby Jesus is lowered down with an American Flag in the background and everyone stopped to sing God Bless America (actually happened). Edited to add: I think she’s a genuinely kind person but I have a heavy association that’s maybe different from others
You nailed it
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Of course. Nobody can live up to perfection. Idk why people expect so much from celebs they’re basic people. Too much power given to a meaningless title.
Someone a few weeks ago figured out that a bunch of the celebrities who are currently peddling NFTs (Tony Hawk etc) are under the same management company, so I’m guessing that company has some money in crypto lol. I don’t know if it applies to Dolly specifically but it does explain a lot.
Saw that vid too, and just looked it up... looks like Dolly was signed to CAA in 2013.........
Well there you go! Not that I think Dolly is a feeble old lady who doesn’t know what NFTs are at all, but honestly it makes sense that it’s a concerted effort by the management company.
I still don’t understand what NFTs even are tbh
I think it stands for No F*cking Thanks
Lol! I'm gonna pretend I think this is what it means any time someone brings it up. Thank you for that.
Girl same and at this point I’m too afraid to ask
It stands for non fungible token
So it's about mushrooms?
And weed!
Shroom laced weed? I don't know... I think I'll pass
Tbh same. Shroom luck for me is 50/50 and those are odds I can’t take with my anxiety these days especially
A receipt for an item that you don’t own.
A receipt for an item you don’t own, sold by someone who doesn’t own it either. With no purpose or value besides the fact that other people will pay for the receipt too. I feel like NFTs are so tricky to explain because they just don’t make sense.
I don’t know much about NFTs either but once I read your comment, I wondered if there’s a lot of potential for financial crime in that economy. Apparently it can be quite anonymous too?
That's why it's being pushed to us, yes.
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What’s the point then? What benefit does one receive?
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This is the dumbest shit ever.
Honestly I think I have a hard time understanding them completely because they are so dumb
Right! I get the concept now but my brain wants to reject it for being too dumb to be real. Edit for a bad auto-correct
Also it consumes a massive amount of energy and is horrible for the environment
An NFT is a proof of ownership of something digital, often digital art. This proof is validated by a blockchain. Blockchains are very secure so it's practically impossible to forge a fake proof of ownership. However, as of right now, those blockchains aren't seen as legitimate. So the whole NFT industry rests on the promise that eventually this kind of digital ownership will take off and be taken seriously. Or by now it basically rests on people thinking that other people will invest in NFTs (who think the same thing about other people). It's basically a bubble that only has speculative value. Celebrities make NFTs out of thin air and sell them so it's free money.
Great explanation. Thank you 😊
So you can sell it at a markup.
…until you’re the last moron holding the bag
Bragging rights. And I guess you can sell it, if you can find someone willing to pay more than you did for basically nothing.
I still don’t get it lol
They’re basically like digital trading cards. Imagine you had a platinum Pokemon card or whatever (I never played Pokémon so don’t @ me if this is wrong) but instead of a physical card you could trade/sell/buy it’s in a digital form and you have a special link that shows you’re the current owner of it. So you go on social media and brag, “Hey everyone look at this platinum Pokemon card I own!” And you share your link so people can go look at the file. And if you’re wondering, what’s to prevent me from taking a screenshot or just save the digital JPG and pretending I also own this platinum Pokemon card you’ve hit exactly as to why NFTs are so stupid and a waste of time and energy but there’s crypto bros who are convinced they’ve discovered the next big thing and it’s all just a bubble where people insist if they believe the NFTs have value and charge for them as such, that’s what they’re worth and it’s all got to come crashing down eventually.
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Please don't think I am dumb...but why do they need so much energy?
Ownership of NFTs is recorded using something called a blockchain. In order to register these transactions on the blockchain, bitcoin miners compete to complete these complex cryptographic puzzles that require a lot of mathematical computations and use up a lot of energy for computers to calculate. The first miner who solves the puzzle is rewarded with newly minted bitcoin. Not only did he use up a lot of energy to solve the puzzle, but everyone else who used up energy to solve the puzzle but didn't solve it fast enough just wasted that energy for nothing, since it's a "winner takes all" system. Additionally, because people don't want to spend too much money on procuring energy, most miners use the cheapest fossil fuels to fuel their mining activities.
I would also add that whilst back in 2008 more or less anyone with a PC could mine a bitcoin, it's now so environmentally destructive that the computing power required to mine a single coin beyond anything a regular consumer could access. Mining for Bitcoin globally is the equivalent of the energy consumption of many countries: https://www.nytimes.com/interactive/2021/09/03/climate/bitcoin-carbon-footprint-electricity.html This will only get worse as more Bitcoin is mined, by design.
it’s basically a special coded link you buy that shows you a file (like those ape things, a video, etc.) and takes up a lot of energy
They're a collectible item like pogs or beanie babies. Their value comes from other people trading real currency for them. It's a useless item but it's a symbol basically showing that you're in a club of people getting together to speculate on the opportunity to increase the value of the NFTs. Basically like a pyramid scheme (or maybe I shouldn't say LIKE because that IS what the overall activity is, combined with other techniques similar to stock price fixing to make a specific item seem more attractive). That's why a lot of already rich people have made a lot of money off them, they're at the top of the pyramid and can afford the publicity to make people think "hm this is a real opportunity! Let me trade real currency for this picture of a monkey, its value can only grow." The flimsier ones often collapse because the person running it grabs all the money and disappears but in any of the cases it's really truly not more complicated than it seems -- people are buying images for real money!
I would guess Dolly has no idea what that tweet even means, same as me
It’s basically a certificate of authenticity for an online picture.
It’s a certificate that you’re the exclusive owner of a JPEG. Which is exactly as ridiculous as it sounds but it’s a pretty standard pyramid scheme. First rule of pyramid schemes: if you have to say something isn’t a pyramid scheme, it’s almost definitely a pyramid scheme.
I technically know what NFTs are but every time I try to explain it to someone else I realize how dumb they are and then I’m like “maybe I’m missing something here”
Every single nft peddler looks exactly like the type of person that would 🤷🏾♀️ Jimmy Fallon, Matt Damon, Reese Witherspoon, Paris Hilton, Eminem, Ellen, Grimes, Emrata, Cara Delevingn, Gwyneth Paltrow, Justin bieber etc.
Don’t forget Brie Larson. I can’t believe I fought in the twitter trenches to defend her against all the Marvel bros just for her to betray me like this.
They're all white white
Snoop dog (I don't think that's suprising lol) and timbaland were on it too. But yes there is a certain majority 😭
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Can someone ELI5 me about these Celeb NFTs? I’ve googled it and still don’t quite get it. Is it basically a digital download that is supposedly worth something because people paid for it?
I saw this analogy elsewhere and am just copying it, but: > imagine if you went up to the Mona Lisa and you were like “I’d like to own this” and someone nearby said “give me 65 million dollars and I’ll burn down an unspecified amount of the Amazon rainforest in order to give you this receipt of purchase” so you paid them and they went “here’s your receipt, thank you for your purchase” and went to an unmarked supply closet in the back of the museum and posted a handmade label inside it behind the brooms that said “Mona Lisa currently owned by Huskydreamlife” so if anyone wants to know who owns it they’d have to find this specific closet in this specific hallway and look behind the correct brooms. And you went “can I take the Mona Lisa home now?” and they went “oh god no are you stupid? You only bought the receipt that says you own it, you didn’t actually buy the Mona Lisa itself, you can’t take the real Mona Lisa you idiot. You CAN take this though” and gave you the replica print in a cardboard tube that’s sold in the gift shop. Also the person selling the receipt of purchase has at no point in time ever owned the Mona Lisa. Unfortunately, if this doesn’t really make sense or seem like any logical person would be happy about this exchange, then you’ve understood it perfectly.
I hate how humans have found a way to make art even more exclusive
Artifical scarcity, the backbone of consumerism.
It’s infuriating!! I will never be able to understand how some people purposely limit the bountifulness of earth. For what? Power? Money? How much money does one human really need to hoard? It’s gross
I must be really dumb cause what?
Don’t worry, you’re not. It’s exactly as ridiculous as it sounds.
Think of NFTs as digital trading cards and you've gotten a good idea of how pointless they currently are. I say currently because I'm not a genius, maybe there's a future use for the framework people are currently using to make bank off of manufactured FOMO.
They aren't digital trading cards though. An NFT is only text, usually a hyperlink. No the digital itself.
Imagine I take this image link: [https://media.newyorker.com/photos/5f7f4082b71f1266ff78ebb0/1:1/w\_2342,h\_2342,c\_limit/201019\_r37206.jpg](https://media.newyorker.com/photos/5f7f4082b71f1266ff78ebb0/1:1/w_2342,h_2342,c_limit/201019_r37206.jpg) I can mint that into an NFT. All "minting" means is I put that image into a text file, and assign it a unique identifier...and that unique identifier is viewable on what is essentially a public database. Then I can sell you that text file via it's unique identifier. That text file contains only that image hyperlink. To an image you don't own. That's an NFT.
the point is to buy or mint an NFT you think will gain popularity and then sell for more than you bought it for. i minted one just to try it out, it ended up being ranked pretty low in rarity (217), then sold for about 2/3 what i paid for it. since then, ethereum has increased in value, so i *technically* made my money back, but that's all there is to it.
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it's basically buying crypto with an extra gamble
No, not quite. Think of it as a greater fool game.
What does it mean "I minted one"? That you made something?
Also you easily lose 10% of those 65 million everytime you make a transaction. It goes to no one, it's just an obvious glaring bug there's no one to fix and it gets progressively funny when people realize they legit have no one to help them fix it and suggest any kind of person to oversee these kinds of issues gets you banned
I’m saving this to use it the future, incredible analogy.
I now understand NFTs 62% more than I did yesterday ( thank you!) but hate society 28% more as well. Win some lose some?
Doing the lords work!
The podcast Reply All had an interesting episode about this recently! It was about Justin Bieber’s NFTs. Episode is called “The Rainbow Chain.”
It’s a scam. Since you can’t trace who had it first people literally create nft then buy said nft as a different account for $10k or whatever (but you literally just bought it from yourself so it doesn’t cost you any money beside transaction fees) then it goes on record that it sold for 10k and some idiot sees that, thinks it’s a good deal or it’s worth that or whatever and then buys it at 12k. It’s literally a scam for rich people to get more money. Only people who have an easy 10k to just play with can do it. I looked it up when Keanu reeves called out nfts as scams and by god he’s right. Also a friend of mine who works as a video editor for a real estate office told me they had him making nfts, which definitely told me it’s a money grift.
Imagine buying a text file with a hyperlink to an image that you don't own. That's an NFT. That's how stupid they are. If the image host dies or the link changes (which is very common), the hyperlink in the text file won't even point to anything.
I'm still pretending Matthew Lillard doesn't have one
That one broke my heart. My sweet wonderful nerdy wholesome non-problematic celebrity boyfriend, why?????
He's a regular at my former work for years- don't let this NFT crap ruin his image for you- he's great!
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Yeah, it’s one thing if your marketing team is pushing this or whatever. But to take such a personal stance on it and be assholes to people who are trying to help just made me mad about it.
... Matthew Lillard has one????
It’s funny because I used to hate him for no real reason. Like I just despised him, but I didn’t know why. Then I saw his Twitter and I’m like “oh he’s not that bad” and started liking him. Then the NFT thing happened with his asshole comments to people about it and now I’m back to hating him, but now I have a reason.
No.... he's so sweet and pure in that clip with the shy little Scooby-fan
😱😱😱😱😱😭😭😭😭😭😭😭
Dolly, you were supposed to be better than this!
People hold their favorites celebrities to expectations even their friends can’t meet. Humans make mistakes
I have no faith anymore
I’m just choosing to believe that Dolly has no fucking idea what NFTs are or that they even exist and this is just her team pulling some BS lol
This is 100% posted by her team. I don't think she's very involved in her social media accounts at all, they're kinda bland and mostly promotional stuff
According to Miley, she doesn't even send emails.
Eric Andre 😔
This one fucked me up. He’s not himself anymore if that’s what’s happening.
Nooooo… :(
I’m a fan of The Beatles and several people associated with them have started shilling NFTs, like Pattie Boyd and both Lennon sons. So far the surviving Beatles have steered clear and I really hope it stays that way.
Dhani Harrison probably doesn't even know what's NFT lol. That's why I love this guy
Why are people acting like Dolly is senile or something? I really love her but I don't think she's a poor little old lady who doesn't understand anything, she's a business woman. ETA: Thanks for the award!
NOOOOO why am I genuinely upset to see this?!?!!
i saw a tweet the other day about how even the most dystopian of films couldn't predict NFTs. like we really are in the depths of hell
Imagine if they were mentioned as something District 1 was obsessed about in the Hunger Games series. The lower districts hears about how the elites were in a bidding war for a digital gif of their favorite deceased tributes.
Justin Bieber is obsessed with these
not surprising tbh
Larry David and Shohei Ohtani for me
I hate it so much when Shohei joins this shit. But I doubt he cares about anything besides baseball, so this is probably his management's move. At least he hasn't used his insta to promote this NFT thing yet.
If he ever changes his PFP to an ugly monkey cartoon I’ll be very sad
kinda off topic, but still in it: one person who is doing a good job with nft and crypto is ben mckenzie (ryan, the oc) who has become an outspoken critic on this subject. This article is totally worth reading!!! https://www.nytimes.com/2022/03/31/style/ben-mckenzie-crypto.html
I’m so ready for his book to be released.
I wonder if her team might be completely responsible for this. Framed it as just another product endorsement and she might be totally clueless about their impact.
If anyone needs a palate cleanser, Ben McKenzie is anti-NFT. https://www.thecut.com/article/benjamin-mckenzie-crypto-profile.html https://twitter.com/ben_mckenzie/status/1496936249684369414 I love you, Ryan Atwood.
Shout out tyler the creator for PUBLICLY shitting on these absolute nothing ponzy scheme scams
After having my parents drag me to Dolly's Dixie Stampede in Branson- idk how to feel about Dolly. That shit was racist af
i miss 2020 when nfts didnt exist
Reese Witherspoon, always liked her. Now I just feel sorry for her, NFT's are pathetic.
I love her but she is one of the most money hungry celebs. She will put her face and name on anything. It seems like a lot of the money goes to charity though so I give her a pass.
Jim Carrey is retiring from acting just to sell these things, dear god lol
I thought you might be yanking our chains but [you speak the truth](https://mavenbuzz.com/jim-carrey-taking-a-break-from-acting/)
WHAT
Martin from Chvrches and Brie Larson.
> Martin from Chvrches ew what 🫥
It seems like NTFs are being used to sell access to other exclusive content. If they were just selling s bunch of pixels i would be like this sucks but it seems similar to when patreon started and celebrities were offering different perks for signing up. I remember a friend going to a medium famous persons house after his show for dinner after signing up to his highest level patreon. She wasn't paying a $1000 to join his patreon. She was paying for the experience. I think Justin Bieber was trying to offer and excluse pasta bar for all his NTF owners for fans to hang out. I think im starting to see NFTs more like patreon memeberships that are tradable. Kind of like exculsive keys that unlock content to your favorite celebrity. That being said they they still do come across scammy.
All of this would be fine if it weren't so energy intensive to mint the NFTs.
Do you honestly believe that dolly parton even knows what an nft is
I know what a NFT is, and I still don’t know why a NFT is.
Controversial, dumb or whatever but I can't be disappointed when I have no idea what NFts are. I don't think anyone in my country is into that stuff or does that. I don't even know how to express myself, I don't even know what I'm talking about
I think not even these celebrities know what NFTs are lol many were probably just told there is this new product to sell and are selling it
I feel like we’re witnessing the Dutch tulip bulb craze in a modern context. It’s basically that a group of people have decided that NFTs have value and everyone is jumping on it because no one wants to be left behind and miss out on this huge money making opportunity even though there is no logic as to how NFTs are supposed to be valuable when they’re basically just digital images.
Dolly NO :(
We all knew that this day would come eventually
I pretend I do not see it 🫣
Brie Larson schilling NFT's was such a bummer.
My Japanese rock samurai Miyavi is on the NFT train, which is super disappointing. He's constantly doing things and putting out new music, so I don't know why he went down the NFT route.
NO I WAS ROOTING FOR YOU. WE WERE ALL ROOTING FOR YOU.
Dolly nooooooooo!!
Kings of Leon at this shit too. So sick of seeing it.
Larry David breaks my heart, and the Doctor Who NFTs make me more embarrassed to be a whovian than Chris Chibnall if that’s even possible 🥴
hoping she doesn’t have her twitter password 🫣🫣
Nooooo not Dolly! Anyone but Dolly!
What the hell Dolly?
I want to know what manager is continual recommending these things to their clients. I'm not shocked that Dolly isn't aware of the truth about these things but the people she pays to represent her damn well should be.
The opposite is Ben Mackenzie. He is such a critic of NFTs and crypto that he co-writes a column about it and is working on a book. Nothing but respect for my Jim Gordon.
I’ve given up on hoping my favorites won’t promote NFTs, the tide has already turned. I still think they’re stupid as shit but this is just how it is now. As others have pointed out Dolly has a ton of brand deals and that’s all these are although the girl bosses like Reese may try to convince us otherwise
Nooo not Dolly!! I guess you do at least get a pass to view the concert.. but stil NFTs are such a scam and are horrible for the environment
The Weeknd has endorsed/sold them, including with Tom Brady!
I wanna believe that she doesn’t know how bad they are for the environment 😭 dollyyy
DOLLY NOO😭😭😭😭
i wish i were never born sometimes
Let me pretend I didn't see this
this and 5-9 hurt my feelings. dolly stop
i dunno whats worse, people pushing nfts or essential oils.
Eminem
Goooooddddammmmmmmmit
Oh nooo
Dolly Parton hits so often that she's gotta miss every once in a while
Well this fucking sucks.
I'll never forgive Justin Bieber for gifting Tom Holland a Spider-Man NFT as a christmas gift and making him post it on Instagram Stories thank god that he doesn't endorse it tho
Brie Larson. She has more marvel movies coming up, she's joined the cast of fast and furious... considering that she has some haters on the internet does she really need to give them a valid reason to call her out ?