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This has to be a scam of some sort, but i don't even see how the people at the top are making money.

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[-] TehWorld@lemmy.world 20 points 1 year ago

This one is actually pretty straightforward. The middleman here charges interest and hopes the borrowers default so they can sell the assets at a profit.

[-] Shere_Khan@lemmy.dbzer0.com 5 points 1 year ago

But how is a repo'd nft worth anything?

[-] KeepFlying@lemmy.world 4 points 1 year ago

Pro ably not worth millions or anything, but I'm sure some schmuck would buy for $10 a pop at least.

[-] LufyCZ@lemmy.world 2 points 1 year ago

How is a sealed comic from 1967 worth anything?

Same thing, because someone will pay for it.

[-] SomeoneSomewhere@lemmy.nz 1 points 1 year ago

Presumably it's worth the same as it would be if you simply sold it.

this post was submitted on 24 Jul 2023
120 points (100.0% liked)

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