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From millions of dollars to under a grand: The dramatic fall of the NFT
(english.elpais.com)
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this post was submitted on 11 Mar 2026
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Technology
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What? You mean digital art that infinitely reproducible, can't actually be owned, WASN'T the next big thing? Oh jeez. I hope the metaverse succeeds and if not then AI surely will RIGHT?!?!
Hey but this cryptographic key says that I own it because I paid made up currency units for it or something
Hey but that made up currency I worked for by burning electricity, I mean MINING it.
Hey, but the recent changes means I earned that made up currency by proving I own more than you!
OH! It's an epeen thing! Got you! All the rich win. Congrats to them.
Does that require proof of wank?
My favorite thing is there are certain NFTs that are viruses that as soon as you do ANYTHING with them, they go and transfer all of the contents of your wallet to another wallet. Even deleting them triggers this action. So if you have unknown NFTs in your wallet you can’t touch them lest they trigger this virus.
How could this not be the future of commerce?
WHAT?!? I've never heard of that! That's nefarious! WOW!
I got it from a Folding Ideas video (the problem with nfts one)
But here’s a link actually detailing it https://www.gate.com/learn/articles/beware-of-unexpected-nfts-and-assets-in-your-wallet-they-could-steal-all-your-funds/7682
Edit: for those that haven’t seen the video it’s worth the 2 hour watch https://www.youtube.com/watch?v=YQ_xWvX1n9g