The Embarrassing DOWNFALL of the Bored Ape Yacht Club

Thanks to Factor75 for sponsoring today's video. Go to strms.net/factor75_saberspark and get 50% OFF your first Factor75 box + Free Wellness Shots for Life! Two free wellness shots per order with an active subscription!
Remember those ugly monkey NFTs that were all the rage during 2021 and 2022? Whatever happened to them? Oh...you have no idea how bad things really are...
SUPPORT ME ON PATREON FOR EXCLUSIVE PERKS!
Patreon: / saberspark
FOLLOW ME ON TWITTER!
/ saberspark
BUY MY MERCH!
Merch: crowdmade.com/collections/sab...
_______________________
Video Credits
►Video Script and Research by Tom Oliver
/ tomoliver3d
►Video Script and Research by Saberspark
►Video Edits by Aficionados Chris
/ @aficionadoschris
►Video Edits by CosmicKeyframe
/ @cosmickeyframeproduct...
►Video Edits by ToonGrin
/ toongrin-com
►Thumbnail by Henri Yount
/ bviddycent
►Audio Edits by dBPony
www.dbcentralaudio.com/
►Avatar by Rishi
/ rishicoyote
►Intro Music/Outro Music by Hirosashii
/ hirosashii
_______________________
🎨Art of the Week by murkybag3221🎨
_______________________
▶Sponsorship and business inquiries: [e-mail]

[@Saberspark]

Thanks to Factor75 for sponsoring today's video. Go to strms.net/factor75_saberspark and get 50% OFF your first Factor75 box + Free Wellness Shots for Life! Two free wellness shots per order with an active subscription!

[@ivanhernandez9579]

Saber can you please do Top 10 WORST Disney Cartoons

[@Michael_Myers594]

You should do a quick review video on Minecraft mini series (yes that is the name of the series,it’s on KZbin and it’s about 10 people split into 5 teams who were kidnapped and forced into playing a survival game show)

[@ZanderGrant07]

@@ivanhernandez9579Or How About Boy Girl Dog Cat Mouse Cheese? No one ever heard of that show. Do they?

[@PhonePhone-sf8te]

25:35 Meteorocracy? lol

[@spicyclown7608]

28:53

[@BluffsCastle]

Sometimes I forget that NFTs were even a thing nowadays because now the annoying people have moved onto AI

[@bearerofbadnews1375]

AI is the new punching bag.

[@thedieselman5968]

I often forget about NFTs too. Should tell you how little of an impact they actually had.

[@harmonetheanimationaddict4419]

@@bearerofbadnews1375More like the new NFT.

[@CC-qx7hk]

At least AI is fun to mess around with

[@RockyBalKoa]

I enjoy using ai at my leisure, AI dungeon is fun, and chat gpt helps me with lore points. lol

[@Spicie95]

You forgot to mention their attempt at making a Bored Ape dating app, which was closed down very quickly, because no women signed up for it 😅

[@Red_Steampunker]

There’s also a video from Coffeezilla that talks about how the bored apes may be an elaborate troll. By basically 4chan users hiding racism and Nazi imagery. Look it up it’s actually insane.

[@anth636]

Not even AI women wanted to get on it

[@LathropLdST]

Should have kept as a bro hangout called "OMG There Were Roomates!"

[@p-__]

My farts are better than Saberfart's farts.

[@SharkRacer5]

Not even men signed up come ooonn think about gender equality here(joking obviously)

[@Verminator4]

That one tweet that said "It was easy to say that NFTs were a scam in hindsight, but also at the beginning and in the middle too" was the must succinctly I've seen this ridiculous fad summed up

[@CODA96]

''Your arrogance blinds you'' - Chancellor Palpatine, Star Wars Episode 3.

[@bigkirbyhj666]

I always said nft's was essentially tulip mania and beenie babies.

[@themightycongueror8383]

@@bigkirbyhj666 At least beanie babies have a use.

[@bigkirbyhj666]

@@themightycongueror8383 yep being adorable

[@Solo-Anarchist]

"If you don't know what an nft is, I don't want to be the one to saddle you with that knowledge" Translation: I don't even know myself

[@TheUnreliableNarrator64]

I bought a cool reddit avatar for 10$ not knowing it was even an NFT and than someone offered me 600 bucks for it and I was like "take it buddy". That was the extent of my participation in that stupidity. I looked it up like a year later and it was worth like 12 bucks 😂😂

[@hoze1235]

Warren Buffett

[@brawler5760]

Pfft, at least you got that bag

[@Klishar122]

Sounds like you were the winner in this case! 👍👍

[@vario6492]

Oh look we've got a Tony Stark over here 🙄 Jk xD

[@didgya]

Jelly? ​@@vario6492

[@souptaels]

Baby's first pyramid scheme

[@reeceford7640]

That is a perfect line. I hope you don’t mind I’ll be using it in the future. 😂

[@souptaels]

@@reeceford7640 go ahead lol

[@scienceofficerash8791]

Nice comment

[@p-__]

My farts are better than Saberfart's farts.

[@Smudge_the_furry]

@@p-__WAT I JUST SAW YOU ON ANOTHER VID WATS HAPPENINGGG

[@Pipkiablo]

The worst thing to come out of NFTs was watching an artist who tragically died of cancer in her 20s have her artwork stolen and turned into NFTs because she was no longer alive to do anything about it.

[@MusiciansRule07]

Qinni? Because that's the story that made stop laughing at NFTs and start despising them.

[@Pipkiablo]

@@MusiciansRule07 Correct.

[@bagelisdead]

i remember that. i like to point and laugh at NFTs and NFT bros as much as everyone else but that was unforgivably disgusting.

[@Yohoat]

Not defending NFTs in the slightest, but this is just bad actors being bad actors, and you shouldn't blame the tech. I'm sure many artists have legitimately had their physical art stolen after death before, it's just greedy people doing what they can for a quick buck. Like once a person dies, you can't really financially support that person, soo... what about movies that were written by somebody who is now dead, but the movie continues to make money for a large corporation? Is the money earned fine, because he's in the credits? What about people just downloading the images after the person died, is that just as immoral or not? Should we maybe hold the people paying for stolen art responsible, since the research is kinda their responsibility? Point being, I don't think this "came out" of NFTs, it just so happened to make good headlines. And look, the artist is remembered and credited, so clearly this wasn't the worst thing in the world. I'd imagine that there were way worse ones that never got caught. And again, this is just grifters and scammers doing what they always do.

[@vyncentsky8697]

​@Yohoat there's a difference with a Hollywood contract, permission to use art, and straight up theft. Doesn't matter if the artist is dead or not the new owners of their art have say in it and if the artist died without rehomeing their art then it's theft. Just because they died doest make it free real-estate. AI art is in the same category but in a different way slightly, and has stolen art from many people, so it too isn't exempt from my point either. Internet or not all it takes is 1 person to sue for someone and holding the other person accountable. REAL ARTISTS care about each other and get inspiration from others art, not steal their art because it "inspired them to copy it" there's a good and bad of the art world and its not hard to tell the difference.

[@TheXtremeBoltGuy]

As someone who's dad CONSTANTLY tried to make me turn all my OC's into NFT's (I'm an indie game dev), the fall OF NFT's will never cease to give me endless joy :)

[@Tavdogg11]

Holy shit really? Forcing property that you own into NFTs? That doesn't surprise me, but that fact it was your father... that's awful.

[@TheXtremeBoltGuy]

@@Tavdogg11 There's a reason he's not part of my life anymore... and that wasn't it, but it's funny to think about lol

[@Tavdogg11]

@@TheXtremeBoltGuy Damn. Glad you got him out of your life.

[@giwake]

@@dissraps eat dirt

[@shellshock10]

@@Tavdogg11his father wanted his son to actually profit from his own work, crazy right?

[@ZergrushEddie]

Regardless of success or failure, we all need to appreciate that NFT's created one of the most wonderfully absurd situations every. Seth Green was making an NFT show for Adult Swim when the main character was 'stolen' and the showrunners had to pay to get the NFT back. An animated character was kidnapped and the producers had to pay ransom. That is some Who Framed Roger Rabbit shit.

[@KetsubanSolo]

I'm still waiting for him to release the first episode

[@noobynoob138]

WHAT💀 That's absurd and hilarious.

[@lonerdreamer92]

"All my apes gone" will never *NOT* be funny

[@EphemeralTao]

That still makes me laugh out loud every time.

[@josebonilla3952]

Where is that from ? Lol

[@lonerdreamer92]

@@josebonilla3952 a random Bored Yacht Club member, appropriately enough

[@robinauseer499]

@@josebonilla3952a bayc member who was a victim of a hack and had all of his apes stolen tweeted that phrase, and it then went viral enough to become an nft of its own

[@joak82]

Also applies to Ken in SF6

[@Jonathan_Collins]

Every time I feel stupid, I just remember how some people actually spent hundreds and thousands on a crappy randomly generated picrew jpg.

[@sanstheskeleton8104]

Pictures which can be screenshotted for free.

[@prasetyodwikuncorojati2434]

@@sanstheskeleton8104 still wondering why people spent money for pictures of ugly looking chimpanzee, like if picture of much pleasant looking cartoon chimps never existed

[@deondrex18k]

Omg 😂 i remember somebody getting sued for doin that to a celebrity nft ​@@sanstheskeleton8104

[@p-__]

My farts are better than Saberfart's farts.

[@loggingfire1]

They spent their livelihood because "monke"

[@TenApplesforTime]

People also hated NFTs due to energy cost. Ethereum at one point used as much energy as the entire country Uzbekistan. It's decreased significantly since then, but they still use a lot of energy for something that has no use or purpose.

[@massgunner4152]

Oh yeah i renember that the government on a city shut down a mine because it was killing the grid.

[@bloodylupin]

dude eth doesn't work on proof of work anymore, better to study before commenting

[@Alkeeros]

Do you know what "at one time" means? Found the cryptobro

[@GothBatty]

The last company I work for had Boeing and Bored Ape as clients now I see why we had seven rounds of layoffs. 😂

[@frevazz3364]

Did you also work for WeWork?

[@NeilHaskins]

@@frevazz3364 That name's a touch ironic.

[@Kitsuniga_ri]

Fumble of the century 💔

[@turtleanton6539]

😅😅😅😅

[@kabubagachugu7729]

😂😂😂

[@revelare_xvii6269]

It’s crazy yet so predictable how abruptly NFTs fell off.

[@KaiserMazoku]

cuz it's all about AI now

[@helloolleh_dis]

I don't get how some png you sell on the internet can even be worth a penny

[@coreythepeanut]

@@KaiserMazokuMeaning… it was all a fad. And AI is simply the next one.

[@KaiserMazoku]

@@helloolleh_dis The trick is convincing some sucker that it's worth anything.

[@helloolleh_dis]

@@KaiserMazoku People who think about buying NFTS really have the brain the size of a grain of sand. They are just paintings but instead digital and worse

[@hypnospaceoutlaw3376]

"Somehow, The NFTs have returned!"

[@STICKOMEDIA]

👀

[@azel7056]

Ya think they give up by now….

[@zuzoscorner]

it is sort of like the "Modern Art" market. it will never work, yet keep coming back by rich folks

[@KanokYT]

@@zuzoscorner Considering they invested so much money into it and it's fallen in value so hard, they want some if not all their money back, so they try to make it relevant again. Rich people, usually have an audience ready to listen, so it's easier for them to bring that kind back from obscurity

[@1998topornik]

Oh no

[@UlshaRS]

You forgot about good old fashioned money laundering and tax evasion. NFTs took off because the galleries closed. Galleries reopen and a need for virtual artwork fades away.

[@kriegdeathrider7805]

Meh the gallerias don't matter for the people actually writing art off on their taxes they already have the directors of the gallerias on speed dial the pandemic didn't make any real art loose value it just significantly slowed how much they appreciated in value until the public could gawk at them again the nft thing legitimately seems like a pyramid scheme meant to try and lure the average person into the same kinda money laundering and tax evasion that the rich have always enjoyed, even got rich people to buy into it to make it feel authentic and real then like any good scam they pulled the plug and ran off with the money before everyone realized they bought something that could be stolen as easily as taking a screen shot leaving everyone who bought into it with completely worthless JPEGs

[@oomay1925]

It's crazy how it feels like not even a year ago NFTs were inescapable and now they're near obsolete. So relieving NFTs and crypto craze didn't end up being 'the future' as it claimed to be.

[@Eyclonus]

We can thank Dan Olson for his 2 hour video of talking without break, or time filler, or hyperbole how much of a scam all of crypto is.

[@gork4035]

Crypto is a great idea, but the way it was done didnt help. Having a currency not able to be managed and adjusted by a federal government is a great thing, it allows for the currency to keep its value without the issues of inflation, overspending, relying on a governments standing in the realm of global politics, and the fed trying to print more money to solve debt issues.

[@kuroro_z]

Bitcoin is no shitty digital coins

[@Drak976]

Bitcoin is bigger then all of silver now. Imagine thinking you should store your wealth in inflation bucks.

[@lillyie]

@@Drak976 let me introduce you to gold

[@RomWatt]

Most of these NFT projects were just ugly versions of these Flash avatar makers I used to play 15 years ago, it's absolutely not revolutionary.

[@p-__]

My farts are better than Saberfart's farts.

[@gokuxsephiroth4505]

Ikr? Dress up doll games were better than what NFTs had to offer. They looked more cohesive, at least

[@AspenBrightsoul]

Hey! Don't you talk shit on the Ben 10 alien oc creator.

[@fallen_vague28]

Not to mention picrews

[@blakksheep736]

It's just bad, overpriced picrew.

[@Neogeddon]

My brother was trying SO hard to get me into NFTs and the Metaverse because I'm an artist. The downfall has given me powerful "I told you so" ammunition :D

[@noxthemc7717]

At least some good came of this mess

[@AbramSF]

Dude the artists selling the NFTs didn’t lose money. All the people that lost money, were the ones buying.

[@Neogeddon]

@@AbramSF Let me clarify - I could have made a gorillion dollars but the embarrassment of being associated with NFTs post-2022 would never have been worth it.

[@evandaymon8303]

And to add on to that. Not only you personally may not lose the money doesn't mean you don't have people who want your freaking head on a pike for taking their money by selling them ntfs. Afterall people would be asking for there money back So glad you didn't fall for temptation and stay true to what you really are. A artist not a greedy scumbag

[@evandaymon8303]

That abram guy sound like typical nft bro back then would do to excuse the scummy part and forgetting the consequences of it afterwards where bunch of angry people wanting you dead for taking their money

[@LynnHermione]

a well known fact about supposed celebrity involvement in nfts. every celebrity seen shilling for nfts turned up to be signed to the same management agency. they were clearly forced to do it

[@ProfessionalKonigSimp]

The message at the end I 100% stand by. I went to a comic convention is cosplay, I found some random people also cosplaying from the same series. Instant friends. I didn't have to pay them, just had to buy a £23 con ticket lol

[@KBird204]

I may have to start going to cons because of this comment. Glad you got such a great experience from it. 👍

[@Deform-2024]

NFTs are far too unstable to make an empire out of. I'm surprised Bored Ape stayed around for so long.

[@AB0BA_69]

Unstable? You mean"useless", right?😂

[@severynjones9361]

It was definitely kept alive a lot longer than it naturally should've been. The dumbasses who put 500k into this couldn't afford for this to die. So they put more money, energy, and hype into it.

[@An_Entire_Lime]

​@@AB0BA_69 They are useless AND unstable

[@p-__]

My farts are better than Saberfart's farts.

[@tree_alone]

@@p-__my farts are betterer than p-___'s farts

[@Tkscz]

The funniest part of NFTs is that no one understood what they were. People, sellers, buyers and everyone else, thought the NFT was the image, but the image is more like a receipt for whatever blockchain someone bought into. The art in and of itself was worthless. So people didn't understand that when they bought the NFT, they were putting money into a very volatile blockchain that could go under at any moment, which most of them did. So their little picture is now worthless, but at least they have proof of their bad investment.

[@bjornskivids]

They bought a cell in a spreadsheet. Nothing more

[@3266393]

south park made a good resume about it

[@p-__]

My farts are better than Saberfart's farts.

[@discordiacreates6669]

Yeah... Someone tried to get me into NFTs when they were still popular and described the whole blockchain thing as buying a seat basically, they did legitimately admit that it was paramount to buying literal air and saw no issues with that statement, like... Air... Is free. We do not pay to breath so they were always a scam, some people just couldn't see it or refused to see it, but in their defense there was nothing there to see. Crypto itself is a cell block in a code, a glorified placeholder and you don't own the value itself, just the temporary right to hold onto it for a while. Real brainless if ya ask me, but when are scams not designed to prey specifically on the ignorant or cognitively challenged? I see this as no different and most of the people buying into it are victims, just sad how they can so easily turn around and become the scammers preying on others in turn in a downhill race to the bottom before it all crashes and burns

[@Darca1n]

​@@bjornskividsA cell with a link to the image hosted elsewhere, at that. Or in other words, vulnerable to linkrot, nothing to prevent other cells being made that point to the same thing, and generally just dumb. They bought a piece of paper with a link scribbled onto it.

[@user-yr3om5lx2y]

One big point he forgot to mention, is that if a company plummets all assets can be sold off to it's share holders, while as a nft has no assets to be sold off and has no value

[@raylopez99]

Uh, well, that's known as the "Cambridge Capital Controversy" in economics and the irony is that most modern corporations are worth a LOT more than the "bricks and mortar" "assets" they own... it's all in the intangibles like intellectual property and goodwill. But that's a topic way beyond the comments section of a random YT video.

[@rotisseriefriedpanda2282]

I was on a walk with my dog a while back and I overheard some guy talking to a girl about NFTs. He was talking about how cool it is to buy a portion of one and the girl was just completely silent the whole time. I had to let them pass me on the trail so I could store that memory in my head properly

[@rustomkanishka]

Don't forget some of these crypto bros tried to create a dating app based on this bullshit. Turns out, it was a sausage fest and shut down. Immediately.

[@frevazz3364]

Girl was probably thinking was excuse she should use to get out of this 😂

[@elhazthorn918]

She was totally dissociating. Did you see if she had Google's "still loading" spinning circle in her eyes?

[@tysondennis1016]

Women are wiser. This is proof.

[@PodreyJenkin138]

​@@tysondennis1016nah women have it easy and don't need to assume risk or have pressure to make money and be successful, that's the valuation criteria for men typically Women just have to be attractive, good at sex and not too insane (last part they always fail)

[@redpandagamer4332]

It’s almost like investing money into something with literally ZERO physical backing was always a scam

[@brayachdragonbane7529]

so the US economy!!!?

[@M50A1]

​@@brayachdragonbane7529thats the most crypto bro response ever. At least the US economy has the entire military industrial complex behind it as its backing

[@redpandagamer4332]

The US dollar was backed by gold, and still is. It wasn’t until we started printing way too much without getting more gold to back it. But the US dollar still has infinite more backing than something that doesn’t even exist

[@brayachdragonbane7529]

@@M50A1 you say that, but ive been against the concept of crypto since its inception, i was making a joke about the pot calling the kettle black... simply put because USD has no actual 'value' as it represents no actual backing, "in god we trust this debt to be settled" is on the money for a reason. like you said its enforced by the largest MIC in the world, so few people will ever say no to it, despite it not having any PHYSICAL value. its perceived semi stable, as opposed to the joke that is speculative value crypto relies on.

[@M50A1]

@@brayachdragonbane7529 Understandable

[@monstercombo007]

🎶"I Hate Every Yatch Ape I see from Chimpan-a to Chimpan-z" 🎶

[@ButterTofu1]

🗣🗣🗣🗣🗣🗣🗣🗣🔥🔥🔥🔥🔥🔥🔥

[@michaeliniga7958]

🎶🎵 Youll never make a monkey out of me🎵🎶

[@miss.mikizee]

oh you'll never make a NFT out of meeee 🎶

[@shelbybabcock8779]

“Oh my god! The bros were wrong! It was shit all along! They finally killed the monkeys” “Yes, we finally killed the monkeys.” “Yes they finally killed the monkey NFTs!”

[@monstercombo007]

​@@miss.mikizee 🎶Oh my god, They were wrong They we're fungible, All Along!🎶

[@EaglesQuestions]

Anyone who lived through the Beanie Babies boom of the '90s should've seen this coming.

[@selenawolf2466]

At least the beanie babies were cute, and an actual physical thing to enjoy. Those made sense.

[@TheRonnieaj]

But a LOT of these people didn’t live through the Beanie Babies boom. I’m in my 40s, which feels halfway ancient in social media terms, and I was an early teen when Beanies started. I will never forget the couple dividing them in court though. As a divorce attorney, that madness is the stuff of legend. 😂

[@PvtFlowers]

brother i lived through tf2 crates and stupid hats.

[@Ian-of9oi]

My dad asked me about NFTs. I told him you don’t actually own the rights to the art. He argued with me. Good thing he did not have the ability to buy any.

[@andrewkoster6506]

"only 1% of our attendees got snow blindness from our incompetence" AT AN INDOOR EVENT AT SEA LEVEL????????????????

[@Bacteriophagebs]

The other 99% wear glasses or contacts that, like all modern glasses and contacts, block ~90% of UV. Or they just didn't stay very long.

[@Eyclonus]

Capitalism Breeds """Innovation"""...

[@stavinaircaeruleum2275]

Trash taking itself out, lol.

[@rustomkanishka]

Honestly, you want to ask some of these guys, "how can you not see this is a scam? Are you blind?!" And these guys were like "let's make that true for 1 day"

[@tysondennis1016]

Well, I wouldn’t be surprised if they didn’t go blind. Those chimps give me eye damage without the UV.

[@CeHee123]

This and ai are the perfect way to show these tech bros don't understand art or care in the slightest. The entire point of art is to show someone's individualality, and these are literal duplicates mimicking something and stripping it of all of the actual creativity.

[@NoahGooder]

better yet another flipside of the art coin is to also invest into a persons skills who you want to see succeed. With AI that completely goes away because people can just generate something within a few degrees of region for free.

[@darksidegryphon5393]

Dan Olson from Folding Ideas put it best when he called Decentraland a child's form of governance and people have added that NFTs and memestocks are a child's form of finance and AI generated images are a child's form of an art movement. Children who spend too much time on video games and want the world to work like that.

[@lonesavior]

But money! Jokes aside, it was the biggest case of only seeing art as a path to money. Most of the "Web 3" crypto and NFT stuff was seeing artistic vision as something they'd need to deliver eventually, not the start of the creative process.

[@aaronabbey2604]

The point of art is to be a means of wealthy people to launder money and to dodge taxes. How else do you explain that a cabinet full of neatly stacked boxes of pills can cost millions of dollars.

[@Yohoat]

Don't compare AI, a tech that actually justifies itself, with NFTs that are completely useless.

[@floivanus]

The best part of bored apes was Seth Green saying how secure and awesome it was, before developing a show idea for it, and crying endlessly about having his secure IP stolen from him by some hacker 😂

[@massgunner4152]

The funniest part is that thief already sold the monkey for about 650 to some rando, so seth ended paying the scammed guy thousands of dollars for it.

[@jacobmoriancumer7588]

I think my favorite tweet I ever saw about these NFT's was a guy named IAmTheCarl who basically merged several thousand bored apes and posted the result. It made it apparent how utterly samey these particular NFT's were.

[@Navonex]

Remember everyone, owning a picture of a picture of an emerald mine, means you totally own that mine. Go get that bread.

[@dubspool]

Me printing out pics of gold bars

[@dylanstafford3414]

​​@@dubspoolThat's stupid! I'm printing DIAMONDS!!!

[@elleofhearts8471]

ah, so THATS where the musk family's wealth comes from 😉

[@JoshSweetvale]

A link to a picture!

[@fandroid6491]

​@@dylanstafford3414 Lol I'm printing netherite 💀

[@sierrajohnson717]

The way this happened feels very similar to the whole Beanie Baby thing. It’s kinda uncanny. “This’ll be worth money bc it’s rare, and someday it’ll be bought and I’ll be rich! I’ll collect a bunch!” Things are only worth money if someone ELSE is willing to pay it. If nobody wants to buy your extra special 1/1 item, then it’s literally worth nothing.

[@sierrajohnson717]

And they were buying them to sell them again: someone would have to want to KEEP the item at the end of the chain in order for money to truly be made. But nobody was buying them for the product, they bought them betting that someone ELSE would buy the product, and then profit. Everyone is selling, products from groups/brands keep launching, but the consumers weren’t BUYING from each other, and it all falls apart

[@PointsofData]

Investment bubble. That's what all of this is. It happened in the retro gaming market too. However in that case, it was outsiders swooping in, buying everything up and expecting to sell them at hefty markups. I wasn't looking to buy anything back then but I hear it was hell if you were a collector/enthusiast. There was also an auction company and grading company (company you send something into and they certify the condition of the item) who were in cahoots and trying to sell shit for insane prices. That million dollar Mario game you may have heard about? Yeah that was them. Absolutely not worth a million dollars, except to some idiot willing to pay that much. They were taken down and the bubble popped so the market has stabilized thank God but yeah, that's why it sounds so familiar. It happens in tons of different markets.

[@Khashmonet]

At least Beanie Babies were a real thing.

[@fishbiter9409]

@@PointsofDataIt's sad that everything people enjoy is now being ruined by hordes of profit seeking leeches. Can't just be a casual collector, you gotta fight for your hobby and be willing to risk financial ruin now. And of course, hilariously, that ruins the hobby for everyone and as a result the items lose value.

[@PointsofData]

@fishbiter9409 Nah. Once the bubble pops the investors leave (hopefully at a loss) and the collectors are buying and selling at mostly expected prices again. Like I said, the market is now stable, which means prices have fallen back down to around what they were before (not withstanding factors like inflation.) And you don'f need to risk financial ruin; just wait it out. Collector items will never lose value unless no one wants to collect them. And retro games are nowhere near "no one wants to collect them" status. The vast majority are still playable, and many people right now are in that stage of life where they want to revisit their childhood or revisit what they never got to experience (emulators are possible but some prefer the real hardware if they can afford it.). Beanie Baby collecting is also still going for the record, the prices are just more like tens of dollars instead of hundreds of thousands for most. Stuff like NFTs tho...there's no nostalgia. There's nothing you'd want to go back and experience. There's no other uses for them, except MAYBE events that pale in comparison to far less expensive cons/concerts and the vague hope you'll get rich. Although honestly, same thought for "you don't need to risk financial ruin" applies here...just wait it out and you can get a funny monkey for hundreds of dollars instead of millions lmfao. But that implies someone is a collector, not an investor.

[@negativezero8174]

All the NFT bros moved onto AI art and they make the exact same arguments. They always say things like “Afraid of technology bro?!” Whenever you criticize anything.

[@homuraakemi493]

You're just afraid of technology bro lmao

[@negativezero8174]

​@@homuraakemi493 Our lord and savior Ted Kaczynski > Skynet

[@nonna_sof5889]

Apparently their "game" had some problem with its RNG that made it easy to bot. That allegedly random maps weren't random.

[@Dlark17]

Can't believe you actually mentioned Miladys - I had a friend who worked on that project, and got suckered into the Crypto grift that way as an artist. They are INCREDIBLY scummy - my friend was lovebombed and pressured so badly, he thought the admins had his devices bugged and would come after him and his family if he tried to back out... which lead to him publicly taking his life in October '22, only months before the NFT bubble burst. It was tragic, devastating, and permanently turned me against the Crypto community. Miladys are a destructive cult, and I hope their leaders rot in prison.

[@GracefullyAutistic]

Wow, that is fucking terrible. I'm so sorry that you lost your friend, especially in such a messed up way. ❤️😞❤️

[@Kewlg07]

The fact that stuff like this is just going under the rug disgusts me.

[@aessseoseo]

oh my god that is awful. I'm deeply sorry about your friend. The past few years really sucks for artists. First it was NFT, and now AI art.

[@KaosEngel]

I am so incredibly sorry about your friend ❤ your comment led me down a rabbathole and yeas there are people involved that are beyond scummy. I am sorry your friend got roped into this.

[@shellshock10]

What a coward

[@Just_a_commenter]

Part of me wants to empathize with people that lost their shirt on the whole NFT side of things... They're still people at the end of the day. Garbage and greedy people, but people no less. Then I remember how insufferable NFT bros are and that they probably jumped ship to go into AI "art" as their next shameless cash grab. Your jpegs were never valuable, tech bros. Eat your heart out.

[@brayachdragonbane7529]

people does not count as 'good' remember, nearly every atrocity comited was comited by people

[@heyyodude8637]

@@brayachdragonbane7529the OP never implied people = good

[@Just_a_commenter]

@@brayachdragonbane7529 Oh, for sure. I never said they were good people, just that they were people. And of course, people can absolutely be monsters who don't deserve an iota of pity or empathy.

[@brayachdragonbane7529]

@@Just_a_commentersaying they're still people as a point of empathy implies positivity. just a passing thought; stupid should be punished. (this is not to say that Ignorance should be punished, ignorance is correctable, stupidity by definition is not)

[@danielamaria6810]

Nah... they where all adults, they choose to be stupid.

[@jeremygregorio7472]

So if anyone is wondering what happened with nfts, in America we have a huge tax Dodge where you can buy art like paintings and stuff and then donated from massive tax write off. The federal government and the IRS closed by loophole and the rich tried to use nfts to maneuver through it The IRS ruled that nfts were just like a painting or any other piece of art and so they didn't evade the taxes. As soon as that happened nfts became worthless

[@ci6516]

No. Just no.

[@n.a.g.7383]

I'm a little concerned with how many likes this has gotten, but, don't you need to cite a few sources? not that I'm a reliable source either but I've watched only a few videos about nfts, and while I clearly don't know who or what people specifically were involved in all that, I don't ever remember anything about people trying to move money through nfts like that but if I'm wrong in doubting you, please, prove me wrong with a source /gen

[@claytopolis]

I think the reason people went all in on nfts like that is because we all heard stories of people who ignored stuff like the internet because they didn't think it would go anywhere and lost out on getting in early on an utterly massive thing. And some people are deathly afraid of making that same mistake.

[@NeilHaskins]

I see how viewing it like Bitcoin (or Doge) could give someone the idea that it's good to get involved, but at some point you've got to realize you've missed the ride. They say "if I had invested $100 in Bitcoin back in 2011 I'd have a hundred million dollars." And fair enough. But it's not going to go up another million times in value. Same thing here. If people are spending millions of dollars on these things, you'd think at some point people would realize that there isn't that much further up to go.

[@JoshSweetvale]

If you are incapable of trusting your own senses, and think the Emperor really _is_ wearing clothes, you need pills.

[@thewhitefalcon8539]

​@@NeilHaskinshow do you know it won't go up another 100x?

[@NeilHaskins]

@@thewhitefalcon8539 At some point the value becomes greater than the wealth of the entire planet. Unless space aliens are going to start accepting it, at some point you reach a cap.

[@CodeNameX001]

The whole UV light/blindness incident just feel like the most NFT-bro thing that could've happened: Buy low, sell high!! "We need to light this entire convention center! Let's buy these bulk discount medical UV lights. Also, YOU should by this $800 t-shirt!"

[@pogicus89]

Ironic, they spent millions on jpeg images that they themselves are unable to see

[@D64nz]

They were supposed to be black lights, which do look similar, but UV lights are no joke and as the name suggests will give an intense sunburn if you are standing close to them. Needless to say it's so much worse if you are looking at them for a few hours. The short term problems should recover soon but likely they did some serious long term damage too.

[@fietehermans9903]

Sotheby’s involved in a scam? The same auction house involved in price-fixing, money laundering and art smuggle? Who could have seen that coming?

[@CuppaLLX]

Inconceivable!

[@lionheartt15]

@@CuppaLLXI don't think that means what you think it does

[@XandateOfHeaven]

Legal Eagle did a great video explaining the problem with NFTs from a purely legal perspective. The biggest problem in terms of how it would work for artists is the fact that you aren't transferring any sort of rights to an image or creative work, basically just buying the rights to a hyperlink to that image. But more importantly, a lot of NFTs sold didn't necessarily have the rights to those images either. So in the end it you weren't really buying anything which was legally enforceable as being yours.

[@mckenzie.latham91]

The fact that the ape yacht club has gone essentially under While Saber Spark is still standing That's poetic.

[@elcatrinc1996]

Like they ever had a change in the first Place

[@astuteanansi4935]

Saberfart will always prevail in the end

[@Ko700el]

Out of my sheer stupidity i tried to make a transaction with a bored ape fun by sending him ( asked for that sum) a 800.000 dollar bill to give me his NFT.....he got fucking PISSED OFF...... I was like, Dude calm down, i have several nft's by pressing print screen and using ms paint and you actually fucking paid for this crap, i don't know who is dumber here, me for thinking this entire bored ape yacht NFT thing is a troll move from a company that people found it funny and continued it or you who actually paid real actual money for something like this. I think by pressing PrintScreen and then ediitng the picture at mspaint i gave more effort than the guy who made it and the sold you this garbage....He replied that my dad is a whore and blocked me from everything at twitter

[@tysondennis1016]

All hail saberfart

[@andrewaftontheandroidhedge2780]

saberfart always wins

[@soulsplosion6874]

the fact that NFTs are just adoptable characters for rich people is so goddamn funny to me... girls we were doing this on deviantart back in middle school. where's my million dollars

[@doefarris2189]

It's a classic case of our patriarchal society only valuing traditionally female jobs once men start running companies about them, is2g.

[@crownclowncreations]

I know right? 😂

[@SuperSisby]

I'm still around the adopt community and people can make a lot of good money off of it with their own rules for designs. Same with there being giant communities and prices based on how unique the design is and stuff. I've sold and bought adopts for good money. So it was strange seeing all this with NFTs and how it just felt... worse somehow. It didn't feel fun. I guess because it was all about the money, not supporting artists whose designs you liked or wanting to join their roleplay community, where your design could be drawn with dozens of other characters through active participation.

[@dr4go749]

​@@doefarris2189wtffff?

[@cromcccxvi3787]

actually it is the digital authentication of data.-- as we move into AI and deep fakes, that is important

[@cernunnos_lives]

Remember playing a game called "hot potato" in middle school? Kinda explains this.

[@lilyofthevalley2048]

When I first heard about NFTs, I was so confused because it sounded like you paid a bunch of money to “own” a digital picture that everyone else can view for free. I figured I must have been missing something, but the more I looked into it, the more I realized I was right. It really was that stupid.

[@zaphodthenth]

I saw this as a scam from the outset: as in what was being sold was NOT the image, but the REGISTRATION for the image: Which is like going shopping at a store, throwing away what you've bought, and taking home the store receipt. And starving to death because you threw away the food you bought: unless of course you can survive by eating store receipts.

[@cacophonousantiquarian8803]

You're allowed to go look at the food

[@zaphodthenth]

@@cacophonousantiquarian8803 but can't eat it.

[@cacophonousantiquarian8803]

@@zaphodthenth it's the most obvious scam ever

[@cacophonousantiquarian8803]

Oh yeah and everyone else can look at the food too, even without a receipt.

[@Levyafan]

It's like that one old scam where people were sold hypothetical plots on the moon or stars in the sky; obviously, those 'deeds', issued by some dubious private company, carried no actual authority or enforcement in any capacity. Much like NFTs, being simply receipts/links to the image, have zero authority or enforcement on who can actually possess the image file that anybody can right-click and save.

[@unlovabledingus9985]

Is honestly really weird how NFTs even became a thing Like seriously i can't be the only person that just sees something stupid on the internet and just think "oh yeah thats dumb, its gonna die in a few weeks" then immediately moves on

[@AbramSF]

I am really disappointed the way NFTs were used for scam stuff like this and killed the use of what they actually could be. Online tickets that could be transferred to other people.

[@hughmortyproductions8562]

@@AbramSF Transferable online tickets can be done without NFTs. NFTs just add unnecessary cost to the process. Every possible use of NFTs that I've every read is either possible without using NFTs or not something that most people actually want, or both.

[@anvos658]

Because its basically a get rich quick scheme, at its finest of do nothing to minimal effort and get money because you've convinced others nothing has a value greater than 0.

[@Cody_Ramer]

I really don't understand how so many people didn't realize it was a way to launder money.. If you are not part of that or extremely lucky to catch some sucker, you are going to loose.

[@Jasey357]

Pushed Pause. Pushed Print Screen. Used Trim. Pushed Print. I now own $2.7million monkey with crown picture! Any offers?

[@shellshock10]

Nah, because it’s a picture of the original. I have many pictures of the Mona Lisa…

[@fleedledeedle666]

Obligatory reminder Madonna the "Material Girl" fell for the NFT scam. Crypto bros/NFT bros, influencers, and even celebrities, we all love seeing fools with too much money quickly parted from it.😌🙏

[@helloolleh_dis]

Chowder

[@thebarberian246]

@@helloolleh_dis ngl, I saw your comment and it filled me with dread, thinking somehow Chowder got on the NFT bandwagon, but thankfully you were just talking about Fleedle's pfp, phew

[@grackleboi2523]

The sad part is the desperate people who were gifted into throwing away their life savings on this garbage.

[@helloolleh_dis]

@@thebarberian246if Chowder got turned into an NFT then I would cry in my room

[@GODOFAWSOMENESS1]

@@helloolleh_disI thought CN did try NFT or am I thinking of another company.

[@aldwinflores7029]

Theres actually a Bored Ape burger shop here in the Philippines and no one is going on their fastfood chain simply because its way too overpriced. Lol

[@ROFLobster4884]

Man, the bored ape logo is suspiciously similar to the SS Deathshead logo.

[@top-notch8277]

Alsothe "yuga labs " not to mention all the references to 14 and 88

[@skeletorishere4110]

A lot of the bored apes stuff intentionally references the nazi party. It's a whole rabbit hole people dive into

[@NovemberSky3]

Surprised I had to scroll so far to find this comment

[@Drak976]

There's a whole video that came out about a year ago about that whole rabbit hole and the people who made the whole thing.

[@camerantherollermain]

it’s always fun to witness a downfall, even the sad and bitter end of someone or something you once admired. bored ape yacht club is clearly not one of those things to me so i’ve got a big bucket of popcorn and an equally sizable grin

[@Reshumbox]

Why did you ever care to begin with? My thoughts since 2022 on NFT's have been "who gives a flying f**k, especially when the Atlantic ocean nearly brought to a boil just off Florida last year?".

[@camerantherollermain]

@@Reshumbox i didn’t. that’s what made it even funnier for me when the people who did all turned away from ‘em. i just thought the whole thing was kinda stupid

[@p-__]

My farts are better than Saberfart's farts.

[@Reshumbox]

@@p-__ how insightful, got any more bereft quips for us?

[@Reshumbox]

@@camerantherollermain ah, jolly good then.

[@tevkaber4604]

There’s also the edgelord neo-Nazi aspect to Bored Ape Yacht Club, not a coincidence that their logo is based on an SS design.

[@JuniperF]

Definitely looks eerily similar to the "Death's head"... Proably the closest thing they could get to a swastika and still have plausible deniability.

[@MusiciansRule07]

Philion and Ryder made that documentary with their whole hearts and I hate that KZbin shadowbanned it.

[@moonlightwolf]

The WHAT aspect??

[@LendriMujina]

Wait, seriously? I know NFT spaces tended to attract a far right crowd, but I didn't know that was _on purpose._

[@__Insanity_]

​​@@LendriMujinaDefinitely watch Philion's video. A lot of the imagery and symbols used in various promotions and even rhe NFTs themselves are ripped the nazis and racist parts of history. The creators are basically just edgy idiots from "that side" of 4chan

[@Island_Bag]

The use case for NFT was grossly misused it was supposed to be used to show unique ownership of real world and digital assets, like tickets to concerts, deeds to your homes, as receipts to youre purchases , the title/lease to youre car etc. Not what these scammers made it out to be, not that digital art isn’t a use case but these saw a way to manipulate the market and people.

[@Ned-bw5tt]

I could actually see some use for distributing concerts tickets on a decentralized blockchain for very low fees. Then if people wanted to sell on secondary, it's all verifiable.

[@PodreyJenkin138]

That's the most dystopian use case I've ever heard, I'd so much rather it be a scam for crappy art that imploded when all the rich people realized nobody poorer than them was buying it Could you imagine needing an NFT to access your car lease? Your deed to land? Medical files or anything important? You don't understand it's all on block chains which are public, you can't hide anything on it, if you know what to look for you can find any purchase or sale to date You can probably even see a good amount of them, the content the NFT basically points too I suppose you could hide the most sensitive data but 1 there's still a present, permanent and public block chain receipt pointing to it, so people can still track some info about you 2 why is this an improvement? No seriously why is this more efficient than what we have now? Which is basically compartmentalized information under different accounts and portals accessible by the individual who acts as the reserve matrix for all the login information It's all relatively private as long as nobody steals your info, hacks you or the company We are trading data privacy to the data holders, who are selling our info en masse to everyone and who knows what is really known about you but at least it's not easily abused by RANDOM PEOPLE

[@rwdplz1]

'AI' will be the next driverless cars: It looks like it's close, but isn't actually good enough to do real work, and be abandoned as scammers move on to the next hot target.

[@alexkieslingart]

I was an illustrator on YUGAs Dookey Dash! Hearing you confused as to how it looks 'exquisite' makes my day 24:18 . Many of us on the team dont really care for BAYC but we really enjoyed the project cause our ADs pitched a cool style.

[@3MolesInATrenchCoat]

Out of curiosity did anyone in charge of Yuga ever reference the origin of their company name or the logo for BAYC? Or was it just an in-joke they weren't open about?

[@triangleunderstander7801]

NFT stands for New Fool Technology

[@HiddenDarkHM]

As someone who put myself into debt because of an (actual) addiction to gatcha games I, to some extent, can understand the idea of attaching a value to a jpg that is not comparable to its real world value and holding onto that value to an emotional level. But where I draw the line with NFTs is the fact that one of the biggest things about them is just the primary purpose is just bragging rights, that feeling of superiority and flaunting of wealth. At least with my gatcha addiction the main drive was my love of collecting characters I loved because I loved their designs or gameplay. Their purpose wasn't to be better than anyone else, it was just to have something I loved, but it ended up hurting me deeply when it got out of control and I realized I'd developed an actual problem. NFTs are just rotten to their core, from the very bottom up there's just no GOOD to them.

[@skrrtskrrt2410]

Glad you're getting better king

[@HiddenDarkHM]

@@skrrtskrrt2410 Hey thank you mate, that's very kind of you. It has been an actual struggle but I'm getting through it and starting to pull beyond it.

[@jonplaud]

They went out faster than Pogs. Yes, I'm that old.

[@Ratciclefan]

As an artist, I was really bothered by NFTs, but AI is so, _so_ much worse

[@Ratciclefan]

Also, the scarcity part of NFTs was always a farce since literally anyone could mint new NFTs.

[@abbyelectric]

agreed!

[@TheMoodyfire]

u said it 😮‍💨

[@noxthemc7717]

As a writer, I feel your pain. I can't imagine what it's like as a visual artist tho

[@catobraincells]

if your mad about ai stealing your art, do something ai could never do: instill fear. draw the person getting railed by your oc. draw them pregnant. ai might be able to recreate the lines and colors, but they will never be able to recreate the revenge you feel. remember that as an artist you can draw ANYTHING. realize that power.

[@seelcudoom1]

the "you own the copyright to it" part always baffled me cus like, if every variation is its own nft does that mean if you actually wnated to use that nft in something the character could fo example never clothes or even expressions cus thats a whole different nft

[@gokuxsephiroth4505]

That's right! How are these TV shows going to work when they can't change ecpressions for fear of becoming another, different NFT?! I bet with enough of them, we would have two NFTs which hit the exact same variables except for happy vs angry expressions

[@entwixed3406]

@@gokuxsephiroth4505 That's the paradox. The more you attempt to make more NFTs, the less uses the NFT can actually have-

[@badlamprey891]

I feel like what doesn't get mentioned enough is that they weren't even paying 6 figures for a jpeg. They were paying 6 figures for a thingy that points to a jpeg in a very non-exclusive and replicable way. It's like buying a map with directions to a car dealership instead of the actual car.

I think it's unfortunate that the fads seem to get more annoying each time, and opposed to fads 20 years ago, adults are the people buying into them.

[@fullmetal-animator]

"Failure was probably the best outcome for everyone, here, if we’re being honest." -Dan Olsen, Line Goes Up

[@8bitarmory846]

@@qtips1719 might want to put the mirror down

[@thecaptain6520]

"I downloaded CP to prove that censorship is good, actually" - Dan Olsen

[@fireking6308]

@@thecaptain6520 I don't think Dan Olsen said that one

[@Krillacreat]

I first learned about Pudgy Penguins while browsing the toy section at Walmart. I initially assumed it was merch for an upcoming Club Penguin replacement. After learning what the concept behind them really was, my disappointment was immeasurable and my day was ruined.

[@nickm2629]

Man what I would give for a Club Penguin plushie

[@FubukiTheIcyKing]

Wait it's not just cute penguin plushies? Aw man I kinda wanted one......

[@Krillacreat]

@@FubukiTheIcyKing Sadly, no. It's part of an NFT project.

[@theworldsthreat]

Aww, what the fuck… I bought one of those for someone because it looked cute.

[@adamkalb1]

Congratulations on earning 2 million subscribers, Saberspark!😊❤❤❤💯

[@blademasterzero]

One thing that was fun was a small spin-off thing people called “EFT’s” standing for extremely fungible tokens. They were just cute pictures that supporting artists made and they were encouraged to be shared and spread

[@Werewolf.with.Internet.Access]

They’re literally called Non Fungible Tokens It’s a fancy way of saying “pay us enough money to put a down payment on a house or car, for absolutely fuck all in return”

[@mrgarybusey2052]

If you think NFTs are literally only about digital art then you don't know anything about Blockchain in general. Literally this technology has a lot more practical uses than the dumb digital art work ownership. The maker of this video has no idea what he's talking about.

[@generalrubbish9513]

@@mrgarybusey2052 Give examples. "Google it" is not an answer.

[@stargazer378]

​@@mrgarybusey2052 Found the cryptobro!

[@danilotoshiosirashigueruiz4312]

Uh oh

[@Vesperad0]

​@@mrgarybusey2052yes sire, please tell us more about the depth of environment-destroying scams sire, we need your input Mr. Bussy

[@RJS2003]

It would be more accurate at this point to describe Bored Apes as apathetic rather than bored. Their downward spiral towards irrelevancy has been one of the most entertaining trainwrecks I've observed in a long while and all they will feel or say about it is nothing.

[@_m.d.y_]

The vocal fry is killing me.

[@thoopsy]

They made me analyze articles about AI, write reports about AI, and use AI to edit my work in an online class I took. It made me wanna bite people, and I kept asking my professor, "How can I be sure I'm not plagiarizing someone else, if it suggests someone else's words?" They kept assuring me it's not a problem, but man, what a depressing place to be. Came to watch folks dunk on Bored Apes, now I'm just sad again.

[@kolliwanne964]

Technically it wouldnt be plagiarism, as its at least paraphrased.

[@thoopsy]

@@kolliwanne964 that was their argument too, but it still feels bad, you know? After an entire lifetime of "plagiarism is the devil! Use your own words or properly credit!" it feels weird that I can just... Let something else write for me??

[@kolliwanne964]

@@thoopsy That is simply called ghost writing. Which used to be illegal as well, because afterall your degree was supposed to show that you can manage this stuff on your own. The question simply arises to what extend new AI systems are classified as tools that are available to at any given time anyway, au contraire to a genuine ghost writer. And thus the entire issue is obsolete. There are already some unis that simply got rid of the bachelor thesis as a final task, and opted for alternative more practical approaches, because in their eyes ChatGPT made the bachelor thesis obsolete.

[@draconis17]

Don't forget that the poop game got hacked instantly because, iirc, BAYC didn't have any sort of protection and just left all the information you needed to hack it in easily accessible plain text. So people just made bots that knew what seed was generated and played perfectly, and BAYC had to ban the nfts of anyone who's score was suspicious (because the entry ticket nft doubled as the account itself) And then they had a problem with people selling the banned account nfts

[@Lucario1121]

Sadly people still think NFTs are a thing, there was a report about how when Pokemon first introduce their upcoming TCG game Pokemon TCG Pocket, the first question out of IGN's mouths were "Will there be NFTs in this game". Pokemon quickly dismiss that answer and basically said "f no please shut up"

[@phabiorules]

That’s part of the thing that was so funny. You had TV companies turning down Seth Green’s newest TV project because it was so reliant on NFTs, and they knew everyone hated them and wanted nothing to do with them. Meanwhile, you had square Enix still believing that they were the future and constantly pushed them.

[@martyrsaint]

IGN isn’t “people”. Don’t insult people like that.

[@FizzieWebb]

@@phabiorules I like to imagine they watched Ubisoft's Ghost Recon NFT's fail, and then changed their minds.

[@OrigamiShinigami]

That has me worried. Squenix CEO was hellbent on NFT game and stuff... have they figured it out yet?

[@Wolfie54545]

I don’t think you know how question marks work

[@Crazmuss]

Funniest part for me is that people was not paying for JPGs. People was paying to add a record to a public database, that they "own" JPG, available at a public link.

[@alexanderveritas]

Ah to think that a peasant like me never had the misfortune of investing into a single *NFT.* It often rings truth about the saying: _some people got too much money to spare._

[@PigeonLord]

the major difference between NFTs and AI is that AI actually presents a threat to the future of many creative careers

[@abbyelectric]

say it louder for the people at the back!! they're already starting to replace human employees with AI.

[@Nick-ue7iw]

If you can't create something better then a computer that regurgitates reddit stories as "content" you probably shouldn't be a creator. Just saying.

[@PigeonLord]

@@Nick-ue7iw it’s not about quality, it’s about companies and other people using ai generated images over human artists because it’s cheaper

[@coffeehousedialogue5684]

@@PigeonLord I'll take that future over a bunch of woke infiltrators ruining actual art that already exists. Look at what JelloApocalypse did to the anime Lovely Complex, for example. I wouldn't exactly call such people "creatives" or "artists." Why should I care about people that only cared about virtue signaling?

[@dopesickdog]

​@@coffeehousedialogue5684why should you care about people or art at all? If that's all it takes to ruin the entire industry for you

[@rimhellworth8614]

Don’t forget that they didn’t buy those photos for tens of thousands of dollars but rather a receipt of that photo

[@Bacteriophagebs]

They also got the rights to the image, and as Disney can tell you, the rights are usually the most valuable part. But as Amazon can attest, spending more on rights than they're worth can be financially very painful.

[@rimhellworth8614]

@@Bacteriophagebs didn’t courts rule that because the images were ai assembled that board apes didn’t have protected rights on the images so anyone could’ve used them

[@Wary_Of_Extremes]

a link....that would eventually break

[@Schnort]

​@Wary_Of_Extremes reminds me of that Who Framed Roger Rabbit game that, if I remember correctly, was made for the NES. You had to call a real-life phone number to get an answer to a puzzle. The phone line stopped being supported after 2 years of the game being released, making that section essentially impossible without a walk through.

[@TankHardcheese]

So I worked in a supermarket in 2022 and while I was walking down the aisles tidying things up, I overhear this tall black man who couldn't have been older than 30 explain NFTs to this small elderly white woman who couldn't have been younger than 60. It was a very surreal and cringe moment to witness.

[@Baughbe]

The thing is about NFTs, as I looked into them when they came out: You DIDN'T buy the jpg or whatever media you paid money on. You bought the rights to the computer memory space that image was stored on and the exact magnetic state of each bit in that storage space. And that was only on the server that image was housed on. You did not own the image unless the artist included image rights with the NTF storage space rights. Which most of the time didn't happen. That image could be on a thousand different servers. You only had the rights on the one server you bought the NFT on. And if that server went kablooey due to say, a lightning strike power serge, or accidental erasure, or the drive going bad due to age... you had no NFT after that. You may have copied the image to your own computer, but your own computer is NOT a server on the NFT network which NFTs are stored on. You now just have a copy of an image, and no NFT. The value was always zero.

[@thewhitefalcon8539]

No you didn't buy any rights

[@hopeeee_.-lollll]

Now people are finally realizing that a image of a 2d monkey means absolutely nothing in the real world

[@Gaia_BentosZX5]

And this will go double for the real world. AI will have no reasonable use in five years given it's a repackaged scam.

[@mix3k818]

The richest NFT still being worth $100,000 is pure insanity. EDIT: was just made aware that it was the asking price, oops

[@thekidfromiowa]

A fool and his money are easily parted.

[@bjornskivids]

"worth", LOL

[@TheAechBomb]

that's basically just what the person is asking for it, or its last sale price

[@An_Entire_Lime]

Is it worth $100,000 or is that just the amount of money the guy who owns it will sell it for? There is a big difference

[@quicksilvertheelegant3964]

I remember during this period, I became extremely fearful about my art. Specifically certain pieces of art I had on DeviantArt, because those were technically ‘copyright’ for my book, so when this really took off I purged every single one of them from my DeviantArt to protect them; I later did the same to every other art piece there when DeviantArt started to go to sh*t. I had heard about the artist who passed away getting her art stolen and turned into NFTs by some soulless monster, I had heard of other people getting their art stolen and turned into NFTs right before their eyes, I was not about to let my *highly important book artwork* get sabotaged by an internet goblin. Now my book artwork is exclusively profile pictures and any other artwork that’s usually game related is posted on Steam, not that Steam is pure either but there’s very few art pieces I post there anyway

[@BadWebDiver]

I feel for you. What was you username on DeviantArt?

[@AndrewWilson1991]

I'm glad I've been hesitant in posting my art online. Once AI came around, that sealed the deal for me. I'm almost getting to the point of moving to an exclusively offline machine to work on, I don't even trust being plugged in any more.

[@flyingstonemon3564]

Art theiving was already scary enough on dA, but with nfts, witch hunts and AI, I can only thank myself for not posting online.

[@neothpheonix8124]

Correction: (3:01) It not just a picture, it’s just a hyperlink to a picture. People who own nfts don’t actually own the art lol

[@lockerbuddy2039]

Saberspaek talking about NFTs is the most relevance NFTs have gotten in a while.

[@squeaker4341]

My aunt was talking to me about wanting to make an nft with dragons. Then she showed me a picture of one of the dragons. I asked her "why do an nft? You art level is way above that. You could do work as someone who does cover art for books? You could do so much more with your talent. Dont waste it on that nft crypto bs." She got a little upset with me. I told her that i loved her and that i had something else to do that day, gave her and my cousin a hug and left.

[@-napstablook-]

Good for you. I’m sorry you couldn’t convince her otherwise

[@frevazz3364]

Essentially owning a link to a server that could be taken down and disappear at any point 😂😂😂😂😂

[@robzonefire]

Imagine trying to justify gambling your entire savings on a monkey picture 💀

[@jenjoestar.]

Actual madness 💀💀

[@ImperfectXIII]

You know what, Saber? You had me in the first half, but then I got to the part about the NFT poop game and I... had to pause for a minute. WHAT. THE. FUCK.

[@uniquenewyork3325]

The whole concept where the game is about pulling the key out of a dead monkeys ass unsettled me so deeply that I need to watch something to make me forget, and it earned 450. Million.

[@AtticusKarpenter]

​@@uniquenewyork3325 greed is ugly, so yeah

[@ZeldaSam1]

What can be said. The NFT community is just THAT FUCKING RETARTED!!!!! Don't blame Saber for other people's UNFATHOMABLE stupidity.

[@PasteilloTheCat]

​@@uniquenewyork3325 THE ACTUAL FUCK- I'm terrified.. 😭😭

[@FoolsGil]

The best thing about Bored Ape Yacht Club was everyone in the Fighting Game Community memeing Ken from Street Fighter being scammed by the apes and losing his wife and son

[@Crisis-Comics]

I dunno, the Deep Space Nine skit was my personal favorite. "They stole my apes, Odo!"

[@ShunShunOri]

Ngl, the description of the game almost broke me. I thought at this point nothing about NFTs could shock me anymore, boy was I wrong. I was thinking a simulation styled game where you put together a city or something. Power to you for actually researching and reading the description.🥴😬💀💀💀

[@thecrabjail]

I remember picking up my Wawa order and saw an ad for Hoagiefest where they had a contest where the big prizes were "animated NFTs". I sent a text to my friend about it and they went "sooooo.... gifs?"

[@cofagrigusfan24]

Bored Ape Yacht Club gives a bad name to Yacht Club Games, the creators of Shovel Knight

[@Xenderman]

it also gives a bad name to concernedape, the sole creator of stardew valley

[@DarkEcho32]

The names sounding vaguely similar is nowhere near enough to make them look bad

[@SuperSmashDolls]

@@DarkEcho32Doesn't matter, this is arguably enough to start a trademark lawsuit about lol

[@DarkEcho32]

@@SuperSmashDolls no, it isn't isn't because that's not how copyright and trademarks work. A mildly superficial similarity in name for two products that are in completely categories and have absolutely nothing to do with each other does not give legal precedent for a lawsuit and would be immediately thrown out if either party tried. BAYC would fail because Yacht Club Games precedes it. Yacht Club Games would fail because the NFT scam isn't pretending to be them nor do they imply they're in any way related.

[@Smothtiger]

As much NFT sucks, it did bring us the perfection that is SaberFart!

[@LynnHermione]

32:24 can we give a round of applause to whoever wrote that headline

[@hissaigokagemusha3086]

nft was(past) a very cool technology that had fall in the worst hands possible, now become just a abandonaware.

[@AgarthanExecutioner]

Every time I feel stupid, I just remember how some people actually spent hundreds and thousands on a crappy randomly generated picrew jpg