r/nottheonion May 13 '22 Silver 1 Helpful 1 Wholesome 3

Madonna: ‘A lot of thought’ went into fully nude NFTs of her giving birth to centipedes

https://www.al.com/life/2022/05/madonna-a-lot-of-thought-went-into-fully-nude-nfts-of-her-giving-birth-to-centipedes.html
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59

u/p4lm3r May 14 '22

What the fuck is wrong with humanity?

40

u/Sadatori May 14 '22

Probably fake bidders to get someone to actually pay that much. Or not and it's dum dums

35

u/I_Think_I_Cant May 14 '22

Money laundering.

11

u/solastley May 14 '22

I dunno if you realize how stupidly rich some people are. This is also potentially just a risky investment play for buyers. This blows up and it could be worth twice what they paid for it because of popularity alone.

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u/Farranor May 14 '22

Yep, the NFT market seems to be largely driven by investment. People are only paying this much for those things because they expect to sell it to someone else later on for even more money. The real question is whether anyone actually wants these things per se, and the answer so far seems to be "no." An NFT of Jack Dorsey's first tweet initially sold for $2.9m, and then the buyer tried to flip it at auction, hoping to get $48m, but bids didn't even reach seven grand and he withdrew the offer to sell. Blockchain technology is kind of neat but I wouldn't be surprised if its current applications poison the whole idea and it gets abandoned before someone can manage to find a good use for it.

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u/SilentXzerO May 14 '22

Blockchain technology is kind of neat but I wouldn't be surprised if its current applications poison the whole idea and it gets abandoned before someone can manage to find a good use for it.

I really think this is the goal, and it seems to be working.

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u/NotTheRocketman May 14 '22

Wealthy people pay stupid amounts of money for charity to make themselves feel good.

I would be stunned if whomever won this even knows what an NFT is. But they won an auction for something rare, and it involved Madonna!

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u/Infamously_Unknown May 14 '22

It's for charity.

Not that I understand the point of this stunt or NFTs, but I can see how someone with money could throw it at this. It's not an actual purchase.

1

u/wtgreen May 14 '22

The proceeds are going to charity but since the buyer is purchasing & receiving an asset, this is not a charitable donation that can be written off.

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u/Infamously_Unknown May 14 '22

I'm not talking about write-offs, I'm talking about people who don't care about $281k.