Perhaps. Just—perhaps… investing everything you own into cartoon drawings of monkeys and whatnot is not the soundest financial decision one could make. Especially when said monkeys are stored on a virtual drive that has no recourse for recovery once you fall victim to a run-of-the-mill phishing scam. Sure, my assets may be vulnerable to the collapse of society, but at least up until that point, they're guaranteed by the financial institution that is using that cash for its own profits. Similarly, I'm protected from fraud by another, larger financial institution each time I go to transact.
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It turns out that something is not made inherently valuable just because it's non-fungible. There still has to be a value attributed to it outside of the non-fungibility that gives it worth… and you also need to be able to protect that thing once it has worth.
Overall, it's painful to imagine the loss that this crypto bro is experiencing—but that didn't stop Twitter users from having fun at his expense.
Keep reading to see the original thread and selected responses. For more, check out this NFT bro who tried to keep from paying his artist.
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