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What The NFT?

If you sell anything online, are into ecommerce, then you probably know what an NFT is. If not then I’ll give you a short explanation.

Why Not Just Sell The Pictures

An NFT is a Non-fungible token. It sounds kind of creepy – ooogly to me. Like things you insert into your running shoes to prevent stuff from growing between your toes when you sweat, I mean what is “fungible” really. Anyway NFTs are something where on the one end, you have a buyer who has way too much money and wants to waste it faster than just lighting cigars with $100 dollar bills all day long (problem solved if they just send it to me – no questions asked).

Now here’s a guy who
can afford to buy an NFT

Then on the other end you have a seller who is either very serious about their “ART” and probably a total bore, or someone who makes a boat load of money off of what amounts to nothing and laughs their a_ss off all the way to the bank. The whole concept is in my opinion just ridiculous.

Now I could get into what an NFT is in more detail but I won’t. However I will tell you a little story about my wife and taking photos in our product studio and of course, NFT’s.

I’ll admit that I probably am a bit of a perfectionist when it comes to our online photos. At least my wife thinks so and who can argue. The other day though, she was setting up a new designer purse with a bag to store it in and the designer name on the storage box. These are purses not unlike NFTs, bought by people with way too much money to waste just because they can (disclaimer – my opinion, don’t email me please).

Well she was taking a lot of time setting up the purse, dust bag, storage box making sure the designer logo shows in the photos, and I started to razz her about being a bit of a perfectionist.

And then I said ‘those photos are going to be so perfect, and once you put the purse on our warehouse shelf you’ll never be able to duplicate such a setup.’ Then it came to me and I added, ‘why don’t we just sell the photos instead?’. Little did I realize at the time it would almost be like selling an NFT. Sure hundreds of people may see it on their iPhones or PC’s, but someone could own an original, untouchable digital representation of a photo she created and have the bragging rights forever! After 20 years I must be sitting on Billions of Dollars of NFT’s!

My wife’s reaction? Just let me say that if I put up an NFT of a photo of her gestures, they would have to list it in the ‘viewer discretion advised’ section.

Just a reminder, I believe my photos are in essence NFT’s. Any buyers?:

More What The NFT? useless factoids:

O.K. I lied. Heres a little more detail

A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. – From Wikipedia, the free encyclopedia

razz [ raz ]
verb (used with object)
to deride; make fun of; tease.

On May 11th, 2021 eBay made this announcement on its ebay seller_news_team section.

“Today we are updating eBay’s policy to include the sale of NFTs. In the short term, NFT inventory will be provided by trusted sellers who meet our high standards, across categories like trading cards, music, entertainment and art.”

Imagine ebay siding with the buyer when they lie and say ‘I never got it’. Dollars to Donuts ebay makes the seller give the million dollars or what ever back without a return…

So here’s the type of WTF…. I mean NFT’s that are selling.

Sold for $7.75 million

CryptoPunk #7804

Sorry I wrote all over your NFT – Get over it…

Have a nice day

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Posted in Our Blog - The Life of a Flipper

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