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      • merc@sh.itjust.works
        18·
        2 days ago

        The two aren’t even remotely comparable. A timeshare may not be as valuable as you thought it was, but it exists and you can use it. An NFT is basically an entry in a star registry, but the people think (or at least thought) they actually own the stars.

        • pruwyben@discuss.tchncs.de
          6·
          2 days ago

          On the other hand, with an NFT you’ve just thrown your money down the toilet, while timeshares will keep charging you fees and are incredibly difficult to get out of (and the services that supposedly help people get out of them are often scams too).

          • merc@sh.itjust.works
            5·
            2 days ago

            True, but while you’re still paying those timeshare fees, you still have access to the place.

            The real difference is that a time share is never thought of as an investment where you buy low and sell high. It’s thought of as getting a good deal on something you plan to use. For it to be similar to an NFT it would have to be something like a dude in Nebraska buys a time share in Australia and then tries to make money from Australians or something. AFAIK almost everybody who buys time shares does it because they plan to use the place as a vacation property and actually do use it that way, at least for a while.

            • baines@lemmy.cafeEnglish
              1·
              2 days ago

              i mean i’m not really trying to defend nfts because fuck they are a scam but worst case you just lost the money spent on the nfts

              sure i remember people having their wallet stolen but that’s not inherent to nfts so much as stupid people doing risky things following a fad, they could have just as easily used a sketch market (like many of them did)

              for the timeshare i’m talking about you buy a share of a condo in hawaii/florida then there is a 60k repair fee for each person sharing it and it’s not a scam, just part of the possible normal upkeep the person didn’t bother reading about

        • TrickDacy@lemmy.world
          75·
          3 days ago

          None of these dipshits own their stupid useless pixel art either. They fell for a scam that doesn’t even have anything of potential use, unlike a timeshare, which you could actually potentially use. Not the burn op thought it was.

              • ✺roguetrick✺@lemmy.world
                56·
                2 days ago

                No, but it’s baffling to me that folks don’t seem to understand that timeshares with recurring maintenance costs that can only be discharged by paying someone to take them or bankruptcy aren’t worse. If people aren’t careful you can die and the damn things might get inherited, continuing the extraction misery. They’re a whole different class of financial mistake.

                • vrek@programming.devEnglish
                  13·
                  2 days ago

                  I remember going to a presentation trying to sell timeshares back in the 90s. I was on vacation with my parents in Orlando Florida. If we went to an hour long presentation selling us time shares we would be given tickets to Disney world for 3 days and up to 4 people per party.

                  I have no idea how they afforded to do that, I know we didn’t buy one and I just read a book(i think I was about 10) while waiting to go to Disney world. We did get the tickets and Disney world was enjoyable.

            • TrickDacy@lemmy.world
              181·
              3 days ago

              Yes, it’s a one time waste of a large sum of money. Not entirely sure why that’s supposed to be better. Congratulations, you got a jpeg. Bet it was worth $15,000.

            • jaybone@lemmy.zipEnglish
              4·
              2 days ago

              It’s weird, I’ve met people who are actually happy with their timeshare. And are talking about buying another one! I don’t get it. But maybe it depends on how you vacation I guess.

            • anomnom@sh.itjust.worksEnglish
              1·
              2 days ago

              Hosting fees, plus the computing costs of continuously visiting ownership for how every long people care about them.

              Feels similar and instead of Hurricane trashing the condo, it’s just what happens when you forget to back up the drive you saved it on and lose the key.

    • friendlymessage@feddit.org
      85·
      2 days ago

      Not really the same, I mean, Beanie Babies actually physically exist and require work to be produced. You could compare it to Labubus, Warhammer figures or collectibles of any kind but NFTs are just peak worthless stupidity with no prior equivalent

    • Blackmist@feddit.ukEnglish
      37·
      2 days ago

      And timeshares. And pyramid schemes.

      I remember my parents doing one of those weird chain letter things where you’d copy the letter to a few other people, send a few quid to the people on the list, and within weeks you’d be sent thousands of pounds, if only the scheme didn’t require more people than there were in the whole country.

    • johnyreeferseed@lemmy.dbzer0.com
      20·
      2 days ago

      Lmao apparently people still think they’re worth money. My 18 yo stepson said the other day how his mom could sell her beanie babies for “a lot of money!” We both just laughed. He thinks his mas produced Funko pops are gonna be worth a fortune one day too

      • KairuByte@lemmy.dbzer0.com
        13·
        2 days ago

        Theoretically, it is possible that 70 years down the line it might actually be worth something, assuming it is still new in box, undamaged, and it is of something that is still culturally relevant.

        But the chances are so slim as to make it a worse gamble than the stock market.

        • Neverbeaten@lemmy.world
          4·
          1 day ago

          After watching many, many episodes of antiques roadshow, I’ve come to a conclusion about what kinds of things appreciate and become investments and what things are worthless.

          Anything marketed and sold as a “collectible” is worthless after the fad has died down. People will hang on to them despite the bubble popping, in some sort of hope they’ll be valuable again someday. This guarantees they won’t become valuable because so many people have large collections and preserve them well.

          The things that are actually valuable after 30+ years all have two things in common.

          1. They are things that hold some sort of sentimental, cultural, or historical significance
          2. They are rare. Maybe they were mass produced things that were basically commodities but no one valued them enough to preserve any. The few that are preserved (usually by a handful of unrelated individuals that may be compulsive or eccentric) become valuable because of a large group of people nostalgic for those items coinciding with scarcity. Or maybe they’re historical documents or artworks that are truly one-of-a-kind.

          The things that become investments are exactly the things no one thought about collecting, but that were ubiquitous and loved enough to engender some kind of nostalgia or significance to a large group of collectors. If the demographics of the bulk of the collectors are in the 1% for some reason, then the values can get truly astronomical. But these also fluctuate in value as these rare items come into fashion to collect (or fall out of fashion). The more ephemeral or fragile in nature an item is, the more rare it is to survive for lengths of time and therefore the more value it could potentially have… things like cardboard toys from the 1920s can be incredibly valuable if they’re in great condition. Those were the cheapest toys and likely considered somewhat disposable back then. No one really valued them at the time, so very few were preserved.

          All that said, anything lots of people keep as mint as possible in their boxes will likely never be as valuable as when they were initially sold as new. Especially if “collectible” was a key marketing point for it.

        • Typhoon@lemmy.ca
          14·
          2 days ago

          Rarity is a huge factor for stuff like that. If everyone keeps theirs pristine because they know it’ll be worth something it won’t be rare and it’ll be worthless. Collectibles that are worth the most are things that people didn’t value as much at first and used them normally. They got worn and broken and discarded so it’s very rare to find one in good condition.

          People keep Beanie Babies and Funko pops in boxes so they’ll never be worth anything because there are so many good quality ones.

          • KairuByte@lemmy.dbzer0.com
            8·
            2 days ago

            To an extent I agree with you. The “problem” comes when people slowly start to realize that and open them or throw them out. At which point the items actually can become worth something. Though again, unlikely.

            Part of the problem with most collectibles “meant” to be “worth something eventually”, are packaged in such a way that they are “enjoyable” in the packaging. You can put a sealed Funko or Beanie Baby on a shelf and you’re looking at the item itself. There’s no reason to open them.

            If you truly want a “collectible”, purchase something like a game console and keep it in its box for fifty years.

        • BunScientist@lemmy.zipEnglish
          3·
          2 days ago

          I don’t know if this applies to funkos, but I recently learned that anime figurines will get sticky if boxed for too long, something plasticizer evaporating and having nowhere to escape to it sticks to the figurine and makes it kinda gooey and shiny, so I don’t know if you could have it “undamaged” in its box after so long.

      • BarneyPiccolo@lemmy.today
        629·
        2 days ago

        Years ago, the Ticket Me Elmo dolls were the hot Christmas gift, and nobody could find them. I happened to walk into Target after they had just set up a new display of their newly arrived shipment. I bought 10 them for about $30 each, and sold most of them for $150-200. The final one finally went for about $80 just before Christmas.

        Paid for ALL our Christmas gifts.

          • Dumpdog@lemmy.worldEnglish
            15·
            2 days ago

            Hear me out before you downvote a devils advocate opinion…I think all the downvotes on this comment are from concert ticket buyers, GPU buyers, Christmas fad toy buyers, and other victims of duopolies or false scarcity in the market (effectively monopolies?). Its not the “scalper” that is continuing to fuel the broken system, it is the corporations who promote false scarcity.

            I get the anti-scalper sentiment, but I don’t think BarneyPiccolo should be downvoted for making a few bucks on Elmo. It’s a case of hating the player and not the game. In this case they are not an arm of corporate interests buying up needed resources and holding them hostage, they are a victim in an unfair game that promotes scalping. This would be a different scenario if they were buying up necessities like toilet paper (shitty reference here), local affordable housing, or agricultural land.

          • BarneyPiccolo@lemmy.today
            213·
            2 days ago

            Do you intend to sell your house for what you bought it for? If you make a profit on your house, are you a scalper?

            Tell it to Wall Street. Supply and Demand, it’s what our entire economic system is based on.

            • Don_alForno@feddit.org
              111·
              2 days ago

              If you make a profit on your house, are you a scalper?

              If I had never intended to live in it and just speculated on rising prices? Yes. Take your fair share and leave some for others. Your entire reasoning is why the world is such a shithole.

            • RememberTheApollo_@lemmy.world
              9·
              2 days ago

              Because you don’t buy ten houses thinking you’re gonna deliberately fuck ten other people out of way more money than each house is worth because you wanna make a bunch of money. You’re no better than Ticketmaster or Blackrock driving up prices on housing and entertainment making them big bucks while fucking the regular person. Do you like Blackrock and Ticketmaster? Gonna engage in some gymnastics to tell is why it’s all Ok?

              • Dumpdog@lemmy.worldEnglish
                12·
                2 days ago

                I agree with your comment, but like I commented above. There is a difference between contributing to a broken system that exploits human necessities and surviving in a system. Ticketmaster has buying power, a corporate landowner has buying power. Not too many of us think Blackrock and Ticketmaster are good for humanity. Barney here buying a few Elmo at Christmas is actually showing people there is a problem without killing anyone (by taking away housing, food, arable land). Maybe people aren’t pointing the finger at the people responsible for this broken system.

              • BarneyPiccolo@lemmy.today
                45·
                2 days ago

                This is why Sociopathic Oligarchs rule the world. The first time a regular guy gets a chance to make money, everybody jumps on him. Before you get mad at me for finding a way to afford a decent Christmas for my family, get mad at the parasites who are working everyday to take away your medical care, your workplace protections, etc.

                I found a way to separate people with more money than sense from a small amount of their treasure for a change. MAGAs do it every minute of every day. I’m not going to apologize for exploiting people with money, just like they do to the rest of us every fucking day.

          • Mulligrubs@lemmy.worldEnglish
            27·
            2 days ago

            Why is it not okay to be a scalper? What do you mean by “not ok”, should it be frowned upon by others (like pooping your pants) or do you mean morally wrong (like a sin) or a crime?

  • Lvxferre [he/him]@mander.xyz
    161·
    3 days ago

    You know what, I got a brilliant idea:

    See, the chimp in my avatar is called Ai Ai. Was? I don’t know if she’s still alive; last news I could find about her are from 2005, when she stopped smoking. Anyway, what if I had artificial intelligence to create a bunch of her pictures, and sold them as NFT? The “AI Ai Ai collection”, or Ai³ for short. I wouldn’t do this to scam a bunch of suckers, noooooo; I’d do it because you can get rich, if you “invest” into my collection: buy an Ai³ NFT now, for just 100 euros. Then resell it for a thousand euros, for mad profitz!!!

    […I’m obviously joking. C’mon, this summer is easily getting past 30°C, in a city where it used to snow once in a blue moon. I definitively don’t want to feed the global warming further with dumb crap like this.]

  • Captain Aggravated@sh.itjust.worksEnglish
    10·
    3 days ago

    NFTs just slide out of my brain.

    I remember someone bought a piece of art, like actual bespoke art, that was NFT’d, for some millions of dollars. This created the dumbest speculative bubble I’m aware of when people were paying actual money for ugly randomized monkey pictures they could prove ownership of on the blockchain.

    It’s my understanding that NFT technology could be used for things like proving copyright ownership; a creator creates an NFT of his work as published, and then anyone attempting to plagiarize it can’t provide the NFT, kind of like PGP signatures. But it didn’t get used for that and that dumbass monkey bubble probably poisoned that use case for a generation at least.