this post was submitted on 17 Aug 2023
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Leopards Ate My Face

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Purchasers of worthless digital monkeys sue worthless digital monkey auction house after realizing that worthless digital monkeys are worthless (arstechnica.com)
submitted 2 years ago* (last edited 2 years ago) by LeanFemurs@lemmy.world to c/leopardsatemyface@lemmy.world
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The Sotheby's auction house has been named as a defendant in a lawsuit filed by investors who regret buying Bored Ape Yacht Club NFTs that sold for highly inflated prices during the NFT craze in 2021.

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[–] ActionHank@sopuli.xyz 8 points 2 years ago (1 children)

Its not though, the signature and the digital art are stored separately. Their association only exists within a controlled a system. So that, you don't actually have a signature attached to art, you have a signature associated with art, and only when viewed through a website such as OpenSea. You're not investing in the infallibility of math. Your "investing" in some joker with an httpd server, who pointed two records at each-other in a database, the same way any other database works. Imagine someone giving you a number, and saying somewhere there's some art that this number means you own. You can check to see what art you own, only by plugging your number into my software... that's what you've purchased.

[–] FrankFrankson@lemmy.world -1 points 2 years ago

Its not though, the signature and the digital art are stored separately.

They don't have to be. That is just how it was done to sell thousands of stupid pictures of Apes, Cats, more apes and whatever else stupid crap they made thousands of iterations of.