NFT's

[mrreality68]

Originally Posted by BobC

Kind of funny thing Jeff, saw a story on Yahoo talking about how supposedly all the Trump NFT's had already sold out. Speculation was that a significant percentage of them were purchased by speculators hoping to turn around and flip them for a profit once they had sold out. In the comments section someone then opined that these NFT's seemed to be like baseball cards that came out and were gobbled up by flippers/speculators, then were subsequently way overproduced by those creating them so that they ultimately lost all value as no one then really wanted them after all. Kind of interesting (and humorous to me) how those not into our hobby can view and relate to card collecting and how it may relate to such things in their view. Collectors like many of us are most definitely an extreme minority of the overall population. LOL

Yes my reading and limited understanding is that they sold $4.5 million worth (which sold) which Trump got. Then these speculators were reselling on the secondary market thinking since they were limited and sold out that the demand would be great to drive up the prices and they would score a profit. But many were selling for less then the initial prices and losing money