One of Ngannou's NFT was sold at 50 ETH.

[brackis1]

NFT's are currently in a beta stage imo, but it'll be even bigger in the next 3-5 years. You'll start seeing content creators and all sorts of entertainment companies connect the digital world with the physical.

Just to give you an idea of the type of money that's just starting to get involved..

https://autograph.io/

lol MP3s sold for like $2 each in their "beta stage" online.
Now we pay $10 a month for Spotify

The market is going to get absurdly saturated and nobody is going to want or need useless tokens from every person selling them. these pipedream future use cases are sold to sucker on a "get in now and buy random air for little because it will be worth tons later!"

 

[No Mas]

Did anyone actually pay close to that "50 ETH" price as the winning bidder, or was it just an inflated auction?

 

[BigDramaShow26]

I don't think many people thought those payment services were rediculous, or a scam or a pyramid scheme. They likely underestimated the value and the scale of digital transactions that created that value.

I am still very skeptical of digital coins and bearish on blockchain in general. Where would any of it stand the day after legislation is passed that subjects it to oversight similar to traditional banking? What if banks offered the same services without the need for coins or blockchain at all?

If banks could do that then they would have already. What you are more likely to see is banks using blockchain as a way to better manage their funds. Its a world wide thing so even if US starts to regulate, you would need every country to do the same.

 

[Bmurray]

If you don't believe in the long-term viability crypto & bitcoin, don't hold any
I don't understand people's desire to convince each other that its good or bad
Its like you're actually trying to convince yourself

 

[UrG00d]

If you don't believe in the long-term viability crypto & bitcoin, don't hold any
I don't understand people's desire to convince each other that its good or bad
Its like you're actually trying to convince yourself

I am one of the poor few who believes in communication as discourse. I am actually trying to seek understanding rather than affirmation. I Bitcoins make up like 7% of my investments but I don't see any real value in them. I'll probably just keep doing me even if you don't approve.

 

[josp1]

If Bitcoin is so valuable why does everyone talk about what it’s worth in dollars?

My only shortcoming when it comes to my understanding of crypto is I underestimate the stupidity of fools who continue to drive up the price.