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back to article Token prison sentence for first convicted NFT insider trader

The first sentence in a non-fungible token (NFT) insider trading case has been handed down, and at three months it's even shorter than the brief period in which NFTs were actually relevant. Nathaniel Chastain, former head of product at NFT marketplace OpenSea, was sentenced to just three months in prison after being convicted …

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  1. Anonymous Coward
    Anonymous Coward

    I don't understand this "nft" thing

    nor do I want to.

    Being the primitive neanderthal that I am, I only know that if I buy something, I usually want that something to be a physical item that I can take home!

    Subscription to Spotify for the last 13 years or so notwithstanding! (don't bother, I know I am sometimes a hypocrite)

    16 0 Reply
    1. doublelayer Silver badge
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      Re: I don't understand this "nft" thing

      At least the subscription to Spotify is something that can be used and you presumably enjoyed what you got to do with it. An NFT combines the weirdness of collecting something physical that doesn't have any real value except maybe someone else also likes it with the added benefit of the thing not being tangible and anyone who wants to have one can, just not with the collector's stamp attached. I'm surprised any of them still have nominal value.

      4 0 Reply
  2. trevorde Silver badge

    Perfect explanation of NFTs

    https://sebastianherold.com/ive-found-it-the-perfect-explanation-of-nfts-3a8242ca7f80

    7 0 Reply
  3. Philo T Farnsworth Silver badge

    Too bad. . .

    . . . he's not a multibillion dollar information broker. He'd've been fined some pocket change and let off otherwise scot-free[1].

    ________________________

    [1] No offense to those residents of the northern bit of the UK who have those accents that everyone thinks they can do but really can't.

    4 0 Reply
    1. Jonathan Richards 1 Silver badge
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      Re: Too bad. . .

      Philo jests; they awfy nice Scots willnae take offence (sp) at scot-free, because scot is a sort of tax. See also scot and lot

      6 0 Reply
  4. Tron Silver badge

    More detail...

    The prison has received a lifesize image of Mr. Chastain to paste up on the wall of a cell, and has the right to say that he is their prisoner for three months.

    19 1 Reply
    1. IceC0ld
      Reply Icon

      Re: More detail...

      oh I say, and again, well done that RegHead :o)

      4 0 Reply
  5. IceC0ld

    NFT = Not F-----g There

    SO, a fake ass product, begets a fake ass sentence

    colour me surprised :o)

    4 0 Reply
    1. Anonymous Coward
      Reply Icon
      Anonymous Coward

      Re: NFT = Not F-----g There

      I never noticed that one, I like it. The simplest explanation there is!

      1 0 Reply

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