Stoner Cats NFT project declawed for being an unregistered security This week just got worse for married actor couple Ashton Kutcher and Mila Kunis – the US Securities and Exchange Commission has set fire to an NFT project they were involved in, Stoner Cats. Sales of the tokens funded an animated web series of the same name, which IMDB says is about "five house cats who mysteriously become …
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Secondary purchasers theoretically get the right to watch a TV series. Pretend the tech works: purchasers do get to watch and others don't. I pay about £1/episode for a TV series (it can take a while for the price to drop but I am patient and so far behind what is current that there is a steady stream reaching my price). Call six episodes $10 to buy, or watch and resell for $9.75 because of the 2.5% that goes to primary purchasers.
That original price of $800 breaks even after 3161 re-sales with the risk that some collector will decide to keep the series and end royalties before investment is returned. Clearly a business plan worthy of the underpants gnomes.
Plan B: repeatedly auction the NFT to my aliases at ever increasing prices until some fool bids more than $800 plus transaction fees + lawyer's fees + fines.
Well what do you expect from a bunch of Hollywood producers ?
They live a life of dreams. Reality only dawns on them when the police knock at their door.
Besides, who still thinks NFTs are a thing ? You're paying money for something you can see for free on Google Images.
What does "destroying an NFT", aka the ultimate vaporware, actually involve?
Deleting the bookmark to the URL that points to a JPEG of stoner cat from their company browser?
Deleting the "wallet" that's listed as the owner of that bookmark in whatever blockchain they used to pawn off their URLs that point to JPEG of stoner cats so that it can't ever be pawned off?
Deleting the actual JPEG of a stoner cat from the web server that's hosting it?
Cryptocurrencies and NFTs and all that nonsense are only good for self-selling; they have no purpose other than to perpetuate themselves. It's funny how all the people who bang on about how good they are, are people who've just made a lot of money buying and selling the things. They have no intrinsic purpose (or very little).
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