Weren't all those ape NFTs brought with monopoly money anyway? I mean, buying a ... | Hacker News

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		michaelt on Nov 28, 2022 \| parent \| context \| favorite \| on: BlockFi files for bankruptcy as FTX fallout spread... Weren't all those ape NFTs brought with monopoly money anyway? I mean, buying a $1M ape NFT with real money makes no sense - but if you were Sam Bankman-Fried and you had an unlimited supply of coins you knew to be worthless, you're just swapping something worthless for something maybe-worthless, which is much easier to explain.

deltree7 on Nov 28, 2022 [–]

No, when you bought an NFT for X Coins, at the same time you could have bought Y dollars.

So, the NFT did really cost Y dollars and if it's trading at Z, you have lost Y-Z dollars

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