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DappRadar(C)

Are you also wondering who buys this?

yes, and will they ever get ROI when it's time to sell? cryptopunks doesn't look like it can be sold to someone.

i watched the movie LIFT on Netflix and they set some examples of how they could make some art become valuable but this runhaskell for $5M. AI can do better than that. it doesn't even look like it's art. these buyers used ADA and ETH to purchase them.

Perhaps someone or some group try to sell and pumping their NFT's price with this way.
Any NFT sold with decent price will become viral and its a free promotion for the other series/collection.

Explain that, I have seen these NFTs's sold at few places in January like some website news, some group and many airdrop news try to sell NFT's. Few holding man buy some NFT low prices. When the price of the NFT is too high, it sells one of them. There are many news of such NFTs being bought and later sold at huge prices. it is a strategy of promote there NFT's

The money laundering that was previously done with works of art and collectibles is now done with NFTs

These pixelated NFTs or even monkeys, for me, are a form of money laundering, I can't see it any other way, there's no point in having them other than to speculate or launder money. But even considering speculation, there are other, more interesting ways to speculate.

The question sometimes is who buys this piece for so much amount aside from the whales who gave plans for them at some point because most will rather find them uninteresting and will just ignore them.

Unless for those who have huge chunks of money and are looking for where to dump them, before now I thought that the NFT market was already losing its potential, but with all these pieces going for this high an amount shows that the market is still very much active.

It seems like some people who have lots of money at their disposal or whales just keep making offers on their own listings. This inflates the price and making it look like some very rich spent a lot of money on the ugly NFT.
I also think it's a form of money laundering by some bad actors. I gave up on NFTs a long time ago.

still baffle me how people are willing to give out that much amount of money just for the sake of a single NFT.
I mean if its like NFT that has some benefits, i could understand, but even then definitely not bidding it for this really high price.
but this NFT we are talking about millions just for an NFT i though the trend already fade but it turns out there's still lingering effect of NFT crazes back then that still survived until now.
because lets be frank here, talking about buying some NFT, the time we are bidding and our bid become the highest and we got the NFT, there's big chance that nobody is gonna be buying the NFT from us the next time.

I try not to worry about some things that doesn't make much sense to me, inasmuch as it's working for others, I'll just stay on the side and observe, so the whole concept of NFT I guess caters mainly for the super rich art collectors or enthusiasts. Except it's for money laundering as some people allege, it really beats me why some people will spend so much money on pieces of arts like the ones that are shared by the OP. They keep the piece probably to resale as an investment, hopefully another Moneybagg collector buys it, I can not liken these arts to gold and Bitcoin, that you can keep and be sure that it's valuable assets.

    Even if I am a rich person, I will never buy an NFT that is so expensive that I will never be able to touch it. I'm just going to spend that kind of money, so I'd rather buy art from galleries or museums, and at least I can bring it home and display it in my home.

   I don't know, because we have different beliefs and views when it comes to such things. In my honest answer, I would rather buy top crypto than NFT.

I agree with a concept like this, unless holding the NFT provides other benefits such as token release, advantages in games or applications related to the NFT. and not just pump and dump.

the scheme remains the same I guess making a hype project sell it then the hype goes down wait a while, do promotions again(while looking at market conditions), and then do the same thing again, and that also happens to new projects.

I'm not surprised who bought it because it may have been their class to enter the market like that, but in lower classes or levels the same thing happens.
It seems like everything is the same, only the values ​​are different, but the method is not much different.
the same way to play

Nfts are still a thing?  They had a nice run last bull but I feel like they are like altcoin bull runs.  They get a real nice one the first go around after that it's pretty much flat.  Have sales gone up since they bottomed out I haven't been following nfts much.

I personally do not see much potential much less a point in NFTs but seeing these prices will definitely make you think and wonder about who are rich and bored enough to buy these artworks

Art is subjective of course but how can someone be obsessed with these is my question? I do not understand the use of it aside from owning one and artists finally having a medium to make some good money otherwise it is just a picture on the internet that belongs to a specific someone

I have read in a few articles on the internet that the NFT marketplace is where a lot of black money is invested. Looking at the list of those NFTs and the price at which they were bought makes it more convincing as to why would anyone pay so much for such an art. I have never invested in NFTs, but its hype has never faded away and a lot of money is being circulated only for trading images. After meme coin, NFTs are one of the overhyped projects that I think is in crypto.

NFT may have been good in the beginning I don't follow NFT much many are profiting from it and many are losing everything without realizing it. Many of those who buy NFTs for commercial purposes, not for collection are frustrated that they are not even getting the purchase price at the time of sale. That seems less likely in bull season.

There are different NFTs. Artists make professional drawings that can be used to develop games, movies, website design, etc. Such NFTs can justifiably be bought for a high price. But, I don't understand who buys ugly pixel NFTs that a child can draw.

Either they are too dumb to fall for this NFT trap I mean how does it benefits them what will they do with this when they can do better art via AI tools available in the market and what is the use of NFT in first place? does it solve any problem? No, does it help making our life easier or can we use it in real life ? No. As I mentioned either people are so dumb or it's just a simple money laundering tactics and they are smarter to do it this way.

Not Just Cryptopunks. none of them look like they can be sold to anyone. who would buy these for that much money? Absolutely no one.
And no I don't think they'll ever get ROI. I don't even think they were bought for profit purpose at first place. these are all bought by rich people who don't care about money. otherwise why would a sensible person spent millions of dollars in a FT with absulotely no use.
Long time ago I heard that NFTs are used for money laundering. I don't know if that is true or not. and if true than how that works.  :D

Art world has always been quite intertwined with money laundering and tax evasion, so it is not that difficult to see that would also go into NFT world as well. As a big rich person, you could spend 20 million dollars on buying some famous art, and show that as cost, making you pay a lot less tax, and then you can turn around and sell it to some other rich person, who will do the same, and you will find another way of losing money.

This is the eternal tax evasion system that the wealthy are using. That, and the money laundering by criminals, get crypto p2p with dirty money if you can, then make up some NFT, and then sell it a lot to a crypto address that you own, then cash that out and say you sold NFT, and suddenly you washed your money.

It's true, NFTs are overhyped but that doesn't mean it's not generating good money. Non-Fungible Tokens trends for a year, more to illustrate that it have its season and chances of investors grabbing major profits become very low currently. Perhaps there are top NFTs in the system, we kick our best to become successful with these selected NFTs of our choice, always remember to hoop out when you've gathered quite reasonable amount, because none of us will wished for failed projects.