I think people need to take a step back. This isn’t and ponzu scheme, and it’s unlikely to be an investment. Part of the problem is that everything around digital currency is being conflated with NFTs, and everyone is stuck on the NFT being a digital image.
An NFT simply says you own something, and obviously the most popular version is an image. The image has no value - all you’ve effectively getting is an electronic ownership document. It’s no different to owning a painting - you own it, but you don’t own the copyright. If you buy Van Goghs Starry Night, that doesn’t give you the right to sell copies.
Somebody gave a good analogy earlier of trading cards, you buy them, you own the copy you have, you can trade it, sell it, but ultimately it’s worthless unless someone is willing to pay to complete their set. It might be an investment in 50 years time, but it’s probably not. As long as these are not sold as investments, I have no problem if someone wants to pay for owning an image they can display on their phone. Whatever you want to spend your money on.
At the same time, the NFT may offer benefits - buy an NFT and maybe the club holds a reception for NFT holders, or you get priority on some other offering. It could be anything.
The technology is interesting, but it constantly looks like a solution desperately looking for a problem. Someone mentioned season tickets being NFTs. Why? What benefit does it offer? Just because it could be done doesn’t mean it should be.
This is harmless as long as it’s not marketed as an investment. It’s just stuff you can buy.
Our sponsor exclusively speaks about them as investments. That is the problem.
Why is it? Do you just plough your money into anything else that's classed as an investment? No, you research it and decide if its right for you
But other investments are regulated with protections and compensation schemes in place for the investor.
So if I invest in a company and their share price drops from £10 to £0.01, I'm protected and don't lose my money?
Were Debenhams share holders covered when they went into administration?
Loss of capital due to stock/fund performance is entirely different to investing into a scam. If a regulated vehicle turns out to be a scam, you can claim up to £85k comp from the FSCS. You cannot do the same with any crypto or NFT
You're right but I'm not talking about scams. I'm talking about investments.
I can lose my money investing in a company just like I can purchasing a NFT of an animated robot fellating a monkey and not be protected.
On the other hand, I could make money in both scenarios and plenty of people have.
There is always risk.
People have jumped on the bandwagon of suggesting these guys are scams artists, involved in ponzi schemes with zero evidence to suggest it's true purely because they produce NFTs.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
This... the technology will definitely be huge in future, but not in their current format. At the mo just being used as the above along with people using them as a tax write-off
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
Are you suggesting that the club should pull the deal then? The stark reality is that money talks and whether we’re sponsored by a betting company, crypto exchange or NFT peeps, the club simply cannot turn this down. They do have value as digital Pokémon cards if people are prepared to buy them.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
Are you suggesting that the club should pull the deal then? The stark reality is that money talks and whether we’re sponsored by a betting company, crypto exchange or NFT peeps, the club simply cannot turn this down. They do have value as digital Pokémon cards if people are prepared to buy them.
They can turn down any deal.
They have done so with betting firms in the recent past.
Digital assets can fundamentally alter how fans interact with their favourite teams. There will be more ways to meaningfully connect with teams and athletes than ever before. If executed effectively to help enhance the customer experience, fans can form closer bonds with their teams. Correspondingly, digital assets should provide a significant revenue opportunity for sports organisations. Traditionally, ticket sales, media rights and sponsorship form the three largest revenue streams for teams and leagues. All three could see significant growth due to tokenised tickets, NFT media rights and sponsorship of digital or metaverse events. In fact, it wouldn’t surprise us if in the next five years, digital asset sales become one of the largest revenue streams for many teams and leagues.
The challenge will likely come from organisations’ ability to build the infrastructure that allows digital assets to thrive. To make this a success, teams and leagues will need a sophisticated tech stack that connects their new digital sales data with existing customer databases. Further, it’s essential for organisations to anticipate and mitigate legal risk and tax implications. Much like NFTs, the regulatory landscape surrounding blockchain technology is evolving.
This industry has always responded well to shifts in customer behaviour, and Web3 is almost certainly going to be a major one. Teams should prepare for a sports world that is about to embark on a re-imagination of so much of how fans consume sports.
'Fundamentally alter how fans interact'. How exactly? 'Meaningfully connect with teams'. What exactly? 'Enhance customer experience' What, like fielding a winning team? 'Fans can form closer bonds with their teams' If you're a fan your bond is already close and for the most part fixed forever, so what is this offering? Tattoos?
As for: The challenge will likely come from organisations’ ability to build the infrastructure that allows digital assets to thrive. To make this a success, teams and leagues will need a sophisticated tech stack that connects their new digital sales data with existing customer databases.
Does this mean anything for the ordinary person, or is this statement deliberately designed to obfuscate?
'Re-imagining' of how we consume sports.
What does that mean? We watch matches through the hole in our arses?
ITT people who have no idea what NFT’s are and getting upset from what little they’ve read on daily mail articles.
It’s not particularly easy to go in and out of crypto, but things are changing, things will be a lot easier, I’ll repeat in 20 years you’ll be buying your season ticket for charlton as an NFT.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
Are you suggesting that the club should pull the deal then? The stark reality is that money talks and whether we’re sponsored by a betting company, crypto exchange or NFT peeps, the club simply cannot turn this down. They do have value as digital Pokémon cards if people are prepared to buy them.
They can turn down any deal.
They have done so with betting firms in the recent past.
Whether they should is a different debate.
I respect Leroy's expertise and take on this.
Fair enough. As I said, I don’t know enough about NFT’s but I can’t see how we’re in a position to turn down sponsorship based upon peoples moral compass. And I found the pile on of the NFT fella this morning pretty poor.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
Are you suggesting that the club should pull the deal then? The stark reality is that money talks and whether we’re sponsored by a betting company, crypto exchange or NFT peeps, the club simply cannot turn this down. They do have value as digital Pokémon cards if people are prepared to buy them.
They can turn down any deal.
They have done so with betting firms in the recent past.
Whether they should is a different debate.
I respect Leroy's expertise and take on this.
Fair enough. As I said, I don’t know enough about NFT’s but I can’t see how we’re in a position to turn down sponsorship based upon peoples moral compass. And I found the pile on of the NFT fella this morning pretty poor.
It’s unacceptable. Web3 and NFT companies rely heavily on their community. Congratulations to all those scaring away commercial business from the club. It’s to the point I wouldn’t be surprised at some point some one contacts the club to complain about what’s going on here.
Digital assets can fundamentally alter how fans interact with their favourite teams. There will be more ways to meaningfully connect with teams and athletes than ever before. If executed effectively to help enhance the customer experience, fans can form closer bonds with their teams. Correspondingly, digital assets should provide a significant revenue opportunity for sports organisations. Traditionally, ticket sales, media rights and sponsorship form the three largest revenue streams for teams and leagues. All three could see significant growth due to tokenised tickets, NFT media rights and sponsorship of digital or metaverse events. In fact, it wouldn’t surprise us if in the next five years, digital asset sales become one of the largest revenue streams for many teams and leagues.
The challenge will likely come from organisations’ ability to build the infrastructure that allows digital assets to thrive. To make this a success, teams and leagues will need a sophisticated tech stack that connects their new digital sales data with existing customer databases. Further, it’s essential for organisations to anticipate and mitigate legal risk and tax implications. Much like NFTs, the regulatory landscape surrounding blockchain technology is evolving.
This industry has always responded well to shifts in customer behaviour, and Web3 is almost certainly going to be a major one. Teams should prepare for a sports world that is about to embark on a re-imagination of so much of how fans consume sports.
'Fundamentally alter how fans interact'. How exactly? 'Meaningfully connect with teams'. What exactly? 'Enhance customer experience' What, like fielding a winning team? 'Fans can form closer bonds with their teams' If you're a fan your bond is already close and for the most part fixed forever, so what is this offering? Tattoos?
As for:
The challenge will likely come from organisations’ ability to build the infrastructure that allows digital assets to thrive. To make this a success, teams and leagues will need a sophisticated tech stack that connects their new digital sales data with existing customer databases.
Does this mean anything for the ordinary person, or is this statement deliberately designed to obfuscate?
'Re-imagining' of how we consume sports.
What does that mean? We watch matches through the hole in our arses?
Not everyone is aged 60+ like us Seth. The younger generations are using technology in ways I could never have imagined in my earlier years. Maybe read the whole of the PWC article and it may give you an insight on some of the potential. It might not be for you, or me, but I am sure plenty of our younger supporters may be interested in buying into some of what's to come. I have only been pointing out that the potential use of NFT's is not ALL evil. Leroy stated above that "NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there)" ...... I agree with this and would extend it to sport (Panini actually have heir own NFT's for instance) and clubs like ours might eventually use the technology in other ways that appeal to its fan base. That's essentially been my input on this subject.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
Are you suggesting that the club should pull the deal then? The stark reality is that money talks and whether we’re sponsored by a betting company, crypto exchange or NFT peeps, the club simply cannot turn this down. They do have value as digital Pokémon cards if people are prepared to buy them.
They can turn down any deal.
They have done so with betting firms in the recent past.
Whether they should is a different debate.
I respect Leroy's expertise and take on this.
Fair enough. As I said, I don’t know enough about NFT’s but I can’t see how we’re in a position to turn down sponsorship based upon peoples moral compass. And I found the pile on of the NFT fella this morning pretty poor.
It’s unacceptable. Web3 and NFT companies rely heavily on their community. Congratulations to all those scaring away commercial business from the club. It’s to the point I wouldn’t be surprised at some point some one contacts the club to complain about what’s going on here.
Complain about what exactly, people expressing differing views on a public forum?
ITT people who have no idea what NFT’s are and getting upset from what little they’ve read on daily mail articles.
It’s not particularly easy to go in and out of crypto, but things are changing, things will be a lot easier, I’ll repeat in 20 years you’ll be buying your season ticket for charlton as an NFT.
And i'll repeat, any company in the year of 2022 wanting you to 'invest' in jpgs as a way of making money, is a fast way to lose all of your money.
ITT people who have no idea what NFT’s are and getting upset from what little they’ve read on daily mail articles.
It’s not particularly easy to go in and out of crypto, but things are changing, things will be a lot easier, I’ll repeat in 20 years you’ll be buying your season ticket for charlton as an NFT.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
But my actual Pokemon cards are good? 😉
You still in the networking game fella? Got a Q for you on something that's been fucking me right off this week if so.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
Are you suggesting that the club should pull the deal then? The stark reality is that money talks and whether we’re sponsored by a betting company, crypto exchange or NFT peeps, the club simply cannot turn this down. They do have value as digital Pokémon cards if people are prepared to buy them.
I'd be interested to see what the commercial aspects of the deal actually are. A cycling team folded a couple of years ago because - desperate for investment - they took on a cryptocurrency as a sponsor, and never received the majority of the cash they were promised.
However, on the strength of it being a terrible, unregulated investment for people - yes, I'm not comfortable with the club having them as a sponsor.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
But my actual Pokemon cards are good? 😉
You still in the networking game fella? Got a Q for you on something that's been fucking me right off this week if so.
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
Enjoying the game Eddy Merckx?
Wow that's original. You think of that all by yourself, or did someone write it down for you with your crayons?
There are NO useful applications for NFTs yet. They are ALL, without fail, a way for cryptobros to cash out. You might make some money in the short term, but as soon as they've managed to get what they can out, you'll lose everything - if you're holding the non-existent cards when that happens, you're fucked. It's no better than penny stock pump & dumps (worse, because regulators haven't caught up it yet - unlike with boiler rooms)
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
But my actual Pokemon cards are good? 😉
You still in the networking game fella? Got a Q for you on something that's been fucking me right off this week if so.
LOL - been out of that for 12 years
Infosec and now Appsec
DM me though and I'll have a look
Dress it up how you want, infosec is still networking, you just don't plug in cables anymore 🤣😉
Explain what ‘in 20 years your season tickets will be NFT’s’ means.
He's quite possibly correct. There may be a digital application on your phone (or whatever replaces phones in 20 years) that's tied into a blockchain, proving your identity and the validity of your ST and you'll just wave it at a turnstile (or whatever replaces a turnstile in 20 years) to enter The Valley (or whatev... - no, I'll stop there)
So - there are perfectly good applications for NFTs in the future. But it's pointless making the analogy now because these amazing technological advances don't exist at any scale today, and .png files of robots are just a way to sucker fools into letting cryptobros makes some ACTUAL money out of crypto, instead of sitting inside the bubble waiting for it to burst.
Why would I want a JPeg and why would I buy it? Don't get any of this so no idea if I should be bothered by it.
You shouldn't be bothered by it - unless you're the sort of person who gets upset by people being conned by things like pyramid schemes, ponzis and investment scams. Personally, I think there's enough information out there to make people aware that NFTs in their present state are worthless, so it's not as if people aren't being warned.
I am new here and a holder of Generous Robots so I thought I should introduce myself and try to explain a bit about me and the NFT which has sponsored Charlton Athletic for this season. I should add at the outset though that I am only a holder and I don't speak for or on behalf of the team behind Generous Robots.
I am from the US and live in Miami. I have been involved in NFTs for the best part of four years now. I run my own portfolio of NFTs now as a full time career. Previously I had careers in finance and real estate.
NFTs are essentially a digital asset. There is quite a good basic guide to them on Timeout which you can read here https://www.timeout.com/hong-kong/art/beginners-guide-to-nfts-what-you-should-know. Some NFTs can be worth a lot of money if there is a lot of interest in them and demand. We have also seen well known artists like Damien Hirst selling digital artwork and even some of Banksy's artwork has been converted into NFTs with the original work burnt. The value of NFTs is, as with any artwork, in the eye of the beholder.
Generous Robots (https://generousrobots.com/) is a relatively new NFT that was created earlier this year. The mint price, or initial sale price, for 1 NFT was 1 Solana and it now trades around 1.5 Solana which is around $65 or £50. A lot of us who hold Generous Robots are based in the US and we have a pretty decent community where we chat on a platform called Discord.
I think the idea behind the Charlton Athletic sponsorship deal was to gain some exposure in the UK and see what happens. There are larger NFTs that are able to get involved in US sports like NFL, NBA, NHL and MLB. These are expensive sponsorship deals which I guess would be something similar to like sponsoring a Premier League team. Generous Robots is not big enough to do a sponsorship deal of that scale, so one of the holders suggested looking at Charlton Athletic as he is a fan and I think he knew the team were looking for sponsors.
Hopefully people on here see that Generous Robots is not a scam. We are a solid community who wanted to gain a bit of exposure in the UK and someone came up with the idea of sponsoring a football team. I do totally get that NFTs are going to be new for a lot of people on here and they will not be for everyone. They are an investment and as with any investment, you can make or lose money. Although I would stress that to buy one Generous Robot NFT is not particularly expensive at around £50 and we are certainly not talking about an investment that would require someone's life savings.
I am keen to follow you guys for this season and I have already bought my match pass to watch your matches. I have never followed a football team in the UK before so it will be a new experience for me and I am excited to see how you guys do. Many of us from the US are going to be rooting for you and following you for the season.
I hope that explains a bit about me and Generous Robots. If anyone has any questions, feel free to shout for me and I will do my best to respond!
Hi JohnnyB, thanks for taking the time to post this information. Personally I don’t have any issue with how it works or the concept. But what does seem vague at best is quite how any investment I make in this is likely to go up in value. What is it about this product that would make it worth any more in one years time than it is today?
As a platform for art, which is one area that it seems to being heavily billed for, I find it quite limited. Many pieces of art are best experienced in their physical form. A digital image of such pieces could not hold the same attraction and therefore value. While it is true that a small proportion of art may be enjoyed digitally I can’t see anything to suggest that this will likely be a main way of experiencing and enjoying art in the future. In terms of the monetary value of art this, like everything else is influenced by demand and supply and can be affected by what is in vogue at the time. I have a painting that has gone up in value recently as a film was made about the artist, which stimulated demand for his work. What would stimulate demand for NFT pieces? I wonder if now might already be the peak value period as it is new and exciting and actually any investment in this is more likely to go down as that early buzz disappears.
In terms of other uses such as have been mentioned here like buying season tickets using NFT’s what would be the benefit now in investing for that as surely if that were to happen if would be readily available and affordable at that point?
I would suggest that if people here had a spare couple of grand to speculate with they would in the current climate be better investing it on getting the best insulated and energy efficient home than buying into Generous Robot or any other NFT.
I personally don’t have any problem with the sponsorship arrangement, but if you care to look back through Charlton shirts over the last three decades you will see that many of those companies no longer exist. From what you and others have posted including the links you provided I see little to suggest this sponsor will stand the test of time.
I am new here and a holder of Generous Robots so I thought I should introduce myself and try to explain a bit about me and the NFT which has sponsored Charlton Athletic for this season. I should add at the outset though that I am only a holder and I don't speak for or on behalf of the team behind Generous Robots.
I am from the US and live in Miami. I have been involved in NFTs for the best part of four years now. I run my own portfolio of NFTs now as a full time career. Previously I had careers in finance and real estate.
NFTs are essentially a digital asset. There is quite a good basic guide to them on Timeout which you can read here https://www.timeout.com/hong-kong/art/beginners-guide-to-nfts-what-you-should-know. Some NFTs can be worth a lot of money if there is a lot of interest in them and demand. We have also seen well known artists like Damien Hirst selling digital artwork and even some of Banksy's artwork has been converted into NFTs with the original work burnt. The value of NFTs is, as with any artwork, in the eye of the beholder.
Generous Robots (https://generousrobots.com/) is a relatively new NFT that was created earlier this year. The mint price, or initial sale price, for 1 NFT was 1 Solana and it now trades around 1.5 Solana which is around $65 or £50. A lot of us who hold Generous Robots are based in the US and we have a pretty decent community where we chat on a platform called Discord.
I think the idea behind the Charlton Athletic sponsorship deal was to gain some exposure in the UK and see what happens. There are larger NFTs that are able to get involved in US sports like NFL, NBA, NHL and MLB. These are expensive sponsorship deals which I guess would be something similar to like sponsoring a Premier League team. Generous Robots is not big enough to do a sponsorship deal of that scale, so one of the holders suggested looking at Charlton Athletic as he is a fan and I think he knew the team were looking for sponsors.
Hopefully people on here see that Generous Robots is not a scam. We are a solid community who wanted to gain a bit of exposure in the UK and someone came up with the idea of sponsoring a football team. I do totally get that NFTs are going to be new for a lot of people on here and they will not be for everyone. They are an investment and as with any investment, you can make or lose money. Although I would stress that to buy one Generous Robot NFT is not particularly expensive at around £50 and we are certainly not talking about an investment that would require someone's life savings.
I am keen to follow you guys for this season and I have already bought my match pass to watch your matches. I have never followed a football team in the UK before so it will be a new experience for me and I am excited to see how you guys do. Many of us from the US are going to be rooting for you and following you for the season.
I hope that explains a bit about me and Generous Robots. If anyone has any questions, feel free to shout for me and I will do my best to respond!
Hi JohnnyB, thanks for taking the time to post this information. Personally I don’t have any issue with how it works or the concept. But what does seem vague at best is quite how any investment I make in this is likely to go up in value. What is it about this product that would make it worth any more in one years time than it is today?
As a platform for art, which is one area that it seems to being heavily billed for, I find it quite limited. Many pieces of art are best experienced in their physical form. A digital image of such pieces could not hold the same attraction and therefore value. While it is true that a small proportion of art may be enjoyed digitally I can’t see anything to suggest that this will likely be a main way of experiencing and enjoying art in the future. In terms of the monetary value of art this, like everything else is influenced by demand and supply and can be affected by what is in vogue at the time. I have a painting that has gone up in value recently as a film was made about the artist, which stimulated demand for his work. What would stimulate demand for NFT pieces? I wonder if now might already be the peak value period as it is new and exciting and actually any investment in this is more likely to go down as that early buzz disappears.
In terms of other uses such as have been mentioned here like buying season tickets using NFT’s what would be the benefit now in investing for that as surely if that were to happen if would be readily available and affordable at that point?
I would suggest that if people here had a spare couple of grand to speculate with they would in the current climate be better investing it on getting the best insulated and energy efficient home than buying into Generous Robot or any other NFT.
I personally don’t have any problem with the sponsorship arrangement, but if you care to look back through Charlton shirts over the last three decades you will see that many of those companies no longer exist. From what you and others have posted including the links you provided I see little to suggest this sponsor will stand the test of time.
Wait, what you’re telling me ‘Marman’ weren’t a sound long term business ? 😂
Explain what ‘in 20 years your season tickets will be NFT’s’ means.
He's quite possibly correct. There may be a digital application on your phone (or whatever replaces phones in 20 years) that's tied into a blockchain, proving your identity and the validity of your ST and you'll just wave it at a turnstile (or whatever replaces a turnstile in 20 years) to enter The Valley (or whatev... - no, I'll stop there)
So - there are perfectly good applications for NFTs in the future. But it's pointless making the analogy now because these amazing technological advances don't exist at any scale today, and .png files of robots are just a way to sucker fools into letting cryptobros makes some ACTUAL money out of crypto, instead of sitting inside the bubble waiting for it to burst.
Explain what ‘in 20 years your season tickets will be NFT’s’ means.
He's quite possibly correct. There may be a digital application on your phone (or whatever replaces phones in 20 years) that's tied into a blockchain, proving your identity and the validity of your ST and you'll just wave it at a turnstile (or whatever replaces a turnstile in 20 years) to enter The Valley (or whatev... - no, I'll stop there)
So - there are perfectly good applications for NFTs in the future. But it's pointless making the analogy now because these amazing technological advances don't exist at any scale today, and .png files of robots are just a way to sucker fools into letting cryptobros makes some ACTUAL money out of crypto, instead of sitting inside the bubble waiting for it to burst.
Comments
I can lose my money investing in a company just like I can purchasing a NFT of an animated robot fellating a monkey and not be protected.
On the other hand, I could make money in both scenarios and plenty of people have.
There is always risk.
People have jumped on the bandwagon of suggesting these guys are scams artists, involved in ponzi schemes with zero evidence to suggest it's true purely because they produce NFTs.
NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there) - but not as digital pokemon cards - and anyone who can't see the con is being obtuse, in on the scam, or delusional.
They have done so with betting firms in the recent past.
Whether they should is a different debate.
I respect Leroy's expertise and take on this.
How exactly?
'Meaningfully connect with teams'.
What exactly?
'Enhance customer experience'
What, like fielding a winning team?
'Fans can form closer bonds with their teams'
If you're a fan your bond is already close and for the most part fixed forever, so what is this offering? Tattoos?
As for:
The challenge will likely come from organisations’ ability to build the infrastructure that allows digital assets to thrive. To make this a success, teams and leagues will need a sophisticated tech stack that connects their new digital sales data with existing customer databases.
Does this mean anything for the ordinary person, or is this statement deliberately designed to obfuscate?
'Re-imagining' of how we consume sports.
What does that mean? We watch matches through the hole in our arses?
I have only been pointing out that the potential use of NFT's is not ALL evil. Leroy stated above that "NFTs have some promise in future potential legitimate applications (gig tickets, for instance, as there's a practical application there)" ...... I agree with this and would extend it to sport (Panini actually have heir own NFT's for instance) and clubs like ours might eventually use the technology in other ways that appeal to its fan base. That's essentially been my input on this subject.
FFS Get your priorities right.
Don't get any of this so no idea if I should be bothered by it.
You still in the networking game fella? Got a Q for you on something that's been fucking me right off this week if so.
However, on the strength of it being a terrible, unregulated investment for people - yes, I'm not comfortable with the club having them as a sponsor.
Infosec and now Appsec
DM me though and I'll have a look
Will drop you a DM Monday!
So - there are perfectly good applications for NFTs in the future. But it's pointless making the analogy now because these amazing technological advances don't exist at any scale today, and .png files of robots are just a way to sucker fools into letting cryptobros makes some ACTUAL money out of crypto, instead of sitting inside the bubble waiting for it to burst.
As a platform for art, which is one area that it seems to being heavily billed for, I find it quite limited. Many pieces of art are best experienced in their physical form. A digital image of such pieces could not hold the same attraction and therefore value. While it is true that a small proportion of art may be enjoyed digitally I can’t see anything to suggest that this will likely be a main way of experiencing and enjoying art in the future. In terms of the monetary value of art this, like everything else is influenced by demand and supply and can be affected by what is in vogue at the time. I have a painting that has gone up in value recently as a film was made about the artist, which stimulated demand for his work. What would stimulate demand for NFT pieces? I wonder if now might already be the peak value period as it is new and exciting and actually any investment in this is more likely to go down as that early buzz disappears.
I would suggest that if people here had a spare couple of grand to speculate with they would in the current climate be better investing it on getting the best insulated and energy efficient home than buying into Generous Robot or any other NFT.