Does anyone actually make money from stuff like this?
This has to be a scam of some sort, but i don't even see how the people at the top are making money.
This has to be a scam of some sort, but i don't even see how the people at the top are making money.
Ah... so you're specifically mentioning about the news article in question?
If you repay the loan, [your NFT token] comes back home. If not, [the token] gets a new owner. Simple as that!
I guess this explains everything... Probably just ppl hustling each other lol. And I assume given what types of shady characters are into NFTs, there are probably a lot of them who want to hustle another person out of some cash
yeah, but its like, people are scamming people with nfts, using those scammed nfts to issue "loans" to scam people with cypto, so they can scam people with nfts, etc etc like is anyone actually making making money from this mess?
I wouldn't be surprised if someone does. I mean banks also just shuffle money around and guess who has a bunch of cash lying on hand so... Goes back to the gold rush era, but there are folks who mine the gold and folks who mine the miners
Also some tech companies can be at a loss for years but run on VC money
So... I don't know, but again I wouldn't be surprised if they are making something to keep this nonsense going