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Person Furious That Someone Right Click Saved Their Precious NFT – Futurism

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In a mystifying new trend, people are willing to spend an astonishing amount of money on digital pieces of artwork in order to own exclusive rights to them.
Non-fungibles tokens, or NFTs, have become a mainstay of the cryptocurrency world, offering those who have plenty of cash or crypto to spare a way to “reinvest” it in what they say is exclusive ownership over what often amounts to not much more than a cartoon image of an angry ape or a whale wearing a top hat.
In short, it’s not exactly about the artistry — it’s about making claims over ownership using blockchain. What exactly are crypto-heads getting when buying an NFT? Beyond often dubious resale value, it’s a surprisingly difficult question to answer.
Some NFT collectors are upset that vandals are right-clicking on their newly-purchased digital assets and hitting “save as.” After all, copying an NFT is often as simple as that.
Most recently, Twitter user SaeedDiCaprio got confronted by an investor.
“You think it’s funny to take screenshots of people’s NFTs, huh?” the rando messaged him on Twitter, according to a screenshot he posted of the exchange. “Property theft is a joke to you? I’ll have you know that the blockchain doesn’t lie. I own it.”
DiCaprio dug deeper.
“I could make a whole NFT collection of screenshots of me right clicking and saving the image and sell it,” he wrote in a follow-up tweet.
It’s an admittedly hilarious exchange that goes to show just how strange — and absurd — the NFT trend really is. It’s trivially easy to copy NFT artwork and disseminate it elsewhere. Even the blockchain isn’t always able to back up claims of rightful ownership, depending on the platform selling the NFTs.
But that’s not exactly the point, either.
“Even if you save it, it’s my property,” the upset user wrote in their message. “You are mad that you don’t own the art that I own. Delete that screenshot.”
The artwork in question, titled “Lazy Lions #348,” belongs to a collection hosted by OpenSea and bids have surpassed $5,000 at the time of writing.
In some circles, the kind of attitude shown by SaeedDiCaprio is being labelled as “right-clicker mentality,” Vice reported this week. It’s a term first coined by NFT collector and creator Midwit Milhouse, who complained at the time that somebody was cheaply recreating gold-coated steaks online.
According to Milhouse, it was a homebrewed version of a steak popularized by internet sensation Salt Bae, who was selling the creation for $2,000 at his restaurant in London.
“Sure, you can make your own gold-coated steak for 65GBP, but then you don’t have the satisfaction, flex, clout that comes from having eaten at Salt Bae’s restaurant,” Milhouse wrote in a tweet last month.
“The value is not in the cost of the steak,” Milhouse argued. “It’s all about the flex.”
Right clicker mentality is a term that cuts right down to the crux of the misunderstanding. It’s been appropriated, in fact, to mock the entire concept of ownership for ownership’s sake, as is often the case with NFTs.
Despite the kerfuffle, the tokens are still selling for plenty of cash — and that’s also inviting all kinds of shenanigans. Most recently, an NFT developer took off with about $2.7 million siphoned out of an NFT project’s funds.
And NFT collectors have essentially no recourse in that kind of scenario. As with cryptocurrencies, NFTs are being traded inside a regulatory vacuum. It’s the Wild West — and the only real rule is “buyer beware.”
NFTs are an ostentatious display of contemporary wealth: by owning a simple JPG, collectors are hoping to invest their money, while also status signaling.
But that doesn’t amount to much for those who aren’t operating within those circles. The mockery, justified or not, will likely go on as long as NFTs are still being traded.
All told, fully embracing concept of value when it comes to NFTs takes some serious mental gymnastics. No wonder many aren’t buying it.
READ MORE: What the Hell Is ‘Right-Clicker Mentality’? [Vice]

More on NFTs: McDonald’s Created a McRib NFT Because We Live in Hell
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This Week's NFT Sales Slide, Bored Ape Market Cap Drops 21%, Floor Prices Sink Lower – Markets and Prices Bitcoin News – Bitcoin News

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by Jamie Redman
Non-fungible token (NFT) sales this week dropped 10.88% lower than the week prior. Roughly $118.02 million worth of NFTs were sold this week compared to last week’s $132.43 million. Further, the top two NFT collections with the largest market capitalizations shed significant value during the past seven days. While Bored Ape Yacht Club’s market valuation lost 21.29%, Cryptopunks’ market cap slid by 19.18%.
NFTs had a lackluster week as sales and prices have followed in sync with falling crypto asset prices. Statistics show that a large number of NFT collections have lost considerable market value during the past week. For instance, metrics show that Bored Ape Yacht Club’s (BAYC) floor value on September 13, 2022, was $114,388 and today, the floor value is around $90,026. BAYC’s market valuation on September 13 was $1.14 billion and today it’s down 21.29% to $900.25 million.
Data shows that the second most expensive NFT floor value belonged to Cryptopunks on September 13, and that’s still the case today. However, the cheapest Cryptopunk last week was around $98,941, but today you can get one for $79,960. Cryptopunks’ market cap has nosedived 19.18% lower during the past week. The same can be said for a majority of blue chip NFT collections like PROOF Collective, Mutant Ape Yacht Club (MAYC), Castaways, and Doodles.
Seven-day statistics show that the BAYC NFT collection is the compilation with this week’s top sales, as $8,603,290 in trades were recorded. BAYC sales have increased by 17.33% and the second largest NFT collection in terms of weekly sales is RENGA. The RENGA NFT collection has managed to print $5,822,323 in seven-day sales, up 121.08% since last week. Overall, however, NFT sales across 17 blockchains monitored by cryptoslam.io are down 10.88% lower than last week.
This Week’s NFT Sales Slide, Bored Ape Market Cap Drops 21%, Floor Prices Sink Lower
Ethereum (ETH) captured the top NFT sales and Solana (SOL) recorded the second largest number of digital collectible sales this week. Although, ETH-based NFT sales slipped 1.66% lower than last week with $79.05 million in seven-day sales. SOL-based NFT sales are down this week 42.11% lower than last week with $23.71 million. Both Flow and Immutable X saw an uptick in NFT sales. Flow NFT sales jumped 59.42% higher, and Immutable X NFT sales saw a significant 790.96% increase.
The top five most expensive NFTs sold this week all stemmed from the BAYC collection and include Bored Ape #441, Bored Ape #2897, Bored Ape #5733, Bored Ape #4179, and Bored Ape #1846. Bored Ape #441 sold for 351,000 DAI and Bored Ape #2897 sold for 215.38 ether or $296,404. Bored Ape #5733 was sold three days ago for 120 ether or $176,458, and Bored Ape #4179 sold for 123 ether or $176,307. Lastly, the fifth most expensive, Bored Ape #1846, was sold for 106 ether or $151,939 four days ago.
What do you think about this week’s NFT sales dropping more than 10% lower than last week’s sales? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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FASB Excludes NFTs, Some Stablecoins From Crypto Accounting Project – The Wall Street Journal

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Michael Saylor can't stop: MicroStrategy now holds 130,000 Bitcoin – Cointelegraph

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MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851, the company’s executive chairman announced on Twitter.
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 
In sum, the company is one of the planet’s largest holders of the asset, owning 130,000 BTC. Apparently, Saylor likes round numbers, buying 301 BTC to reach the 130,000 milestone. 
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. MicroStrategy’s entry price is roughly $30,639 per BTC, and the Securities and Exchange Commission filing states that the firm has bought 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington, DC has taken aim at the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to commend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has garnered both a devout following and numerous critics.
Related: Bitcoin better than physical property for regular folks, says Michael Saylor
Other large wallet addresses include that of crypto exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wallet that holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin. Regarding individuals, Saylor has stated that he holds Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers” — a meme that became popular jargon for holding crypto.

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