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Gessler and Gonciarz have NFT avatars with teddy bears. what is he talking about?

Gessler and Gonciarz have NFT avatars with teddy bears.  what is he talking about?

Magda Gesler, Krzysztof Guncairs and the owner of Montana caught the attention of the Poles on NFT and for several days there was a stormy discussion among semi-experts on the Web, full of words practically incomprehensible to the ordinary reader. I’m afraid I will not help you fully understand Inba, but I will at least try to highlight all the question marks that should appear before the eyes of anyone who plans to pay a few thousand zlotys for a picture online.

  • Krzysztof Gonciarz, Malik Montana and Magda Gessler bragged about their NFT incarnations. In the United States, there is a similar club, among others, Eminem, Steve Aoki and Jimmy Fallon
  • Membership in the Elite Club is associated with benefits such as exclusive events and gifts, but buying your own avatar is an account of several to hundreds of thousands of zlotys.
  • Is it worth investing in NFT? Technology is described as a revolution in the digital world, but there are many question marks hanging over it
  • More similar content can be found on Onet homepage

Krzysztof Gonciarz wrote on his Twitter profile in September of last year: “Yesterday a friend promised me apple pie when I’m looking for higher crypto fee* and didn’t check it out of respect for followers and I don’t have apple pie.” This is a tweet from a group of those who aren’t aging well, and now that Gonseiars has joined the influencer club with teddy bears in avatars, followers won’t fail to mention his post from a few months ago.

“This teddy bear is a digital version of me. I’m excited not only to be a part of this club, but also for the opportunities that NFT technology provides for artists. It’s not something I fully understand, but I feel like a revolution is happening right in front of our eyes.” Magda Geisler wrote about her new avatar in social media, citing DDOB Portal. The second sentence of this statement seems especially important to me, because I have the impression that it miraculously reflects our negligible collective knowledge of NFT. It is not wrong or embarrassing to feel overwhelmed by the entire discussion, because cryptocurrency and tokens are a difficult and complex topic. However, if, with the encouragement of celebrities from all over the world, you plan to invest at least a zloty in it, I feel compelled to ask you some big question marks (My mother will ask if all these people suddenly want to jump off the bridge, shall I run? With them?).

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I wrote what exactly NFTs are here once, but for the purposes of this text I will simplify it further. Let’s just assume that the NFT is a web certificate that a particular file (in this case, a graphic) belongs to us. We can keep it indefinitely, and we can also try to sell it to other collectors. When buying some tokens, we receive special benefits – some artists send buyers limited physical tools, others agree to transfer ownership of the work (just owning a token doesn’t usually constitute ownership).

You can find the rest of the text below the video

Currently, limited avatars are gaining in popularity, which, after acquiring an NFT with a featured monkey (Bored Ape Yacht Club) or bear (Fancy Bears Metaverse), also gives access to club benefits, such as parties, gadgets, and sweepstakes. Such popularity wouldn’t be possible without the celebrities who decided to join the club – in the case of BAYC, among others, Eminem, Jimmy Fallon, Future and Steve Aoki. The fact that celebrities are part of the club obviously legitimizes this in the eyes of people who are able to invest up to several hundred thousand dollars in a single photo of a monkey. The Fancy Bears Metaverse, which includes, among others Magda Gessler, Krzysztof Gonciarz and Joanna Jędrzejczyk will be the European answer to the Bored Ape Yacht Club – the creators announced that in March 2022 club members will have the opportunity to paint a Ferrari. They are also planning physical events in the United States and Europe.

Here, though, I have to slow down, because we have some hard facts ahead of us that prevent me from writing about NFT with enthusiasm.

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risky investment

NFT tokens are treated as an investment – buyers hope to sell them after a while for a much larger amount. In practice, the NFT market is saturated with tokens that can be invested in, but not necessarily profitable. The market isn’t regulated properly, so there have been cases where artists have been stolen from their work and have not known for some time that someone has created an NFT with their work (artist Liam Sharp has been forced to close his DeviantArt profile for this reason). Owning a token, you also need to be able to guarantee its security – no later than a few days later, a collector wrote on Twitter that 15 NFTs with monkeys, whose value exceeded $2 million, had disappeared from his wallet (after the intervention, the tokens were frozen and from likely to succeed). To restore them – editor). However, investing in digital art requires a lot of market knowledge, otherwise you may lose money with just a few clicks.

Ecology NFT

A serious objection to NFT is its environmental harm. According to estimates by the Cambridge Center for Alternative Finance, the annual electricity consumption of the Bitcoin network is around 128 TWh, which is roughly equivalent to its year-round use in Ukraine (and 20 TWh more than it is in Poland). Most of the NFTs are stored in the Ethereum chain, which isn’t nearly as malicious as Bitcoin, but it’s still very malicious – the energy needed to complete a single transaction can power all the devices in an American’s apartment for about 7 days (You can find the full list here). The creators of Ethereum announced that the network will consume up to 99 percent in the future. Less energy, but we will not commend it until the change actually occurs (the fact is that due to the energy crisis and the threat of blackouts, Kosovo banned cryptocurrency mining on its territory). Of course, networks that pride themselves on carbon neutrality are also developing in the market, but it is still an unregulated and opaque market, which should be a question mark enough for people who care about the fate of the planet.

Mystery parties and cars

However, let us assume for the purposes of the text that the problem of environmental damage to NFT does not exist. The elitism of the clubs we can join, which spend from several to hundreds of thousands of zlotys, may be worrying for us. In addition to a custom avatar, in most cases we invest in vague promises of major events with celebrities and gadgets and get a chance to draw a car in the lottery. A mysterious party with influencers may turn into the evening of your life, and it may also turn into another Fyre Festival and an amazing dumping of savings. On the other hand, when someone on the Internet offers us a chance to win a Ferrari, the warning lights should immediately flash in your head, telling you to be careful. Of course, I’m not accusing anyone here of bad intentions, but when it comes to that much money, it takes more transparency.

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