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[Theqoo] What netizens say about BTS’ agency HYBE entering the NFT business


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original post: theqoo

1. There are no announcements about BTS’s Korean album, BTS doesn’t have any stage in Korea.. What the hell are they doing? Just focus on your artists

2. Looks like BTS made too much money…

3. I hope BTS doesn’t renew their contract with HYBE, the members should leave HYBE and set up their own agency

4. What the hell is this?.. They should improve the Weverse Shop and the quality of the merchandise instead

5. I don’t think I’ll buy anything other than the albumㅋㅋㅋㅋㅋ This is so silly

6. Damn, is this an entertainment company?

7. The Weverse Shop is already trash, so what else do they want to do?

8. I just want to see BTS sing, dance and perform on stage.. Just focus on your artists

9. Honestly, I don’t care what HYBE does. Please do well in the entertainment business

10. Please take good care of your artists

https://netizenbuzz.kissreport.com/what-netizens-say-about-bts-agency-hybe-entering-the-nft-business/

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1 hour ago, The_Vixen said:

What are nft

I searched it and it says they're images online 

Is this some sort of money laundry business ??

Like expensive art 

Non-fungible token it uses the same cryptocurrency programming as bitcoin and acts as a token that gives you and only you access to whatever it is you bought 

So if there is a BTS Jimin rare photocard NFT, when you buy it only you have access to that specific photocard, no one else.
People are against it because it is god awful for the enviroment.

It is basically expensive physical art, except it isn't physical and is digital.

Edited by RougeSugar
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I mean this is not surprising in least knowing hybe done other greedy sht

Honestly I see nft as scammy most the time. I'm not fully knowledgeable but I watch a podcast that sold nft forever ago.. I think at beginning of, and maybe before it was a trendy thing to do. I think it's more common now. But they got in contact with a guy who involved in crypto company bc he was buying a bunch of them.. which is cool ig. I think these things are fine if it's just like ppl deep in crypto just investing ig. But it becomes strange for me when you tubers, musicians, etc those type making nft bc fans will shell out money for them. 

Its weird thing and it's become just full money grab. the podcast I watch at least shitting on nft and acknowledge it as a 100% money grab iirc.. Also encourage fans to not buy it. I doubt most ppl with fans gives that disclaimer, and it's such shady practice. I mean could happen just crypto rich people buy it but hardcore fans can just shell out thousands of dollars with no intent of reselling, which iirc is point? To resell nfts later on for more than you bought it for,an investment ig. It's not surprising from hybe greedy asses but I never guessed theyd do this.. I hate the whole practice of nft, I wish it'd go away or no offense to the ppl who "investing" with crypto and such but I think how common public figures making nft is bad, and scams a lot the time. I also just never am into crypto at all tbh tho

Edited by deobizone
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15 hours ago, RougeSugar said:

Non-fungible token it uses the same cryptocurrency programming as bitcoin and acts as a token that gives you and only you access to whatever it is you bought 

So if there is a BTS Jimin rare photocard NFT, when you buy it only you have access to that specific photocard, no one else.
People are against it because it is god awful for the enviroment.

It is basically expensive physical art, except it isn't physical and is digital.

Except it is scammy as fuck.

 

Say, for example, the creator of the original Doge meme wants to sell an NFT of the thing and it goes for 500k; some moron buys it, and is now the owner of the “original”, but the image will be all over the place, so they essentially bought a jpg for half a mil that is essentially worthless.

 

Same principle. If the owner goes online to show their new brand Jimin jpg image, it’ll immediately be reproduced and whatever invented value it had is now gone.

 

Plus, like you said, it fucks up the environment.

 

I really hope ARMY don’t buy into this shit. There’s no way HYBE will stop with the project since it’s basically ready to launch, but ARMY have the power to make it useless, make the company lose money and have them learn a thing or two.

 

 

Edited by No1
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18 hours ago, No1 said:

Except it is scammy as fuck.

 

Say, for example, the creator of the original Doge meme wants to sell an NFT of the thing and it goes for 500k; some moron buys it, and is now the owner of the “original”, but the image will be all over the place, so they essentially bought a jpg for half a mil that is essentially worthless.

 

Same principle. If the owner goes online to show their new brand Jimin jpg image, it’ll immediately be reproduced and whatever invented value it had is now gone.

 

Plus, like you said, it fucks up the environment.

 

I really hope ARMY don’t buy into this shit. There’s no way HYBE will stop with the project since it’s basically ready to launch, but ARMY have the power to make it useless, make the company lose money and have them learn a thing or two.

 

 

Sorry for asking again, but why an image on the Internet is damaging for the environment? 

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1 hour ago, The_Vixen said:

Sorry for asking again, but why an image on the Internet is damaging for the environment? 

Simply put, because it uses crypto-currency as payments, and the more NFTs sold, the more crypto-mining is encouraged. Miners use a shit load of machines for this, which utilizes a lot of energy, creating around 38 tons of CO2 a year - and increasing. To put it in perspective, it is more CO2 created by a relatively small community of people than the emissions from a small country.

It also creates a lot of e-waste since they need a lot of horse power to work efficiently (it is also why there is a worldwide chip shortage), which takes centuries to disappear. Miners go through GPUs like they go through underwear.

Edited by No1
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56 minutes ago, No1 said:

Simply put, because it uses crypto-currency as payments, and the more NFTs sold, the more crypto-mining is encouraged. Miners use a shit load of machines for this, which utilizes a lot of energy, creating around 38 tons of CO2 a year - and increasing. To put it in perspective, it is more CO2 created by a relatively small community of people than the emissions from a small country.

It also creates a lot of e-waste since they need a lot of horse power to work efficiently (it is also why there is a worldwide chip shortage), which takes centuries to disappear. Miners go through GPUs like they go through underwear.

That's horrible!!! And these guys were giving a speech at the United Nations ???

This is why we shouldn't listen to rich people they live in their own  bubble, hypocrisy at its peak

 

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On 11/6/2021 at 4:46 PM, RougeSugar said:

Non-fungible token it uses the same cryptocurrency programming as bitcoin and acts as a token that gives you and only you access to whatever it is you bought 

So if there is a BTS Jimin rare photocard NFT, when you buy it only you have access to that specific photocard, no one else.
People are against it because it is god awful for the enviroment.

It is basically expensive physical art, except it isn't physical and is digital.

Sorry for being utterly stupid and asking, but why nft’s are awful for the environment if those are digital? 😫😫😫 I’m really sorry

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On 11/7/2021 at 1:47 PM, The_Vixen said:

That's horrible!!! And these guys were giving a speech at the United Nations ???

This is why we shouldn't listen to rich people they live in their own  bubble, hypocrisy at its peak

 

Yeah this is why I never wanted the guys to do the whole UN thing. Because the company can move into different ( questionable) areas, but it is the guys who will have to face the criticisms. And maybe they do what to be environmentally responsible, however the company still decides what business directions it takes for the daily operations. So I will really wish they didn't do government shit like this when they can't or won't follow the basic guidelines. 

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14 hours ago, good_morning said:

Sorry for being utterly stupid and asking, but why nft’s are awful for the environment if those are digital? 😫😫😫 I’m really sorry

NFTs are traded, sold & created using high-end specialized computers that use an obscene amount of electricity (using fossil fuels, not renewable energy sources).
As a result, the transactions alone uses as much electricity as a country.

Edited by RougeSugar
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4 hours ago, RougeSugar said:

NFTs are traded, sold & created using high-end specialized computers that use an obscene amount of electricity (using fossil fuels, not renewable energy sources).
As a result, the transactions alone uses as much electricity as a country.

Omg it’s scary! 
 

thanks for the reply!

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