Lost money on NFT

in Savings & Investments
123 replies 8.3K views
I bought a NFT through Opensea from a well know collection, but the next down opensea took it off. 
I'm not sure why this is and didn't get notifications about it. How can you purchase theses and know they are going to take it down? 
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  • london21london21 Forumite
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    Contact the company that sold it to you.

    To me NFT are like the next bitcoin. Don't understand it so stay clear of it. 
  • Scottex99Scottex99 Forumite
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    What collection? Do they have a Twitter? What’s the txn ID?
  • george4064george4064 Forumite
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    Shouldn’t you have a QR code or something as proof of ownership?
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

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  • Scottex99Scottex99 Forumite
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    Emmia said:
    NFT's are scams in my opinion. 

    I appreciate that there are lots of NFT fans out there. But honestly I don't understand the attraction in paying to have a link to a thing (that can be taken down at the drop of a hat), rather than the actual physical ownership of that thing. 

    I'd rather have/buy a raisin, than have/buy a link to a picture of that raisin. 
    That doesn’t make it a scam.

    The value in the punks and apes is clearly subjective but right now that “art” is being traded for millions.

    For me a huge utility is in gaming, items and property etc in game. Skins already trade for millions. Imagine your gun in COD or your player in FIFA is now and NFT and it’s very rare. Suddenly it has value to other players…
  • edited 9 January at 10:29PM
    barnstar2077barnstar2077 Forumite
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    edited 9 January at 10:29PM
    As soon as I read that an NFT doesn't necessarily mean you own the copyright was the moment I stopped being interested.

    People are so desperate for the next get rich quick scheme that there will always be another crypto/NFT/tulip on the horizon.  At least if worse came to the worst you could always plant a tulip!  : ) 
    Think first of your goal, then make it happen!
  • EmmiaEmmia Forumite
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    Scottex99 said:
    Emmia said:
    NFT's are scams in my opinion. 

    I appreciate that there are lots of NFT fans out there. But honestly I don't understand the attraction in paying to have a link to a thing (that can be taken down at the drop of a hat), rather than the actual physical ownership of that thing. 

    I'd rather have/buy a raisin, than have/buy a link to a picture of that raisin. 
    That doesn’t make it a scam.

    The value in the punks and apes is clearly subjective but right now that “art” is being traded for millions.

    For me a huge utility is in gaming, items and property etc in game. Skins already trade for millions. Imagine your gun in COD or your player in FIFA is now and NFT and it’s very rare. Suddenly it has value to other players…
    Ok, its a ponzi scheme - in the short term people see it with huge 'value' until they don't and someone is left with a bit of nothing that they paid a lot for... but can't sell.

    COD and FIFA don't do much for me, but they are obviously popular with others.
  • Scottex99Scottex99 Forumite
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    And where do you get to that conclusion from? Have you ever bought an NFT?
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