This is a fairly basic and imo very accessible and straightforward explanation of NFTs, and he also very directly talks about projects with celebrity involvement that… sound awfully familiar.
“… offering incentives to fans who buy the most expensive ones, like getting to meet them for example. … the “perks” that come with them are really things that should be worth hundreds, but through the current hype of NFTs, they’re trying to get fans to pay tens of thousands for.”
So yeah, if you want a very basic explanation of what they are and how they work and what some of the issues are, without any technobabble, by a guy with some common sense, this is a good one!
The unbearable cringe of this response right here:
IT’S SO BAD RIGHT??
“Hello I see you like gaming, our thing will have gaming - no specific details, just like, generic gaming. Because as anyone who knows anything about gamers knows, gamers are not at all picky about the games they play and enjoy. And I see you’re a fan of animation, well let me tell you sir, as a connoisseur, you will surely love our shitty animation!”
it’s like when you’re a kid and you love the Halo games and your grandmother gets you a Star Trek shirt because you like that thing with the spaceships, right? (although tbf at least her intentions were good)
also like… “You don’t like cars? But looking at your profile, it seems that you like the colour blue, and this car is blue, so maybe you’ll like this one eh? Eh??”
it’s pathetic honestly, it sounds like a bot or a middle-aged guy trying to be hip and with it
… in case we forgot whose post this was, I guess? “It’s me, Colin O’Donoghue, and this post was definitely written by me, Colin O’Donoghue. You can tell by the punctuation and the fact that I, Colin O’Donoghue, keep telling you my name (it’s Colin O’Donoghue).”
Now they’re doing an NFT giveaway. Should’ve seen that coming. Win an NFT of Colin! Yay! … and if you win, you’ll need an account/wallet somewhere to storeyour NFT… and then you’re on board. And you’ll have a xavatar so hey, might as well stick around and check out more.
And of course the way to enter is to tag a friend. Widening that pool of targets.
For getting people involved who have never done the crypto thing before, that’s a greatidea. Most people can’t afford it, so winning it would be great, right?
BE CAREFUL. Watch out for each other. Inform your friends.
There are SO many stories at this point of people who thought “nah, it won’t happen to me, I know what I’m at, I can handle it” and ended up getting scammed one way or another.
It’s a money-making scheme, lads. The podcast, the so-called “TV show”, they aren’t the actual product. They exist to promote and sell the actual product: their “metaverse” with all its contents, including NFTs.
They’re being vague about this on their social media - you’ve probably seen the mentions of “Xavatars” and “metaverse”, but no specific explanations of what that actually means. So here’s a quote from their LinkedIn, geared towards investors and business partners rather than social media followers and potential customers:
“… we are creating an animated show, The Sync Report, populated by XAVATAR avatars as a marketing tool and revenue generator. With the creation of the animated show we are expanding the development of the metaverse which our XAVATAR avatars will be able to populate, explore and utilize which allows for promotion of the space and sales of components of the ecosystem.”
What does all that mean? I’m not a business partner, I haven’t heard the full sales pitch, I don’t know all the details. This is what I do know, as far as I understand it:
A metaverse is a digital universe, a combination of the internet and virtual reality, where you can interact with people virtually. Like an online video game, except there’s no game. Note that the metaverse doesn’t actually exist yet, it’s a thing that the Facebook folks are working on.
The idea with “metaverse” and NFTs and all of that is that ideally, everythingwill be monetised. An online world where everything is for sale and everything costs money.
TSR are building their own metaverse called the Xataverse. The “TV show” will take place in this ‘verse, which basically means that if you want to watch it, you will need to enterit. You do that by getting a Xavatar, which is an NFT. Presumably, you will need to buythis Xavatar, since NFTs cost money. The NFTs of Colin that they’re selling will function as Xavatars.
Again, quoting from the LinkedIn, these Xavatars will “enable users to access various opportunities within our platform” and “participate in “metaverse” content shows, such as video podcasts, news, entertainment, and any kind of broadcast, and create virtual objects, all of which can easily be converted into NFTs”. Again, similar to a video game really, except there’s no game and you’re using real money to take part. Everything is monetised.
By the way: the wallet they want you to use is MetaMask. Which only works with Ethereum, so you’re locked into using Ethereum, one of the currencies that use a ridiculous amount of electricity and is contributing to climate change and the energy crisis. It’s also been falling in value lately, so if you buy, say, $100 worth of Ethereum today, it might be worth $70 in a week’s time.
Oh, and in order to set up a digital wallet and use it, you need to hand over your credit card details and personal ID information.
The “show” is a marketing tool and revenue generator. It exists to make money and promote this digital universe, just like NFTs exist to get people to invest in cryptocurrency. In my opinion, they got Colin on board in hopes of dangling him before his fans to draw them into this Xataverse thing. You want to “see” him on this “TV show”? Buy cryptocurrency, buy a Xavatar, and come right on in! You want more exclusive content? Buy tokens for that! Help drive up the value of the ‘verse and its associated NFTs, so that investors will think this is a valuable thing to invest in.
I also have, shall we say, some doubts that a little company in Kerry is going to manage to create something that Facebookis still working on. Again, the metaverse is still a hypothetical thing, it doesn’t actually exist yet. I think there’s a very real possibility here that once these NFTs drop and they’ve either sold enough or convinced some investors to give them money, the whole thing will just… fade quietly away. It wouldn’t be the first time that happens. But even if it doesn’t, again, the whole thing is a money-making scheme, it’s not about the podcast or the show at all, it’s not about Colin, it’s about using those things to create value, to get people to get involved in and commit to this “Xataverse” and spend money on it.
