timeshares had knockon costs that kept on giving in some cases years
for those NFTs were better
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merc@sh.itjust.works 3 days agoThe two aren’t even remotely comparable. A timeshare may not be as valuable as you thought it was, but it exists and you can use it. An NFT is basically an entry in a star registry, but the people think (or at least thought) they actually own the stars.
baines@lemmy.cafe 3 days ago
merc@sh.itjust.works 3 days ago
NFTs were bought with crypto, which had various hidden costs, scams and thefts, so it’s basically the same.
baines@lemmy.cafe 2 days ago
i mean i’m not really trying to defend nfts because fuck they are a scam but worst case you just lost the money spent on the nfts
sure i remember people having their wallet stolen but that’s not inherent to nfts so much as stupid people doing risky things following a fad, they could have just as easily used a sketch market (like many of them did)
for the timeshare i’m talking about you buy a share of a condo in hawaii/florida then there is a 60k repair fee for each person sharing it and it’s not a scam, just part of the possible normal upkeep the person didn’t bother reading about
TrickDacy@lemmy.world 3 days ago
Well said.
pruwybn@discuss.tchncs.de 3 days ago
On the other hand, with an NFT you’ve just thrown your money down the toilet, while timeshares will keep charging you fees and are incredibly difficult to get out of (and the services that supposedly help people get out of them are often scams too).
merc@sh.itjust.works 3 days ago
True, but while you’re still paying those timeshare fees, you still have access to the place.
The real difference is that a time share is never thought of as an investment where you buy low and sell high. It’s thought of as getting a good deal on something you plan to use. For it to be similar to an NFT it would have to be something like a dude in Nebraska buys a time share in Australia and then tries to make money from Australians or something. AFAIK almost everybody who buys time shares does it because they plan to use the place as a vacation property and actually do use it that way, at least for a while.