Just the idea of crudely drawn, overpriced pictures of apes needing to be repossessed because of missed loan payments makes me lose it.
It’s so absurd that it reads like a parody.
It’s like The Onion but irl
Anybody who thinks this is funny isn’t considering the banker underwriting a loan using an NFT as collateral; it’s actually hilarious
Idk man. I’ve seen who really pays for it when banks screw up.
lmao, it’s not even that, it’s not loan, it’s “loan protocol” which means it’s not real loan from bank with real money, but “loan” of dork points from shady “protocol” and that can mean whatever. that means that nftbros didn’t pay for this, they only paid for loan interest, that is until they didn’t. it looks like the bigger sucker was whoever gave them loan in the first place, but so is all of crypto, layers over layers of clowns and frauds
Imagine showing up to repossess a picture of an ape. You would think you’re being fucked with.
It’s not even a picture but a promise that you own that picture that anybody at any time can see and download…
It’s basically the receipt for an ape.
Well, it’s not like the whole world told them that this was inevitably going to happen…
They should hold a fundraiser…maybe mint some NFTs and sell them…
Who else read the title and thought the post was about Spyro the dragon? Got real worried for a second.💀
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Is this a real thing?
Taking out loans via defi scripts and getting automatically liquidated is definitely a thing yes. Sometimes, they even get liquidated by bugs in said scripts. Remember though, it’s all crypto funny money involved usually with people who got in before it got manipulated to hell.
