American conceptual artist and digital activist Ryder Ripps wrote about the deal on September 6 in a post on X. According to him, the loss of nearly $400,000 was less of a financial blow and more of a symbol of shattered illusions. He expected that the NFT would grant him access to a cultural community and new opportunities on the internet, but those hopes did not materialize.
Ripps called the loss deserved and wrote about his disappointment in the very concept of NFT communities as a whole.
Expectations Vs Reality
The artist recalled how he believed he was buying “culture, access, a ticket to the future of the internet,” but three years later he found himself in a Buffalo Wild Wings café in New Jersey surrounded by members of the Bored Ape Yacht Club community. At his table sat three men in worn BAYC hoodies discussing worthless Polygon tokens and their personal problems.
“We couldn’t even manage the legendary ape handshake. Nobody knew what it meant,” Ripps wrote ironically.
He admitted that he lost not only money but also years, hopes, and trust. In his words, NFTs never became that very “future.” In his view, both utility and community disappeared, leaving only an expensive picture of a monkey that could have been worth the price of a house.
Community Reaction
The post sparked wide resonance, with more than 3 million views, thousands of reposts, and comments. Against the backdrop of declining interest in NFTs, Ripps’ admission became an illustration of the broader trend that the crypto market is constantly changing, and one must be able to sense trends and sometimes move faster than the market itself.
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