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Billionaire Overlord Unleashes NFT Apocalypse: $67M Down the Drain in Secret Funding Frenzy

Crypto NewsFeaturedInstitutional Investors Doug Martinez October 30, 2024

A billionaire (based on Peter Thiel) is shown standing in front of a cityscape engulfed in flames and smoke, while holding an overflowing wallet labeled 'NFTs'. In the background, various NFT characters are running away from him as their values plummet. A giant dollar sign ($67M) burns above his head.

Peter Thiel’s fund has poured another bucket of cold water on the already-drowning world of cryptocurrency and non-fungible tokens (NFTs). Infinex’s Patrons NFT collection just hit a staggering $67.7 million in total investments, all courtesy of Founders Fund and its billionaire co-founder Peter Thiel. Because what we really needed was more proof that billionaires are secretly running the world – and our wallets.

Source: cointelegraph

Peter Thiel’s fund pushes Infinex NFT investments to $67.7M
https://cointelegraph.com/news/peter-thiel-fund-infinex-nft-67-7-m
Infinex’s non-fungible token (NFT) collection, Patrons, has surpassed $67.7 million in total investments within just six weeks since its launch, despite a downturn in the wider NFT market. The Patrons NFT collection crossed the $67 million milestone with backing from Founders Fund, co-founded by billionaire and former PayPal CEO Peter Thiel. The non-custodial platform offers easy access to onchain protocol and decentralized applications (DApps), aiming to usher in “the next […]

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Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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