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.
Anybody who thinks this is funny isn’t considering the banker underwriting a loan using an NFT as collateral; it’s actually hilarious
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.
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.
