NFT Trading Has Officially Infiltrated Cycling

Nov 14, 2021 at 18:49
by Alicia Leggett  

While it might be a stretch to say that the world is getting brighter and better, we can definitively argue that it just keeps getting more... interesting.

Today, in yet another turn of events, the bike world has outdone even Henry Quinney in coming up with the farfetched and fantastical. A motley crew has come together to create this project: of an artist with the snappy sobriquet Rich Mitch, who is in charge of creating the avatars that will be sold as NFTs; a retired bike racer, current crypto enthusiast, and 'sockologist' known as Scoop, who seems to be the logistics guy; a '90s road pro and OG mountain bike racer called Wolf who is described as the operation's soigneur; and the founder of one our competitor websites, whom we'll call Tyler, the communicator.

As for the operation itself? It's the world's first blockchain-based cycling community.

Here's how it will work. People - that's you, I guess (?) - will buy into this community by purchasing non-fungible tokens (NFTs), which are essentially collectibles in the form of unique pieces of code that symbolize ownership of digital assets. That's right, you're buying some code that represents authenticity and scarcity that is associated with a picture on the internet, kind of like how you can technically buy a star that you will never visit (or remember where to find) for $34.90 or buy a pair of stars as a useless honeymoon gift for $69.90. Nice.

This cycling NFT project, called Bike Club, will mint 10,000 unique rider avatars that will be sold as NFTs. Owning a so-called Rider grants access to the Club.

A quick glossary:

NFT (non-fungible token): A unique unit of code that represents ownership of an asset traded on the blockchain

Blockchain: A digital ledger that records transactions

NFT minting: The process by which an asset is published on the blockchain and made tradeable

Confusion: A feeling with which I am familiar

Anyway, when one purchases a digital cycling avatar and thus technically owns the image, the transaction is recorded online on the Ethereum blockchain, a digital ledger that tracks who owns what non-thing things. Because minting an NFT is a way of authenticating that asset and ensuring that there is one true owner, the whole NFT situation creates artificial scarcity, thereby making these collectible avatars desirable and at least somewhat valuable.

But wait. While buying an NFT to own the certified version of an image and get your user ID in a public ledger somewhere on the internet seems like an adventure in hubristic self-congratulations, we do sincerely have to give the project some credit in that it will tangibly benefit bike communities. Bike Club NFT has pledged to donate 10% of all royalties and revenues to organizations and people that improve biking locally and on large scales. The club will draw upon its members to steer the club's charitable initiatives. (It seems too direct to suggest simply donating the money you'd spend on avatar ownership to the charitable organization of your choice.)

For those who would prefer to focus on the personal benefits of owning an NFT avatar, Bike Club membership will also include access to VIP areas at bike industry events; access to a private Strava club; deals and opportunities to spend IRL cold, hard cash on products from partner brands; and membership in a private Twitter group and the club's Discord server - think Slack, but for after-hours. The whole thing is challenging my understanding of what a bicycling club does. There must be a part where one... rides a bicycle? But maybe I'm just missing the point.

Bike Club will begin minting NFTs in January 2022 for Stage 1. Once 20% of the avatars are sold, Bike Club plans to make its first charitable donation of $40,000 USD, eventually making five $40,000 USD donations by the time they all sell. Once Bike Club enters Stage 2, it'll mint a series of mountain biker avatars (the first ones will be roadies). Around the same time, mysterious hidden features and special powers will be announced pertaining to the original Riders. It's unclear what exactly that means, but Bike Club suggests that it might be beneficial to own multiple Riders - a whole team, even - because not all Riders have the same secret skills. The charitable donations will continue in Stage 2.

These normal and understandable happenings will continue into Stage 3, when Bike Club hints it may start its own cryptocurrency and / or pursue some type of gamification in the Metaverse and / or form a DAO, or a decentralized autonomous organization. A DAO is a cryptocurrency-driven, user-governed community. What could happen from there? I'm not convinced even the sky is a limit at this point.

Some example avatars.

While this seems like it'll be the largest-scale NFT project in cycling so far, it's not the first. The first cycling NFT was a digital rendering of a one-off Colnago C64, which sold earlier this year for $8,592 USD, which happens to be $2,300 USD more than the price of an actual, rideable, Colnago C64. The bike depicted in the image never actually existed in the physical world, but in theory, Colnago said it would be the lightest frameset in the company's history. If it existed. Which it doesn't and never will. Note that it's not an image of the bike itself that was sold, but the right to call oneself the owner of the image. As for the image itself? Check it out.

There she is, just twirling around, ready to be admired by literally any of us who decide to look at it, but owned solely by someone called User MTD-01.

The next NFT that's made headlines in the cycling world was also sold earlier this year. Our sister site CyclingTips covered the story, in which the Tour de France team Bahrain Victorious unveiled and then destroyed its new team kit. The jerseys, which some assumed the team would, uh, wear, were destroyed shortly after the presentation ceremony, but a digital image of one was minted and auctioned off as an NFT for roughly $400 USD. (It's worth mentioning that the money was donated to the Royal Humanitarian Foundation, which sounds nice until you learn that the RHF is chaired by the very same Sheikh Nasser bin Hamad Al Khalifa that a.) launched Team Bahrain Victorious and b.) has been accused of egregious human rights violations when he tortured dissidents during Bahrain's 2011 pro-democracy political uprising.)

All of that is to say that this Bike Club NFT project is a big step in, well, a direction. I'm not sure which direction, but lord, I cannot wait to find out.

I'll acknowledge that I'm cynical about it, and maybe I'm just old-fashioned and NFTs do have more merit than I like to admit. The idea of staking claim on images that have no physical existence or use isn't all that different from, like, things we care a lot about that do have actual implications for our daily lives, so there's likely something to this whole blockchain thing. If enough people collectively give something meaning, then it could be the most important thing in the world. Money? That exists only by human agreement. Words are just symbolic scribbles and sounds. Time? Social construct. F*ck it, nothing is real and this is all just a fever dream, right? Let's go biking while biking is still part of biking.


204 Comments

  • 418 3
 I understand none of this article and am going to choose to ignore it and go for a ride. The same way I solve all of my problems.
  • 115 0
 A proper ride is about the most non-fungible thing there is.
  • 1 0
 Living the dream!
  • 35 0
 @colincolin: The heck are you talking about, I collect fungi on my rides all the time??
  • 18 1
 Non fungible cream prevents rashes. Always get them right in the crack. That’s why the tokens worth so much
  • 3 0
 @p1ne: Chamois needs washing, too !
  • 5 0
 From what I understand, you put them in the air chamber of your suspension unit and it will make the spring rate more progressive. Which helps if you want to keep the same amount of sag but want to avoid harsh bottom outs. And like anything bike related recently, apparently they got a bit more expensive.
  • 4 3
 The Mr. Poo icon is the best NFT and it’s free.
  • 2 1
 Count me OUT(side)!!!
  • 156 17
 Welcome to the Outside+ Metaverse!

Be safe be well,
Incognito Robin
  • 4 1
 Yup...start buying metaverse stuff now.
  • 10 1
 Fuck the nwo
  • 9 0
 Is that the place where every bike is made by Commencal?
  • 19 2
 @kinematix: Negative. Every bike has a motor and a lefty! Can you imagine how sick that would be!

Be safe be well,
Incognito Robin
  • 10 0
 imagine a world of Wall-E humans, fat and pampered, ‘riding’ their e-Mtbs on virtual trails in deep VR simulations.

Oh wait, somebody already has
  • 2 0
 well, a few people who uy expensive bikes and dont use them would be better playing with pimped out NFTs Pinarellos Yeti GT Edition - Pininfarina cut.. may be .. who knows
  • 5 1
 @jrocksdh: f*ck the metahearse
  • 3 0
 Glad the mtb community is the less cybernetic of all cause nothing can substitute the real videogame... that's why videogame producers knows real mtbikers don't play their games and they have to find other target... We are real threat to the NWO...
  • 62 0
 And we thought eMTBs were the threat...
  • 25 0
 next will be e-eMTBs
  • 9 0
 @tim-from-pa: NFT eMTBs. Not only will you not ride them but you can't ride them. But you are the sole owner.
  • 14 0
 @rcrocha: joke is on you, lots of people have bikes they already can't ride. More evidence coming this Friday.
  • 3 1
 @rcrocha: And about as green as the real thing
  • 4 0
 I'm still waiting for an e-bike I can control with my vr goggles from the comfort of my couch, won't even have to leave the house to shred hard
  • 1 0
 @tim-from-pa: It's funny because it is true.

NFTs form the basis of unique ownership in a digital world.

So in the metaverse you won't just buy any bike but a unique bike.
A signature jersey.
Designer Levi's serial no.1023002
Everything you can buy today in a virtual world.
  • 59 1
 right click, save image as anarchy in the internets
  • 7 5
 Thats what I thought too. But try and sell your copied image and the buyer will see you're not the true owner and thus rendering your copy worthless.
  • 24 1
 @Tmackstab: I'm pretty sure the nft of that Colnago is just as useless as the screenshot I just took of it.
  • 9 10
 @gerhards: Its just a place to park money at the end of the day. Its like buying gold or something. A gold brick is actually useless but it has value because humans as a whole agree it has value
  • 14 0
 @Tmackstab: with the exception of gold is a tangible material that you can make things with.
  • 6 1
 @ww27: And sell for a profit, finding another fool to pay a lot for an 'image' isn't going to be that easy.
  • 1 1
 If we all take screenshots now, the value of the images will go down faster than the webpage we'll sell them on.
  • 2 0
 @TheOriginalTwoTone: Easier than you might think in the current market. “Three great forces rule the world: stupidity, fear and greed.”
  • 1 8
flag Tmackstab (Nov 15, 2021 at 18:36) (Below Threshold)
 @ww27: make things like what though? Jewelry?
  • 7 0
 @Tmackstab: it's also used in electronics, dentistry, and medicine.
  • 5 0
 @ww27: people buy gold as an investment because they still think that if currency collapses that it will have value as currency. The world left the gold standard during the great depression and modern economic theory tells us that its impossible to have currency tied to any asset that there is a fixed supply of.
  • 4 1
 @gerhards: genuinely would love to speak to the people buying this sort of thing and what their motivation is.
  • 2 0
 NFT is not a way to protect copying of images but a method of recognizing ownership of an image. It is intended to ensure the property value of an image, not its irreproducibility
  • 2 0
 You strike me as the kind of person who would download a car.
  • 2 0
 @Tmackstab: And most people don't agree that these have any value. Gold has a bit of a track record too. You can't just copy/paste gold, whereas I can screencap any NFT.
  • 2 0
 @redrook: I agree that gold is a poor comparison, but many NFT's are more than just images and they will continue to evolve to have more functionality. Not trying to be pedantic, but I think it is important to emphasize that the current NFT craze does not represent the totality of this technology.
  • 3 0
 @Burningbird: Yeah for sure, but considering these particular NTFs they are pretty much guaranteed to not be worth anything ever.
  • 1 3
 @redrook: Just to clarify, I'm not defending this new tech, I think its ridiculous. That being said, when was the last time you got paid in gold at work? Its all digital now, my paycheck goes directly into my bank digitally and I pay for things with a piece of plastic. Money is all kept on a theoretical block chain now anyway.
  • 3 0
 @Tmackstab: Curious why you think this tech is ridiculous while also thinking that's how you currently get paid? For the record, your banking is almost certainly done using hard drives and servers and not using blockchain technology. We are heading in this direction though!
  • 2 0
 @Tmackstab: I don't get paid in coffee beans or phone screens either, but both of those are still worth more than the rights (which is effectively what NFTs are) to a crappy graphic. You are making a bunch of false comparisons. There is zero chance we all decide that money (either physical or as most money exists simply numbers in a system) isn't worth anything. Likewise as long as raw materials are used they will be valuable. The same cannot be said of NFTs, and especially these NFTs.
  • 2 0
 @Tmackstab: As has been said, digital banking is not at all the same as blockchain. Not even remotely, other than they are both digital. That's a bit like saying a dining table and a car are the same because they're both physical.
  • 1 0
 Yeah fair points everyone, I actually don't know what I'm talking about, I just wanted to get some discussion going because it really is fascinating times we live in.
  • 2 0
 @friendlyfoe: And I will gladly and genuinely answer, only if your first thought is maybe, instead of no.

These bike NFTs are just hyped by momentum and will be worth zero when crypto nukes for it's bear season. But when you start talking music, record labels, NFT games (think COD gun camos, fortnight skins, and etc.) then you start to get it...Also, just an FYI, $8k for the bike is nothing in NFT land. BAYC or punks have gone for $100m.
  • 1 0
 @Freerideguy14:
So when you talk about 1 off skins/records/etc are you suggesting that only 1 person would be able to have it? or that like current NFTs that only 1 person would own it but everyone could still have it?

I mean the NFTs selling for big money may hold value, or they may not. It's no different than art in the sense that someone could create a forgery of a famous painting that even experts couldn't identify the difference, but the art world would say the original is worth millions and the forgery little to nothing. The price of either is only dictated by people with too much money desiring them.
  • 1 0
 @Tmackstab: cant render something worthless if it already has no worth!
  • 3 0
 @friendlyfoe: You mean copying the JPEG? Yeah, in that sense, in games, only one person could own it. However you can have many editions of one skin or camo or whatever you call them. PLENTY of games are being built on a blockchain or will be built on a blockchain, thus in game, the blockchain verifies ownership or transferring of that NFT (gun, skin, items in game, camo, whatever). Creates a ton of play to earn game scenarios and legal, scam free, second hand markets for the guns and NFT in game items. Tons of kids are already gaming and reaping tons of money from earning in-game items (NFTs). I wouldn't support it if I were a parent, but we all know how gen Z kids are and how addicted so many people are to games.

Music is another one, there's no reason streamed music shouldn't be NFTs. First, to prevent illegal downloads. Secondly, you can program perpetuity into the NFT, so the NFT file creator (of the music file) will get 1% of every play, transaction, whatever they decide. Likewise with in-game item creators (think minecraft). With perpetuity, the possibilities are endless in this digital world with digital stolen files and etc. I can't even think outside of the box enough.
  • 56 8
 waiting for nft and crypto to be the bubble that brings down the economy. It would be so on-brand for this decade.
  • 7 3
 lmao cant wait
  • 14 0
 the sector isn't important enough for a collapse to really fuck anything up too badly absolutely nothing close to a housing market collapse
  • 26 19
 Crypto is basically an elaborate Ponzi scheme…… just like these NFTs
  • 19 5
 Crypto is certainly in a speculative bubble but so were the dot coms. Many failed, some people lost money, but the internet still happened and revolutionized the world. Don't sleep on crypto
  • 8 25
flag jrocksdh (Nov 15, 2021 at 11:13) (Below Threshold)
 Govt spending and Marxist policy already doing that in USA.
  • 8 2
 @Burningbird best analogy i've heard is that crypto is to blockchain what netscape was to the internet. Blockchain will certainly change the future, but crypto could still be something we joke around about in 20 years..
  • 3 0
 @OCSunDevil: I guess it all depends on how you define crypto. For better or worse, we are probably stuck with BTC for the foreseeable future
  • 5 0
 @Burningbird: Yep I don't see BTC going anywhere, the tough part will be trying to guess which other handful will stick around long term.
  • 4 5
 it wont. the thing is so damn isolated from the outside world the rest of the markets didnt even flinched when it crashed 50%+ couple months ago.
  • 10 3
 @Burningbird: Yes, but it's not Crypto that will revolutionize the economy, it's blockchain tech. Crypto itself is a joke. Essentially nothing more than an elaborate Ponzi scheme.
  • 4 2
 @BenTheSwabian: Again, all depends on how you define "crypto." Meme coins are Ponzi schemes but they are only a tiny portion of what currently falls under the banner of crypto. Unfortunately, the Shibas of the world grab all the headlines
  • 6 2
 @jrocksdh: What Marxist policy? Last I checked the all mighty dollar is the only thing makes any one in this country do anything.
  • 2 0
 wait wait Wink meanwhile many of us earn quite a bitWink Bitcoin was supposed to sink 3 years ago and look what? it's still there and will stay there.
  • 2 1
 @Burningbird: That's comparing 2 completely different things. Dot coms offered a tangible service that people could use. NFT's only represent the work that went into something, the value of which is completely speculative and essentially backed by nothing.
  • 1 0
 @DoubleCrownAddict: I wasn't referring to NFTs, I was talking about cryptocurrency in general and programmable cryptocurrency specifically. I'd argue that NFTs more akin to the first personal blogs that appeared long before any social media. They seemed pointless on the surface but ended up being a proof of concept for things to come
  • 36 4
 "While buying an NFT to own the rights to an image..."

Buying an NFT doesn't even necessarily mean you "own" the image in any legal sense. I don't know the specifics for this project, but a lot of them are essentially just tokens with a link to a JPG, and the blockchain preserves the data that the token is owned by [username]. But that by itself doesn't mean that the purchaser owns the copyright for that image.

Really, what you're buying is the right to store the phrase "[username] owns [jpg link]" on a bunch of people's computers. (And of course, contributing to an absurd level of CO2 emissions in the process.)
  • 13 5
 Its about status, like having an ENVE stem that costs $300. Its a way to ascend the dominance hierarchy.

I didn't understand it as a 20-something year old in college. I drove beater cars. Scoured classifieds and the buy/sell section, wasting hours to save $10. While I'm by no means rich now, I do have reliable income and a low mortgage, so I can afford some nice things. I like to wear decent cycling clothing. I like to show up to family reunions with a decent car ("decent" for me is a 2007 Suburban).

NFTs are not about legal ownership, they are about exclusivity. They are about spending money on something thats "nice", and that no one else has in great amounts. Its like showing up to the trailhead with a Cotic or Starling, because few others will have one, even if they don't have a dramatic performance benefit.
  • 6 0
 @hamncheez: Yeah, I understand why people buy them, I was just pointing out the PB article implies NFTs convey legal ownership of an image, whereas in reality most of them do not.

In fact, a good number of them probably won't convey what image you "bought" in 5-10 years. Some store the actual image data itself on the blockchain, but some just use a JPG url, so as soon as the image hosting site goes down, changes its url schema, etc. there won't even be anything linking the blockchain entry to the image "purchased".
  • 5 3
 The latter sentence giving the reason why everything blockchain needs to die. Including Colnago's silly bike picture.
  • 33 1
 Yeah fuck that shit.
  • 33 3
 Upvote if you understood as much as me (zero).
  • 27 1
 NFTs are the pogs of the 21st century.
  • 11 0
 Dont touch my 8-ball slammer with finger divots for proper slamming ergonomics
  • 6 10
flag MikeyMT (Nov 15, 2021 at 10:29) (Below Threshold)
 Tell me you know nothing about NFTs or Web3 without telling me you know nothing about NFTs or Web3.
  • 8 0
 @MikeyMT: ITS PEANUT BUTTER JELLY TIME
  • 2 0
 Pogs have uses and intrinsic value though
  • 7 0
 @boozed: I usually keep about 10 pogs in my pocket at all times for leveling an unbalanced chair or table.
  • 20 0
 how long till people sell NFTs of their Zwift rides?
  • 8 0
 imagine how much the NFTs of all the friday fails are worth
  • 2 0
 Hah ride swift to a virtual swap meet to trade nfts.
  • 24 7
 Is this why we aren’t allowed to use the “R” word anymore?

(I still do, but only because I’m a full on “R”)
  • 9 0
 Sofa King
  • 3 0
 We taught Ed.
  • 4 0
 Roadie?
  • 8 4
 @dlxah: not all R’s are roadies, but all Roadies are certainly R’s.
  • 17 0
 NOOOOO I wanted the guy on the yt with pit viper picture!


(Proceeds to cry like a child)
  • 2 0
 Audibly laughed at this. Thank you
  • 16 0
 they're so low effort too, a sucker really is born every minute
  • 4 0
 They remind me of the stickers I used to get from the dentist in the late 80's.
  • 13 2
 I absolutely love it... you can't fake the kind of hypocrisy surrounding a community that loves to break its collective arm patting itself on the back about its environmental consciousness while riding imported bikes from overseas, tuning in for cloud hosted shredits that are recorded on devices imported around the world from Asian semiconductor factories, and now we can add crypto farmed NFT's to the list. Good times.
  • 1 0
 Crazy times
  • 2 0
 Heh. Nail on head
  • 14 0
 I have absolutely no idea what I just read.
  • 12 1
 So who's money is this laundering?
  • 2 1
 No shit. There are 'Buy Bicoin for Cash Here' ATMs in all the hood corner stores nowadays. Dealers love the service.
  • 6 0
 Buying an NFT does not even mean you are the "owner" of the artwork, unless the artist (or whoever the current copyright owner is) explicitly decides to transfer copyright as part of the NFT transaction.

Otherwise, you own nothing more than the digital equivalent of a certificate of authenticity.
  • 1 0
 Yup, great source of residual income!
Eventually houses will be in these contracts...when crypto accepted by buyer. Then every time house sells, og owner gets some $ Wink
  • 12 3
 Nfts are just a way for people to launder money. change my mind.
  • 8 0
 Now all of you know how it feels to have kids that blow their allowance on in-app purchases.
  • 7 0
 Ffs at least bicyclepubes donated all the proceeds to charity.

For $20 I’ll fire up Microsoft paint and paint you whatever I feel like squeezing out at the moment
  • 9 3
 Blockchain uses a ridiculous amount of energy. Very unsustainable. Supporting it's growth is adding more server farm power hogs to world, which in my opinion is not needed. KEEP IT REAL :-)
  • 3 0
 Indeed! Crazy amounts of energy to sustain one 'proof of work' transaction, they should all be using 'proof of stake'
  • 9 0
 Thanks Alicia
  • 10 3
 Is this run by a Nigerian prince by any chance?
  • 9 2
 fuck crypto miners and all this bullshit regards, gamers
  • 2 0
 what's this? we bought all the video cards and can't find one? Smile
  • 9 3
 This comment is now an NFT. Yours for only 0.1 BTC, or will trade for one of the stolen GG bikes.
  • 3 5
 Eh...NFTs are ERC-721 tokens...aka they live on a ETH side-chain not BTC my man...
  • 11 1
 @MikeyMT: Your comment is now an NFT....Yours for only 5000 $USD. I dont want your stinking Ether.

I just traded an NFT of an xt rear derailleur to a guy for an NFT of some fox cycling shorts on the PB Buy and Sell.
  • 6 0
 What if the wheelset and drivetrain where sold already Asking for a friend of a friend of a guy
  • 4 0
 @Crankhed: 2 frames + I will add a free NFT of the GG article on PB. He can reach me on the PB darkweb site.
  • 2 0
 @Crankhed: then I would offer you a NFT pillow for 9.99
  • 2 1
 @MikeyMT: Point of note to all.. ETH trades are crimes against humanity. They use so much energy per transaction when they could be using a proof of stake system instead.
  • 1 0
 @Leggsington: @Leggsington: If only there were a Bikedano...
  • 1 0
 Welp
,I asked my friend,
to ask his freind,
to ask that guy,
He said he’d have to Sleep on it lol @littleskull99:
  • 6 1
 Money for nothing, no chicks for free, increased emmisons by blockchain and NFT trading stuff and PB "supports" it for the clickbait. Really... Frown
  • 7 0
 Can we have a filter for this tech bull$h!t like we do for e-bikes?
  • 5 0
 Kara "tech" Ris, your username does not check out
  • 2 0
 As if real bike parts weren’t expensive enough, now you can buy virtual bike parts, having no tangible benefit in the real world, to signal how much disposable income you actually have. Also, it’s a bike club that seeks to have riders spend more time staring at their phones rather riding their bike. Yea, good luck with that.

Also, #torigotrobbed
  • 5 0
 I'd be so up for one of these, if only I hadn't blown all my cash on that Supreme brick.
  • 5 1
 I read about a paragraph and a half and said fuck it, the comments will be a lot more entertaining. And probably more informative.
  • 2 1
 I did the same thing… and our assumptions proved correct.
  • 3 1
 This is a great article, both informative and cynical, a terrific combo. Smile There is no question imo that the Outside+ corporate mothership is talking about NFTs and the metaverse, and will do something on both fronts sooner or later. NFTs/metaverse is, in a way, another iteration of putting content and online communities behind a paywall. Instead of buying a “membership,” you buy an nft. Instead of buying a “premium” membership, you buy a more “exclusive” (a/k/a a more expensive with more linked benefits) nft. And it’s not just online immersiveness. Imagine having a Pinkbike-sponsored party at the UCI downhill event in West Virginia, attended by Pinkbike personalities and prominent riders, that is only open to holders of a certain Pinkbike nft. Other nft communities have those sorts of real world meet-ups limited to the nft holders.

When Outside jumps aboard, rereading this article will be even more enjoyable!
  • 5 0
 I just took a picture of myself, can I make an NFT and sell it?
  • 4 1
 No, but only because no one would want to buy it.
  • 3 1
 NFT is being using for money laudering, unique pieces of digital art can be very expensive:

medium.com/@alacergroup/are-nfts-a-money-laundering-gold-mine-ea292a60c0ab
  • 4 0
 Blockchain: A deterrent used to prevent mountain bikers from illegally riding state-lands.
  • 1 0
 I sure I logged into Pinkbike earlier, not the matter between Mark Zuckerburg’s ears…

“ Bike Club hints it may start its own cryptocurrency and / or pursue some type of gamification in the Metaverse and / or form a DAO, or a decentralized autonomous organization...”
  • 1 0
 If everything eventually becomes "unique" via an NFT, doesn't the market for NFTs become so full that each individual NFT becomes a commodity that they become nearly worthless? Or, at least, have no more value than they do today? GIFs and PNGs, except in race circumstances, will trade for small percentages of a cent. The only real winners will be those that talked others into buying in early and padding their bank accounts. It's not like we're buying into Mona Lisa's here - not that we should go down that rabbit hole either...
  • 2 0
 congratulations on finding a way to sell absolutely nothing to hipsters. the dude that sold jack the magic beans got it wrong all along he could have sold him virtual beans and saved the initial investment in said vegetable.
  • 2 0
 This totally sounds like that YouTube clip of a 1990s Morning Show TV host trying to explain the internet to people. And we know that whole internet thing never became nothin....
  • 1 0
 NFT's are a SCAM! You're basically buying a link, that resides somewhere on someone's computer somewhere, and that can go 'poof' at any time......Dumbest thing ever. But, if you like throwing money into the void, go right ahead, Einstein!
  • 2 0
 Oooh goody. I will purchase these! Along with my flight attendant, AXS drive train, Kashima bike rack, Yeti E-bike, and gold plated supercar. Also, SOMEONE HURRY UP AND GET US A BIKE SPECIFIC BITCOIN!
  • 1 0
 Said by others already, but the energy used to verify the blockchain is supposedly daft. Quick google gives me this:"Currently, a single Ethereum transaction consumes as much electricity as an average U.S. household uses in a workweek—and has a carbon footprint equivalent to 140,893 Visa credit card transactions or 10,595 hours of watching YouTube". Plans a foot to reduce this, but even if its overstated its a waste. I simple can't imagine having 8k to spend on the rights to an item that' s a drain on the environment as well as my bank balance.
  • 3 0
 I wonder if you can use your e-bike battery to run your crypto mining operation so you can buy more NFT's.
  • 6 3
 Even typing or saying the words "NFT" and "crypto" use more electricity than a normal household does in a year
  • 4 1
 At this rate the ideal mountain biking world will include never actually riding a bike at all.
  • 4 0
 That's what the de growthers want.
  • 5 0
 @L0rdTom: stay inside with Outside!
  • 5 1
 Imagine having so much money that buying an NFT is a good idea.
  • 2 0
 Hmm “ NFT” S
our. U
tku C
ne K
E
R
  • 2 2
 We are doing Free NFT Giveaway! Drop your wallet address and join the discord! Individually made 3D Art that is connected to our 3 company product brands: Exotic Pop Shop, Bigfella Bar and Snitch O's Cereal.
opensea.io/kingcandymanclub
Link to our Discord
discord.gg/QV8dKAfQKf
Instagram.com/exoticpopshop
candymanvendingservice.com
  • 9 5
 #scams
  • 3 1
 @OutsideCEO how can we profit off this why projecting sustainability and inclusion?
  • 5 2
 get well soon, kyle warner
  • 3 1
 based on the numbers in this article, the avatars will be sold for a minimum of $400, presumably to 10,000 idiots
  • 3 0
 I dont want NFT
I want OG PB
Ya know Salute
  • 1 0
 Just going to start playing Ahnohni's "4 degrees" as I buy a pic of an ape in a cycling helmet with enough electricity to power a small nation for a year.
  • 3 0
 Wish I had Non Fungal Toenails
  • 1 0
 Is anything going to be safe from this crypto gold rush? They are consuming every available resource they get their hands on.
  • 4 2
 I clicked on the article, are you happy now???
  • 2 0
 This business is just a solution looking for a problem
  • 4 1
 The problem is: how will we launder our money today?
  • 2 0
 how many bottle mounts does it have?
  • 2 0
 Ok, now explain it to me like I’m a 4 year old.
  • 3 2
 Digital property rights - something that has never been able to exist before, enabled by what people call Web3 aka decentralized web. Don't sleep on this shit.
  • 7 2
 It's like a totally unique and collectible jpeg brah.
  • 6 2
 A terrible solution for a problem that doesn't exist.
  • 3 0
 Thanks, I hate it.
  • 5 3
 Please stop promoting these scams Pinkbike
  • 13 2
 I'm not convinced that your definition of promoting is the same as my definition of promoting
  • 2 0
 @alicialeggett: Agreed, it's news...probably. On the other hand, giving this exposure to the PB audience does bring value to the people that will benefit if others buy in. I think that fits "promoting". It's a great article for clicks and comments though, so I can't disagree with the justification to post it from the PB point of view. (PS. This isn't posted to be negative, just to clear the air that any space given to an idea by PB brings value to it.)
  • 2 0
 @alicialeggett: Okay please stop uncritical reporting of obvious scams as if they're anything but scams because it normalises them.
  • 2 0
 I just want a picture of a goddamn hot dog
  • 1 1
 Mountainbike Origins, 20 1/1 photo NFTs - the first of it's kind in the world:
opensea.io/collection/mountainbikeorigins
  • 1 0
 NFT = WTF?

PBJ > NFT

BLT > NFT

NFT: A new way to part fools from their money................
  • 1 0
 Translation: there a way for the rich to loose money on art to pay less tax.
  • 1 0
 @pink505: Do you need VR goggles to see yourself wearing said shorts in a virtual, metaverse "mirror"?
  • 2 1
 Wait, NFT's are still a thing? Hum.
  • 2 2
 Of course it has - cycling has disposable income and a thirst for status. Kashima NFT rack tokens, ebike rated, inbound.
  • 3 2
 Thanks Outside. (slams palm into face as hard as humanly possible)
  • 2 1
 You're welcome! Be safe be well, Incognito Robin
  • 3 0
 FWIW, one of the cofounder's of this effort runs Bikerumor. Jus' sayin.
  • 2 0
 Bruh
  • 1 0
 Huhhhh? Yeah, what he said...
  • 2 0
 Hahaha
  • 2 0
 Wot
  • 2 0
 Stop it.
  • 1 0
 No.......Fvckin........Thankyou
  • 2 0
 what a load of tripe.
  • 1 0
 Is it trading on Coinbase?
  • 1 0
 Oh how I yearn for simpler times...
  • 1 0
 Why would anyone want an NFT?
  • 2 0
 Thanks, I hate it.
  • 1 0
 normie problems, wheres my latest mtb news
  • 1 0
 NFT's are covered in part 10 of Cathro's biking series
  • 1 0
 How are these different from normal volume tokens?
  • 1 0
 Complete Garbage People are idiots more than ever
  • 1 0
 In the future, you'll own nothing and premium to do so
  • 1 0
 90s Morning Show compilation: www.youtube.com/watch?v=95-yZ-31j9A
  • 1 0
 That's it, I'm bringing the pet rock back. Virtual of course.
  • 12 11
 how pinkbike has fallen
  • 1 0
 lmfao
  • 5 4
 Okay, boomers.
  • 1 0
 Right clicks
  • 1 0
 Right click. Save as.
  • 1 0
 A what now ?
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