|SolRo - 2022-01-25 |
|jangbones - 2022-01-26 |
so far watched half of this, and it features very good explanations of certain obscure facets of NFTs
the overarching points this video makes even more clear;
-the primary function of NFTs is to puff cryptocurrency
-crypto is a somewhat novel and complex scam, it has no real value, niche, or future besides widening income inequality
the primary function of NFTs is to puff crypto, but the primary result of NFTs has been exposing just how many human beings have far too much money
Oooh and there's the sequel. I agree btw, but the highlighting of how many morons have too much money is more of a bug than a feature.
|ashtar. - 2022-01-26 |
For all the ink spilled about NFTs and crypto, they're not fundamentally that complicated. They're a purely speculative asset. Other than some novel mechanisms behind them, that's all there is.
When the fed raises rates to combat inflation some time soon, I wonder if that will be enough to induce a crypto panic and sell off?
|xennui - 2022-01-27 |
Up until August I worked at Brud, the studio behind virtual Instagram celebrity Lil' Miquela. They got big on NFT's, sold the first one for $86,000. Now they're worth about $10 to $30.
So the company shifted to DAO hype and a governance-token-based voting system where you get to decide what shoes Miquela wears. It's like a really expensive DAZ 3D crossed with Google Forms. Only they've been working on it for a year and still haven't released the Brud Tokens because technically/conceptually that shit doesn't really work.
They recently got bought by Dapper and everyone's now making shit-tons of money for doing basically nothing but talking about how DAO will change the world.
tldr: I worked for a world-changing DAO and all I got were these shitty NFTs.
We’ve transitioned to a tech-hype economy.
We manufacture buzzwords at startups in the hopes of fooling some old money types to buy the buzzwords they don’t understand so that we ourselves can become old money.
I used to say that when you've no "real economy" left, the only high-class work you can do is rent-seeking, but I guess there's always scamming too.
| Register or login To Post a Comment|