That’s not a traditional view of investing or the manner in which securities are built to be valued, but it is admittedly the modal paradigm to which we are subject.
A part of me loved the idea of decentralized finance (punk as fuck if it hurts centralized finance) and was rooting for NFTs if they were going to be used to restore ownership rights for digital property but… That’s not what happened. It’s all grift.
There’s something to be said that bitcoin and other crypto like it have no intrinsic value but can represent value we give and be used as a decentralized form of currency not controlled by one entity. It’s not how it’s used, but there’s an argument for it.
NFTs were a shitty cash grab because showing you have the token that you “own” a thing, regardless of what it is, only matters if there is some kind of enforcement. It had nothing to do with rights for property and anyone could copy your crappy generated image as many times as they wanted. You can’t do that with bitcoin.
That’s not a traditional view of investing or the manner in which securities are built to be valued, but it is admittedly the modal paradigm to which we are subject.
Which is why NFTs work. They’re refreshingly honest: They represent nothing of any kind of value, yet are valued. Something something fetishism.
A part of me loved the idea of decentralized finance (punk as fuck if it hurts centralized finance) and was rooting for NFTs if they were going to be used to restore ownership rights for digital property but… That’s not what happened. It’s all grift.
There’s something to be said that bitcoin and other crypto like it have no intrinsic value but can represent value we give and be used as a decentralized form of currency not controlled by one entity. It’s not how it’s used, but there’s an argument for it.
NFTs were a shitty cash grab because showing you have the token that you “own” a thing, regardless of what it is, only matters if there is some kind of enforcement. It had nothing to do with rights for property and anyone could copy your crappy generated image as many times as they wanted. You can’t do that with bitcoin.