NFT projects are just MLMs for tech elites
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Re: NFT projects are just MLMs for tech elites
#2> The venn diagram of NFT haters are almost exact matches of Crypto haters
Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic.
Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
Re: NFT projects are just MLMs for tech elites
#3This would have been more interesting if the author had traced where all the money being plowed into NFTs is coming from.
I suspect that most of it does not come from outside of the current ETH (or whatever) ecosystem. I'd bet that most of the volume comes from people who are either treating it as play money, or trying to pump the NFT scam for their own benefit (real or imagined).
Re: NFT projects are just MLMs for tech elites
#4> The venn diagram of NFT haters are almost exact matches of Crypto haters Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic. Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
> There are an infinite number of potential NFTs.
That doesn't mean there is an infinite number of any given collection.
Re: NFT projects are just MLMs for tech elites
#5eyeroll I won’t deny that there are tons of NFT projects that are nothing more than modern day tulip mania. On the other hand there is an entirely new world of opportunity that has never existed before for both common people, artists and corporations in the form of DeFi projects.
Basically any distributed form of ownership you can imagine is now possible through NFT and DAOs. There has never been a better time to learn about it either.
Re: NFT projects are just MLMs for tech elites
#6> The venn diagram of NFT haters are almost exact matches of Crypto haters Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic. Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
Interesting. I actually think that scarcity is the only thing that NFTs have. I almost think of them as the purest distillation of scarcity. Everyone knows you can get a perfect copy of a Vermeer done for $10k. Why is the real Vermeer worth more? Because the guy with the real Vermeer knows that while you can have the lighting and you can have the shadows, you can’t have the scarcity. And the concept of an NFT is just the end game of that line of thinking.
Re: NFT projects are just MLMs for tech elites
#7> The venn diagram of NFT haters are almost exact matches of Crypto haters Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic. Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
> There are an infinite number of potential NFTs. That doesn't mean there is an infinite number of any given collection.
Any given collection will have all the staying power of a beanie baby. Everyone moves on to the next non-fungible thing.
Re: NFT projects are just MLMs for tech elites
#8> The venn diagram of NFT haters are almost exact matches of Crypto haters Nonsense. I'm pro-crypto but think NFTs are absolutely idiotic. Scarcity is fundamental to any store of value. There are an infinite number of potential NFTs.
The venn diagram of crypto people who think NFTs are absolutely idiotic almost exactly matches the venn diagram of crypto people who haven't really dug in and tried to understand NFTS.
Re: NFT projects are just MLMs for tech elites
#9Earlier quoted context omitted.
> There are an infinite number of potential NFTs. That doesn't mean there is an infinite number of any given collection.
Any given collection will have all the staying power of a beanie baby. Everyone moves on to the next non-fungible thing.
> will have all the staying power of a beanie baby.
You're making a future prediction about an entire category invoking a specific instance from physical collectibles. Have all physical collectibles been subject to the fate of beanie babies?
Re: NFT projects are just MLMs for tech elites
#10Here’s an amazing email from Hal Finney on proto-NFTs 1993-
I think people who have been in bitcoin for 10 years are more skeptical of NFTs because suddenly they’re framed as the ultimate crypto use case. And Eth is ultra sound money. And while there’s some interesting generative art (eg deafbeef) most of the industry is hyping NFTs for videogames.
There are better and more transformative use cases than just the “metaverse”.