I really like this question and the challenge of answering it. I believe what makes NFTs different is a transformative vision of a future that true believers find inspiring and achievable. In their eyes, the current speculative bubble is a mechanism for growing something enduringhttps://twitter.com/AriDrennen/status/1450652779198910465 …
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And it is also, like everyone points out, a massive scam that will hurt regular people the longer the bubble is allowed to inflate. But it's not just "name a star", it's "name a star" with the promise that you'll get to visit in a rocket very soon, if only enough people believe.
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And I deserve a goddamned medal for 12 tweets on this without a single mention of Communism.
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Here
@nyquildotorg makes a good point, that NFT culture in particular is also Herbalife for young artists, promising them self-reliance and the ability to live off their work if they buy in, assuring them that every garage band can be U2 on the blockchain.https://twitter.com/nyquildotorg/status/1450889518291173376 …Show this thread
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Oh they have a spiritual hunger all right... a spiritual hunger to get rich quick.
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^^^^ this. The "young people" observation x100. I remember 'young'; my savings were minimal. Going all-in on something wasn't that risky. Going all-in is a rite of passage and crypto/nft is packaged just so perfectly to feed all that malaise and angst
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Your observation is astute, but think it's only true for a *very* small number of people involved in the "movement". The ones that have an intellectual rationale are very few and if there is a dominant crypto ideology it's one of accelerationist nihilism, not of hope for future.
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Agreed; the vast majority are either newcomers trying to make a quick buck, or hustlers that are milking this for all that it is worth
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Sound thread. The problem is that instead of rejecting the ravenous Wolf of Wall street mentality that f*cked their generation they're gleefully adopting it - or at least not understanding the consequences of passively watching as hoards of hollow speculators co-opt the tech.
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Are they mirroring unexamined failures though? Most projects are replicating well examined, successful systems that were already serving millions, sometimes billions, of users/customers. Just not in a way that suits their beliefs.
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Personally i belive that it feeds on man s appetite for wealth
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