On Thursday, my colleague Kevin Rose sold a cryptocurrency in a newspaper column for more than half a million dollars. (For charity) Someone paid $ 69 million for a digital collage file that anyone can view online.
This is part of a behavioral obsession with dysfunctional signs or NFTs; they are an example of people rushing to judge something new, something new.
I have a few direct conversations. The proliferation of NFTs is unlikely to be the world-changing revolution that its proponents claim. And this is probably not a completely absurd bubble. Like other emerging technologies, there is a good idea if we slow down and resist the excitement of advertising.
Let me explain to normal people what is happening. NFT is essentially a digital conversion tool that can be endlessly copied into one genre. When someone buys NFT, what they effectively get is the knowledge of the official version of the cat with a Pop-Tart body, a song, a basketball junk video or something virtual. Property records are stored on the blockchain.
This may seem confusing or silly to you. Pull it aside for a minute.
Basically, my beef about NFTs is how people, especially those who live, breathe technology, talk about them և other emerging companies or concepts, including blockchain, audio chat room, Clubhouse և high-speed trains.
Almost immediately, people line up in camps to announce that THIS WILL CHANGE THE WORLD TO SAY AL SECURITY WAS DONE BY EVERYONE. We would all benefit from more breathing, less breathing.
Many things in life are neither glorious revolutions nor destructions. And behind most novels is often the possibility of something useful. The problem is that arrogance and greed often make it difficult to sort out the promise of horse manure. So let’s take a step back.
The supposedly big idea behind NFT is to solve a problem created by the Internet. With YouTube և sites like TikTok, everyone now has the power to focus on creating music, writing, entertainment, or other creative work. But the Internet has not really fulfilled its promise to provide the masses with a better life than their loved ones.
The NFT և related blockchain concept promises to partially enable people to make their work more valuable by creating scarcity. There are promises to allow creators to rely less on intermediaries, such as social media companies, art dealers, and music streaming companies.
Will any of this work? I do not know Running shouting from anyone who has the final answer. In fact, everyone should listen to the wise, measured Anil Dash, a veteran of the tech industry who accidentally came up with the idea behind the NFTs;
That said, the NFTs are unlikely to fix the broken economics of music streaming or dismantle the power structures of the world of journalism and the arts. I’m sorry, I’m a record holder, but technology is not magic. Similarly, secret currencies are probably not an effective solution for inaccessible housing. A complex և expensive train may not be the best solution to our global warming և car dependence.
So are NFTs a balloon inflated by unusual financial conditions? Our brains turn into an’s in an epidemic. Definitely, are these Beanie babies meaningless to the tech-savvy brothers who are destroying the planet with all the energy they need to create digital signs? Not completely, no.
Maybe they are somewhere in between. And that’s good.