The ironic value of NFTs

You're probably reading this post-NFT-bubble. If not, I have learned more from this article than you will.

Anyhow, Non-Fungible-Tokens (NFT) ...WTF? 

I say they're no good. I see no value in owning a single instance of a freely available and reproducible commodity. It's like owning a sound. The main reason to value an NFT is because others do.  

For me, this passage from White Noise, is the key to understanding the enthusiasm for NFTs:
We drove twenty-two miles into the country around Farmington. There were meadows and apple orchards. White fences trailed through the rolling fields. Soon the signs started appearing. THE MOST PHOTOGRAPHED BARN IN AMERICA. We counted five signs before we reached the site. There were forty cars and a tour bus in the makeshift lot. We walked along a cowpath to the elevated spot set aside for viewing and photographing. All the people had cameras; some had tripods, telephoto lenses, filter kits. A man in a booth sold postcards and slides--pictures of the barn taken from the elevated spot. We stood near a grove of trees and watched the photographers. Murray maintained a prolonged silence, occasionally scrawling some noes in a little book. 
     "No one sees the barn," he said finally.

What starts as irony fossilizes into earnestness, via naivety. 

I also see this pattern in the recent GameStop gambit

It's an empty game, and I'm not playing.

Change my mind :).

Please share this post. If you comment, I'll reply. Thanks for reading!
If your interests extend to theory and philosophy, please check out my other blog.


Popular Posts