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a16z? They "Why" being massive financial return. The most charitable interpretation is that it's a way to reward artists for creating digital art in a new way.
by fossuser 6y ago
a16z? They "Why" being massive financial return.
The most charitable interpretation is that it's a way to reward artists for creating digital art in a new way.
The HN article for this comment thread shows the risk here though. If the monetary incentives become pushing these tokens, then the most successful 'creators' will be the people that can maximize getting people to pay for these dumb tokens. The incentives are bad and you end up with the 'artists' being mostly ICO style scammers.
It's like the corrupting influence of ads on media, tokens value will be a similar but different corrupting influence.
You could argue how is this different than monetizing anything? I think it's because of the pseudo-value/speculation driving people to spend more on the hope of a future return. That's the psychological hack of fake scarcity.
- ThomPete 6y agoPokemon cards, collectors card, Fortnite skins, art, watches and I could go on. All these and many many more things are thing people pay money for without any conspiracy behind. These tokens are already diversified beyond anyones control.
- fossuser 6y agoArguably in app purchases have already corrupted a lot of the game space into slot machines. Tokens take that a step further and make it worse. Incentives create the world. On one side you have Apple Arcade trying to align incentives for a better global outcome/end state. On the other you have in-app purchases, loot boxes, and NFTs - trying to maximize profit for the house.
- ThomPete 6y agoagain you cant take the human minds tendency to attach value to things in their life and to operate in hierarchies. NFTs were inevitable as tokens of value because they function as physical objects. You can say thats a scam but all ypu are saying is that you dont yet attach value to NFTs. Anecdotes are not the way to validate your claim though.
- fossuser 6y agoThey don’t function as physical objects though, people just pretend they do - that’s the scam part.
- ThomPete 6y agoThat's not the right premise for the discussion. A stone is a physical object, some stones are worth more than others. You can call the fact that humans apply value to thing a scam but that would give you a suboptimal understanding of the world.
- deleted 6y ago[deleted]