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Interesting piece by W. David Marx that situates NFTs within the category of Status Symbols. Marx is among the most lucid watchers of culture with a focus on Ja
by artfulhippo 5y ago
Interesting piece by W. David Marx that situates NFTs within the category of Status Symbols. Marx is among the most lucid watchers of culture with a focus on Japan, where fashion and futurism converged decades ago.
- hermitcrab 5y agoIf you tell me you have spent thousands on an NFT, then I will assume you are an idiot. And I'm sure lots of other feel the same way. So not a great status symbol.
- deleted 5y ago[deleted]
- xx511134bz 5y agoIts an interesting piece, people just reading the comments or commenting on NFTs in general are missing out. >>[Status symbols] also need alibis, plausible excuses for ownership other than the intentional acquisition of status symbols ... The best alibi for NFTs is that they are an investment ... to cunningly flip later. So when the market becomes saturated and the ability to flip (aka the alibi) is gone, will the market collapse?
- hermitcrab 5y agoBubbles keep growing until they run out of suckers. Those who get out before the bubble bursts might make a lot of money. Everyone else will lose the lot. It happened with the South Sea Bubble, Tulipmania, Bernie Madoff, Onecoin and any number of other bubbles/scams. Isaac Newton, one of the smartest men who ever lived, lost loads of money in the South Sea Bubble.
- hermitcrab 5y agoIncidentally that "you" was intended generic. I wasn't referring to anyone in particular!