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> NFTs are probably best thought of as a recapitulation of status goods into the digital world Status cannot be manufactured, it spurs naturally due to having

by GDC7 5y ago

> NFTs are probably best thought of as a recapitulation of status goods into the digital world Status cannot be manufactured, it spurs naturally due to having rare things such as a big mansion, grammys, academy awards, winning the Super Bowl , winning the NBA title, winning the World Series etc. All those things are both rare and cannot be copied. NFTs instead are easily copied idividually (right click) or even in bulk as this torrent file proves. Second life did a much better job at representing status goods in the digital world than NFTs. And I know people in here don't want to hear it, but given its history and its budget Zuck's Meta will improve upon what Second Life did and knock it out of the park like it did with social networks.

lottin 5y ago
Agreed, and NFTs are probably conferring anti-status, rather than status, considering NFT owners can be easily perceived as simpletons who have fallen for an obvious scam.
Vetch 5y ago
While I agree such transactions and dynamics make more sense in established widely accessed virtual worlds, status can in fact be manufactured. I can give two examples. In the art world, wealthy collectors will overbid on works by artists within their collection to hugely inflate their price. There is also a large amount of pressure on appraisers to overvalue work and for Art houses to turn a blind eye to some known forgeries. The wealthy will donate to museums to lend to an air of prestige to their collections (with tax evasion by charity write offs a nice bonus) and, whenever forgeries are found in collections, lawsuits and bribes are used to silence all but those with rare levels of integrity. A less exclusive but still grossly over priced example is the recent world of fast fashion product drops. There, mass produced, cheaply manufactured, labor exploited goods are sold for many times their production costs by creating an illusion of scarcity and prestige. This is done by manipulative marketing tricks where social media and celebrity worship are key vehicles. This, sadly, is the nature of humans. NFTs are in the process of attempting to install themselves as status goods. That is the psychology when denouncing "right clickers".
5560675260 5y ago
> NFTs instead are easily copied idividually (right click) or even in bulk as this torrent file proves. No, you're copying a piece of media that NFT links to. What you're not copying is a verifiable claim of spending unreasonable amount of ETH to have a record in blockchain pointing to that piece of media.
- GDC7 5y ago
  > What you're not copying is a verifiable claim of spending unreasonable amount of ETH to have a record in blockchain pointing to that piece of media. POF? Proof-of-foolishness?

by GDC7 5y ago

lottin 5y ago

Agreed, and NFTs are probably conferring anti-status, rather than status, considering NFT owners can be easily perceived as simpletons who have fallen for an obvious scam.

Vetch 5y ago

While I agree such transactions and dynamics make more sense in established widely accessed virtual worlds, status can in fact be manufactured. I can give two examples. In the art world, wealthy collectors will overbid on works by artists within their collection to hugely inflate their price. There is also a large amount of pressure on appraisers to overvalue work and for Art houses to turn a blind eye to some known forgeries. The wealthy will donate to museums to lend to an air of prestige to their collections (with tax evasion by charity write offs a nice bonus) and, whenever forgeries are found in collections, lawsuits and bribes are used to silence all but those with rare levels of integrity. A less exclusive but still grossly over priced example is the recent world of fast fashion product drops. There, mass produced, cheaply manufactured, labor exploited goods are sold for many times their production costs by creating an illusion of scarcity and prestige. This is done by manipulative marketing tricks where social media and celebrity worship are key vehicles. This, sadly, is the nature of humans. NFTs are in the process of attempting to install themselves as status goods. That is the psychology when denouncing "right clickers".

5560675260 5y ago

> NFTs instead are easily copied idividually (right click) or even in bulk as this torrent file proves. No, you're copying a piece of media that NFT links to. What you're not copying is a verifiable claim of spending unreasonable amount of ETH to have a record in blockchain pointing to that piece of media.

GDC7 5y ago
> What you're not copying is a verifiable claim of spending unreasonable amount of ETH to have a record in blockchain pointing to that piece of media. POF? Proof-of-foolishness?