3 ms·
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 e
by 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".