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"one man stumbled drunk through the party, wearing a tablet displaying an NFT cat cartoon around his neck. He was grabbing strangers for stability and telling t

"one man stumbled drunk through the party, wearing a tablet displaying an NFT cat cartoon around his neck. He was grabbing strangers for stability and telling them how owning his Cool Cat “changed my life.” “Before this cat, I was a loser,” he said to anyone who would listen, “but now, because of this community, my life means something." Not. Sustainable.

pjc50 5y ago
https://www.coingecko.com/en/nft/cool-cats https://www.coingecko.com/en/nft/cool-cats : man's been given a sense of purpose and belonging, and it only cost him thirty-seven thousand dollars? I'm sure we could all write whole essays on the atomisation of society by reducing it to transactions, and the desperate attempts of people to buy their way back in. On the other hand, this is hardly a new phenomenon, it's every nouveau riche all the way back to Elizabethan sumptuary laws and beyond.
- deleted 5y ago
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- arethuza 5y ago
  Reminds me of this quote from Michael Lewis: "Yet another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets."
- cableshaft 5y ago
  > https://www.coingecko.com/en/nft/cool-cats https://www.coingecko.com/en/nft/cool-cats : man's been given a sense of purpose and belonging, and it only cost him thirty-seven thousand dollars? "Priced at 0.06 ETH each, Cool Cats first sold 300 NFTs, before lowering the price to 0.02 per mint. It took about eight hours to sell out, and in the days to come, the project would begin to explode across the NFT ecosystem."[1] They might have bought one at mint, which at ~$2200 ETH prices in early July 2021, 0.02 ETH would have been around $44. $44 on something that is now worth a minimum of $37k in less than six months can be life-changing. And if he got a more rare one it could potentially sell for 50-300 ETH, or 180k-1.1million USD. Considering I've heard people say that $10k in student loan forgiveness would be life-changing for them, I'd say that's pretty life-changing. [1]: https://nftnow.com/guides/cool-cats-guide https://nftnow.com/guides/cool-cats-guide

pjc50 5y ago

https://www.coingecko.com/en/nft/cool-cats https://www.coingecko.com/en/nft/cool-cats : man's been given a sense of purpose and belonging, and it only cost him thirty-seven thousand dollars? I'm sure we could all write whole essays on the atomisation of society by reducing it to transactions, and the desperate attempts of people to buy their way back in. On the other hand, this is hardly a new phenomenon, it's every nouveau riche all the way back to Elizabethan sumptuary laws and beyond.

deleted 5y ago
[deleted]
arethuza 5y ago
Reminds me of this quote from Michael Lewis: "Yet another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets."
cableshaft 5y ago
> https://www.coingecko.com/en/nft/cool-cats https://www.coingecko.com/en/nft/cool-cats : man's been given a sense of purpose and belonging, and it only cost him thirty-seven thousand dollars? "Priced at 0.06 ETH each, Cool Cats first sold 300 NFTs, before lowering the price to 0.02 per mint. It took about eight hours to sell out, and in the days to come, the project would begin to explode across the NFT ecosystem."[1] They might have bought one at mint, which at ~$2200 ETH prices in early July 2021, 0.02 ETH would have been around $44. $44 on something that is now worth a minimum of $37k in less than six months can be life-changing. And if he got a more rare one it could potentially sell for 50-300 ETH, or 180k-1.1million USD. Considering I've heard people say that $10k in student loan forgiveness would be life-changing for them, I'd say that's pretty life-changing. [1]: https://nftnow.com/guides/cool-cats-guide https://nftnow.com/guides/cool-cats-guide