> Spikes—wearing the standard black turtleneck, jeans, and tennis shoes associated with Steve Jobs and Elizabeth Holmes—announced that MoviePass is moving towar

> Spikes—wearing the standard black turtleneck, jeans, and tennis shoes associated with Steve Jobs and Elizabeth Holmes—announced that MoviePass is moving towards a system where people watch ads to earn virtual currency that they then spend on movies. What a joke. These people are parodies of themselves. > Spikes said that all of this will happen locally on the users phone. “Part of the direction we’re doing from a web3 perspective is, this is happening only on your phone, uniquely to you, and the credits that are earned are your credits that go into your virtual wallet that you get to spend,” he said. “So it’s your own money.” Creating something with it's own "currency" is all it takes to be web 3? And it's not "money". All it effectively is is a gift card that for some reason the decided to call virtual currency. Since they use the term "virtual wallet" I'm guessing it's using blockchain technology. What's the point? Who cares if you store the gift card itself on your phone instead of a pointer to your gift card on their server? So you can transfer your credits to someone else without Movie Pass knowing? Innovative! The fact that they're stored on your phone doesn't make them any more valuable. If theaters stop accepting these credits your credits are worthless no matter where they are stored. So really what I'm getting at is how is this any better than just paying someone with gift cards for watching ads?