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Devils advocate here, but crypto does disrupt a free sharing economy that's on the internet and part of the magic of it. Yet maybe there are benefits in terms
by hemloc_io 5y ago
Devils advocate here, but crypto does disrupt a free sharing economy that's on the internet and part of the magic of it.
Yet maybe there are benefits in terms of making previously economically inviable things viable. People making passion projects are great, but at the end of the day they are creating value for people that's almost never reciprocated in other ways and tokenizing things lets them capture that value or add new value to what their selling.
e.g. with NFTs right now you have three parties,
the buyer -> who gets provenance ("ownership")
the digital artist -> who makes more money off their art than was possible before because rarity is built into the price now. (Non-fungible, unlike selling prints tshirts etc.)
everyone else -> who can still copy and share the work for free, as before.
I feel like this should be a growth engine for digital artists, that has minimal impact on the general public, and everyone walks away happy with the transaction. (Putting aside scams b/c the market is unregulated, environmental concerns, etc. just talking economics.)
- kawaiikouhai 5y agoPutting away the scams, environmental concerns, and lack of regulation is a big caveat though. They are an inherent cost to the crypto space that currently lack an immediate resolution (to my knowledge). How much "previously economically inviable things" are captured by NFTs and crypto anyways? I have not seen any potential usescases that outweigh even the inherent environmental cost of cryptocurrency.