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> “The restaurant is on public property, so we’re somewhat obligated to keep it accessible to the public,” Sigel lamented. “But the membership component really
by rchaud 4y ago
> “The restaurant is on public property, so we’re somewhat obligated to keep it accessible to the public,” Sigel lamented. “But the membership component really gives us an opportunity to curate and create experiences, and provide a level of access and service that you just can’t do at scale.”
Yet again, the NFT is nothing more than a fig leaf for the business model of exclusivity-as-a-service. If cryptocurrencies are speedrunning monetary economics, NFTs are speedrunning golf club memberships.
Hilariously, just as art NFTs are backed by nothing other than a CDN capable of serving PNGs, these restaurant NFTs managed to be sold even without a functioning restaurant underpinning it.
- DANmode 4y ago"Speedrunning" keeps coming up in these contexts, and I keep reading it as a positive that these communities are learning their lessons sometimes hundreds of years faster. Systems will always have some of the same hiccups when being adopted by (sometimes unaligned) humans. If, and how quickly, the system can recover, I believe is a major differentiating factor.
- rchaud 4y agoHumans learned from the mistakes of the wildcat bank era of 1800s America by instituting regulations and eventually centralizing under single currency. There was no ideological basis for this, aside from people's desire to use a currency that was widely accepted. The crypto community has LUNA 2.0 token doing the rounds, plus about 10 different currencies using some variant of Elon Musk's name. Nuff said.