- NFT News
- 7 day market: https://cryptoslam.io/
- External/Internal news:
- OpenSea is reimbursing users who sold NFTs below market value
- Frog Nation dies. Miles Deutscher on Twitter: "🧵: What happened with @danielesesta and @0xSifu? In this thread I'll cover: - What went down regarding the @danielesesta @0xSifu scandal - What happened to $TIME, $SPELL and $ICE - My thoughts on the situation - What this means for the crypto market Let's dive in.👇 1/19" / Twitter
- Affordable project
- https://lizardlab.io/
- Quick highlight on any past projects: Keep Us Honest Affordable Project Tracker
- Go through the AAA valuation checklist
Theme:
- The Payday for Failure makes it irrational to succeed
- https://youtu.be/YQ_xWvX1n9g?t=4117
Economics of a scam/intended rug pull
“Squid Game”-inspired token? It boomed to $2.8k+ per coin, then plummeted after the developers claimed they were hacked, sold their coins, deleted their socials, and bounced with an estimated $3.3m.
Line Goes Up arguments
- Crypto sucks because it’s still controlled by rich and is fragile
- ETH was funded by Peter Thiel, even forked when rich were hacked creating ETH classic.
- Hyper consolidation of wealth by few wallets
- Crypto is an energy drain
- NFTs suck because there are so many scam projects and people are getting ripped off through all kinds of hacks in an unregulated market
- NFT play to earn Axie Infinity is just a digital sweat-shop.
- DAOs are just PM software not the novel industry changing tech they’re being hyped as.
- Ponzi scheme of packaging and reselling vapor similar to the 2008 mortgage backed securities.
- Social inequity still exists in Crypto and isn’t an equalizer, just same game on a new playing field.
- NFTs want to ownership all the things leading to a dystopia
Counters
- Kernal of truth popcorn of confusion
- Lotta good points, but beware of absolutism whenever you see it.
- Emails suck because of spam and scams
- Computers that were calculators at first took up entire rooms and tons of energy for what a person could do with a pencil. Early tech is inherently inefficient
- Play to earn is not fun on Axie - agree, but just taking selective tweets as testimony might miss what it’s like to earn money if you have none: https://www.aseanbriefing.com/news/minimum-wages-in-asean-for-2021/
- Tech alone doesn’t fix human behavior