DAOs and the Token Paradox

https://gaby.mirror.xyz/zqchiBQhWWS49gaabLU92-BUUwfBL5aHCtNT88VTI8o The problem here — in what I call the Social Token Paradox — is that with this mental model, tokenized communities are incentivized to uphold exclusivity. Let’s work backwards: if you want your community to be valuable, you need your community’s token to go up in price. This makes sense, sure. But to make theContinue reading “DAOs and the Token Paradox”

Sleepminting NFTheft

https://nftheft.com/ https://nftheft.com/woman-with-stick-cat/ https://news.artnet.com/opinion/sleepminting-nftheft-monsieur-personne-1960744 Some corporations have convinced you, that provided on Ethereum, NFTs are unique and secure and would solely belong to you if you chose to purchase them. Well… surprise: this is nothing but a carefully constructed hoax to make you feel “privileged” by owning a digital art piece. Your trust is being abusedContinue reading “Sleepminting NFTheft”

NFT M.I.A.

https://www.vice.com/en/article/pkdj79/peoples-expensive-nfts-keep-vanishing-this-is-why NFTs are generally represented by a  form of token called the ERC-721. It’s just as simple to locate this token’s whereabouts as ether (Ethereum’s in-house currency) and other tokens such as ERC-20s. The NFT marketplace SuperRare, for instance, sends tokens directly to buyers’ wallets, where their movements can be tracked rather easily. The tokenContinue reading “NFT M.I.A.”

NFTs: crypto grifters try to scam artists, again

The NFT grift works like this: Tell artists there’s a gusher of free money! They need to buy into crypto to get the gusher of free money. They become crypto advocates, and make excuses for proof-of-work and so on. A few artists really are making life-changing money from this! You probably won’t be one ofContinue reading “NFTs: crypto grifters try to scam artists, again”