Thursday, 6th January 2022
Crypto creates a massively multiplayer online game where the game is "currency speculation", and it's very realistic because it really is money, at least if enough people get involved. [...] NFTs add another layer to the game. Instead of just currency speculation, you're now simulating art speculation too! The fact that you don't actually own the art and the fact that the art is randomly generated cartoon images of monkeys is entirely beside the point: the point is the speculation, and winning the game by making money. This is, again, a lot of fun to some people, and in addition to the piles of money they also in some very limited sense own a picture of a cartoon monkey that some people recognize as being very expensive, so they can brag without having to actually post screenshots of their bank balance, which nobody believed anyway.