The most obvious stupid scam ever conceived and they actually managed to hook a bunch of actual corporations
Square Enix, Nickelodeon, Coke, KFC, and more fell for this shit while regular people were laughing about how obvious a con it was.
Really puts into question the capitalist myth of the genius entrepreneur and the idea that these corporate types are rich because they are smart or deserving in some way.
Square Enix selling the rights to Deus Ex and Tomb Raider so they could leverage more capital for crypto investment will never not be funny to me.
I know we haven’t seen anything material manifest yet but: stupid as crypto and NFTs are I maintain this is probably the best thing that could have happened snice Square Enix was probably just gonna sit on the IP and produce shitty mobile titles or something for the next decade anyway. Now…we might actually got something worth checking out.
There’s been murmurs of a new Deus Ex title “very very early” in development. Here’s hoping something happens and there aren’t any dogshit one-time-use microtransactions this time around.
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They saw what happened to cryptocurrency and they were not willing to pass on the next new thing called “crypto” using a similar technology. With bitcoin producing results many tens of thousands of percent in increased value it was something they were all willing to commit to.
Had cryptocurrency not happened the NFT concept simply wouldn’t have drawn the interest it did.
Anyone who wants to make their money back, I can sell you some cryptonight. It’s based on DLT and lets you exclusively own some night time. If my sources are right, it’s about to take off big. Especially if you’re in the northern hemisphere—if you buy now, you can sell it to Australians straight after for more than you paid because their nights are getting shorter while yours are getting longer. You don’t want to miss out, do you?
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Oh I’m not. I’m just saying that they wouldn’t be popular at all without the fomo that bitcoin has created. Truly just a 10k investment in bitcoin, which would be peanuts to some of these millionaires, would have resulted in billions in return. They know that and do feel like they missed out so their reaction to nfts is specifically tied too bitcoin’s success (in increasing in value) itself.
funny thing about the bourgeoisie. All through the 1800s most bourgeois economists were convinced that labor is the source of value in commodities. After all, that is what Adam Smith and David Ricardo thought. Then Marx comes along and takes that fact to its logical conclusion (while adding nuance that it was labor power and not labor, but I digress): Proletarian revolution and the overthrow of the bourgeoisie and the abolition of wage labor and the capitalist mode of production. The construction of socialism. So from that point onwards Capitalists began increasingly inventing and embracing subjective (i.e. useless, non-materialist, non-predictive) theories of value, in order to distance “mainstream” economics from Marxist conclusions. This, coupled with the creation of fictitious capital, leads to them huffing their own farts more often than not, especially during recurring economic crises. Hence, nonsense like NFTs.
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oh TIL, guess I should have read A Hacker Manifesto. https://metacpc.org/en/mckenzie-wark/ post-marxist tech thought
dunno if there’s anyone calling themselves a vectoralist though
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i just wish that new technology that came out was cool and good and made our lives better. When I was a kid all the phones went from landlines with boingy cords to wireless! The internet went from annoying dial-up noises that turned off the phone to so fast you could watch a movie faster than you could download a song just 5 years prior. Cars started coming with the unlocking button fob! THE BUTTON YOU PRESS TO UNLOCK YOUR CAR! it was so cool! Now all the technology sucks man. When’s the last time some little cool gizmo came out that made our lives better?
I was learning 3D art and videogame design when NFTs became popular, I uploaded some renders I made for fun as art proyects to a NFT site, some idiot bought it for 1ETH, around 1000€, LOL
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Lmao it’s all good, capitalism is gonna capital
Lol, lmao.
That was me.
I am proud.
Thank you for your service.
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I am nothing if not a tankie redfash dictator tyrant
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It’s not that they didn’t know… It’s well…
There was a time when Russia had an Occultic Research Department, and America got one. Did anyone actually believe in Magick? Did anyone wanna take the chance to be the guy who laughed at magick only to see America brought to its knees by something “Close enough” to psychic spies? Well that situation, no matter how unlikely would be worth a demotion.
Eventually it became a contest to see which nation could get the other to overspend their budgets on healing crystals.
Allegedly the CIA got some real psychic shit involved with project Star Gate, but… ehh… can anyone other than the CIA get magick to work? No, so…
My point is, it’s not that they thought NFTs were this goldmine. They were worried about being left outside the gate if the hype paid off.
Ya gotta remember, these people do not know market trends, they do not know computers. They know “My great grandkid talks about this Video Game thing, maybe we should do a Nintendo? get Atari on the phone!”
No need to use the past tense here. I have a friend who is still slinging NFTs. I haven’t talked with him in years but I stalk him every now and then to check in on him. He invested in bitcoin early on and then dumped it before the pandemic. If he’d held on to it (and then dumped it at just the right time), he’d be a billionaire now. So I think he’s reluctant to let go of NFTs. His big break is just around the corner. And he’s also a millionaire and his parents are hedge fund managers so he wins either way, at least until the revolution comes.
I sometimes think that FOMO in the tech world is a real fear that keeps these tech execs up at night. Even if it was obvious dumb bullshit I think a lot of these guys have seen so many tech empires rise and fall so rapidly to the point they’re barely even remembered and I think there’s a fear that they could be the next short sighted dummy who writes off the new technology as a fad and completely misses out on the next game changer.
What’s just as funny as that they’re now falling for the AI scam
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They do love their short-term wins that bite them in the ass long-term.
This is one of those moments where you realize these companies aren’t jumping on these trends things for us, but they’re doing it to placate an investor class that doesn’t know any better and wants them to be into the new, hot thing among these twitter brained friends.
yeah I think the execs in these companies saw that people in their rich social circles were messing around with crypto and thought that meant everyone else is doing it and it’s the next big thing, for an industry that markets itself as innovative there’s a lot of herd mentality in tech
the funniest thing about nft’s is the one nft guy i convinced ghosts are real because of the metaverse
people who buy into nfts will believe literally anything
TELL US MORE
that’s basically the story we were talking about ghosts and eventually he decided because “everything you can conceive of is real” ghosts are real in the metaverse. I then attempted to explain to him what reality is
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Do you take commissions?
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That’s just a plotline in Digimon: CyberSleuth.
This happens all the time among the MBA crowd. They are afraid of not doing something they think everyone else is doing, even if they don’t understand it. The head of my group at work has been talking about AI for months while all of the use cases for it have basically nothing to do with our work outside of writing emails. He did this before with crypto and we have a whole product offering that is useless now because the whole rypto market sublimated overnight.
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Really puts into question the capitalist myth of the genius entrepreneur and the idea that these corporate types are rich because they are smart or deserving in some way.
More than that, it calls into question the very concept of economic rationality - that the market behaves rationally based on the rational business decisions of rational actors acting in their own rational self interests.
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