Matt Levine, giving you one way to think about NFTs in the Me elsewhere/NFT Stuff section of his December 20 column:
‘Meanwhile there is another strand of thinking that is like “human life takes place increasingly online, and whereas people used to get meaning out of being seen promenading in the plaza in fancy clothes, now they get meaning out of being seen promenading on Twitter with fancy Bored Ape avatars, and we are finding ways to create artificial scarcity and gradations of status there and sell those gradations for a lot of money.” And here, I mean, I see the point of “human life takes place increasingly online,” but I do not really see the point “so I have spent $20,000 on a pixelated JPEG of an ape to use as my Twitter avatar because people will think that’s cool.” It’s possible that I am just not cool, though! In 10 years maybe everyone will spend thousands of dollars on their avatars and only crusty weird nerds will be like, “No, I will just wear a burlap sack to promenade in the plaza, it keeps the wind out, that’s all I need.”’
I love his sense of humor. He goes on to say:
“…these relatively sophisticated ways of thinking about NFTs reflect of course a tiny minority of NFT projects. Most are just “let me scam some crypto bros who have too much money.” I would not buy those.”