Hey Crypt.
How to navigate the vagaries of the CryptoSphere?
Here's a few of the rules by which I live my life:
If it isn't extraordinary, it's shit.
Being ordinary is of little to no value to anyone. This is why the Pareto Principle is so ubiquitous in the Affairs of Man. Quick, who was the first man to run a 4-minute mile? You probably know the answer. Now, who was the second? When Roger Bannister first did it, it was extraordinary. When the next guy did it, it wasn't. Sometimes being extraordinary (beyond the ordinary) is of little or no value either but it at least gives one a fighting chance. 99% of NFT's are, and always will be, utterly worthless. The same could be said of cryptos. For Heaven's sake, they're referred to as "shitcoins" ... and that ought to be a clue.
Here's a second rule:
Don't touch shit.
Lots of people, of course, will try to convince you that their shit is not, in fact, shit. So, one needs a third rule to distinguish the former from the latter.
If anyone could have done it, it's not extraordinary ... and hence, Rules #1 & #2 apply. It's shit. Don't touch it.
Of all those profile pic NFTs you were looking at (what normal, non-crypto people would call "stupid cartoons"), which one awed you with the insight or talent required to create them? Which one required the genius of Beethoven, Shakespeare or Da Vinci? Were any of them ... extraordinary?
People dramatically underestimate the magnitude of the madness that can overtake crowds in the short-term. In the long-term, though, some version of sanity always re-asserts itself because madness is inherenty unstable and human beings, as a whole, will always seek to balance novelty with certainty. It's how we're wired and such instincts can't be overridden.
When the music stops, the vast majority of people buying shit NFTs (and shitcoins) will find themselves without a chair. And that is when the real game will begin. From then on in, artists (and blockchains) will have to earn it honestly or not at all. (I suspect we're close on both fronts.) The biggest fallacy of the CryptoSphere is that something can be had for nothing. It's the 21st Century's version of alchemy. Cryptos ARE NOT revolutionary, they're evolutionary. They seek to do better that which was done before.
But fools believe they're something more.
And ... we all know what happens to a fool and his money.
Quill
RE: NFTs & Me - NFTs Are Not Crypto!