My mom sent me that comic after I landed my first full-time graphic design gig at a company that mostly did work for the video game industry.
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Get some friends together for a party and roll the dice to see who gets the pizza while the others sing Roxanne by the Police.
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I had the opposite. I thought I understood NFTs and how they worked and why they were dumb. Then I learned more and found out they were much worse than I imagined.
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I wonder this all the time. Where are all these people coming from? How can this nonsense possibly have enough people to keep it rolling? Who the fuck has enough money in 2022 that they can waste it on this?
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As near as I can tell these play to earn “games” are basically 100% grinding for more loot and the more loot you have access to the more efficiently you can grind for the landlord that “rents” you the loot to grind the loot. Basically they have managed to turn the “digital proof of work” that underlies cryptocurrencies into a “human proof of work” accomplished by people endlessly grinding for no purpose except to funnel money up a pyramid and call it revolutionary. It’s really sickening.
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I’m glad I’m not a hardcore gamer. If I was I’d have to miss out on a generation of new games because of this rotten, pay-for-play, and now apparently rentier- infested NFT market.
Also, “scholarships”? Gross on so many levels.
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" fucking pixelated cartoon profile pics that trade for 6 or 7 digits —"
Its just laundering. There was a CS:GO money ring a few years ago allowing skinned weapons to go for gazillions unmonitored. I’m unhappy but not surprised.
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Generally speaking. Money laundering
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Collectibles are a favourite of launderers, especially if they’re traded in an unregulated or poorly regulated market of the sort that neoliberals extol.
Over a decade ago someone explained to me how a drug gang was partnering with a sports memorabilia company to launder through eBay auctions. The company would post an item with a ridiculously low starting bid (establishing itself as having the “best” prices in the market) knowing that the drug dealer would come in at the very end to snipe with an offer significantly over the legit market rate. It took years for eBay and PayPal to ban them from the site, no doubt because they were also profiting off of the laundering.
A lot of laundering also goes on in bonded warehouses as high-end fine art is traded back and forth.
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Meanwhile, crypto squatters are having all the fun.
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Read this quickly and maybe-sorta understood half of it. As far as I’m concerned, anyone putting money into this nonsense gets what they deserve.
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That’s OK: when you do understand it, it turns out to be so much worse.
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Worth repeating
“Anyone who’s interested in investing in NFTs, I offer you this time-saving option:
1). Withdraw your life savings from your bank accounts in cash, and provide me with your home address
2). I’ll take the cash and kick you in the nuts
The end result for you is the same as if you invested in NFTs - but I get cash, and you can recognize your mistake immediately!"
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That’s an awful lot of words to say “Money Laundering”
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It certainly is. I’ve been using this quite broadly - thanks for sharing.
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