Are NFTs an asset? I don't believe so.


Eagle, CO

Last updated on Jan 19, 2022

Posted on Jan 19, 2022


In a Discord I'm in someone adamantly referred to NFTs as an "asset". I think doing so is a mistake. Super said the same in one of his videos.

Because if NFTs are thought of as assets it then frames the entire discussion in terms of profit and loss - win or lose.

One of the big problems in the NFT space right now is that on balance, NFT buyers do think of NFTs as assets.

This is because they read about NFTs on Twitter, which is designed for group think, censorship, and manipulation.

After I posted this someone sent this video. It's fantastic. Brilliant. It shows where we are right now, which isn't at all healthy. I've also added two more.

I've been writing since circa 2005 that social media is a social disease. It's only got worse, not better. It's why the NFT market is so out of balance, so not healthy. Unless we the people do an about face, it'll get unimaginably worse.

Except for apes, I bought NFTs because I believe in Satoshi’s vision. I wanted to allocate capital to a future children are happy in. And because I enjoyed the art. I had no expectation of making ETH. I spent ETH I could afford to lose.

If asked, this would my advice to anyone.

So no, I don’t believe NFTs should be thought of as assets. Because that then begets win or lose, which isn’t what NFTs are about.

At their core, NFTs represent systemic change. Therefore I believe they should be thought of as a tech that’s the first step towards changing a system that favors those at the top and discriminates against just about everyone else.

If the message of NFTs can pivot from selfishness to selflessness, if buyers can focus their reasons for buying on the next 7 generations, I believe the market will heal itself. Everyone will be better off.

If not I’m deeply concerned.

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