“One of the most infamous examples of a game incorporating an early form of a play-to-earn system was Diablo III’s auction house, where players could buy and sell weapons and items for real money. […] But Blizzard’s experiment in monetizing scarcity was a disaster.”
“As of Feb. 8 roughly 55% of Bitcoin investors were underwater, according to cryptocurrency investment firm 21Shares. That’s actually an improvement from several weeks ago, when Bitcoin was trading about $35,000. At that time, more than two out of every three Bitcoin investors were in the red.”
Crypto Critics’ Corner constantly has conversations about crypto so smart and technical and well-informed, I can barely keep up, and it’s an absolute pleasure to listen to. Recently a guest went “the value of Bitcoin is usually given in US$, but we should give it in Tether” and I was all…listen, I could not possibly have connected those dots myself, but know juuuust enough to grasp why it’s a Big Deal. I’m hanging on by my fingertips and it’s great.
“[NFT sales data] do not show the democratization of wealth thanks to a technological revolution. They show an acutely minuscule number of artists making a vast amount of wealth off a small number of sales while the majority of artists are being sold a dream of immense profit that is horrifically exaggerated. Hiding this information is manipulative, predatory, and harmful, and these NFT sites have a responsibility to surface all this information transparently. Not a single one has.”
“I have been exploring Active Worlds for several days. It is a sort of internet archaeologist heaven, where player-created structures stretch out for what can seem like hundreds of virtual miles. There are many worlds to explore — all of which are anything but active — but this main one, AW, has been running since the mid 90s.” So we’ve had what they’re calling “the ~metaverse~” for almost 30 years now.
“He told the press how the problems of banking the unbanked were technical — that banks were unable to move money fast enough without a blockchain. This is completely backwards. Banks know how to move numbers between computers. The slow part is settlement and compliance — making sure that everything is done in order, and making sure that banks, and money transmitters in general, are solvent, honest and not fronting for drug runners.”
There’s been an absolute deluge of Blockchain Space Nonsense news in the past couple of weeks. If you, like me, can’t get enough of it, Web 3 Is Going Just Great is a great source to quench your thirst.
But if not — indulge me for a minute while I sift out some highlights, at least?
Everyone and their dog has been sharing this video, but I’ll share it again. It’s good. Not just about NFTs, it covers all kinds of Hot Topics in crypto discourse right now.
I started watching it thinking “I’ve rubbernecked SO MANY terrible details about these already, more than enough to fill a multi-hour video, there’s no way it’ll also have new-to-me info that makes them worse.” Spoiler alert: it had new-to-me info that makes them worse.
So a group called “SpiceDAO” pooled a bunch of money in order to buy a rare copy of Jodorosky’s Dune — basically, a long pitch for this guy’s proposed adaptation of Dune. They paid ten times the estimated value at auction, apparently totally convinced that “buying a book” and “buying the adaptation rights” were the same thing.
(A DAO is like a co-op, but to join or vote on anything, you need to buy into the org’s crypto token. These folks also seem to believe “we’re voting on a blockchain!” bypasses any requirements for laws, rules, obligations, paperwork, or, like…basic planning.)
The first half of this Twitch stream has a great time exploring the legal faceplants, but if that doesn’t sound delightful by itself, skip to about 50 minutes in. See, when the DAO was thwarted in their plans to adapt Dune, they commissioned a derivative-but-legally-not-Dune script to film instead. The stream does a Dramatic Reading. Of the whole thing.
I don’t remember the last time I laughed this hard.
Twitter announced a new “connect your account to an NFT and we’ll make a Special Exclusive hexagon-shaped profile picture out of it” feature. People immediately started dunking on it by uploading pfp images that they cropped into hexagon shape on their own, for free. Here’s made a transparent template to help you nail the exact right type of hexagon, indistinguishable from the Special Exclusive ones.
(…at least, unless you zoom way, way in. Then you might realize it displays as 2 pixels shorter. Shhh.)
Not in a public news post or anything, that’s just what Support is telling people who email with questions. (This isn’t the fault of individual Support staffers — they haven’t been given any info either. Kiiiinda seems like the Board is happy to use their staff as human shields, here.)
But, good news:
TopatoCo — which I have been pronouncing wrong all this time, it rhymes with “potato” — launched a beta-testing project for their own crowdfunding system. They’ve been a reliable player in the “fulfillment of webcomic merchandise” field for years; they have the credibility to start a crowdfunding platform from scratch and get the comics community on board.