The NFT Market is an Ecocidal Doom Machine

 

The stats in the image above are based on 6 months of NFT trades.

There is an Ecological Impact of NFTs. Apparently the trade in coded simulacra is burning up energy at alarming rates. I can't say I personally know a damn thing about how NFTs work nor how the Crypto currency system works either. I also don't know how cars work. But I don't need to know anything about combustion engines to know tail pipes spew hot steamy death.

Someone else however knows a lot about how all these things work and they did all the research and penned a very intimate look at this Digital Bubble of hot steaming death. And you can find all this highly detailed work hereon Medium: LINK

Hint: Most of the damage to the world is actually due to the Ethereum cypto currency that is required to participate in the NFT Market. Which all really sounds like some kind of scam being played on Artists by the people behind Ethereum to me.

I am however, betting this bubble will pop way before it collapses the biosphere because of one simple fact. Speculation. 

 

Bubble Markets pop when more people are trying to cash in on something VS people who just love it and want to keep it. Profit VS Pleasure. Think Beanie Babies, or Funko Pops. Both of these landfill bound brick-a-brack items spurred many a baseball card collector into thinking they would be worth big money, we all know what happened to the Beanie Baby market. Even though some people still enjoy Beanie Babies to this day.

 

The NFT Market however, is 100% Profit Speculation. No one is getting into this market for the pleasure of it. It was doomed from the start. $5,000 gif files may be the bomb hustle for a few starving artists who get a jump on this devastating scam at the start, but all the buyers are going to left holding the bag when the value of these intangible artifacts drops like a rock.

Now here is what I really hate about the NFT thing altogether, they are a digital Funko Pop. Pops, rope in average consumers who would never buy Designer Toys, in spite of some people musing that they are a gateway drug toy, which they are NOT. Your average mall dweller doesn't actually give a damn about Pops, they just like their fandoms. Most Designer Toys are not backed by a cartoon and the inevitable Cereal Boxes. So mall dwellers will never give a damn about Designer Toys, Pops or no Pops.

My point here is that NFTs, and their inevitable demise and fallout, just like Funko Pops, won't motivate the average consumer to move on to collecting real art on canvases any more than the collapse of the speculative value of Funko Pops will move collectors surrounded by little white boxes filled with worthless bobbleheads to go to DCon and start paying for $100 vinyl toys.

If anything these Flipper Markets will, in the long term, leave Artists everywhere stranded with way less long term fan base, on desert islands of plastic bottles, riddled with cancer, cursing their digital wallets.

 

Maybe I'm wrong, but the bastards in charge never change. So good luck with that.

Posted By: Cultural Ambassador Gavriel Discordia