a painting of the author, the description of the blog, and his URL: rickkitagawa.com/blog

NFT hype

As a creator, you bet that I’m following the NFT “controversy” about vast environmental destruction via overwhelming energy use, the ability to steal and profit off other people’s work, as well as the money laundering bit. I’m also interested in the bit about empowering artists through profit-sharing from resales, digital artists getting recognized for what they make, and access for artists in under-resourced areas.

Part of this is the nuance and comprehension and context of understanding the difference between Proof-of-Work (PoW) and Proof-of-Stake (PoS) blockchain technologies. Part of this is understanding the messiness of economic motivation, already problematic marketplaces, and people’s need to draw lines in the sand to help bolster their identity to defend their decisions. DOGECOIN TO THE MOON and all of that. 
I think this is a clarion call to make sure that you’re managing cognitive biases here (either for or against cryptocurrency and blockchain technology) as well as expanding your horizons as much as possible to get a balanced view of the costs, risks, and rewards associated with any decisions you make around NFTs and cryptocurrency in general.

You know, basically what you should be doing for most things.

PS – I also made something as part commentary, part social experiment. I’d love to know what you think: https://www.kickstarter.com/projects/monkeyandseal/nft-wooden-pins

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