You don’t should be irate about NFTs – Cointelegraph Magazine

Cointelegraph Magazine

NFTs are faulted for everything from crude craftsmanship to financial disparity and ecological obliteration. Yet, the contentions by pundits don‘t add up, writes Something Interesting‘s Knifefight.

“For every minute you are angry, you lose sixty seconds of happiness.”

— Ralph Waldo Emerson

Toward the end of January, one of my favorite content producers on the internet Dan Olson (aka Folding Ideas) published a video titled Line Goes Up — The Problem with NFTs outlining his complaints about nonfungible tokens, or NFTs. At the time of writing, Line Goes Up has accumulated over six million views — almost twice as many views as his next most successful video. That’s an amazing reach for a 2.5 hour narrative with very little showcasing behind it.

In the film, Olson spreads out the accompanying argument:

Cryptocurrency is futile but to offer to a more noteworthy fool.NFTs, DAOs and play-to-procure games are only ways of observing more fools.The fools who purchase in become assistants in advertising the scam.NFTs are appalling, unified, silly, exploit craftsmen and harm the environment.

To be straightforward, the film bums me out. It isn’t on the grounds that Olson doesn’t like NFTs – it is entirely sensible not to like NFTs. It bums me out on the grounds that one of my cherished things about the Folding Ideas standard was how much compassion he brought to past subjects. Consider how hard Olson attempted to refine level earthers or 50 Shades of Gray. Conversely, Olson depicts NFTs as “incomprehensibly tasteless” and digital money aficionados as “terrible people” with “poor judgment” and “low social literacy.” He calls Ethereum organizer Vitalik Buterin a “butthurt warlock.” He sums up the whole space as “Amway but with ugly ass ape cartoons.”

In short, NFTs drive Olson mad. He isn’t alone.

 

 

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