Efficiency and effectiveness meet head-on in speculative value.
I recently changed my homepage from Blot (which I love and recommend) to Tumblr. I realized that Automatic bought Tumblr from Verizon (I lost track of this fact), and I am generally reminiscent for design and aesthetics. As I was downloading themes and tweaking CSS, it occurred to me that I find blogging more interesting than NFTs, which I had to pause on and reflect on.
The following are living thoughts, which are bound to change.
NFTs reinforce existing value models by introducing brute-force scarcity. Yes, they empower creators, but they do not change value definitions. If you mint an NFT today, you are betting on its speculative value. Again, no different than any other artist looking for patrons. But the diversification of activities performed by artists today is at the center of the efficiency to effectiveness question. I once wrote that in abundance, all we have is art. I will add that art needs to be helpful. And speculative value loosens its usefulness.
Another way of going about this is being able to describe your value.
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