2021-03-07T17:51:24+01:00

Mar 7, 2021 · 1 min read
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Some more interesting articles and quotes critical of the newly popular non-fungible tokens (NFT):

In a blog post on medium user everest pipkin claims that the “current ecological cost of cryptoart and cryptocurrency is very real and very large, and while steps can be taken to reign in some of that energy cost, the crypto- market is still based in a value system that fundamentally ties worth to spent physical resources.”

Author Seth Godin furthermore warns that NFTS are “a dangerous trap”:

The more time and passion that creators devote to chasing the NFT, the more time they’ll spend trying to create the appearance of scarcity and hustling people to believe that the tokens will go up in value. They’ll become promoters of digital tokens more than they are creators. Because that’s the only reason that someone is likely to buy one–like a stock, they hope it will go up in value. Unlike some stocks, it doesn’t pay dividends or come with any other rights. And unlike actual works of art, NFTs aren’t usually aesthetically beautiful on their own, they simply represent something that is.

Crypto Digital Cultures Cultural Criticism
Wouter Van Rossem
Authors
Wouter Van Rossem
Wouter Van Rossem is a researcher on the intersection between social science and computer science. He previously worked on the European Research Council (ERC) funded project, Processing Citizenship, where he investigated how data infrastructures for population processing co-produce citizens, Europe, and territory. He completed his PhD at the University of Twente in the Netherlands and is still working on publications stemming from these impactful projects. In addition to his academic pursuits as a PhD at the University of Twente in the Netherlands, he brings a diverse background as a software engineer, having worked in various companies and at the European Commission’s Joint Research Centre in Italy. His diverse background, spanning both theoretical and hands-on knowledge, reflects his keen interest in exploring the intricate interconnections between technology and society.