All the crypto stuff starts making sense if you assume that most of the people involved are stupidly rich. Like an Etherium transfer takes four hours to clear and costs a random amount from $15 to $300, but if you're sending $10k+ overseas, that starts being a better deal than you would've gotten from a bank. NFTs are awful art that nobody cares about, invested in purely as a speculative asset or store of value, but you don't need to hire an expert to validate their authenticity or manage their storage conditions, and the transaction fees are competitive with what you'd get at an art auction, so they have advantages over physical art (as a purely speculative asset or store of value).
It's like the financialization of rich fucks being so rich that they're fully disconnected from physical reality.
All the crypto stuff starts making sense if you assume that most of the people involved are stupidly rich. Like an Etherium transfer takes four hours to clear and costs a random amount from $15 to $300, but if you're sending $10k+ overseas, that starts being a better deal than you would've gotten from a bank. NFTs are awful art that nobody cares about, invested in purely as a speculative asset or store of value, but you don't need to hire an expert to validate their authenticity or manage their storage conditions, and the transaction fees are competitive with what you'd get at an art auction, so they have advantages over physical art (as a purely speculative asset or store of value).
It's like the financialization of rich fucks being so rich that they're fully disconnected from physical reality.