"Reddit is looking to launch its own marketplace for non-fungible tokens, according to a job listing posted on Friday.
The social-media site is recruiting a senior engineer who will be tasked with designing, building, and shipping "backend services for millions of users to create, buy, sell and use NFT-backed digital goods."
™:reddit-logo:
:stop-posting-amogus:
I’m either observing tulip mania on global scale or I have completely detached from perceived reality.
The fuck is digital good, how can digital be backed by digital :picard-direct-action:
A tulip NFT referencing that would be a neat piece of art. Satirizing it's own medium. There's gotta be somebody galaxy brained enough that you could scam a couple bucks off 'em with that.
https://www.businessinsider.com/nft-crypto-dutch-tulip-bubble-bitcoin-meme-stocks-gme-amc-2021-08?amp
The collection of 50 NFTs, launched on Monday, are an explicit tribute to the 16th-century Dutch mania that saw multicolor tulip bulbs sold for massively inflated prices before crashing. At the peak of the bubble, one tulip bulb sold for 20 times the yearly income of a skilled worker, according to the BBC.
The collection — pitching itself as paying "homage to the investors who risked it all to make a fortune" — sold out on NFT marketplace OpenSea within hours, according to the artist.
One NFT in the collection sold for as high as 17.5 ether, worth about $55,785 at Wednesday prices.
:yea:
Someone here could get this rich selling this emote when reddit NFT store opens. :cheeto-man: This is how the cool kids show their resistance now
I think a lot of us are so depressed because we are afraid nothing will happen and that we will be wrong about the status quo, and capitalism, and class society, and its internal contradictions. But you know what? I'm hopeful. I believe that all this speculative bubble NFT/cryptocurrency futures/insanity is a symptom of serious decay. And that there can't be anything BUT a festering abscess beneath it all. And I don't know if we'll be able to appreciate it when it all explodes because we'll probably be in the fucking bread line, but maybe we'll all have a nice big laugh at the absurdity of it all and that bread will taste fucking great. Idk.
- funneling of petty-bourgeois capital into risky investments and society-wide scams (NFTs, bitcoin, whatever)
- frenzy of commodity consumption
- wages increasing
- idle capital all over society that cannot be valorized
- relative surplus-value hitting a minimum
yeap , crisis is coming, so fucking obvious, they better ship out capital to India or something, otherwise the US is in trouble, ironically the only way out is for the us to loose the determinant role in a global scale
News are telegraphing a crisis bretty hard right now, like unbelievably hard, like textbook word for word stuff in capital vol 3
We are rapidly converting our economy into the production negative-value-add activities such as advertisement, addiction optimization, financial products with impossible-to-detangle risk profiles, and monetized political outrage 📈
I just it all to stop, it’s all so fucking shit
It won’t ever stop though, people are going to be hodling crypto forever, no matter what the line does
You don't need crypto for digital goods when your platform is centralized. Just charge money for the jpeg and leave the blockchain out of it.
Remember when we would just pirate everything and nowadays a lot of zoomers have this moral panic about it? Later generations will probably have the same thing with saving a picture they don't own the NFT off. :cringe:
Wait is piracy really getting less popular with young people? Ahahaha what a bunch of cucks
I will teach the kids the ways of being gay and doing crimes. I expect you to do the same comrade :fidel-salute:
The kids are gay, but they aren't doing enough crimes. We need to teach them how to pirate MP3s and cause trillions in "lost revenue".
So reddit's plan is to commit ritual suicide on the altar of investors via combining an NFT launch with its IPO as hype builder and going all-in on scamming its newly exploded WSB crowd.
The entire site will rapidly implode after they pump and dump the stock followed by massive monetisation changes that send the userbase desperately searching for alternatives.
It couldn't be any other way. Evolutionary fitness in capitalism is defined by next quarter's earnings, and they'll devour themselves in a red queen's race to increase their rate of profit.
Can we get some Lazy Lion emojis for Hexbear? I'm so close to jokerfication and I know that would put me over the edge.
