The most obvious stupid scam ever conceived and they actually managed to hook a bunch of actual corporations
Square Enix, Nickelodeon, Coke, KFC, and more fell for this shit while regular people were laughing about how obvious a con it was.
Really puts into question the capitalist myth of the genius entrepreneur and the idea that these corporate types are rich because they are smart or deserving in some way.
funny thing about the bourgeoisie. All through the 1800s most bourgeois economists were convinced that labor is the source of value in commodities. After all, that is what Adam Smith and David Ricardo thought. Then Marx comes along and takes that fact to its logical conclusion (while adding nuance that it was labor power and not labor, but I digress): Proletarian revolution and the overthrow of the bourgeoisie and the abolition of wage labor and the capitalist mode of production. The construction of socialism. So from that point onwards Capitalists began increasingly inventing and embracing subjective (i.e. useless, non-materialist, non-predictive) theories of value, in order to distance "mainstream" economics from Marxist conclusions. This, coupled with the creation of fictitious capital, leads to them huffing their own farts more often than not, especially during recurring economic crises. Hence, nonsense like NFTs.
oh TIL, guess I should have read A Hacker Manifesto. https://metacpc.org/en/mckenzie-wark/ post-marxist tech thought
dunno if there's anyone calling themselves a vectoralist though
i just wish that new technology that came out was cool and good and made our lives better. When I was a kid all the phones went from landlines with boingy cords to wireless! The internet went from annoying dial-up noises that turned off the phone to so fast you could watch a movie faster than you could download a song just 5 years prior. Cars started coming with the unlocking button fob! THE BUTTON YOU PRESS TO UNLOCK YOUR CAR! it was so cool! Now all the technology sucks man. When's the last time some little cool gizmo came out that made our lives better?
recuperation turns radical new things into status quo super-glue as fast as possible
I was learning 3D art and videogame design when NFTs became popular, I uploaded some renders I made for fun as art proyects to a NFT site, some idiot bought it for 1ETH, around 1000€, LOL
it was a money laundering scheme, just a techbro "innovation" that perfectly copied the role the fine art market plays in haute bourgeois society
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No need to use the past tense here. I have a friend who is still slinging NFTs. I haven’t talked with him in years but I stalk him every now and then to check in on him. He invested in bitcoin early on and then dumped it before the pandemic. If he’d held on to it (and then dumped it at just the right time), he’d be a billionaire now. So I think he’s reluctant to let go of NFTs. His big break is just around the corner. And he’s also a millionaire and his parents are hedge fund managers so he wins either way, at least until the revolution comes.
Everything is like this.
Sucking up, lying, putting on a show, and being merciless is the biggest part of how anyone attains a managerial position.
It's not a bug, it's a feature.
This is one of those moments where you realize these companies aren't jumping on these trends things for us, but they're doing it to placate an investor class that doesn't know any better and wants them to be into the new, hot thing among these twitter brained friends.
yeah I think the execs in these companies saw that people in their rich social circles were messing around with crypto and thought that meant everyone else is doing it and it's the next big thing, for an industry that markets itself as innovative there's a lot of herd mentality in tech
Square Enix selling the rights to Deus Ex and Tomb Raider so they could leverage more capital for crypto investment will never not be funny to me.
I know we haven't seen anything material manifest yet but: stupid as crypto and NFTs are I maintain this is probably the best thing that could have happened snice Square Enix was probably just gonna sit on the IP and produce shitty mobile titles or something for the next decade anyway. Now....we might actually got something worth checking out.
There's been murmurs of a new Deus Ex title "very very early" in development. Here's hoping something happens and there aren't any dogshit one-time-use microtransactions this time around.
This happens all the time among the MBA crowd. They are afraid of not doing something they think everyone else is doing, even if they don't understand it. The head of my group at work has been talking about AI for months while all of the use cases for it have basically nothing to do with our work outside of writing emails. He did this before with crypto and we have a whole product offering that is useless now because the whole rypto market sublimated overnight.
the funniest thing about nft's is the one nft guy i convinced ghosts are real because of the metaverse
people who buy into nfts will believe literally anything
that's basically the story we were talking about ghosts and eventually he decided because "everything you can conceive of is real" ghosts are real in the metaverse. I then attempted to explain to him what reality is
Did any real company lose money on it? It was free income for the IP holders.
I feel like square has to lose money on it, they're still dumping money into nft games and haven't released anything yet while it's shown to be wildly unpopular among what has released.
Feel like game stop using their meme stock money to build out an nft marketplace should have bit them way harder in the ass by now too.
But Elon, shouldn't you be hoppping on this train now with~~ Twitter~~ X?
It's funny "ha-ha" but also funny "damn this sucks dude".
Square Enix, Nickelodeon, Coke, KFC, and more fell for this shit while regular people were laughing about how obvious a con it was.
That's one of the big things I think the NFT craze highlighted. When the suits at MEGACORPS saw a potential way to make money off intellectual property they jumped at it. IP law is really bad, and IP financialization is even worse. They thought they saw a whole new way to create new sort of "premium" product and they all went feral like they were consumed Spirit of Greed from Weird West. They really believe they could make a gazillion dollar from nothing, they either truly thought that or convinced themselves that they did.
Really puts into question the capitalist myth of the genius entrepreneur and the idea that these corporate types are rich because they are smart or deserving in some way.
Big time! It also really highlighted how everyone is despite to get out of the capitalist trap. I really felt kinda bad for regular people who got duped into NFTs and crypto as a whole. I'm not trying to say they are dumb people or have no agency, just saying lots of regular people lost their hard earned cash cause they bet on NFTs and crypto being "the future". Lots of regular people lost cash on the Robinhoods, the Coinbases, and the crypto dotcoms of the world. All of the "smart" "business people" were telling you NFTs and crypto was the future. Just yet another vampire scheme to siphon the lifeforce from working people =,
“ You're claiming that the answer to capitalism is more capitalism” I read this in the Christopher walken more cow bell tone and I just thought I should share. I got a fever and the only prescription is more capitalism
also you can invest in companies and genuinly own a portion of them on the regular financial system that's what capitalism is
The problem being that the poor can't afford to lose that gamble and they lack the connections or insider information to make better informed bets
well that makes no sense if it's the same amount of money being bet
I'm confused. The rich and poor can bet 50k on a company? Surely you see the difference between losing 50k making 50k a year and losing 50k as a multimillionaire.
yes but if you can't afford to loose 50K on the stock market you can't afford to loose 50K on crypto
crypto currency does nothing to deal with the issue of whether or not you can afford to gamble money on it
People have bills man
1,000,000- 50,000= 950,000
50k-50k= 0
Who can afford food after that?
Affording something is just about having the cash on hand to buy it. If you can't deal with the consequences of the loss you're not really affording it no?
Even with less extreme numbers the point still stands. You're misrepresenting and or misunderstanding UlyssesT.
No that's simply not my point the actual sum we're talking about isn't the important point.
The point is that if you cannot afford to loose $x on the stock market then you cannot afford to loose $x on crypto because they are both gambling and so that legitimate criticism of the stock market is not an advantage of crypto
I have been saying afford to loose rather than afford to spend this whole time
No one is saying it's an advantage of crypto???
Where are you getting that? Who said it was?
"But the crypto peddler said this new casino is different and better because the internet and the future and jargon words and revolutionize the world "
This means it's the same old shit with a fresh coat of paint not that look at how evil crypto is compared to the stock market. No one has claimed or likely is going to claim on Hexbear that the stock market or crypto is a fair, reliable, and balanced way to make money.(for us poors anyway) I don't know why you're showing up being pedantic but also completely wrong about your pedantry. No one is making that point.
You're actually seriously pulling the "internet was new once" card
so was the south sea bubble
My favorite retort to that one is "They laughed at the Wright brothers, but they also laughed at Bozo the Clown".
Or for this example, yeah, the internet was new at one point. The Juicero was also new at one point.
SBF convinced venture capitalists at sequoia to invest in FTX while playing WoW.
I'm just saying would you give billions of dollars to someone getting absolutely bodied in a league of legends game at the business meeting
