Showing posts with label web3. Show all posts
Showing posts with label web3. Show all posts

Friday, May 6, 2022

What Is Happening to the People Falling for Crypto and NFTs; The New York Times, May 5, 2020

Farhad Manjoo, The New York Times; What Is Happening to the People Falling for Crypto and NFTs

"In the past year Yuga Labs, the well-funded start-up that makes Bored Apes, has embarked on a parade of new and even farther-out digital spinoffs of its simians. Its latest ventures have highlighted the head-scratching, money-burning, broken-casino vibe of what’s being called the internet’s next big thing. Cryptocurrencies, blockchains, NFTs and the constellation of hyped-up technologies known as “web3” have been celebrated as a way to liberate the internet from the tech giants who control it now. Instead what’s happening with Bored Apes suggests they’re doing the opposite: polluting the digital world in a thick haze of errors, swindles and expensive, largely unregulated financial speculation that ruins whatever scrap of trust still remains online...

But how many people have to lose their shirts before we realize that web3 isn’t a solution to any of our problems?"