[cors-fls]

When you read this with the classical crypto-skeptic arguments in mind, it's hard not to "cringe". How can "Rare Pepes" and "Crypto-kitties" be the reason you invest in a teghnology ? And yet those investments must have been highly profitable.

I am still a crypto-skeptic but I wonder if in the future my tendency to over-analyze (based on intuition and generalist tech knowledge) will make me overlook a truly revolutionary innovation.

Am I wrong about crypto ? Will the metaverse be this tech I overlooked ?

Maybe this article is right and I should keep it simple. Trust the hype and stop worrying ?

[thenaturalist]

I totally agree with your assessment of cringe. To me this article elegantly condenses the bias-ridden, ego-inflated and hindsight-smarts that is venture capital. Don't get me wrong, there is some accurate analysis in this piece and the decisions, undoubtedly, but at the end of the day, it's mostly hot air.

> When I saw Rare Pepes, I was struck with the idea of making unique, rare, and scarce digital goods.

Seriously? In this day and age, is this seriously what the world needs? In any real capacity? To me this is bizarre.

And what does it prove?

The analysis might be right in the sense that it's the same dynamic at play like during the Dutch tulip craze: People irrationally desire scarce items for - vanity - social status.

But reading this presented so dominantly as a supposed display of intelligence has me serious doubting how much we progressed as a human species in 300 years. Why is investing money and blogging like this seen as a desirable outcome by people with a highly developed capacity for reasoning?

[lancesells]

I think the hype is real because the ones with money and resources will make it real. I'll stick with my preference of Web 1.5 but I'm certain this will/is happening.