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.

you are viewing a single comment's thread
view the rest of the comments

[–] Awoo@hexbear.net 9 points 2 years ago (1 children)

They saw what happened to cryptocurrency and they were not willing to pass on the next new thing called "crypto" using a similar technology. With bitcoin producing results many tens of thousands of percent in increased value it was something they were all willing to commit to.

Had cryptocurrency not happened the NFT concept simply wouldn't have drawn the interest it did.

[–] h3doublehockeysticks@hexbear.net 1 points 2 years ago (1 children)

Youre mistaking cause and effect a bit. NFTs were invented to give cryptocurrency and the blockchain a use case

[–] Awoo@hexbear.net 4 points 2 years ago

Oh I'm not. I'm just saying that they wouldn't be popular at all without the fomo that bitcoin has created. Truly just a 10k investment in bitcoin, which would be peanuts to some of these millionaires, would have resulted in billions in return. They know that and do feel like they missed out so their reaction to nfts is specifically tied too bitcoin's success (in increasing in value) itself.