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Crypto Is Bleeding Cash Unnecessary From People. - Science/Technology - Nairaland

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Crypto Is Bleeding Cash Unnecessary From People. by Olayoo: 8:34pm On Jan 19, 2022
I am a believer in the fact that technology can alleviate humans from our most intractable problems. This includes blockchain and it's children: cryptocurrencies, NFT( non fungible tokens) etc. One way crypto works well is the creation of artificial scarcity ( this is how bitcoin works though). This way, it creates value for its coins. But one thing that has been a turn off, has been what is going on in the supposedly future of the internet. The metaverse.
The metaverse is ment to be a place where we can achieve our deepest desires collaboratively, keeping the users in charge. But now, it looks like just a medium to unnecessary create scarcity unnecessarily. Guys, this place is virtual and very big. Why monetize virtual land that is unlimited just to create value. Its just becoming a "mirror" of the physical world. Just replicating what we do here and dumping it virtually. Physical land works that way because physically, land is finite. We can't magically recreate a land from nothing. But the virtual land is infinite. What is "come buy land again" that is the pitch deck for decentraland, sandbox and bourgeoning metaverse/ blockchain projects and companies.
I just think that our nature just forces us to look for money in everything. Post scarcity is possible virtually because we can just code what is missing. But if what is missing should be traded for cash/coins then the metaverse is becoming just a replica of the physical world (with its disgusting problems) dumped virtually.
Re: Crypto Is Bleeding Cash Unnecessary From People. by tjpique829: 2:51am On Jan 20, 2022
I agree with you here!

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