The problem with NFTs is that the "non" is a lie
Everyone - including their creators - treats them as completely fungible. They give no benefits or even accounting for rarity when new drops come out
A few examples of this:
- mutant ape airdrop: all BAYC received identical allos
- apecoin airdrop: all mutants received identical allos
- friendship bracelets airdrop: all artblocks received identical allos
- degodcoin conversion: all y00ts received identical allos
There are deeper issues, such as offchain metadata that makes any smart contract rarity composability a nightmare to work with. But even setting aside poor tech decisions, at a purely cultural level even NFT creators treat these things as purely fungible
Many blame Blur for this when in fact Blur was simply a response to how creators were already treating their communities. So it should be no surprise when communities take the message and decide to go for the purely fungible stuff, aka memecoins, instead
Everyone - including their creators - treats them as completely fungible. They give no benefits or even accounting for rarity when new drops come out
A few examples of this:
- mutant ape airdrop: all BAYC received identical allos
- apecoin airdrop: all mutants received identical allos
- friendship bracelets airdrop: all artblocks received identical allos
- degodcoin conversion: all y00ts received identical allos
There are deeper issues, such as offchain metadata that makes any smart contract rarity composability a nightmare to work with. But even setting aside poor tech decisions, at a purely cultural level even NFT creators treat these things as purely fungible
Many blame Blur for this when in fact Blur was simply a response to how creators were already treating their communities. So it should be no surprise when communities take the message and decide to go for the purely fungible stuff, aka memecoins, instead
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