NFT problems and a solution — 🧵 There are 3 problems.

1 macro

The Blacklist and McCarthyism in Hollywood 1947-1954. A story that I’m not sure has ever been adequately captured on film. How did it come to pass? How did it end? 🧵 In 1947, the House Un-American Activities Committee goes after communists in Hollywood. They call the “Hollywood Ten” to testify. This is pre McCarthy. When asked whether they were communists, the witnesses generally decline to answer.

Fraud is illegal by statute and common law. The DOJ and state ag’s can pursue criminal and civil fraud cases. Private citizens have a right of action. The SEC was not created to police fraud in general. It exists to regulate securities only. #ripple #libry #howey 2 Let’s say we were starting an açaí farm, Hi Açaí.

We also set up a global açaí wholesale açaí marketplace with its own ERC20 token — the Juice.

1/Some NFTs are hoping for luck to build their brand or in any case have an unclear strategy. In general I’m a decentralization maxi, but in building brands I’m concluding you need a core leadership and a plan.

Thoughts on building media and NFT brands 2/Note: this is about character driven NFT collections (not music, game or real estate NFTs).

1/ Web3/Decentralization will improve Hollywood.

⬇️ 2/ IMO the best recent TV and film has come from people and teams operating outside the Hollywood development system eg Parasite, Squid, Atlanta, Arcane, Curb, Super Deluxe, Jojo, French Dispatch. I’m sure I’m missing a couple.