1/8 Facebook announced today they’re changing their name and going all in on the metaverse.
Why?
Because they have no choice.
The achilles heel of FB is that it revolves around the social signalling model dreamed up by a college freshman, one which NFT just made obsolete 🧵:
2/8 There are two types of social signals: conventional and assessment.
The difference is that the former can be faked, but not the latter.
Oct 19, 2021 • 11 tweets • 3 min read
1/11 Every year lots of people make money. And lots change the culture.
Very few do both.
This is why the high-end art market exists, to facilitate the exchange between financial and cultural capital.
If you understand this, you understand how NFT can take over the world 👇:
2/11 The founders of Twitter made money while changing the culture. But this is rare -- a few dozen cases per year.
Rather, most who make money do so in ways don’t directly shape culture, e.g. by investing. For these folks, showing proof of cultural literacy has value.
Why?
Sep 27, 2021 • 13 tweets • 4 min read
1/12 Why did I spend millions on an NFT when I could have just downloaded the JPEG? @DCLBlogger
Mental model #2: Alway bet on scenius.
Thread 🧵:
2/12 What is scenius? From Brian Eno: “The intelligence and the intuition of a whole cultural scene. It is the communal form of the concept of the genius.”
1/24 Why do I have so much conviction on NFTs? Most of the biggest tech successes of the last 20 years have come from unlocking frozen assets, and NFTs do just that. For investors and entrepreneurs, this is a super important mental model. Some examples 👇:
2/24 AirBnB unlocked underused residential real estate. The original insight was that if you own a house or an apartment with a couch, every night that it’s empty between 10pm and 6am is like taking a fifty-dollar bill and lighting it on fire. Extra room? At least a Benjamin.
