A Theory of Value

If we can democratize access to a veblen good, status becomes about being a part of something, rather than how much money you have. We already see this in products like Fractional and PartyBid, which enable collective ownership of highly sought-after NFTs, as well as in products like RabbitHole, which allow users to earn crypto by using the latest

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At inception, tokens are neither digital stores of value, nor equities—they are simply promises that attract an audience.