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Magic Beans - by Venkatesh Rao - Ribbonfarm Studio

An NFT represents an access pass to an unspecified, generative possible future associated with an object. It is a key to a possible world. A key that is distinguishable from other keys. A key to a world that may or may not open up. A key that carries some hints of the kinds of locks it might unlock. A key that, unlike fungible tokens (or stock),... See more
Venkatesh Rao • Magic Beans - by Venkatesh Rao - Ribbonfarm Studio
They are technically complex, but socially promiscuous in a way only much simpler digital things, such as plain text files or JPEGs, have been so far. As we’ve discussed, they’re also kinda content-free. They bear no necessary payloads, pointers, programmed affordances, or rights. All those things are optional extras. The NFT itself is just a token... See more