NFTs aren’t a social network in the traditional sense. There isn’t a NFT, Inc. They don’t have a home, one place where every NFT owner congregates and NFT, Inc. aggregates. Maybe OpenSea does it? Maybe it’s something like blockchain games/virtual worlds like CryptoVoxels, Decentraland, or The Sandbox. Maybe someone builds a pseudonymous social... See more

This is the power of valuable NFTs: they are high in social capital and utility, and moving higher in entertainment. They hit the social network trifecta.

In retrospect, this is an obvious extension of the social Internet. Social networks made social capital -- that is, popularity and influence -- scalable and quantifiable. We went from vaguely knowing who were the most admired kids in school to knowing who exactly are the most admired people in the world. In doing so, social media commercialized the... See more