Status Monkeys - By Packy McCormick - Not Boring by Packy McCormick

Social networks reward early adopters, and a social network with money baked in gives early believers a double-whammy. Go explore. Find an NFT that resonates with you. Join a PartyBid. Get involved. And for the love of god, don’t be one of those older folks that scoffs at NFTs.

That said, NFTs will face an asymptote from crypto adoption and affordability. NBA TopShot and Fractional are steps in the right direction, and no doubt more innovation will come to make NFTs more accessible to a wider group of people while retaining the benefits of scarcity, or replacing scarcity with other benefits, like community.

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 netw... See more

NFTs are not asking people to leave their favorite existing social network. In fact, it’s better for the NFT collection and all of its holders if everyone shows off and talks about their NFTs on their favorite existing social network.

Owning a CryptoPunk or a Bored Ape, and often displaying it as your Twitter or Discord or Telegram profile pic, says something about you. They say that you were either early, or you’re rich, or you were early and now you’re rich.

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.

What if you could get the benefits of a social network in a more portable, decentralized package? It’s time to turn it over to NFTs.

On the deflation side, social networks can get less cool as more people join. The canonical example here is what happened to Facebook when parents started joining: all the young people left for Instagram and Snapchat. Social networks need to be analyzed based on more than their network effects... There are three axes for analyses: Social Capital, U... See more

It costs more to mine BTC now than it did earlier, and will continue to get harder until all 21 million BTC are mined. In the early days of Twitter, you could get followers by tweeting what you were eating for lunch; today, people have resorted to long threads.