Sam Blumenthal

In December, a fashion startup called Scarce started selling used luxury clothing in the form of mystery boxes, following in the footsteps of a British startup, Heat, which launched with the same concept in late 2019. Both companies claim they have managed to avoid a high return rate — one of the biggest potential pitfalls of a mystery box sales... See more

The desire for good advice drives Chinese consumers to turn to experts. In China, “even farmers have become influencers,” Weinswig said. “People will buy their groceries from a farmer on a livestream.”

NFTs clearly belong in that tradition. They are digital social objects. Except they are a lot wilder. They don’t live within particular platforms or walled gardens, and aren’t attached to a particular company’s technology or even a specific open standard.