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CREATORS may rush to start minting NFTs as a way to get paid for what they’ve created. Unlike alternative digital currencies which are relatively complicated to invent and sell, it’s recently become super easy to ‘mint’ an NFT. I could, for example, turn each of the 8,500 posts on this blog into a token and sell them on the open market.

But Graeber loses traction when he tries to explain why “it’s as if someone out there made up pointless jobs for the sake of making us all work,” or when he attempts to get a handle on how automation and technology have done the opposite of creating a lovely four-hour workday. His explanation hews to an argument that fits his politics:... See more

Of course, all of this is really just describing the difference between high gross margin and low gross margin companies. These can both be perfectly ‘good’ companies (“there’s no such thing as a bad company, just a bad price”), but you have to remember the difference, and it’s surprisingly easy to forget. People really did think that Facebook... See more

Owning a wallet would also have advantages for Discord itself:

Payments make the whole cycle more powerful while also generating revenue for the company. By integrating with Paystack, they avoid building a payments company for each market they go into and avoid the regulation (and hefty central banking deposits that come with it) to register as a PSP.