A great writeup as always, but wanted to push back just a bit on the idea of NFT as a status enhancing network. While I don't disagree that humans are status seeking monkeys, NFTs don't yet confer the type of social prestige that would create that social network enhancing effect.
I think it is lacking a "metaverse" that is widely used to show off that NFT token. This metaverse has to be both widely used, so that people can notice your status signalling, and it has to have some type of exclusivity (or scarcity) with the particular NFT token series . After all, NFT art seems like it can be pumped out fast. And the same art can even be reused multiple times if you have different NFTs built on different blockchains right? e.g if I purchase a NFT piece of art, how am I going to get everyone on say Facebook to realize that pixelated art avatar is worth a million bucks ? There isn't evenfunction on Facebook to support authenticating that you are the only allowed user of that NFT art...
Until something like this happens (think the Metaverse in REady Player One) I think NFT is a fad. I think it will have great functionality once the appropriate dominant metaverses are created that can leverage them
The article "Status Monkeys" provides a compelling exploration into the dynamics of social status and its impact on human behavior, drawing parallels from the animal kingdom to modern society. It delves into how individuals navigate social hierarchies, seeking validation and recognition in various domains. The author skillfully weaves together anecdotes, research, and personal insights to illuminate the complexities of status-seeking behavior. As a social media marketing specialist from https://oceanpowerltd.com/social-media-marketing/, I appreciate the nuanced understanding it offers, shedding light on motivations that drive engagement and interactions online. It prompts reflection on the role of status in shaping digital communities and influencing social media dynamics.
Thanks for sharing this insightful guide on building dApps on the XDC Blockchain! It's always exciting to explore new possibilities in the world of decentralized applications. For those interested in further expanding their crypto journey, I highly recommend checking out the article on icoholder.com about turning Bitcoin into USD https://icoholder.com/blog/how-to-turn-bitcoin-into-usd/. It offers valuable insights into navigating the crypto landscape and making the most out of your digital assets. Happy building and investing!
A great writeup as always, but wanted to push back just a bit on the idea of NFT as a status enhancing network. While I don't disagree that humans are status seeking monkeys, NFTs don't yet confer the type of social prestige that would create that social network enhancing effect.
I think it is lacking a "metaverse" that is widely used to show off that NFT token. This metaverse has to be both widely used, so that people can notice your status signalling, and it has to have some type of exclusivity (or scarcity) with the particular NFT token series . After all, NFT art seems like it can be pumped out fast. And the same art can even be reused multiple times if you have different NFTs built on different blockchains right? e.g if I purchase a NFT piece of art, how am I going to get everyone on say Facebook to realize that pixelated art avatar is worth a million bucks ? There isn't evenfunction on Facebook to support authenticating that you are the only allowed user of that NFT art...
Until something like this happens (think the Metaverse in REady Player One) I think NFT is a fad. I think it will have great functionality once the appropriate dominant metaverses are created that can leverage them
This is brilliant. Thanks for this analysis!
The article "Status Monkeys" provides a compelling exploration into the dynamics of social status and its impact on human behavior, drawing parallels from the animal kingdom to modern society. It delves into how individuals navigate social hierarchies, seeking validation and recognition in various domains. The author skillfully weaves together anecdotes, research, and personal insights to illuminate the complexities of status-seeking behavior. As a social media marketing specialist from https://oceanpowerltd.com/social-media-marketing/, I appreciate the nuanced understanding it offers, shedding light on motivations that drive engagement and interactions online. It prompts reflection on the role of status in shaping digital communities and influencing social media dynamics.
Thanks for sharing this insightful guide on building dApps on the XDC Blockchain! It's always exciting to explore new possibilities in the world of decentralized applications. For those interested in further expanding their crypto journey, I highly recommend checking out the article on icoholder.com about turning Bitcoin into USD https://icoholder.com/blog/how-to-turn-bitcoin-into-usd/. It offers valuable insights into navigating the crypto landscape and making the most out of your digital assets. Happy building and investing!
Great article, I'm also starting to become interested in the topic of nft avatars. It's worth investing in this ad. I recommend this post on this topic: https://gamerseo.com/blog/are-nft-avatars-worth-the-hype-around-them/
So many words to rehash a known phenomenon: the Veblen good.
NFTs are Veblen goods for geeks.
Thank you for this analysis, this makes the creator more understand those social networks requirement which compared to the past time.