Information failure
https://www.economicsonline.co.uk/Market_failures/Information_failure.html
Information failure is another, significant, market failure and can occur in two basic situations. Firstly, information failure exists when some, or all, of the participants in an economic exchange do not have perfect knowledge. Secondly, information failure exists when one participant in an economic exchange knows more than the other, a situation referred to as the problem of asymmetric, or unbalanced, information.
NFT Projects are just MLMs for Tech Elites
https://every.to/napkin-math/nft-projects-are-just-mlms-for-tech-elites
A somewhat impartial review of current NFT business models
An update on the accessibility of conditionally revealed questions
The GOV.UK accessibility team found an accessibility issue with conditional reveals. They discovered that users are not always notified when new information, such as a follow-up question, is conditionally revealed, particularly for screen reader users.
My first NFT
Did you ever collect garbage pale kids cards when you were young? Non-fungible Tokens are like that but for the internet. You need an ethereum wallet and an opensea account but then you can collect NFTs.
The Cistercian Date Club was giving away the date of your choice, so I chose my birthday. A record was added to the blockchain and transferred to me. So now I ‘own’ my birthday and no one else can unless I transfer it to them.
Why would anyone want to collect their birthday, or any NFT for that matter? Well that’s an interesting question with an answer somewhere around the intersection of the emerging technology of blockchain, the human psychology of collecting things, and the economics of perceived uniqueness. Opinions vary. Some see this intersection as revolutionising how we record ownership. Others consider it akin to the dot com bubble with people getting excited about nothing. I guess it could be both.