Patreon Preview – 136. NFT: ‘Nother Financialization Tactic

We dig into the complete disaster that is the NFT ecosystem before zooming out to discuss how the real promise and purpose of NFTs is as an instrument for total financialization of everything. Turning every piece of data about any little thing into a commodity that can then be securitized, collateralized, and speculated with. Contained within this little dumb oddity is the seeds for a world designed and defined by fictitious capital – which firms like a16z are doing their damndest to make grow. Some things we reference: ••• The NFT Ecosystem Is a Complete Disaster | Edward Ongweso Jr. https://www.vice.com/en/article/xgdvnd/the-nft-ecosystem-is-a-complete-disaster ••• The Internet Is Just Investment Banking Now | Ian Bogost https://www.theatlantic.com/technology/archive/2022/02/future-internet-blockchain-investment-banking/621480/ ••• Why some Australians are paying real money for virtual land in the metaverse | James Purtill https://www.abc.net.au/news/science/2022-02-04/metaverse-australians-paying-money-virtual-land-real-estate/100798106 ••• Bored Ape start-up in investment talks with Andreessen Horowitz | FT https://www.ft.com/content/acc635d6-bb05-4af6-b4da-b8462c06466d ••• Mapping the celebrity NFT complex | Max Read https://maxread.substack.com/p/mapping-the-celebrity-nft-complex Subscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills Grab fresh new TMK gear: bonfire.com/store/this-machine-kills-podcast/ Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)