It’s weird to me that people get regular tokens, but don’t get NFTs? NFTs are enriched tokens, with higher information density, that can enable far more use cases. It’s a new asset class. If you don’t get it, it’s not due to lack of information, but due to lack of imagination.
Fungibility is a human abstraction to make value transfer easier. Trading my NFT goat for your NFT berries was very hard to scale, due to our primitive communication systems. Low bandwidth comms force us to create abstractions- accounting units representing different things.
In this case, I need to break down my goat into its “value atoms” to make it through our low bandwidth communication system, thus we created money. But what if we are in a high-bandwidth system, what happens? What are the implications of Web3?
Naturally, the human instinct is a skeuomorphic one. Take what we know and make it more efficient. Money, Stocks, Financial System, etc… When the TV was invented, the first shows were theatrical plays. We couldn’t imagine any other type of entertainment.
With time, we realize that new mediums completely change the game. So back to web3… We are in a high-bandwidth system. We don’t need to rely on abstractions as much anymore. We can actually get closer to the value layer. Time, skill, creativity will literally become money.
The future is nothing like we know, and it’s about to get really weird.