The most obvious stupid scam ever conceived and they actually managed to hook a bunch of actual corporations

Square Enix, Nickelodeon, Coke, KFC, and more fell for this shit while regular people were laughing about how obvious a con it was.

Really puts into question the capitalist myth of the genius entrepreneur and the idea that these corporate types are rich because they are smart or deserving in some way.

  • Tachanka [comrade/them]@hexbear.netEnglish
    62·
    1 year ago

    funny thing about the bourgeoisie. All through the 1800s most bourgeois economists were convinced that labor is the source of value in commodities. After all, that is what Adam Smith and David Ricardo thought. Then Marx comes along and takes that fact to its logical conclusion (while adding nuance that it was labor power and not labor, but I digress): Proletarian revolution and the overthrow of the bourgeoisie and the abolition of wage labor and the capitalist mode of production. The construction of socialism. So from that point onwards Capitalists began increasingly inventing and embracing subjective (i.e. useless, non-materialist, non-predictive) theories of value, in order to distance “mainstream” economics from Marxist conclusions. This, coupled with the creation of fictitious capital, leads to them huffing their own farts more often than not, especially during recurring economic crises. Hence, nonsense like NFTs.

    • Hoyt [he/him]@hexbear.netEnglish
      16·
      1 year ago

      i just wish that new technology that came out was cool and good and made our lives better. When I was a kid all the phones went from landlines with boingy cords to wireless! The internet went from annoying dial-up noises that turned off the phone to so fast you could watch a movie faster than you could download a song just 5 years prior. Cars started coming with the unlocking button fob! THE BUTTON YOU PRESS TO UNLOCK YOUR CAR! it was so cool! Now all the technology sucks man. When’s the last time some little cool gizmo came out that made our lives better?

  • Lurkerino [comrade/them]@hexbear.netEnglish
    43·
    1 year ago

    I was learning 3D art and videogame design when NFTs became popular, I uploaded some renders I made for fun as art proyects to a NFT site, some idiot bought it for 1ETH, around 1000€, LOL

  • duderium [he/him]@hexbear.netEnglish
    41·
    1 year ago

    No need to use the past tense here. I have a friend who is still slinging NFTs. I haven’t talked with him in years but I stalk him every now and then to check in on him. He invested in bitcoin early on and then dumped it before the pandemic. If he’d held on to it (and then dumped it at just the right time), he’d be a billionaire now. So I think he’s reluctant to let go of NFTs. His big break is just around the corner. And he’s also a millionaire and his parents are hedge fund managers so he wins either way, at least until the revolution comes.

  • infuziSporg [e/em/eir]@hexbear.netEnglish
    39·
    1 year ago

    Everything is like this.

    Sucking up, lying, putting on a show, and being merciless is the biggest part of how anyone attains a managerial position.

    It’s not a bug, it’s a feature.

  • DifferenceEngine [none/use name]@hexbear.netEnglish
    37·
    1 year ago

    This is one of those moments where you realize these companies aren’t jumping on these trends things for us, but they’re doing it to placate an investor class that doesn’t know any better and wants them to be into the new, hot thing among these twitter brained friends.

    • batsforpeace [any, any]@hexbear.netEnglish
      23·
      1 year ago

      yeah I think the execs in these companies saw that people in their rich social circles were messing around with crypto and thought that meant everyone else is doing it and it’s the next big thing, for an industry that markets itself as innovative there’s a lot of herd mentality in tech

    • Ericthescruffy [he/him]@hexbear.netEnglish
      7·
      1 year ago

      I know we haven’t seen anything material manifest yet but: stupid as crypto and NFTs are I maintain this is probably the best thing that could have happened snice Square Enix was probably just gonna sit on the IP and produce shitty mobile titles or something for the next decade anyway. Now…we might actually got something worth checking out.

      • Rom [he/him]@hexbear.netEnglish
        3·
        1 year ago

        There’s been murmurs of a new Deus Ex title “very very early” in development. Here’s hoping something happens and there aren’t any dogshit one-time-use microtransactions this time around.

  • mkultrawide [any]@hexbear.netEnglish
    31·
    1 year ago

    This happens all the time among the MBA crowd. They are afraid of not doing something they think everyone else is doing, even if they don’t understand it. The head of my group at work has been talking about AI for months while all of the use cases for it have basically nothing to do with our work outside of writing emails. He did this before with crypto and we have a whole product offering that is useless now because the whole rypto market sublimated overnight.

  • queermunist she/her@lemmy.mlEnglish
    30·
    1 year ago

    Really puts into question the capitalist myth of the genius entrepreneur and the idea that these corporate types are rich because they are smart or deserving in some way.

    More than that, it calls into question the very concept of economic rationality - that the market behaves rationally based on the rational business decisions of rational actors acting in their own rational self interests.

  • LGOrcStreetSamurai [he/him]@hexbear.netEnglish
    29·
    1 year ago

    It’s funny “ha-ha” but also funny “damn this sucks dude”.

    Square Enix, Nickelodeon, Coke, KFC, and more fell for this shit while regular people were laughing about how obvious a con it was.

    That’s one of the big things I think the NFT craze highlighted. When the suits at MEGACORPS saw a potential way to make money off intellectual property they jumped at it. IP law is really bad, and IP financialization is even worse. They thought they saw a whole new way to create new sort of “premium” product and they all went feral like they were consumed Spirit of Greed from Weird West. They really believe they could make a gazillion dollar from nothing, they either truly thought that or convinced themselves that they did.

    Really puts into question the capitalist myth of the genius entrepreneur and the idea that these corporate types are rich because they are smart or deserving in some way.

    Big time! It also really highlighted how everyone is despite to get out of the capitalist trap. I really felt kinda bad for regular people who got duped into NFTs and crypto as a whole. I’m not trying to say they are dumb people or have no agency, just saying lots of regular people lost their hard earned cash cause they bet on NFTs and crypto being “the future”. Lots of regular people lost cash on the Robinhoods, the Coinbases, and the crypto dotcoms of the world. All of the “smart” “business people” were telling you NFTs and crypto was the future. Just yet another vampire scheme to siphon the lifeforce from working people =,