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Monday, January 03, 2022


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Not to defend its existence, but the whole point of NFTs is to create digital scarcity. For the few to have a few.

Second Life isn't really comparable for a lot of reason, but if you tried to equate the way NFTs work with Second Life's asset system, Second Life would need to be entirely no-copy/trans based, with the additional constraint of only one of something is ever sold. Like a really expensive gacha machine that allows 1 win per product ever. If Second Life were that way, it'd be a lot smaller and niche if it still existed at all without its predominant copy/no-trans culture.

Most of Second Life's users are in it for digital plenty, not scarcity. If you peruse Marketplace for limited quantity, no-copy/trans products...they exist, they're often expensive, but not too many people are into it at all. In that way, NFTs are way more successful than the most comparable concept in Second Life.


When the concept of NFTs was new and equal across the board, I was excited to the potnetial. Imagine having your SL inventory anywhere you wanted to be. And then the whales found out it was a perfect digital asset to park their money. And Linden Lab shows zero interest in working with NFTs. The biggest innovation I saw was when IMVU created their VCoin. And nothing from them about NFTs either. So as far as I'm concerned, NFTs are a rich man's toy.


Its not only a rich man's toy. I would say its more like a toy for people with more money then sense or for those looking for large scale money laundering.
It is the same sort of pyramid scheme as crypto currencies developed into. All those lofty ideas and hopes people had when it first appeared got thrown out in favour of greed, speculation and illegal activities. People might sometimes still talk about those lofty ideas, but if you look around, no one is doing it. There is just too much money in those other uses to actually even try to do something good with it.

In the end, I guess I should not be surprised. Our society revards that sort of behaviour and the people investing into that sort of stuff are often the same ones who will harp around how paying taxes or doing something of benefit to the society as a whole (actually working a day in their life might be a good start in many cases) is evil and restricting their rights to be ... well ... I wont write where I think they should stuff their crypto money and NFTs into.

And as I see this all happening, I am sad, that this is the only use we seem to have found for this sort of technology.



Above is the short version of how Play-To-Earn is helping people in developing countries. I don’t think NFTs or crypto is a scam. We’re just early. Also if you wanna see a change in the world posting articles like this one causes people to think and question. I just hope they do more than just that.


If anything, the small market size of NFTs is what should make someone BULLISH, not skeptical. It shows you how early it is and the success of in-game assets that literally have zero value in traditional gaming should also show you why real assets on a blockchain in real markets should be even bigger. This is the NFT market before Meta, Microsoft, Disney, etc even enter into the space.

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Wagner James Au
Wagner James "Hamlet" Au
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