ARTS & CULTURE
Hope rises like a phoenix from the ashes of shattered dreams...
now have the power to play with mind boggling concepts and programs from the comforts of our own homes, managing our public relations via twitter and discord or team meetings using a google hangout. With this new era of innovation came an entirely new jargon and community, revolutionizing our financial system. Whilst Bitcoin revolutionized decentralized finance, NFTs armed us with the ability to own unique physical and digital assets, arming creators with all the powers typically owned by the old guard. Creators are now liberated from the confines of an antiquated system that lacked equality, transparency, and most importantly freedom to own one's data and intellectual property.
Why is it that we are so resistant to change?
Digital assets were reaching all-time highs with the anticipation that the asset class would continue to grow at unprecedented rates. Market analysts predicted further spikes, flooding the market with junk coins, and other second grade promises of overnight wealth to the unsavvy investor. Bored Apes sold for millions and other NFTs with no true value were selling out before release. As Warren Buffet referred to digital assets as the “Greater Fool” theory of economics, proving that public perception of digital assets has shifted from an innovative technology to a marketing, money grabbing opportunity.
By Estelle Ohayon
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hy does our nature drive us to fear change, innovation and the abnormal? Why do a tiny percentage of us dare lead the world into uncharted territory, whilst most are happy following the lead of others?
As people noticed that NFTs, Tokens and Metaverses were becoming the hot topic of discussion, “FOMO” took over, investors began to throw their money into projects with little reasoning beyond “FOMO”.
It takes true leadership and an innovative mind to alter our world from the norms that we have become so accustomed to today. We are currently living in an era of decentralized innovation, where the world doesn't care about the university you went to, or where you interned during your studies.
Suddenly, just as quickly as it rose, the crypto market started to crumble down. Crypto millionaires found themselves scrambling, investors panicked and projects began to disappear.
The great minds, creators and innovators behind many of the blockchains latest developments including DeFi, Metaverses and NFTs are no different to the likes of you and I. Thanks to the gift of the Blockchain, the cost of becoming an innovator both emotionally and financially have shrunk drastically. We w w w. s p e n c e r- m a g a z i n e . c o m
Was this a ticking time bomb? Did we get overly confident? Were we the “greater fool”?
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