1/ On Ether Rocks (sortof briefly)
My mildly spicy take on Ether Rocks is that, if you are triggered by how Sotheby's describes them, you still don't totally believe in building a on-chain decentralized future and you need more conviction.
Who cares what the description says?
My mildly spicy take on Ether Rocks is that, if you are triggered by how Sotheby's describes them, you still don't totally believe in building a on-chain decentralized future and you need more conviction.
Who cares what the description says?
2/ You see, the reason you care, is because you still want the imprimatur of Sotheby's for your favorite intellectual, artistic or financial NFT bag.
I mean, ok, this says more about you than about Sotheby's or Ether Rocks.
Why do you care?
I mean, ok, this says more about you than about Sotheby's or Ether Rocks.
Why do you care?
3/ First of all, it is very clear that Sotheby's does not work exactly that way.
Sotheby's, for example, will auction off the shoes that Michael Jordan wore in the NBA Finals if there is a market for that.
Why are you not triggered by that?
Sotheby's, for example, will auction off the shoes that Michael Jordan wore in the NBA Finals if there is a market for that.
Why are you not triggered by that?
4/ Oh, I know.
Because you want Sotheby's to craft the narrative for the theoretical rich TradArt collectors who are inbound.
It hurts the "artistic narrative" if Sotheby's tells TradArt about Ether Rocks and not, say, MathCastles or Manoloide.
Because you want Sotheby's to craft the narrative for the theoretical rich TradArt collectors who are inbound.
It hurts the "artistic narrative" if Sotheby's tells TradArt about Ether Rocks and not, say, MathCastles or Manoloide.
5/ To which I say to you, you lack conviction in crypto and NFTs.
If you are buying NFTs in the hope that Sotheby's crafts a narrative to some 169 year old TradArt collector to finally validate your thesis, well, GL to you.
What a total waste of useful brain cycles.
If you are buying NFTs in the hope that Sotheby's crafts a narrative to some 169 year old TradArt collector to finally validate your thesis, well, GL to you.
What a total waste of useful brain cycles.
6/ I am pretty sure that 99%+ of people who have ever spent 100ETH+ on an NFT are crypto-native.
And if it is not 99%, it is because it is 100%.
Every single one of us knows what an Ether Rock is.
And if it is not 99%, it is because it is 100%.
Every single one of us knows what an Ether Rock is.
7/ A lot of "sophisticated" artists and collectors and art critics and curators are still in their "enterprise blockchain" phase.
BTC 2014 to 2016 basically.
A lot of thoughtful arguments that it is The Establishment we need to kiss up to.
"Do it their way"
BTC 2014 to 2016 basically.
A lot of thoughtful arguments that it is The Establishment we need to kiss up to.
"Do it their way"
8/ To be super clear.
If you spend too much time worrying about if Sotheby's, the Whitney and Gagosian fully appreciate your NFTs, it is no different than spending too much time worrying if JP Morgan Chase, Vanguard and the ECB love BTC.
If you spend too much time worrying about if Sotheby's, the Whitney and Gagosian fully appreciate your NFTs, it is no different than spending too much time worrying if JP Morgan Chase, Vanguard and the ECB love BTC.
9/ Wait, isn't it good for The Whitney to acquire NFTs.
Yes, it is great.
We welcome everyone because we are permissionless.
Even JP Morgan who complains all the time about BTC cannot be prevented from participating in ETFs.
Yes, it is great.
We welcome everyone because we are permissionless.
Even JP Morgan who complains all the time about BTC cannot be prevented from participating in ETFs.
10/ But the reason there are BTC ETFs it is because BTC won outside the system.
If BTC went and kneeled in front of JP Morgan begging JPM to support it, well, it will be waiting forever.
If BTC went and kneeled in front of JP Morgan begging JPM to support it, well, it will be waiting forever.
11/ Crypto and NFTs are disruptive innovations, not sustaining innovations (look it up).
Which means traditional institutions will only come kicking and screaming when they "have to".
We should just focus on improving ourselves, not crying that we are not "appreciated" enough
Which means traditional institutions will only come kicking and screaming when they "have to".
We should just focus on improving ourselves, not crying that we are not "appreciated" enough
12/ What about the rocks themselves?
Well, I think they are kindof silly and don't own one, by following my own simple rule of "not buying things I do not want to buy"
Beyond that, why should I care if someone else wants to buy one?
Well, I think they are kindof silly and don't own one, by following my own simple rule of "not buying things I do not want to buy"
Beyond that, why should I care if someone else wants to buy one?
13/ Not even the most ardent Ether Rock enthusiast claims they are a big artistic breakthrough.
They are properly understood as an extreme potlatch.
"I am willing to spend 160ETH on a clip art rock" demonstration of wealth/sacrifice.
They are properly understood as an extreme potlatch.
"I am willing to spend 160ETH on a clip art rock" demonstration of wealth/sacrifice.
14/ Am I morally offended by this?
Why would I be?
Rich people also buy expensive jewelry, supercars, mansions, private jets, fur coats and Rolexes.
I assure you that they were not otherwise going to spend this money on "your favorite obscure indie artist"
Why would I be?
Rich people also buy expensive jewelry, supercars, mansions, private jets, fur coats and Rolexes.
I assure you that they were not otherwise going to spend this money on "your favorite obscure indie artist"
15/ Just like a Birkin Bag is "overpriced" relative to its input costs due to its actual or perceived scarcity, a whole set of uber-luxury goods work that way.
People may genuinely like them but also the cost barrier creates the exclusivity which is part of the point.
People may genuinely like them but also the cost barrier creates the exclusivity which is part of the point.
16/ Primates have been social signaling for millions of years.
It is probably evolutionarily driven ("I have resources, mate with me").
It is deeply rooted in human DNA and psyche and you, the One True and Correct artist/art critic, are not going to change it.
It is probably evolutionarily driven ("I have resources, mate with me").
It is deeply rooted in human DNA and psyche and you, the One True and Correct artist/art critic, are not going to change it.
17/ Getting triggered by it is as productive as getting triggered by the fact that people need to pee a few times per day.
It is just how people are built.
So you can take advantage of it (if you like or can) or ignore it and do your thing, but why stress about it.
It is just how people are built.
So you can take advantage of it (if you like or can) or ignore it and do your thing, but why stress about it.
18/ tl;dr Find some more internal conviction instead of checking all the time if "TradArt" will support your narrative.
Have a great day!
Have a great day!
Loading suggestions...