1/ Prominent VCs hyping up NFTs and former VCs starting their own NFT startups.

It's a natural fit.

The barriers between a pretend play profundity and fundamentals is an ability to raise capital. They have plenty of capital.

Let the reflexivity arbitrage begin.

2/ Perhaps my failure to see something valuable in most of the modern art is my failure to find immense value in NFTs.

There is something Marxist-ish in "collectively attributed value" via expert class/circle-jerk (top-down) rather individually derived value (bottom-up).

3/ The aspect of non-fungibility could be seen as a device of market fragmentation that enables gatekeeping.

(Isolate & pump is the new divide and conquer)

Very much a form of reflexivity investing. https://twitter.com/hasufl/status/1353091225897869312?s=20

4/ NFTs seem to be in line with the "internet squad culture thesis".

"Squad wealth" = digital communism?

(btw this article has a very modern-art feeling)

https://otherinter.net/squad-wealth/ 

5/ The tenet of *Squads* seems to be class-based:

The digital world becomes a playground of the haves with the physical realm remaining a struggle of the have-nots.

The digital world is ready for the utopia. The physical world may just perish. The disconnect seems real.