Send to a Friend

ragingloli's avatar

Does the invention of NFTs, and the attempt of corporations to force them on the population, indicate that a post-scarcity society is impossible for humans?

Asked by ragingloli (51994points) February 4th, 2022

NFTs are basically unique encrypted hyperlinks to an easily reproducible digital file on the internet.
Apart from the fact that people create NFTs for things that they have no actual rights to, and are right now used primarily as a giant pyramid scheme to allow a few speculators to extract money from idiots through monetised FOMO, the basic intent of NFTs is to artificially turn non-scarce resources, like digital files, into scarce resources for the sole purpose of maximising profits.
To me, this clearly indicates that Capitalism™ will never allow a post-scarcity economy to exist.
Even if someone invents a Star Trek replicator powered by zero point energy, that would allow anyone to create food, drink, clothing, tools, devices, etc. at will, for free, the capitalists will find a way to turn it into a highly rationed product to extract as much money out of the common citizenry as possible.

If you have 2 hours, here is a great video explaining the scammy nature of Crypto currencies and NFTs:
https://www.youtube.com/watch?v=YQ_xWvX1n9g

Using Fluther

or

Using Email

Separate multiple emails with commas.
We’ll only use these emails for this message.