From my column a few weeks ago:
https://adamstevenwarshaw.substack.com/p/cut-the-crap
"...don’t get me started on the infected anal fissure that is crypto, though it has been fun watching the arrogant crypto-bros getting gelded this year; the word for the day is “schadenfreude” when it comes to those insufferable dicks. Suffice it to say that when you have an unregulated market the crooks, cons and swindlers have a field day with the true believers stupid enough to trust them with their money."
Same goes for NFTs. Who could have foreseen a calamitous situation there? Well, everyone.
GEORGE: See, this should be a collectible. This is the collectible.
JERRY: What?
GEORGE: This. Just a short video clip that is online.
JERRY: (dismissing) Yeah, right.
GEORGE: I'm really serious. I think that's a good idea.
JERRY: A non-existent collectible that no one issues and no one can touch? Well, what's the collector get?
GEORGE: Nothing.
JERRY: No real item?
GEORGE: No, forget the real item.
JERRY: You've got to have something to collect.
GEORGE: Who says you gotta have that?
JERRY: And who supports this item? What does it look like?
GEORGE: Anything. I could be on a clip.
JERRY: You?
GEORGE: Yeah. You could base a clip on me.
JERRY: So, there's a clip showing George Costanza?
GEORGE: Yeah. There's something wrong with that? I'm a character. People are always saying to me, "You know you're a quite a character."
JERRY: And who else is on a clip?
GEORGE: Elaine could be a clip. Kramer...
JERRY: Now he's a character. (Pause) So anybody I know gets to be on a clip?
GEORGE: Right.
JERRY: And it's a collectible that doesn't exist and is backed by no one and nothing?
GEORGE: Absolutely nothing.
JERRY: So you're saying, I go in to Topps, and tell them I got this idea for a collectible that is nothing.
GEORGE: We go into Topps.
JERRY: "We"? Since when are you a writer?
GEORGE: (Scoffs) Writer. We're talking about a baseball card maker.
JERRY: You want to go with me to Topps?
GEORGE: Yeah. I think we really got something here.
JERRY: What do we got?
GEORGE: An idea.
JERRY: What idea?
GEORGE: An idea for a collectible.
JERRY: I still don't know what the idea is.
GEORGE: It's nothing.
JERRY: Right.
GEORGE: Everybody's making something, we'll make nothing.
JERRY: So, we go into Topps, we tell them we've got an idea for a collectible that is nothing.
GEORGE: Exactly.
JERRY: They say, "What's your collectible made of?" I say, "Nothing."
GEORGE: There you go.
(A moment passes)
JERRY: (Nodding) I think you may have something there.