The Currency of Community - by David Phelps - Three quarks
davidphelps.substack.com · 2,815 words · saved by 1 readers
Why NFTs are the best social tokens—and always have been.
I. One of the many paradoxes of status symbols is that they must be hidden and they must be seen. They must be seen, of course, because they must impress, and there must be someone on the receiving end of status to be impressed. But at the same time, status symbols must be hidden, just slightly, so that they reward the receiver with a warm welcome into a sanctuary where they can feel special, rewarded—that they belong to something bigger, slightly imposing, worthy of worship. Status symbol houses rarely face the road, for example, just as the ultra-wealthy usually collect their status…
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