Comrade Cosmonaut Blog

Why we won't do NFTs

Written by Comrade Cosmonaut | Sep 11, 2022 9:33:05 PM

Even though the hype has died down and crypto seems to be finally be going out of style, we want to pre-empt any questions about or grifters who suggest that we need to do NFTs. If you're not yet aware, NFTs (Non Fungible Tokens) are being positioned as a sort of digital collectibles. There's only one of each NFT that are "minted", they're usually shown as a picture, but are actually a record of a hyperlink on a blockchain. This is what you actually buy, the rights to the record that links to the visual representation of your NFT.

The problem for us is that this is has very little to do with what we appreciate about collecting. There is no way to hold your collection in your hands, to appreciate the items you've brought together. The culture around NFTs isn't about completing collections, building around a theme or enjoying the collected items. Most of the people involved with NFTs care first and foremost about the appreciation of their assets. They're not really collectors, they're speculators. That's not what we want to do.

A big part of our ethos is the joy of collecting, the gathering of knowledge about the products, the community, the outside chance at a rare item. Rare is valuable, but not every value is decided by the monetary worth. The last item needed for the completionist, the unknown related item for the thematic collector, the misprint for the scholar, they can all be rare, but not specifically valuable. The concept of owning a link to a file just doesn't fit in with that. It misses the emotion that a physical item gives you.

The other part is that there is only a unique object in a series. You'll never be able to have a complete series, unless there are no other collectors. It kills the joy of collaboration, of learning more things from others, as there is only competition for the available item. There is no realistic completion of any collection for the same reason, as you can't complete without making sure others can't. Of course there's an argument there are finite objects to collect and not everyone can have a complete collection, but with physical objects reproduction is possible and there are usually more than one unique object.

So to conclude, all the things we find enjoyable about collecting and the ethos we care about, aren't there in NFTs. So before you a no, we won't be creating any NFTs.