Here’s an impassioned thread I came across that makes a compelling case for why the use case for NFTs (non-fungible tokens) is higher than we even realized.

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Essentially, as he argues in the 26th installment of the tweetstream,

the real revolution is to reinvent the fundamental operating layer of society. Meanwhile, the main operating layer of US society seems to be in need of reinvention.

Back on Jan 3, 2020 (way before Covid was a thing), I wrote a post called How Blockchains Unbundle Trust and Why that Matters. What I got right there was that DeFi and so-called “money legos” matter because they take financial products and allow for new value to get created.

Where I didn’t go far enough (in that post at least, compared to say How Crypto-Economic Systems Could Save Capitalism and Democracy, Crypto-Democracy is Coming, and Imagine Blockchain Democracy Without Political Infighting) is in explaining how nation-states themselves will get unbundled.

NFTs and the JPGs that are the visual representation of those tokens are the “citizenship badges” of new nation-state like entities, which cross physical borders and exist first (but not last or only necessary) in cyberspace/metaverse/internet-whatever you want to call it.

The point is this…while the price action of Bitcoin, Ether, Solana, Radix, or others get the attention, what is missed is that the new cryptoeconomic systems that these networks enable are great and powerful and will unlock a torrent of value and wealth, what’s really powerful is that NFTs will become the new passports…and you’ll be able to hold as many as you want, if you’re willing to put some skin in that network’s game.