Line Goes Up – The Problem With NFTs

If someone pitches you on a “great” Web3 project, ask them if it requires buying or selling crypto to do what they say it does.

Sources and Further Reading

Written and performed by Dan Olson

00:00:00 Preface
00:01:12 0. In 2008 The Economy Collapsed
00:07:09 1. Bitcoin
00:18:18 2. Ethereum
00:24:34 3. The Machine
00:39:07 4. NFTs Exist To Get You To Buy Crypto
00:57:54 5. The Unbearable Cringe Of Crypto
01:11:46 6. A Self-Organizing High Control Group
01:16:57 7. Crypto Reality
01:25:36 8. There Is No Privacy On The Chain
01:32:52 9. If This “Looks Like Scam” Then Every NFT Room I’m In Looks Like Scam LOL
01:38:29 10. Play To Earn Exists To Get You To Buy Crypto
01:46:39 11. We’re All Gonna Make It And By “We” I Mean “Us” Not You
01:56:08 12. DAOs Exist To Get You To Buy Crypto
02:13:21 13. I Know It’s Rigged, But It’s The Only Game In Town

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About the Author: Courtney Sparks


  1. Thanks for a decent review. Personally, I am waiting for more updates from Monsta Infinite. It has some similarities with Axie and in the game. The essence is very simple with mini game, Tapwa by moving runes on match-3 and with a little investment, you can earn STT by tributing items in the game as well

  2. And the cherry on top Facebook/meta is crashing into the ground. While not exactly NFT based. The idea of the metaverse is dying too which for all intents and purposes is sort of tied to nft or the idea of it

  3. How many times do I have to stop this video from my auto play for YouTube to understand I don’t want to see it?

  4. I really, really hope Dan celebrates the 1 year anniversary of this by posting a follow-up detailing the spectacular long-form crash-and-burn that's played out for NFTs and crypto over the second half of 2022. The logical title for said project would obviously be Line Goes Down, but I'd actually vote for him just calling it "Victory Lap".

    Godspeed, Dan. I've loved your stuff for years but you legitimately did all of humanity a gigantic solid with this one.

  5. The average NFT buyer is:
    – someone who is tenuously middle class
    – socially isolated
    – highly responsive to memes
    – insecure of their lack of knowledge (to the point of dismissing any criticism out of fear of being wrong)
    – highly susceptible to flattery
    – very anxious

    …so, a typical Reddit user?

  6. 2:06:01 'Copyright? There is no copy, there is just Steven.' I keep coming back to this video and laughing hysterically at this part. It's so… staggeringy devoid of any knowledge about anything in the real world.

  7. I poke fun at Dan but I love his driving prose and unrelenting lucidity. I can't believe how many times I've watched this all the way through without intending to.

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