Bursting the NFT Bubble w/ Jacob Silverman

Paris Marx is joined by Jacob Silverman to discuss the implications of the recent NFT boom, the libertarian ideology that underpins crypto, and where the hype economy goes from here.

Jacob Silverman is a staff writer at The New Republic and the author of “Terms of Service: Social Media and the Price of Constant Connection.” Follow Jacob on Twitter as @SilvermanJacob.

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Also mentioned in this episode:

• Jacob wrote about all the things rich people are spending their money on during the pandemic, including NFTs and cryptocurrencies.
• Everest Pipkin explained all of the environmental problems with NFTs, and how they’re built into the core of the technology.
• Some people are buying NFTs, then finding they disappear or can’t be accessed.
• Bitcoin uses more energy than Argentina, but could consume more than Australia by 2024.
• Bill Gates said Bitcoin is a “pure ‘greater fool theory’ type of investment.”
• Anil Dash explained that NFTs were supposed to help artists, not just be another speculative asset.
• Taylor Lorenz wrote about how creators are monetizing their lives.
• The New York Times and Forbes (among others) sold NFTs while reporting on them.
• Tom Brady is the latest celebrity to get into NFTs.
• The NFT boom may already be going bust.