July 28, 2021 / John Horvat II / tfp.org
People today live in make-believe worlds. They are conditioned to believe they can be or do whatever they want.
Usually, such fantasies are limited by the real world. However, modern technologies now facilitate the illusions of making believe by creating illusions. The business world is not far behind by providing products that humor people into believing their fantasies can be real. People can then effortlessly indulge in them if they pay the right amount of money.
The latest craze in fantasy-enabling is the Non-Fungible Token (NFT) mania shaking the virtual world. People can claim to own original digital images (often readily available online) by registering their purchases on blockchain platforms. Buyers have nothing to show for their purchase save the original code of historical video moments, gifs and other digital creations. These digital assets often sell for tens of thousands of dollars.
Digital Horse Racing
A new development in this field is the interactive NFT, which consists of virtual assets that seem to have a life of their own. A mania has emerged in the form of digital horse racing.
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