0x1DCf
November 24th, 2021

This essay is inspired by artist Hito Steyerl's talk, 'Bubble Vision'. Not financial advice.

People get the "bug". They stay up late way past their bedtimes falling down a rabbithole of youtube videos explaining 'impermanent loss' and 'ERC-721 vs ERC-1155 standards'. They're reading semi-technical whitepapers because someone on the internet told them they have to DYOR ("do your own research") before they dump their coin into a financial site run by anonymous @ handles with promises of 1,000,000% APY. For individuals with high risk tolerances or the extra cash—usually men in their 20's—the risk/reward payoff is totally worth it. When a typical bank run by suits offers 0.5% APY in a savings account, why not ape (invest without research) your 401k into a bag of low resolution sprites?

Bubbles are the symbol of this secret society, in more ways than one: they are shared worlds, crystal balls, and financial fragility.