NFTs Are a Scam NFTs Are the Future by Bobby Hundreds

Author:Bobby Hundreds
Language: eng
Format: epub
Publisher: Farrar, Straus and Giroux

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As Ben and I got more enthused about the CryptoPunks and the dynamics around their ecosystem, we reached out to Matt and John at Larva Labs and inquired about doing an official collaboration together. The way we saw it, this was a cultural milestone and arguably the first physical moment where crypto and streetwear overlapped. In honor of the purple hat trait, we made exactly that: a purple snap-back baseball cap. Our initial idea was to have various punks embroidered across different headwear styles, but Matt and John were adamant that we only use a zombie CryptoPunk and produce an extremely limited supply of hats. To no one’s surprise, they sold out in a sliver of a second.2

I started writing a lot about NFTs that spring of 2021. For one, I was captivated by the space and wanted to talk to as many people about it as I could. Secondarily, there was a real lack of literature on the subject matter, especially in a digestible language for someone who wasn’t technically versed in crypto. The pandemic was in full boring mode. People had nowhere else to be except on their phones or playing Animal Crossing on their Switches. And paradigms were shifting. NFTs were exploding, everyone else was making absurd amounts of money, and the average person was desperate for someone to package the concept for them in a tidy little box.

I moved from Clubhouse to Twitter Spaces, adjusted my social media to be more oriented around NFT talk, and hosted weekly invite-only Zoom sessions to answer questions for frustrated friends. I was drowning in stacks of texts daily, many from people whom I hadn’t talked to in years. They didn’t even need to mention the words “NFT” or “Web3.” I knew exactly what they wanted—and of course, they assumed they were the only people in the world who’d thought to knock on my door.

“Hey man, it’s been a few years. Was wondering if I could take you out to lunch sometime. My treat. Wanted to pick your brain about something…”

“Bobby! Do you have time for a quick call?”

“Got an idea where we can both make money. You’re gonna love it.”

Most took offense when I said there was a line of people ahead of them or that I had to focus on my own work or tend to my family. It was also difficult to weigh a stranger’s generous request to pay for my thoughts with a cup of coffee when agencies were offering $100,000 for an hour. Suddenly, I was a bad friend, selfish, and caring only about money. I had to stop checking my texts for weeks at a time and hope that the relationship would remain intact after the cyclone passed. A friend told me, “Don’t worry about burning a bridge. They’ll always come back when they need something again.”

Meanwhile, over the last two years, I’ve been fielding inbound requests from famous and powerful people solely with regards to NFT advice. Never in a million

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