Are NFTs The Entertainment Industry's Doggy Bag?


Humans are driven by needs and desires to consume. However the law of diminishing marginal utility quickly sets in. The second hamburger is good, but not quite as satisfying as the first and by the time the third and fourth burgers are served up, even if they are free you don’t even want to look at them. Art and entertainment are similar though not exactly the same as food satiating hunger. But in that everyone only has 24 hours in a day there is a physical and mental limit to the amount of art and entertainment you can or would want to consume in a given day. So the model of entertainment “buffets”, think Netflix or Spotify…after your third trip to the food bar…the utility of the service is less and less and ultimately obeys the same law of diminishing utility as does the burger. But humans also have the nature to save up for a rainy day. Doggy bag anyone? We know we are going to be hungry again or that someone else might be, so even though the fourth burger served might not have utility now if we bring it home it may again regain some of it’s former glory in our eyes. Its less a consumption based factor and now more of an investment in the future. And that sums up our NFTs. They are simultaneously consumption AND investment. You can use them now. Listen to them. Watch them. Enjoy them and when you no longer get satisfaction from each additional view or listen you can rest easy knowing they are in your wallet to listen to another day, to complete a collection, or to even sell and pass on to others for them to enjoy through consumption or save up as an investment themselves. We can disrupt the law of diminishing returns of the all you can eat models of streaming. We take Intelectual Property and make it individually consumable and a personal investment at the same time. And, in that light we give value to something that in the end would be given away for nothing. We are the doggy bag for the arts and entertainment industry.