According to Garau, the sculpture doesn’t not exist per se, rather it exists in a vacuum, Newsweek reports. “The vacuum is nothing more than a space full of energy,” Garau explained. “And even if we empty it and there is nothing left, according to the Heisenberg uncertainty principle, that ‘nothing’ has a weight. Therefore, it has energy that is condensed and transformed into particles, that is, into us.”
The world doesn’t particularly need my opinions on NFTs (‘non-fungible tokens’) as there’s plenty of opinions to go round in other newsletters, podcasts, and blog posts.
After doing a bunch of reading, though, I think that the main use case for NFTs will be ticket sales. That is to say, when there is a limited supply of something with intrinsic value, and both the original buyer and seller want to ensure authenticity.
The rest is speculation and gambling, as far as I’m concerned, with a side serving of ecological destruction. I’m also a bit concerned about the enforcement of copyright everywhere on the web it might lead to…
NFTs, explained — “Non-fungible” more or less means that it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different. You gave up a Squirtle, and got a 1909 T206 Honus Wagner, which StadiumTalk calls “the Mona Lisa of baseball cards.” (I’ll take their word for it.)”
NFTs are a dangerous trap — “The more time and passion that creators devote to chasing the NFT, the more time they’ll spend trying to create the appearance of scarcity and hustling people to believe that the tokens will go up in value. They’ll become promoters of digital tokens more than they are creators. Because that’s the only reason that someone is likely to buy one–like a stock, they hope it will go up in value. Unlike some stocks, it doesn’t pay dividends or come with any other rights. And unlike actual works of art, NFTs aren’t usually aesthetically beautiful on their own, they simply represent something that is.”
Cryptodamages: Monetary value estimates of the air pollution and human health impacts of cryptocurrency mining — “Results indicate that in 2018, each $1 of Bitcoin value created was responsible for $0.49 in health and climate damages in the US and $0.37 in China. The similar value in China relative to the US occurs despite the extremely large disparity between the value of a statistical life estimate for the US relative to that of China. Further, with each cryptocurrency, the rising electricity requirements to produce a single coin can lead to an almost inevitable cliff of negative net social benefits, absent perpetual price increases.”
🍲 Introducing ‘Food Grammar,’ the Unspoken Rules of Every Cuisine — “Grammars can even impose what is considered a food and what isn’t: Horse and rabbit are food for the French but not for the English; insects are food in Mexico but not in Spain. Moreover, just as “Hey, man!” is a friendly greeting for a buddy but maybe not for your boss, foods may not be suitable in all grammatical contexts. “A Frenchman would think it odd to drink white coffee with dinner and an Italian probably would resent being served spaghetti for breakfast,” writes Claude Fischler in “Food, Self and Identity.” By the same token, rice is appropriate for breakfast in Korea but not in Ireland.”
The essence of this article is that food is a reflection of culture, and our views of other cultures can become ossified. A good read.
🌍 Scientists begin building highly accurate digital twin of our planet — “The digital twin of the Earth is intended to be an information system that develops and tests scenarios that show more sustainable development and thus better inform policies. “If you are planning a two-metre high dike in The Netherlands, for example, I can run through the data in my digital twin and check whether the dike will in all likelihood still protect against expected extreme events in 2050,” says Peter Bauer, deputy director for Research at the European Centre for Medium-Range Weather Forecasts (ECMWF) and co-initiator of Destination Earth. The digital twin will also be used for strategic planning of fresh water and food supplies or wind farms and solar plants.”
This is the kind of thing that simultaneously fills me with hope and fear. On the one hand, such a great idea; on the other, if we get the model wrong, it could make things worse…
🤑 Why an Animated Flying Cat With a Pop-Tart Body Sold for Almost $600,000 — “The sale was a new high point in a fast-growing market for ownership rights to digital art, ephemera and media called NFTs, or “nonfungible tokens.” The buyers are usually not acquiring copyrights, trademarks or even the sole ownership of whatever it is they purchase. They’re buying bragging rights and the knowledge that their copy is the “authentic” one.”
I’ve got a blog post percolating in my mind at the moment about digital reserve currencies, NFTs and deepfakes. There’s something here about an emerging hyper-capitalist dystopia, for sure.