What do Santa Clause and Beeple have in common?

There is a difference between lying and “making true”.

Telling your child that Santa Clause exists is not lying. It’s the opposite. You are contributing to a widely accepted idea and perpetuating very real traditions. You are giving the concept of Santa Clause genuine, measurable value. ?

It’s not far off from the nature of the value we assign to NFTs.

FEWOCIOUS' 3,000 NFTs average $8,426.94 USD ?in value because the market agrees they do.

Everydays: The First 5000 Days sold for $69,346,250 USD because the bids kept going up.

Commodities of measurable value based on genuine demand. Value that we have made true.

Then there are lies that are actual lies.

For example, the promise that Web 3.0 will be a decentralized, autonomous, open source, power-to-the-people environment where wealthy financial/tech giants can no longer enslave our associative freedom. That is a lie.

The top 9% of accounts hold 80% of the $41B NFT market.

The top 2% of accounts own 95% of the $800 Billion supply of Bitcoin.

The top 0.1% of Bitcoin miners equates to over 50% of all mining output.

All of the crpytobillionaires are male tech moguls.

As Scott Galloway put it last week – “that’s not a decentralization, it’s just a re-centralization.”

There is a difference between lying and “making true”

Santa Clause gets away with it. Beeple gets away with it. No harm, no foul.

We can make true the value of NFTs, just as we can the meaning of Christmas.

But be careful something isn't too good to ever be made true.

That's the difference between being part of a phenomenon and being caught in a good ol’ fashioned lie.