Viewpoint: The “NFT Retrogression” caused by Ordinals is not a return to idealism

Recently, the “engraving” method of Bitcoin NFT has been moved to Ethereum, attracting a lot of attention. Cryptocurrency researcher Cookie believes that in a decentralized world, it is ironic to use “decentralization” as the narrative of a project. We have already gone too far on the road of “making money”.

Until today, the development of the ETH NFT ecosystem has left us as players feeling helpless about many issues, such as PUA based on whitelist mechanisms, “scientists” who eat up a large portion of the public sale shares, lack of new narratives, and the proliferation of “shiba inu” projects that are tasteless but still have to be invested in due to fund manipulation. However, as a well-tested NFT ecosystem, ETH NFT has also had profound discussions on many issues and has already been answered by the market.

“Immutable” or “fully on-chain storage” seems to be a “technical issue,” but it is actually a “market issue” and a “human” issue. In a decentralized world, it is ironic that we still use “decentralization” as the narrative of the project… We have come too far on the road to “making money,” when can we go back, and do we really want to go back? Just like the “Reject Token Movement” that has been mentioned, if we all firmly say “no” with our actions, the so-called “unfairness” will disappear, but the reality is not so.

In fact, what cannot be shaken by price fluctuations is “consensus.” The word “consensus” has been used so much that it is not about shouting 100x and waiting for someone to take over after we buy it today. It is about forming emotional connections and ideological resonance. Just like when Bitcoin was still very cheap, if you met someone on the street who also believed in Bitcoin, you might both light up and find each other interesting. This is a simple and direct manifestation of “consensus.” If there were no early selfless developers and dreamers, could Bitcoin really stand the test of time? If Bitcoin started to “intervene in the market” when it rose to $1, would it still have a “healthy development” afterwards?


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