Logan Paul’s NFT Fail

Back in August, Logan Paul tweeted that he’d just paid $623,000 for an NFT.

Apparently it’s now worth only about $4000, a loss of more than 99% 📉

Speaking of NFTs, Packy McCormick makes a strong case for why we should view them as a new and improved kind of social network…

NFTs are part of the Great Online Game, and as such, the rules and opportunities are always evolving and expanding. Powerful things happen when you combine money, status, and community.

As always, I’m the first to admit that all of this sounds crazy. NFTs feel more like a fad than like a new form of social network. But thankfully Eugene Wei gave us a framework for evaluating the strength of social networks, and NFTs do shockingly well against it.