Any firm that approaches $1T in value has tapped into a basic human instinct. Consuming, signalling, loving, and praying have been the fuel of Amazon, Apple, Facebook, and Google’s ascents, respectively. That the crypto asset class universe has reached $2T reveals, I believe, that it taps into two attributes we instinctively pursue: trust and scarcity.

Source: No Mercy / No Malice – Scott Galloway

Date: April 12th, 2021

Link: https://www.profgalloway.com/scarcity-cred/

Discussion

1. Is Professor Galloway (Marketing, NYU) correct when he says ” Consuming, signalling, loving, and praying have been the fuel of Amazon, Apple, Facebook, and Google’s ascents, respectively “?
2. ” Attaching an NFT to a digital artwork gives the NFT owner discretion to designate any digital copy of that artwork as the sole authentic copy at any point in time.  ” An NFT is a non-fungible token, a digital thing put on a blockchain that shows that there is only one of this digital thing, and who the owner is (something called “provenance”). What sorts of things could have NFTs?