The return of scarcity. One of the defining features of digital media has been limitless supply. Media has long been premised on scarcity -- look at the Upfronts -- in order to drive higher pricing. Take the Bored Ape Yacht Club. Yes, it’s strange to see adults spend tons of money on cartoon primates. But what BAYC points to with its NFTs is that i... See more
What’s groundbreaking about crypto is that it shifts the web from social currency to economic currency. When I like your Instagram post today, I grant you some social capital; what’s the equivalent for the cryptomedia age? Me “liking” your content may mean me financially investing in your success and sharing in future income. Maybe Spotify’s Year i... See more
In this new paradigm, everyone is a creator, and everyone is an owner. In addition to her work at Variant, Li is also a painter and an accomplished writer on Substack.