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by throwaway_isms 1869 days ago
Back when YC experimented with application through the community, or "Apply YC:", I deployed a YCCoin on Ethereum and applied. Basically decentralized Karma. https://news.ycombinator.com/item?id=15226688

There was one comment "why would I use this?" Rightly or wrongly it seems that is still the question everyone has for NFTs.

At the same time in 2017 I had simultaneously built out redditco.in, igco.in, and facebookco.in. If you follow NFTs you might be familiar with the Tweet NFTs and Jack's first tweet getting a multimillion dollar bid, right as that was occurring I got a cease and desist/trademark infringement letter from FB. In a responsive letter I encouraged FB to allow me to auction Zuckerberg's first FB post as an NFT along side Jack's Tweet and with that I would gladly transfer them the domain names. It sounds dumb at best, tinfoil conspiracy at worst, but that is exactly when the bids on Jack's Tweet and all the media surrounding it stopped, and I never got a reply to my response to the TM infringement letter.

From there the NFT rabbit hole only got deeper as I began receiving quid pro quos, or pay to play requests for invitations to join an "exclusive" NFT marketplace, even getting a retweet from one of the anonymous NFT collectors on Twitter that has spent millions on NFTs as proof the quid pro quo requests were legit. The Twitter account I was using literally had 1 follower, but was being retweeted by an anonymous NFT collector spending millions (I think even bought one of Grimes' NFTs for about $750K).

I will say this for pg's essay, this NFT, and bid...at least pg and company did not create an anonymous or fake persona or personality and pg openly placed the initial bid. However, unless this results in so much backlash no one wants to touch it, my guess is consistent with the entire NFT space, the ultimate bid for this NFT will end up being some anonymous NFT collector with a record of spending millions "collecting" NFTs.