Sorry for extensive quote but this is fricken awesome.

"Bitcoin failed as a currency because the people who got most invested in it do not care about currency — it could be bottled dragon farts for all they care, except that putting it on the computer means there’s no need to actually worry about a product. It’s just something to pump the value of; the underlying asset could be, well, Whatever. And Bitcoin itself is open source, so you can copy it and make your very own coin, your very own Whatever. With NFTs, you can make an entire family of “collectible” Whatevers — a strange descriptor given that you can’t actually collect one of each of them, but who really cares if the description makes sense? It doesn’t matter what the art is, or how the technology works, or what the tokens are attached to. It just has to be something you can convince other people to buy. The actual thing can be Whatever.

I think this adequately explains why the proliferation of these guys helped suck all the air out of Twitter. Tens of thousands of grifters lining every sidewalk, each one passionately hawking an indistinguishable Whatever that they don’t actually care about. Endless, endless fake enthusiasm from people all trying to convince each other to buy into their boilerplate box of nothing. Buy my thing! Haha no don’t worry about how much of it I own — let’s talk about how much of it you should own! Hint: it’s a lot!

Kind of a bummer."