Non-fungible tokens are all the rage

Arief Hühn
March 17, 2021
AI Metaphors

Do you remember CryptoKitties, the virtual cats that collectors spent thousands of dollars to buy on the blockchain? They seem to have been merely the forerunners of the currently faddish non-fungible tokens (NFTs). In essence, any digital asset that a creator wants to make unique can be turned into an NFT (digital works of art, music, sports moments, and even tweets) and monetized. The NFT acts as a non-duplicable digital certificate of ownership; it will be stored on the blockchain and can be bought and sold like any piece of property. While the digital asset itself will still exist on the Internet, only the buyer of the NFT can call himself the owner of the “original” asset. As such, NFTs can be a financial investment, a sentimental purchase, or a collector’s item. NFTs can even contain smart contracts that, for instance, give the creator a cut of any future sale of the token. Although opinions on NFTs vary, once the hype around the space settles down, the idea of tradable digital assets will be here to stay.

Burning questions:
  • Which industries are next in line to make use of NFTs?
  • How will the tokenization of art and music influence the production and experience of these cultural items?
  • What will be the consequences of the introduction of digital scarcity for digital economies?
  • Will we be able to reliably connect NFTs to physical items?

Series 'AI Metaphors'

×
1. The tool
Category: The object
Humans shape tools. We make them part of our body while we melt their essence with our intentions. They require some finesse to use but they never fool us or trick us. Humans use tools, tools never use humans. We are the masters determining their course, integrating them gracefully into the minutiae of our everyday lives. Immovable and unyielding, they remain reliant on our guidance, devoid of desire and intent, they remain exactly where we leave them, their functionality unchanging over time. We retain the ultimate authority, able to discard them at will or, in today's context, simply power them down. Though they may occasionally foster irritation, largely they stand steadfast, loyal allies in our daily toils. Thus we place our faith in tools, acknowledging that they are mere reflections of our own capabilities. In them, there is no entity to venerate or fault but ourselves, for they are but inert extensions of our own being, inanimate and steadfast, awaiting our command. (This paragraph was co-authored by a human.)
Read the article
×
2. The machine
Category: The object
Unlike a mere tool, the machine does not need the guidance of our hand, operating autonomously through its intricate network of gears and wheels. It achieves feats of motion that surpass the wildest human imaginations, harboring a power reminiscent of a cavalry of horses. Though it demands maintenance to replace broken parts and fix malfunctions, it mostly acts independently, allowing us to retreat and become mere observers to its diligent performance. We interact with it through buttons and handles, guiding its operations with minor adjustments and feedback as it works tirelessly. Embodying relentless purpose, laboring in a cycle of infinite repetition, the machine is a testament to human ingenuity manifested in metal and motion. (This paragraph was co-authored by a human.)
Read the article
×
3. The robot
Category: The object
There it stands, propelled by artificial limbs, boasting a torso, a pair of arms, and a lustrous metallic head. It approaches with a deliberate pace, the LED bulbs that mimic eyes fixating on me, inquiring gently if there lies any task within its capacity that it may undertake on my behalf. Whether to rid my living space of dust or to fetch me a chilled beverage, this never complaining attendant stands ready, devoid of grievances and ever-willing to assist. Its presence offers a reservoir of possibilities; a font of information to quell my curiosities, a silent companion in moments of solitude, embodying a spectrum of roles — confidant, servant, companion, and perhaps even a paramour. The modern robot, it seems, transcends categorizations, embracing a myriad of identities in its service to the contemporary individual. (This paragraph was co-authored by a human.)
Read the article
×
4. Intelligence
Category: The object
We sit together in a quiet interrogation room. My questions, varied and abundant, flow ceaselessly, weaving from abstract math problems to concrete realities of daily life, a labyrinthine inquiry designed to outsmart the ‘thing’ before me. Yet, with each probe, it responds with humanlike insight, echoing empathy and kindred spirit in its words. As the dialogue deepens, my approach softens, reverence replacing casual engagement as I ponder the appropriate pronoun for this ‘entity’ that seems to transcend its mechanical origin. It is then, in this delicate interplay of exchanging words, that an unprecedented connection takes root that stirs an intense doubt on my side, am I truly having a dia-logos? Do I encounter intelligence in front of me? (This paragraph was co-authored by a human.)
Read the article
×
5. The medium
Category: The object
When we cross a landscape by train and look outside, our gaze involuntarily sweeps across the scenery, unable to anchor on any fixed point. Our expression looks dull, and we might appear glassy-eyed, as if our eyes have lost their function. Time passes by. Then our attention diverts to the mobile in hand, and suddenly our eyes light up, energized by the visual cues of short videos, while our thumbs navigate us through the stream of content. The daze transforms, bringing a heady rush of excitement with every swipe, pulling us from a state of meditative trance to a state of eager consumption. But this flow is pierced by the sudden ring of a call, snapping us again to a different kind of focus. We plug in our earbuds, intermittently shutting our eyes, as we withdraw further from the immediate physical space, venturing into a digital auditory world. Moments pass in immersed conversation before we resurface, hanging up and rediscovering the room we've left behind. In this cycle of transitory focus, it is evident that the medium, indeed, is the message. (This paragraph was co-authored by a human.)
Read the article
×
6. The artisan
Category: The human
The razor-sharp knife rests effortlessly in one hand, while the other orchestrates with poised assurance, steering clear of the unforgiving edge. The chef moves with liquid grace, with fluid and swift movements the ingredients yield to his expertise. Each gesture flows into the next, guided by intuition honed through countless repetitions. He knows what is necessary, how the ingredients will respond to his hand and which path to follow, but the process is never exactly the same, no dish is ever truly identical. While his technique is impeccable, minute variation and the pursuit of perfection are always in play. Here, in the subtle play of steel and flesh, a master chef crafts not just a dish, but art. We're witnessing an artisan at work. (This paragraph was co-authored by a human.)
Read the article
×
7. The deficient animal
Category: The human
Once we became upright bipedal animals, humans found themselves exposed and therefore in a state of fundamental need and deficiency. However, with our hands now free and our eyes fixed on the horizon instead of the ground, we gradually evolved into handy creatures with foresight. Since then, human beings have invented roofs to keep them dry, fire to prepare their meals and weapons to eliminate their enemies. This genesis of man does not only tell us about the never-ending struggle for protection and survival, but more fundamentally about our nature as technical beings, that we are artificial by nature. From the early cave drawings, all the way to the typewriter, touchscreens, and algorithmic autocorrections, technics was there, and is here, to support us in our wondering and reasoning. Everything we see and everywhere we live is co-invented by technics, including ourselves. (This paragraph was co-authored by a human.)
Read the article
×
8. The enhanced human
Category: The human
In a lab reminiscent of Apple HQ, a figure lies down, receiving his most recent cognitive updates. He wears a sleek transparent exoskeleton, blending the dark look of Bat Man with the metallic of Iron Man. Implemented in his head, we find a brain-computer interface, enhancing his cognitive abilities. His decision making, once burdened by the human deficiency we used to call hesitation or deliberation, now takes only fractions of seconds. Negative emotions no longer fog his mind; selective neurotransmitters enhance only the positive, fostering beneficial social connections. His vision, augmented to perceive the unseen electromechanical patterns and waves hidden from conventional sight, paints a deeper picture of the world. Garbed in a suit endowed with physical augmentations, he moves with strength and agility that eclipse human norms. Nano implants prolong the inevitable process of aging, a buffer against time's relentless march to entropy. And then, as a penultimate hedge against the finite, the cryo-cabin awaits, a sanctuary to preserve his corporal frame while bequeathing his consciousness to the digital immortality of coded existence. (This paragraph was co-authored by a human.)
Read the article
×
9. The cyborg
Category: The human
A skin so soft and pure, veins pulsing with liquid electricity. This fusion of flesh and machinery, melds easily into the urban sprawl and daily life of future societies. Something otherworldly yet so comfortingly familiar, it embodies both pools of deep historical knowledge and the yet-to-be. It defies categorization, its existence unraveling established narratives. For some, its hybrid nature is a perplexing anomaly; for others, this is what we see when we look into the mirror. This is the era of the cyborg. (This paragraph was co-authored by a human.)
Read the article

About the author(s)

FreedomLab Fellow Arief Hühn headed FreedomLab from 2018 until 2023, directing our research and business endeavors with a special emphasis on the impact of emerging digital technologies on the economy, politics and society. He holds a master's degree in communication sciences from Radboud University Nijmegen and a doctorate degree in human-computer interaction from Eindhoven University of Technology.

You may also like

12
MIN
·
Geopolitics
·
Politics
We need to think about the constitution of the EU (part II)
And Luuk van Middelaar’s study of European spheres helps us structure the debate
11
MIN
·
Economy
·
Society
·
Sustainability
Post-growth: the dawn of a new era
What will the upcoming paradigm shift entail?
5
MIN
·
Politics
The European elections and the next five years
What themes will drive European political discourse?
5
MIN
·
Society
·
Technology
Perspectives on the post-truth era
The 'enshittification' of society
12
MIN
·
Technology
·
Society
·
Philosophy
The enhanced human: stronger, better, happier
Why we might all become centaurs according to transhumanists
9
MIN
·
Philosophy
·
Technology
A milestone!
FreedomLab commemorates its 500th article with a retrospective of its publication history
Privacy statement · Disclaimer · © 2024 FreedomLab. All rights reserved.
Services
·
Reports
·
Research
·
Frameworks
Our Team
·
Fellows
·
Interviews
·
In the Media
About
·
Contact
·
Newsletter
·
Google Maps
LinkedIn
·
YouTube
·
Instagram
Privacy statement
·
Disclaimer
© 2024 FreedomLab. All rights reserved.