Line Goes Up - The Problem with NFTs is a documentary video essay released January 21, 2022 by Canadian creator Dan Olson on his YouTube channel Folding Ideas, and is his most-viewed work with more than eighteen million views. It traces the history of cryptocurrency from the 2008 financial crisis through Bitcoin and Ethereum before examining non-fungible tokens, blockchain gaming and play-to-earn schemes such as Axie Infinity and decentralized autonomous organizations, arguing that Web3 functions largely as a turf war among early investors using multi-level-marketing tactics to promise ordinary people wealth. The video trended widely, drew coverage from NPR, The Verge and The New York Times, and was cited in the 2022 Sight and Sound video essay poll.
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