gm appreciate all the kind words and thoughtful feedback on this piece 🤝 I know it’s a long read, so here are two grafs that sum it up as a tl;dr “What unwound was not digital art, nor the idea of blockchain-based ownership. It was a specific institutional layer: the venture-backed NFT marketplace, built for exponential growth in a market that proved cyclical, thin, and culturally fragile.” “The lesson is not that NFTs failed. It is that markets built on speculation cannot double as cultural institutions, and that decentralization in theory does not guarantee resilience in practice.” twitter.com/mattmedved/status/...