As an innovator, I get it. #Tokenization is NOT hot sauce. Adding it to any business model does not add any intrinsic value.
So what is it?
#Tokenization IS trendy.
#Tokenization IS sexy.
#Tokenization IS what all the cool kids are doing.
But at the end of the day, if there is no intrinsic value…
Wait let me tell you a story.
It reminds me of something I experienced back Freshman year at the illustrious Morehouse College (get your #Morehouse gear at Ralph Lauren FYI #shamelessplug ).
In my dorm room, an excited kid walked in and said,
“I just made $500”
“It was easy”
“I didn’t have to do anything hard”
We all asked, “What did you do?”
“It’s called [insert hairbrain trendy scheme here]”
“everyone is doing it”
“You get four people to give you $100….”
“that’s your team…”
Blah Blah Blah “downline”
Blah Blah Blah “upline”
Blah Blah Blah “cash out”
Blah Blah Blah “then you have to just get four people…”
I’d seen this movie before and I wasn’t giving anything to this foolish experience in trendy cash flow.
But before long all the cool kids were in on it
It felt like the whole campus was abuzz with IT.
IT was a thing. And you know what…
And before long, IT crashed and burned….
People got in trouble….maybe arrested?
….for running a bogus #pyramidscheme…
Either way, make sure you’re not left holding the bag and the biggest loser with now money to show for it…only losses.
Great post as usual Samson Williams
As someone who works with innovation and creatives on a daily basis, I am excited and hopeful about #WEB3. It is promising as a landscape for innovation. It is not free of scammers, fraudsters, and posers eager to take your #IRL cash in exchange for an #NFT or #Metaverse property.
When trendy technology comes along, it’s easy to feel #fomo and jump on the bandwagon. I have a couple of NFTs myself but I didn’t mortgage my future on them. They were gifts. In the metaverse and IRL, sound business principles are universal. Educate yourself.
Learn the market.
Understand the risk.
Take a calculated risk.