> An alternative explanation is that they _are_ the normies who have bought into the techno-grift in exchange for social status in a small community of believers.

I don’t think it’s just a small community. And I say this as a heavy skeptic of cryptocurrency and NFTs.

I think the article’s author has a point. With or without NFTs, conspicuous consumption of digital goods is already a normalized thing of minor social consequence in the form of video game cosmetics. It started out as a freemium monetization model, but games like Fortnite, Destiny, etc. have solidly cemented the link between spending real money and digital self expression, including the implied social status that comes with specific rarer cosmetics vs. more accessible ones. And to some extent the social status part follows you back into the real world if you all know each other in person.

I don’t think it’s a large leap to a scenario where people pay for designer avatars to bring into digital spaces if online, immersive socialization in some grand unified space becomes a thing. I don’t like that idea, but I think it’s not that much of a stretch.