God Save the Queen (in NFTs)

Well, as we bid farewell to Queen Elizabeth II, let us keep in mind that crazy people techno crypto-enthusiasts are doing their best to keep her alive- virtually alive, anyhow.

As the article states:

Cryptocurrency creators are on the lookout for viral moments to make a quick buck.

And furthermore:

They found it when Will Smith slapped Chris Rock at the Oscars, creating a Will Smith digital currency. And again, when the Netflix show “Squid Game” gained global fame, minting the Squid Game coin.

Now it’s Queen Elizabeth’s turn.

Oh, wow. From awkward moment to (reportedly, for I’ve never seen it) bizarre and violent streaming show to … royalty. Okay, then.

But there’s more:

In the days following the queen’s passing, more than 40 types of meme coins were minted, industry data and media reports show. These virtual forms of currency are often created by anonymous people with access to coin-creating websites — and an idea for a clever name. And they are notorious for wild swings in value.

Sounds like a real secure investment, huh? About as secure as becoming a New York Times bestselling author of a mystery novel (the first of a series of two books, at that time, having since doubled in number), then losing all your sales, downloads, fans, potential readers and money due to someone’s algorithms and the sheer enormity of outright crap that’s being published. Plus, ahem, who’s a gatekeeper now?

But wait … one more thing:

Experts said most of these coins are typically a joke or a scam rather than legitimate forms of payment — or even akin to gambling in the new decentralized world of the internet, known as web3.

“It’s no different from people selling T-shirts outside of Buckingham Palace,” David Hsiao, the chief executive of the crypto magazine Block Journal, said. “This is just the web3 version.”

All together now! 🙂

Shall we have a song? :)

Or two? 🙂

Originally published at http://randomandsundrythings.wordpress.com on September 19, 2022.