The common criticism with NFT art is that it's just a JPEG image. So why bother "owning" it when you can just right-click, save as? Who in their right mind would spend thousands, let alone hundreds of thousands on such a thing?
But as I've argued before, this is missing the bigger picture and missing what this new technology has the potential to empower. Take for example, the new Bored & Hungry restaurant that opened up in Long Beach, California this past weekend (with lines down the block).
It is being dubbed the world's first Bored Ape Yacht Club restaurant, and here's the backstory. Andy Nguyen is a successful food entrepreneur in southern California. And last month he spent US$267,000 on Bored Ape #6184 (yes, a JPEG).
After doing this, he
I am in Amsterdam right now for the very first time. And after I took in all the bicycles, the beautifully tilting buildings, and its iconic canals, the first thing that struck me was — get this — the height of its toilet seats.
Now don’t get me wrong, I am a reasonably tall guy. So it’s not that the bowl in my hotel room isn’t comfortable or anything like that. It actually feels quite luxurious. I just know that this thing has got to be taller than your average bowl.
A typical toilet seat height can be anywhere from 15 to 19” when measuring from the floor to the top of the seat. But I think 17-19” is the most typical range. So how much taller is my Dutch bowl?
Sadly, I forgot to pack my tape measure on this trip. So I instead used the tallest book I could find in the room as a measuring stick. It happenend to be the above book by Hollywood photographer Matthew Rolston.
Matthew’s book is 36cm tall and so, by using everything I ever learned in architecture school, I am now fairly confident that my seat is currently sitting at around 21-22” off the ground.
Dutch people are tall. And so too are the bowls, it would seem.
took to Twitter
and asked: "Worst decision I've ever made or best idea of all time?" Of course, he clearly had a new business idea in mind.
Fast forward to today and he now has a pop-up restaurant concept that is branded with his Bored Ape. And because the Bored Ape IP is very permissive, he is perfectly within his rights to do this. He can create whatever business he wants on the shoulders of his NFT, as can others with theirs.
His restaurant is also accepting the new ApeCoin that is part of this NFT community, and if you yourself have a Bored Ape, you qualify for perks like free food. All you have to do is scan your crypto wallet. Digital asset ownership = real-life something.
This to me is just one small example of the kind of new businesses that crypto and other digital assets might unlock. And I am sure that it's the tip of the iceberg.
