Crypto’s influence was cultural rather than practical or technological

Evidence

“So many smart people,” Bloomberg journalist Zeke Faux reflected, “had spent so many thousands of hours working on crypto—and yet shockingly little of use had come of it.” Crypto’s promises of a transformative Web 3.0 never materialized. Yet, for a time, it stood as a true cultural phenomenon, rivaling music, film, and fashion in its influence. The crypto lifestyle found a transgressive energy in raw finance that rivaled art and culture, for which it received an exuberant “LFG” from a giant swath of youth. — W. David Marx, Blank Space, 742

Categorization

• SEED: Essay angle: ‘financialism as the last counterculture’ — how raw finance absorbed the transgressive energy that art and music used to carry.
• XREF: connects to: Crypto’s libertarian faction captured it and issued their own fiat currency — Yanis Varoufakis, Technofeudalism: What Killed Capitalism, 686