Gessler and Gonciarz have NFT avatars, which are teddy bears. What is happening?

Magda Gessler, Krzysztof Gonciarz and Malik Montana have attracted Poles’ attention to NFT, and for several days there has been a storm of semi-expert discussion on the Internet full of words that are practically incomprehensible to the average reader. I’m afraid I won’t be able to help you fully understand the whole Inba, but I will try to highlight all the question marks that should be visible to anyone planning to pay at least a few thousand zlotys for an online photo.

  • Krzysztof Gonciarz, Malik Montana and Magda Gessler praised NFT avatars. In the United States, there are similar clubs among others, such as Eminem, Steve Aoki and Jimmy Fallon
  • Membership in an elite club is associated with benefits such as events and exclusive gifts, but buying your own avatar can cost up to several hundred thousand zlotys.
  • Is it worth investing in NFT? Technology is seen as a revolution in the digital world, but there are many question marks on it
  • More similar content can be found on the Onet homepage

In September last year, Krzysztof Gonciarz wrote on his Twitter account: “Yesterday, when I was looking for a cryptocurrency * draw, a friend promised me an apple pie and I didn’t scan it out of respect for the audience and I don’t have any apple pie.” This is a tweet from a group of well-aged people, and now that Gonciarz has joined the Influence Club with toy bears in avatars, viewers won’t hesitate to mention his post from a few months ago.

“This toy bear is my digital version. I’m excited not only to be a part of this club, but also the opportunities NFT technology offers artists. It’s not something I fully understand, but I feel like a revolution is happening. It’s right in front of our eyes.” Magda Gessler, quoted by DDOB portal, wrote about her new avatar on the social network. The second sentence of this statement seems especially important to me, because I have the impression that it miraculously reflects our collective, insignificant knowledge of NFT. It is not wrong or embarrassing to get upset about all the discussions, because cryptocurrencies and tokens are a difficult and complicated subject. However, encouraged by celebrities from all over the world, if you plan to invest at least one zloty in them, I have to ask you a few big questions (my mom would ask all these people suddenly want to jump off a bridge), I ran away with them?).

I once wrote here about what NFTs are, but for the purposes of this text I will simplify it even more. Assume that NFT is a web-based certificate indicating that the file (in this case, a graph) belongs to us. We can keep them indefinitely and try to sell them to other collectors. When we buy some tokens, we get special privileges – some artists send limited physical gadgets to buyers, others agree to transfer ownership of the work (just having a badge is not usually property).

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Currently, limited avatars are gaining popularity, allowing access to club benefits such as parties, gadgets and lotteries after acquiring NFT with a characteristic monkey (Bored Ape Yacht Club) or bear (Fancy Bears Metaverse). This popularity would not be possible without celebrities who decided to join the club – in the case of BAYC, they are, among others, Eminem, Jimmy Fallon, Future and Steve Aoki. The entry of celebrities into the club clearly legitimizes this in the eyes of people who can invest up to several hundred thousand dollars in the form of a monkey. Fancy Bears Metaverse, among others Magda Gessler, Krzysztof Gonciarz and Joanna Jędrzejczyk will be the European response to the Missing Monkey Yacht Club – the creators announce in March 2022 that club members will have a chance to drive a Ferrari. They also plan physical activities in the United States and Europe.

But I have to slow down here, because we have some hard facts that prevent us from writing about NFT enthusiastically.

Dangerous investment

NFT tokens are considered an investment – buyers hope to sell them for a larger amount after a while. In practice, the oil market is saturated with tokens that can be invested but do not necessarily bring income. The market is not properly regulated, so there have been cases of artists being robbed and unaware for some time that someone has created NFT with their work (artist Liam Sharp was forced to close his DeviantArt profile). Having a badge, you should also be able to ensure its safety – a few days ago, one of the collectors wrote on Twitter that 15 NFTs worth more than $ 2 million disappeared from the purse along with the monkeys (tokens were frozen after the intervention and will probably succeed). to return them – ed.). However, investing in digital art requires a lot of knowledge about the market, otherwise you can lose money with a few clicks.

NFT ecology

A very serious objection to NFT is that they are harmful to the environment. According to the Cambridge Alternative Finance Center, the annual electricity consumption of the Bitcoin network is about 128 terawatt hours, which is almost more than used in Ukraine per year (and 20 TV hours more than in Poland). Most NFTs are stored in the Ethereum chain, which is not as harmful as Bitcoin, but still very harmful – the energy needed to complete a transaction can power all devices in a U.S. citizen’s home for about 7 days (see full calculations here)) . The creators of Ethereum have announced that the network will consume up to 99 percent in the future. less energy, but we will not praise it until the change actually happens (the fact is that Kosovo has banned the issuance of cryptocurrencies on its territory due to the energy crisis and the threat of power outages). Of course, carbon-neutral networks are also developing in the market, but this is still an unregulated and non-transparent market, which should be enough of a question mark for people thinking about the fate of the planet.

Mysterious festivities and cars

However, for the purposes of the text, assume that there is no problem of environmental damage to NFT. The elitism of the clubs we spend between a few hundred thousand and a few hundred thousand zlotys can worry us. In addition to a special avatar, in most cases, we invest in celebrities, gadgets, vague promises of great events, and get a chance to win a car in the lottery. A mysterious party with the influencers can be the evening of your life, but it can also be another Fyre Festival and a spectacular suffocation of savings. On the other hand, when someone on the Internet offers us a chance to win a Ferrari, the warning lights that command you to be careful should light up in your head immediately. Of course, I’m not accusing anyone of bad intentions here, but more transparency is required when so much money is involved.

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