The dream of collectivism can be buried by megawealth in 30 seconds or less, a lesson learned for the WTF-are-you-kidding-me price of two-way gas fees.
I joined PartyBid (a PartyDAO production) to bid on Matthew Ball’s Original Metaverse Essay NFT, listed on the FWB Gallery.
Collective ownership of Ball's foundational essay seemed completely right for this time and place. More significant, however, was the influence that ownership confers:
Contributors will receive tokens proportional to the amount of your ETH used in the winning bid. If the party loses the bid, or not all of your ETH is used to win the NFT, you will be able to claim the remaining unused funds from your bid.
Predictably, however, a whale swallowed us whole (I get that this isn't a thing in nature) for 100 ETH.
As long as money is involved, money will win. The promised trickle-down economy predictably became the gush-the-fuck-upward economy, ensuring a gaggle of fresh and generational billionaires.
What did I learn? That it feels fantastic to be a part of a collective striving for a goal, and that’s why many of us are in the Web3 arena at this particularly pivotal moment in human history. That you have to pay gas to reclaim your ETH after losing, a familiar pattern of financially punishing the masses for not coming out on top. And .. this is the most important thing … that I’m confident that our global Web3 community, as a whole, can work to close some of the gaping loopholes enjoyed by megawealth at the expense of nearly everyone else. The pull towards meritocracy and collectivism is a valid survival instinct.
No regrets. It’s a wild ride, it’s going to be a wild ride. That’s why we’re here.
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