“Marginalized groups may seek to use NFTs because they have been either excluded from traditional markets or exploited by them. This is understandable, as they want to secure a living and income for themselves. However, the economic models behind blockchain and NFTs do not allow radical change to the exploitative structures of capitalism. On the contrary, they re-reinforce them.
Defenders of blockchain technology argue for its potential benefits: autonomy, decentralization, democratic decision-making, and scarcity-driven value generation. However, it currently depends on unregulated crypto trading, opaque tech platforms, and computation power that is highly costly to the environment. How can we reconcile these different aspects?”