For those who are involved in conversations with music professionals, surely you’ve heard about barriers or excuses that seem too similar (“my artists are not ready for this”, “NFTs are bad for the environment”…).

Today, I’ll dive into other tech advancements in history and how audiences reacted, and why I think the pattern repeats with NFTs.

TL;DR

• People are generally scared of what they don’t understand

• The music industry loves to use the environmental narrative to criticise NFTs

• When new tech appears to resolve a problem, that same technology becomes obsolete over time

• “He that complies against his will, is of his own opinion still” - let’s engage with those who already understand the value of web3.

Did you know that before the opening of the first major railway line in the UK, citizens believed it would be impossible to breathe while travelling at such a velocity, or that the passengers’ eyes would be damaged by having to adjust to the motion.

Or that the world feared the internet was going to crash on New Year’s Eve of 1999 and the new millennium would be the end of civilisation?

There are so many similar events in history. And I’m convinced reactions like this will continue.

Look at the case of NFTs. The music industry has made one of it’s leading narratives that NFTs are bad for the environment.

No matter how hard I (and other NFT early adopters) try, the negative reaction to something new is inevitable. The best thing one can do, is to offer fact-based information about some of these reactions and encourage everyone to do their own research.

If you got this far in your tech research journey, you may have heard of the four phases of the technological life cycle (note I’m referring to the technology itself, not its adoption curve):

• R&D

• Growth stage

• Maturity

• Inevitable decline

As soon as something starts to become obsolete, something new appears to resolve problems in a more efficient, innovative and optimal way. Web3 tech is in the early stages of this lifecycle and its growth seems unstoppable.

While some big companies in the “old” web2 are trying to transform themselves or upgrade their processes, web3 offers a new blank canvas for the underdog to appear and turn every industry upside down.

This is of course a personal opinion, but the likes of Facebook or Apple were underdogs once upon a time that disrupted markets and giants.

“We have to educate users to learn about web3” and other similar statements are quite common nowadays.

Education is definitely paramount to increase adoption. At the same time, I feel way too many people are making their life’s mission to educate sceptical audiences who do not generally do their own research.

Most criticism of NFTs comes from people who take certain narratives as true (ie environmental effects of NFTs, NFTs being a ponzi scheme…) and never fact checking them. In my honest opinion, all of us who are in web3 early should be paving the way to ensure those that find enlightenment later on can really benefit of this space.

These ideas shouldn’t be taken as definite or advice of any kind. My views are personal and always subject to change if the adequate evidence is presented.

This information is not financial advice and it’s intended for entertainment purposes only.

For those who are involved in conversations with music professionals, surely you’ve heard about barriers or excuses that seem too similar (“my artists are not ready for this”, “NFTs are bad for the environment”…).

Today, I’ll dive into other tech advancements in history and how audiences reacted, and why I think the pattern repeats with NFTs.

TL;DR

• People are generally scared of what they don’t understand

• The music industry loves to use the environmental narrative to criticise NFTs

• When new tech appears to resolve a problem, that same technology becomes obsolete over time

• “He that complies against his will, is of his own opinion still” - let’s engage with those who already understand the value of web3.

Did you know that before the opening of the first major railway line in the UK, citizens believed it would be impossible to breathe while travelling at such a velocity, or that the passengers’ eyes would be damaged by having to adjust to the motion.

Or that the world feared the internet was going to crash on New Year’s Eve of 1999 and the new millennium would be the end of civilisation?

There are so many similar events in history. And I’m convinced reactions like this will continue.

Look at the case of NFTs. The music industry has made one of it’s leading narratives that NFTs are bad for the environment.

No matter how hard I (and other NFT early adopters) try, the negative reaction to something new is inevitable. The best thing one can do, is to offer fact-based information about some of these reactions and encourage everyone to do their own research.

If you got this far in your tech research journey, you may have heard of the four phases of the technological life cycle (note I’m referring to the technology itself, not its adoption curve):

• R&D

• Growth stage

• Maturity

• Inevitable decline

As soon as something starts to become obsolete, something new appears to resolve problems in a more efficient, innovative and optimal way. Web3 tech is in the early stages of this lifecycle and its growth seems unstoppable.

While some big companies in the “old” web2 are trying to transform themselves or upgrade their processes, web3 offers a new blank canvas for the underdog to appear and turn every industry upside down.

This is of course a personal opinion, but the likes of Facebook or Apple were underdogs once upon a time that disrupted markets and giants.

“We have to educate users to learn about web3” and other similar statements are quite common nowadays.

Education is definitely paramount to increase adoption. At the same time, I feel way too many people are making their life’s mission to educate sceptical audiences who do not generally do their own research.

Most criticism of NFTs comes from people who take certain narratives as true (ie environmental effects of NFTs, NFTs being a ponzi scheme…) and never fact checking them. In my honest opinion, all of us who are in web3 early should be paving the way to ensure those that find enlightenment later on can really benefit of this space.

These ideas shouldn’t be taken as definite or advice of any kind. My views are personal and always subject to change if the adequate evidence is presented.

This information is not financial advice and it’s intended for entertainment purposes only.