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NFTs May Have Become Society’s Newest Status Symbols


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Status Symbols in the 21st Century

As humans, we have come a long way since we hunted animals with flint spears. However, little has changed concerning the way we perceive status and symbols associated with it.
The only thing that’s the objects we use to connote status.

Every era has had its status symbols. Chanel scarves, Hermés bags, and Givenchy dresses in the Sixties. Classic Porsches and Ferraris in the Nineties. Century-old wines, Renaissance paintings, and first-edition books in the early 2000s.

Lately, though, the influence of technology on status symbols has increased. Products representing the epitome of engineering and design have become status symbols for Millennials and Gen Zers, many of whom could hardly care for a dusty, first-edition book or an old painting.

For instance, instead of classic cars, Lamborghinis and Aston Martins engineered for superior performance have become the new symbols among automotive enthusiasts. And the latest iPhone or AirPods is likely to command more attention at a Millenial/Gen Z party than a Givenchy dress.

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Supercars have replaced classics as head-turners.

How Did NFTs Become Status Symbols?

Once we notice the increasing association of cutting-edge technology with status, the appeal of NFTs becomes apparent. Say what you want about them, but there’s no denying that NFTs are a piece of revolutionary technology.

Ascribing scarcity and uniqueness to digital objects has always been difficult: anyone could make a copy of a digital item—painting, video, meme, GIF—and distribute it. No one could tell the difference between the original and the copycat, which created problems, especially for digital creators.

Disclaimer

The information contained in this post is for general information purposes only. The information with the title NFTs May Have Become Society's Newest Status Symbols was provided by one of our contributing author on TmZ.NG, and while we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.

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