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1 Year in NFTs: Attention

696 reflects on 1 year in NFTs. Continuing with today's reflection on Attention

Attention is a valuable resource. I think of it as one's inner resource too. Usually I would notice it in relational situations and where one's attention is, as well as what piece of it and how much is left to be in the present moment. I also notice it in myself and where different parts of me drive it through my body and mind. Usually, lots of attention is driven through the sensory organs, which is why there are some meditations and practices that target that. When you experience the difference, you become aware of more options. Hopefully, with time, one is able to notice shifts happening in real time or before their attention shifts, thus creating a possibility of choices for one to choose from.

There's nothing wrong with scrolling through social media, watching stooopid but fun videos, and all of the things in that vein. It can feel really good in the moment too, sometimes not so good, but, most importantly, not fulfilling in the long term.

How the heck does it tie to crypto?

Well, you know how we have cycles. Some of the assets' prices are driven by attention. No one cares that it's not even a meme coin with no utility. But meme coins do better. The same even happened in Tradfi markets with Gamestop's stock a few years ago. It certainly has been more clear with NFTs as they go through the same cycles. Okay, so attention plays a part, but it can't be the sole reason, right?!

Sure! But in the short term, it plays a huge role, thus overshadowing the fundamentals. You can see it with different cryptocurrencies, different NFTs, different communities, and so on and so on.

Now, in terms of personal attention, people are utilizing tools to attract that too since you can monetize your content in some ways. I've been observing and notice that it leads to many folks just spitballing inaccurate information, clickbaity stuff, so to speak. And there's so much focus on providing value, I guess that's the 'ethical' way of farming attention. Maybe it's a little bit better than just engagement farming without putting any thought into things. Additionally, all the attention hits their brains good with some dopamine too! What's not to like about that?! And it can create a loop too. You produce some engagement farming content; it gets your attention and rewards you, thus making you want to produce more of the same. But it can also crumble back down the same way since it's not built on any foundations. But at the end of the day, if you are entering that loop and trying to play that game - you are probably not even aware that you are not actually in control and that you are just another piece of that puzzle that's stuck in that closed, stuck loop. And this type of attention is definitely different from the type of attention that I mentioned at the beginning of the article. Honestly, I digress, folks.

This whole topic makes me think about value, one's own values, legitimacy, and trust. Maybe after going through those, we'll loop back to attention again. For now, though, please be mindful of where and how you spend your attention, you don't have to change anything but be aware. At the end of the day, your attention is a valuable resource. You only have so much time, and where you put your attention can define the quality of your time.

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