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What Crypto Enthusiasts Get Wrong About Entertainment

Artists can now make a project without a studio or record label. It doesn’t mean they want to.

Photographer: Angel Garcia/Bloomberg

If you’ve spent any time on the internet this year, chances are you’ve heard about cryptocurrencies, NFTs, the metaverse or web3. Maybe all of the above.

I will spare you another long post explaining what those terms mean, or why they will or won’t change your life. (You can get that from Kevin Roose here.) But after spending a few days at South by Southwest – where crypto enthusiasm was quite strong -- I do want to address a fundamental misconception about how these new ideas will change pop culture.