In the Middle Ages, due to high illiteracy rates, paintings often served as the main medium of communication. Today, media communicates through monitor screens and their pixels. Pixels are rectangular dots created by hardware that combine to form text or images. Currently, the pixel is the smallest unit of media communication. Cryptopunks, NFTs created by Canadian software developers Matt Hall and John Watkinson in 2017, are images composed of rough-resolution pixels. Although their value has increased due to their historical significance, ‘Cryptopunk #7523’ from the series was sold for $11,754,000 at Sotheby’s auction on June 10, 2021, because it conveyed rarity and history through its rough pixelation. This NFT, which utilizes square pixels as a tool, conveys a similar concept to Lego blocks, which are meant to be constructed with blocks. In media, messages are created, distributed, and valued based on the nature of the expression tool. The tool is the message. - Joseph’s “just my th...
Many people in our society invest in bonds . Perhaps you, reading this article, have invested in bonds at least once and are still investing now. Bank deposits are a form of bonds, just not labeled as ‘bonds.’ When you deposit your money in a bank, the money isn’t considered bank money. Interest is paid because the money isn’t withdrawn immediately. When you withdraw your deposited money, the bank must return the principal plus interest. This is essentially a bond. However, the only reason this differs from bonds as an investment asset is that these bank deposits are not traded on the market. If bank deposits were traded publicly, the interest rate would be evaluated in comparison with other deposits, even if the principal remains unchanged. Valuation reflects opportunity cost . This is the transaction value of bonds . When goods or assets are traded in the market, their value is re-evaluated. The core of value is comparison, and the tool for valuation is opportunity cost. That’s why C...