NFTE

Purpose:

There are inherent flaws in the freemium economy, the largest being that the UBCS (universal basic credit score) only works for systems that are connected to the CogNet and accept universal basic credit. There are a large number of establishments that do not. It is also a hindrance to things that operate either outside of standard financial transactions, or involve a scale that doesn't fit in with the basic economic models for the vast majority of the population. One of the largest complaints about the UBCS is that there is no way to become wealthy, everything runs on an almost comfort oriented subsistence level of activity.

One of the economic weapons wielded during the Resource Wars were crypto and blockchain currencies. These were used to overwhelm, undermine, or outright destroy national currencies, which in turn trashed national finances and the related financial sectors attached to them. These lessons were initially applied to creating the UBCS so that such economic warfare couldn't destabilize the New Earth Governments.

NFTE combines the technological basis of blockchain cryptocurrencies and the almost laughable notion of the Non-Fungible Token. The Non Fungible Token Exchange combines both aspects to make an economic model from them.

Function:

Everyone on the CogNet, be it a person, a bot, or a corporation, is constantly producing data. This data can be packaged into an NFT, as an item of exchange. This can be as high profile as product offerings, shares in a venture, offered backing, and things on the supply side. It is more commonly the noise that people make: social statuses, shared pictures, videos, experiences, and the like. For most people, the more interaction their NFT generates, the more it's relative value increases. Thus, people who generate content, or share content, tend to their interest in Nifty rise. Unfortunately, that means that hotly contested topics, toxic events, and similar negative interaction also generates a rise in exchange value.

Green Nifty is associated with healthy, positive, and otherwise normal NFT, and is best characterized by animal pictures, feel good stories, inspirational activities, and good artwork and such. Likewise, completely legal business operations generate green nifty, which some people have issue with as that means pornography, drug sales, alcohol sales, and legal weaponry are green, where many people would prefer them red or black instead.

Red Nifty is also known as TrollCoin and is associated with people being assholes, pranks, jumpscare shit, and otherwise being negative online. Shock art, and negative energy art (controversial) also generates red Nifty.

Gold Nifty is associated with crowdfunding and fundraising. It is more difficult to get because it becomes gold through the donation process, and everyone will accept gold.

Yellow Nifty is not generally trusted and not always accepted, and aside from black nifty, it is the least desirable. Yellow nifty comes from hoaxes, false news, propaganda, social misdirection, chain letters, spam, and other sources of noise. The exchange rate for yellow is very unfavorable.

Black Nifty comes from illegal or highly questionable sources, such as hacked data, data theft, stolen and distributed NFTs such as personal nudes, sex tapes, and similar.

Silver Nifty is generated through accumulating and sharing personal biometric data, and has an exchange rate comparable with green.

Difficulties

The largest problem getting NFTE operational was that many sectors that hadn't embraced UBCS had already started working in other mediums of exchange, with the most common being barter or a revival of precious metals. There was also distrust of the format, given it's associations with an old world economic weapon system, and that the concept was outlandish and bizarre, and also old. Once a few personality celebrities signed on, and turned their investments into large amounts of digital currency, and the early investors went from speculators into neuvo riche, people noticed.

Continuing Issues

The biggest and most constant problem facing NFTE as a medium of currency is that it still suffers from volatility and can be quickly unsettled by fads, trends, and most seriously, data breaches. One of the paradoxes of NFTE is that something like a data breach that shares large amounts of personal NFTs like pics, documents, and contact info is that whomever takes control of it has the option to become flash wealthy, and those who had their NFT assets breached could likely see their financial assets crumble.

The most glaring example of the continuing issue of NFTE concerned people who NFT their image, typically in a pornographic manner, and then apply exclusivity. A breach can spread their NFTs, and plunge the value, while the hub distributing it can pocket a ton of cash out options overnight. This also can apply to people who have their personal pictures and vids hacked and leaked. A celebrity who has their nudes NFT'ed can see their stock plummet. Some are forced to change jobs, some can rally, and a rare few go from obscure to famous.

Sample NTFE Offerings

GFM - Initially touted as a crowdfunding source, GFM had the unusual goal of allowing people to pack their personal and financial issues as a sort of emotional entertainment and charity option. People could donate to GFM-NFTE as a tax deduction, allowing for a more social application of social currency. Sad stories, voyeuristic narratives into personal drama, and self-exploitation became financially viable as a option for some people. It did require both a suitable life problem to address, and an willingness and eloquence to share this information in a tasteful manner.

GFM is also known as Pander, and is sometimes shortened to PNDR

MLM - started as friends selling friends foreign made goods for large mark-ups, but creating a social interaction experience, a sort of home shopping in the homes of friends and family members. The appeal of MLM-NFTE is that what started as candles, leggings, and cheap jewelry grew to become an entire second-hand marketplace overnight, where sales range from images and layouts to personal belongings, to even commodity shares inside a specific bracket, such as buys, selling, and trading vehicles that belong to other people when they do the transaction.

CAM - this platform offering inside the NFTE started as a comglomeration of blogging, cam-girling, recipe sharing, and making things like Vines and TikTok videos. The commodity is the persona being shown.

Limitations of NFTE

The largest limitation of NFTE is acceptance. It's useless as a currency unless there are two parties with an interest in it, otherwise it just becomes collecting relatively useless junk. Nations and states interested in more strongly controlling their populations loathe and despise NFTE, as it is based out of the population and interaction with each other, and not something directly controlled and distributed by the government or existing power structure. Populations tend to use systems like this to undermine and destabilize power structures.

The Atlantic Federation, Lunar Free States, almost every offworld power, and the Pacific Rim Coalition are either fully engaging NFTE, or are in the process of picking it up. The ACPS (China and friends), EUdAS, and the SAUR strongly oppose NFTE, and are attempting to destroy the system's credibility, while extracting as much value from it as they can, while simultaneously banning any access to it within their borders.