The Net Society crew dives into the limits of economic theory, kicking things off with a sharp critique of rational market assumptions and the myth of the economist as a neutral observer. From there, they explore the shifting role of the U.S. dollar, imagining a world of FX swaps and decentralized monetary systems. The conversation pivots to big news in NFTs as Yuga Labs transfers CryptoPunks IP to Node Foundation, sparking a broader discussion on cultural stewardship, scarcity, and the future of digital art. Celebrity conviction enters the chat as Jay-Z’s punk loyalty leads to speculation on long-term holders. The gang explores value across enduring, ephemeral, and emergent networked economies, from meme tokens to programmable incentives. They unpack the Grok system prompt leak and question transparency and control in AI systems before closing with a deep dive on Bittensor, where incentive design becomes a new frontier for organizing intelligence.

Mentioned in the episode

NODE acquires CryptoPunks https://x.com/nodefnd/status/1922291376533995555

JayZ still has CryptoPunk pfp https://x.com/sc

Grok system prompt hack https://x.com/xai/status/1923183620606619649

Believe Token Launch https://www.coingecko.com/learn/what-is-believe-token-launchpad

Blackbird rewards program https://x.com/blackbird_xyz/status/1909600973510652119

Bittensor TAO https://x.com/bittensor_

Show & Hosts

Net Society: https://x.com/net__society

Derek Edwards: https://x.com/derekedws

Chris F: https://x.com/ChrisF_0x

Priyanka Desai: https://x.com/pridesai

Aaron Wright: https://x.com/awrigh01

Production & Marketing

Editor: https://x.com/0xFnkl

Social: https://x.com/v_kirra

• (00:00) - The Economics Roast