Neranja
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Your first assumption is already wrong: The target audience is not nerds. That would imply being at least familiar with technology, especially the technology behind distributed ledgersl cryptographic primitives, or at least basic math. Harsh reality is that even the ones building the scams have no real idea how the stuff works.It's a bunch of nerds with more money than they know what to do with buying non-existent things because they are LARPing that Ready Player One is going to be a reality one day and they're trying to min/max their way to supremacy there ahead of time because they haven't done it IRL?
Almost all the assumptions about Blockchain, NFT and web3 are completely wrong.
Example: "Hey, it's totally decentralized, so the government can't seize stuff." Well, no:

HMRC seizes NFT for first time in £1.4m fraud case
The tax authority says it is the first UK law enforcement body to seize a Non-Fungible Token.


Two Arrested for Alleged Conspiracy to Launder $4.5 Billion in Stolen Cryptocurrency
Two individuals were arrested this morning in Manhattan for an alleged conspiracy to launder cryptocurrency that was stolen during the 2016 hack of Bitfinex, a virtual currency exchange, presently valued at approximately $4.5 billion. Thus far, law enforcement has seized over $3.6 billion in...
Even the ones writing the underlying software look like they don't have an idea how this stuff works, and just look like bullshitting:
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