- A recently released ‘The Simpsons’ episode referenced NFTs and their overhype.
- The episode pointed out that 99% of NFTs created have no current value.
- NFT value will significantly decrease once the “FOMO” subsides, according to the episode.
The American animated sitcom The Simpsons recently released a Halloween special episode that made several references to Non-Fungible-Tokens (NFTs) and their overhype.
The episode, which was released on November 5, claimed that NFTs run on a “fomo-meter”, a fear of missing out, and mentioned that 99% of the NFTs ever created currently have no value. In the episode, one of the characters is battling through the blockchain to rescue her son, who has turned into a living NFT.
“Remember how we were always saying we wished Bart was less fungible?” After putting his son on the blockchain, Homer, Bart’s father, asks his wife, Marge. Homer stated that NFTs don’t have a purpose. When Marge said that her son is now a mobile application, Homer said, “No, apps actually do stuff; he’s an NFT.”
The NFT market was split into three parts in the episode; in the lowest class were PFP NFTs, which stands for picture-for-profile NFTs. They are exclusive digital images designed to be showcased as the owner’s personal profile picture on social media. CryptoKitties were in a higher class, then digital art was at the top, according to Noah Bolanowski, an art collector and a visual artist advisor
Bolanowski stated that the episode had “an incredible art emphasis,” as the show portrayed PFPs as the bottom of the barrel, whereas art was positioned at a level of prestige. NFTs such as Bored Ape Yacht Club, NyanCat, and CryptoKitties were featured in the episode.
The episode claimed that the “NFT craze” is behind the NFT’s value and predicted that once the “FOMO” is gone, the value will decrease dramatically. After Homer turned himself into an NFT, his daughter said, “He was so afraid of missing out, he tokened his own life.” While Homer’s value was $100,000,000, his value decreased to $0.05 once the “NFT craze was over.” By comparing the NFT market at its peak, which was January 2022, and July 2023, the trading volume has dropped by over 81%.
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