Chapter 4
Fashion in the Digital Age: When Clothing Becomes Code
Blockchain ownership through NFTs is revolutionizing fashion applications within the Metaverse, creating an entirely new paradigm for self-expression and digital identity. With fashion being a $3 trillion industry and Generation Z showing unprecedented interest in digital expression, metaverse clothing has emerged as one of Web3's most dynamic and lucrative sectors. Major luxury brands like Dolce & Gabbana, Ralph Lauren, Gucci, and Balenciaga are aggressively entering this space, hosting elaborate virtual fashion shows and creating exclusive digital wearables for platforms like Decentraland, Fortnite, and Roblox. Some digital fashion pieces have sold for hundreds of thousands of dollars, demonstrating the market's potential.
Hundreds presents a compelling critique of current digital fashion's conservative approach, questioning why designers continue to replicate physical clothing constraints in a medium that offers unlimited creative possibilities. He envisions metaverse fashion as a revolutionary force that should be conceived digitally first, then influence physical fashion - similar to how Instagram filters have fundamentally transformed real-world makeup application and beauty standards. With people spending an average of 40 hours weekly online, particularly younger generations, the internet has evolved from a secondary space to our "primary life," demanding fashion that authentically reflects this digital-first existence.
Drawing on Roland Barthes' seminal work in fashion theory, Hundreds makes a crucial distinction between the sociology of fashion (the physical garments and their practical functions) and semiology (fashion as a system of meanings and signals). In the Metaverse, fashion transcends physical limitations like gravity, weather, or material costs, allowing it to focus purely on emotional resonance and identity expression. Profile-picture NFTs have emerged as powerful fashion statements, functioning as digital tribal markers that signal affiliations, values, and cultural capital within Web3 communities. Collections like CryptoPunks and Bored Apes have become the digital equivalent of luxury brands, with ownership conveying status and belonging.
What's particularly groundbreaking is Hundreds' argument that NFTs themselves constitute fashion - not just as virtual clothing for avatars, but as the ultimate vehicle of self-expression where the clothing becomes inseparable from the digital identity. This reframing helps explain the seemingly irrational behavior of people paying substantial sums for digital images that anyone can view - they're not purchasing mere images but investing in social signals, community membership, and digital identity markers. Just as traditional fashion uses fabric and design to communicate status and belonging, NFTs use blockchain verification and scarcity to achieve similar social functions in the digital realm. This transformation suggests a future where the boundaries between physical and digital fashion become increasingly blurred, creating new opportunities for creativity, commerce, and identity expression in the metaverse era.
Chapter 5
When Streetwear Meets Web3: Cultural Parallels
Having spent decades immersed in streetwear culture, Bobby Hundreds draws extensive parallels between NFTs and streetwear, noting that NFTs seem to have borrowed many core mechanics from the streetwear world. From limited drops to artificial scarcity, from community building to resale dynamics, the similarities are striking. He observes that while streetwear had nearly two decades to build cultural foundations before reselling dominated the narrative, NFTs immediately attracted profit-focused newcomers who often overlooked the community aspects.
The essay warns that NFTs must prioritize culture and community over transactions to survive long-term, just as streetwear did through forums like NikeTalk, Hypebeast, and Superfuture where collectors bonded over shared interests beyond mere trading. These communities fostered deep connections through meet-ups, trading knowledge, and sharing stories about their collections. Similarly, successful NFT projects like Bored Ape Yacht Club have created strong communities through Discord channels, exclusive events, and collaborative decision-making.
He identifies key differences too - NFT cycles move much faster than fashion trends, with projects rising and falling within weeks rather than seasons. The cartoon aesthetic dominating NFTs mirrors early 2000s streetwear with its bold graphics and character-based designs, which eventually evolved toward minimalism and sophisticated design language. This suggests NFTs may follow a similar maturation path.
The comparison offers valuable context for understanding NFTs not as an isolated phenomenon but as part of a continuum of cultural movements centered around scarcity, community, and identity. Just as streetwear evolved from underground t-shirt brands to luxury fashion collaborations, NFTs are showing signs of mainstream adoption and artistic evolution. Hundreds predicts NFT visuals will evolve beyond the current "Adjective Animal" profile pictures toward more sophisticated artistic expressions, noting photography NFTs from established artists and emerging platforms like Foundation as examples of this shift already beginning.
What makes this analysis particularly compelling is that it comes from someone who has witnessed firsthand how cultural movements evolve, commercialize, and either fade away or transform into something enduring. The streetwear comparison provides a roadmap for understanding NFTs' potential trajectory beyond the hype cycle, suggesting that projects focusing on authentic community building and artistic innovation are more likely to survive market fluctuations. The parallel also hints at potential pitfalls, such as over-commercialization and loss of core community values, that NFT projects should be mindful of as they grow.
The evolution of both movements demonstrates how digital and physical cultures increasingly intersect and influence each other, with lessons from traditional community building applying to virtual spaces and vice versa. This convergence suggests that successful NFT projects will likely be those that bridge digital ownership with real-world utility and community engagement, much as streetwear brands expanded beyond clothing to lifestyle and cultural touchstones.
Chapter 6
The Spiritual Dimension: NFTs as Modern Religion
In one of the book's most thought-provoking sections, Hundreds examines how NFTs emerged during a pivotal cultural moment-as Trump left office and Americans sought new distractions from political polarization. The meme-stock revolution, led by communities like WallStreetBets, and eventually NFTs provided the perfect combination of money-making opportunity, identity, and community that Americans craved. This timing wasn't coincidental - the intersection of pandemic isolation, political upheaval, and technological advancement created fertile ground for a new form of digital tribalism.
The NFT movement created intense bonds among participants who felt they shared an exciting secret while facing ridicule from outsiders. Communities formed around specific collections like CryptoPunks and Bored Apes, developing their own languages, rituals, and shared beliefs. Though Hundreds jokingly called his NFT discussion groups "NFTAnon," he distinguishes NFTs from cults by noting they lack central leadership and instead embrace decentralization-making them more akin to religions than cults. The Discord servers and Twitter spaces became digital churches where believers gathered to share prophecies about upcoming drops and celebrate their shared convictions.
Despite declining traditional religious participation in America, Hundreds observes that people became more spiritually searching during the pandemic. Virtual communities filled the void left by closed churches and social isolation. He suggests that NFTs filled a void for those feeling politically alienated and uncertain about many aspects of modern life, creating a new form of community with shared beliefs. The "WAGMI" (We're All Gonna Make It) mantra became a statement of faith, while "diamond hands" represented unwavering conviction in the face of market volatility.
Drawing on his Baptist upbringing, Hundreds reflects on how pastors warned about postmodernism threatening absolute truth. While initially questioning Christianity's exclusive claim to truth during the diverse 1990s, he now sees problems with extreme relativism-from pandemic misinformation to fake products flooding markets. He draws a parallel between blockchain technology and religious concepts of absolute truth. Satoshi Nakamoto's blockchain creates an objective, immutable record that everyone can verify-similar to how religions describe God as unchanging truth. The concept of "smart contracts" on the blockchain serves as a digital covenant between parties, much like religious texts outline agreements between divine and human.
This spiritual framing helps explain the fervor around NFTs that often puzzles outsiders. It's not just about technology or money-it's about belonging to something larger than oneself in an increasingly fragmented world. The ritualistic aspects of NFT collecting - the midnight drops, the collaborative art projects, the shared mythology around certain collections - mirror religious practices. Even the language of "believing in the project" and having "faith in the founders" echoes religious devotion. The NFT community's creation of new status symbols and social hierarchies parallels how traditional religions have historically structured society, offering both belonging and distinction to their adherents.
Chapter 7
The Hardest Year: When Community Becomes Both Blessing and Burden
In August 2021, The Hundreds launched Adam Bomb Squad-25,000 digital collectibles featuring their bomb characters. What followed was one of the most challenging periods for their business, but ultimately delivered invaluable lessons.
Unlike most NFT projects completed in months, Adam Bomb Squad took an entire year of meticulous development with intentional storytelling, gamification, and hand-crafted designs rather than algorithmic generation. When revealing the NFTs, the team made the controversial decision to publish them without metadata or rarity traits, forcing collectors to appreciate the art itself rather than just its statistical value.
The day after launch, a colleague told Hundreds, "Everybody thinks that launching the NFT project is when the work ends. But that's where the work begins!" Managing a community of 8,500 unique wallet holders meant dealing with 8,500 different opinions and expectations. Simple promises like free T-shirts became logistical nightmares. While most community members remained quiet or content, vocal critics constantly complained about floor prices not rising enough compared to blue-chip collections.
By the time Adam Bomb Squad launched, NFT collections were suddenly expected to provide utility beyond just art. Fortunately, The Hundreds' established business offered many benefits: free food at their festival, Xbox giveaways, store discounts, collaborative rugs, and allowlist spots for hot NFT projects.
The author lost seventeen pounds in the month after launch, becoming "a zombie in the days and a vampire in the evenings" while being on-call 24/7 for the community. They felt personally responsible for maintaining floor prices and delivering endless utility. When scammers duped their community, they paid $100,000 out of pocket to make everyone whole. By year's end, they were seeing a therapist twice weekly for stress, depression, and anxiety.
This candid account of the toll NFT community management took on Hundreds' mental health offers a sobering counterpoint to get-rich-quick narratives. Building an NFT collection felt like "building a company in reverse"-collecting money upfront then spending years proving worth to customers. The fundamental problem: most NFTs weren't designed as investments, yet communities expected founders to perform like established corporations.
What ultimately saved Hundreds was reframing his view of holders as helpers rather than burdens. Instead of grumblers, the community greeted him warmly and asked how they could help. They organized beach bonfires, volunteered design ideas, and formed social clubs. "Eight thousand five hundred is a lot of mouths to feed, but if harmonized in unison, 8,500 mouths can sing songs of revolution."
Chapter 8
The Future of Digital Ownership: Beyond the JPEG
On November 7, 2022, The Hundreds launched their second NFT collection, Badam Bomb Squad, despite a bear market and the FTX scandal. While many questioned this move during a market downturn, Hundreds believed "the only thing that could save NFTs was more NFTs."
He explains how the traditional NFT model-where creators profit from initial minting and ongoing royalties from secondary sales-limits growth compared to established collectible markets. Using examples like Supreme's continuous drops, Pokemon's nearly hundred card editions, and Nike's yearly Air Jordan releases, he argues that successful collectible markets thrive through regular new offerings rather than single limited collections.
With NFT marketplaces increasingly abandoning creator royalties, Hundreds proposes that continuous minting could replace lost royalty revenue while building stronger brand narratives. He emphasizes that nostalgia-a critical ingredient in valuable collectibles-takes time to develop, requiring authentic growth and cultural investment rather than get-rich-quick schemes.
Days after completing the previous chapter, Hundreds' concerns about the end of creator royalties began materializing. While at Disneyland with NFT artists, he receives an urgent message from OpenSea, the largest NFT marketplace, foreshadowing significant news. OpenSea announces plans to make royalties optional for existing NFT collections, threatening the fundamental economic model that attracted creators to Web3.
Hundreds mobilizes with other NFT leaders to protest this decision, ultimately taking a principled stand by severing The Hundreds' partnership with OpenSea and launching their Badam Bomb Squad collection independently. In a stunning reversal, OpenSea later announces they will continue honoring royalties for all NFTs.
This behind-the-scenes account of industry battles that occur largely unknown to the outside world reveals how early pioneers are shaping the future of digital ownership-often at great personal cost and with little recognition. Despite this, the NFT community continues pushing forward through collective effort-creators, collectors, marketplaces, media, influencers, and even scammers all playing their roles.
Chapter 9
Beyond the Hype Cycle: What Remains When the Bubble Bursts
In the epilogue, Hundreds acknowledges readers' impatience to know if NFTs are "real or not." He observes that despite the internet giving us limitless information, we're more anxious than ever about what we don't know-especially the future. He identifies impatience as NFTs' greatest vulnerability-people want immediate wealth, perfect technology, and certainty about outcomes. He contrasts this with the reality that meaningful things require time to build and adapt.
Society used to be better at not knowing-enchanted by curiosity rather than anxious about uncertainty. The Hundreds maintains the mantra "Maintain the Mystery," honoring when the unknown inspired wonder rather than requiring solutions. Hundreds critiques the NFT road map trend that began with Bored Ape Yacht Club, explaining why Adam Bomb Squad resisted locking into long-term blueprints.
Just as The Hundreds never had a business plan but evolved organically over twenty years into areas they never imagined, ABS and BBS will evolve beyond static JPEGs into potentially revolutionary forms across gaming, entertainment, and more.
Hundreds predicts NFTs won't die but will transform dramatically-the term itself will likely fade as the technology becomes ubiquitous. He notes how quickly the space changes, citing Goblintown's success despite rejecting all established NFT principles. Despite marketplace battles and technological shifts, he believes creators will adapt and innovate. With only half of Americans owning crypto and less than a quarter familiar with NFTs, he sees everything so far as merely the beginning.
This perspective offers a refreshing alternative to both uncritical hype and dismissive skepticism. By focusing on the underlying principles rather than specific implementations, Hundreds makes a compelling case for why digital ownership matters-regardless of what form it ultimately takes.
Chapter 10
The Lasting Legacy: Community Over Technology
Throughout the book, one theme emerges consistently: technology matters less than the communities it enables. Whether discussing streetwear forums, NFT Discord servers, or metaverse platforms, Hundreds returns repeatedly to the human connections formed through these technologies. He illustrates this through vivid examples, from the early days of The Hundreds' online forum where teenagers would coordinate meetups to trade rare shirts, to modern Discord communities where artists collaborate across continents.
When asked if NFTs are a scam, Hundreds acknowledges bad actors exist in the space but frames this as inevitable in any technological progression: "There's always going to be people doing some evil shit." He draws parallels to the early internet, the dot-com bubble, and even the streetwear resale market, where each innovation brought both opportunity and exploitation. He maintains optimism about humanity, believing people are "going to be more good than bad," and emphasizes personal responsibility in choosing who to align with. This perspective is backed by his experiences witnessing countless genuine creators and community builders who've used NFTs to forge meaningful connections and sustainable creative practices.
This focus on human connection rather than technological determinism distinguishes Hundreds' perspective from many Web3 evangelists. He's not interested in technology for its own sake but for how it might enable more equitable, creative, and community-driven futures. He provides concrete examples of artists who've built sustainable careers through NFTs, communities that have pooled resources for charitable causes, and collaborative projects that wouldn't have been possible in traditional creative industries.
The book examines several successful community-driven projects, including Bored Ape Yacht Club and CryptoPunks, not for their technical innovations but for how they've created lasting social bonds among members. Hundreds highlights how these communities have organized real-world meetups, supported members through personal crises, and collaborated on creative projects that extend far beyond digital art.
In the end, what makes "NFTs Are a Scam" valuable isn't its technical explanations or investment advice-it's the author's willingness to embrace contradiction and complexity. Hundreds doesn't offer easy answers about whether NFTs are good or bad, revolutionary or regressive. Instead, he invites readers into the messy, exciting, sometimes disappointing reality of building something new. He shares personal stories of both successes and failures, from profitable trades to projects that collapsed, using each as a lesson in community building.
For anyone trying to understand not just what NFTs are but what they might mean for our cultural future, this nuanced perspective offers something far more valuable than certainty-it offers wisdom born from experience, failure, and the persistent belief that how we connect with each other matters more than any technology. The book concludes with practical advice for community builders, emphasizing transparency, authentic engagement, and the importance of creating value beyond financial returns.
