Value Glitch

RM, writing in a set of notes meant to develop a theory of play, argues that crypto and Web3 work exposed the limits of how value is measured, including through metrics like liquidity, volume and revenue and through GDP, which leaves out care work, the environment and the informal economy. RM says that years working in crypto, including at WE3.co, a design collective founded in 2021, made them more cynical and less intuitive about value and price. The text also says that the value of foundational design work is hard to price, since the final visual layer is the most visible and easiest to commoditize.