Communists and revolutionaries workers have long understood the need to build dual power, and build a new society - and economy - in the shell of the old. As such, libcom.org is proud to announce our latest collaboration as a first step to detaching ourselves from the global capitalist financial system and, ultimately, replacing it with an egalitarian economics based on the principles of libertarian communism. [Edited to add: this was an April Fools gag]
So today we launch our new project: Oxidisible non-fungible tokens (NFTs). These are a new, high-tech concept, but in many ways, the system of tokens replacing money used in areas of revolutionary Spain during the Civil War, could be considered the first NFTs. And the logs of food and tools taken from communal stores - precursors to the blockchain.
We have teamed up with rank and file workers at techno-libertarian outlet Bored Ape who have helped us to develop an entirely new type of NFT, expropriating and detourning the original Apes but utilising David Harvey's concept of 'oxidisible money'.
With our new open source codebase, Oxidisible NFTs have the potential to fulfil Harvey's concept1 :
Or on the monetary question – we need money to circulate commodities, no question about it. But the problem with money is that it can be appropriated by private persons. It becomes a form of personal power and then a fetish desire. People mobilise their lives around searching for this money even when nobody knows that it is. So we’ve got to change the monetary system – either tax away any surpluses people are beginning to get or come up with a monetary system which dissolves and cannot be stored, like air miles.
Oxidisible NFTs do away with private ownership, and can be purchased by anyone, who will be designated as "digital proletarians". The NFTs will then Oxidise at a rate of 1.5% per year, ensuring that ownership on the blockchain will last just under 67 years, ensuring that value cannot be inherited and accumulated over generations. And to prevent capitalist exploitation, the NFTs will self-Oxidise if owners accumulate sufficient value in Oxidisible NFTs which would enable them to no longer have to sell their labour power to survive." Labour will be necessary in a communist society, and thus also with these NFTs: Oxidisation can only be prevented by digital proletarians engaging in productive labour – "mining". Mining can entail either digitising, OCRing or formatting texts for the libcom.org archive, or generating additional sales for Oxidisible NFTs using your own unique referral code.
Our first three apes are based on popular libertarian communists Emma Goldman, Peter Kropotkin, and Karl Marx. Minting will take place 1 May 2022, International Workers' Day. Use your favourite NFT Wallet, new Freedom cryptocurrency Kropotcoin, or sign up for our new Oxidisible Libcom NFT Wallet.
Proceeds will help fund a graphic designer to work on the libcom v.5 upgrade.
The proletarians have nothing to lose but their chains. They have a world to win. Workers of the world, Unite!
Happy April Fool's Day!
- 1Interview with David Harvey, Systemic Alternatives magazine, 2013". See also Critisticuffs's review of Harvey's Companion to Marx's Capital which analyses the concept against Harvey's reading of Marx