onchainomics

Desire, in its Lacanian articulation, is fundamentally the desire of the Other; 

An escalating proliferation of alienated demands has concurrently relegated instrumental utility to a secondary concern. The valuation of numerous digital assets, consequently, is not predicated solely upon their inherent functionality. 

Quite the contrary, their perceived worth is predominantly shaped by their very non-functional essence – the expansive canvas they offer for collective fantasy, or a valuation rooted in an uncompromising financial nihilism. 

Furthermore, the interplay between supply and demand does not invariably manifest as a transparent, one-to-one correlation. Within the crucible of postmodern capitalism, a nuanced equilibrium between functional utility and its absence crystallizes into a form of rational value. 

This phenomenon frequently materializes in market prices as a premium and an unwavering faith, transcending conventional fundamental analysis, propelled by the intricate workings of profound psychic structures.

Concurrently, it is imperative to acknowledge that as the cost of execution approaches zero, the leverage of value creation shifts entirely to the stage of definition.

The definition – that is, to Fichte's 'starting point of negation' in his Wissenschaftslehre: the profound capacity to define novel problems, construct new conceptual frameworks, and propose original systems of value.

This innovative impulse, however, often constrained by a profound subjectivity deficit, becomes confined to mere optimization within existing paradigms rather than fostering the emergence of genuinely new ones, thereby further exacerbating the alienation of value itself. 

Consequently, consumption within the cyber-reality society transforms into an impure, incomplete, and ceaseless quest for an eternally elusive jouissance.

Its expressions and evaluative criteria migrate from tangible functionality to the sheer intensity of symbolic evocation and the resonant echo within the imaginary realm, thereby attempting, in a profoundly defeatist yet perpetually self-sustaining manner, to fill an irreducible, fundamental void.