Thread by @bitfalls

Thread. To outsiders and non-NFTers, this #NFT mania might feel toppy. Football players and actors shilling #NFTs has to be a sign of the end times, right?

But when you consider that an NFT is "any data", the world becomes much more interesting.

Collectibles and tickets are obvious, sure, but if you take NFTs a little bit further than movies and images, you end up with a wonderfully composable world of NFT legos.

It becomes obvious that you can kick a LOT of middlemen out of your life.

For example...

A utility bill can be an NFT. Paying it can be an NFT itself, which is sent into the utility bill as proof of payment. This is possible with @RmrkApp's nested NFTs.

A house mortgage or a car slip can be an NFT, only now you can sell them globally, to anyone, anywhere in the world, and even use them to take out loans (there's legal backing for this globally now). theverge.com/2021/4/16/2238…

A song can be a collaborative NFT where you mint a single empty music sheet NFT and people send NFT notes into it, democratically deciding which one goes where. The end result: a collaborative composition that shares royalties with all contributors. Also a @RmrkApp thing.

Taking audio further, a podcast can be turned into an NFT instantly when recording finishes, and users can then mint soundbites from it as separate NFTs that pay royalties to the original podcaster. This has the added benefit of audio provenance (anti-deepfake). Also @RmrkApp.

But also, how cool would it be to collect all the instances in all the podcasts when @joerogan said "That's crazy"?

Video games, an industry bigger than music, sports, and Hollywood combined, can now give players true ownership, but also inventory compositions and community-governance over inventory loadouts of characters. Just one prototype coming up: url.rmrk.app/demobird

With chain-specific augmentations on top of a shared standard, you can take things even further:

- open a prediction market on @ZeitgeistPM on how many times @joerogan will say "DMT" in a recording
- winner takes his prediction market win NFT to @KaruraNetwork to take out a loan

Multi resource NFTs are also world-shatteringly awesome. An ebook NFT that has a resource that's an audio file, a resource that's a PDF, and one that is a cover image, loads a different resource depending on context (@audible_com vs @RmrkApp singular vs @opensea respectively)

Being able to send reactions to NFTs as part of a standard is not only a fun gamification mechanic, it is an excellent value discovery method: no need to put something up for sale to learn if it's relatively more valuable than another NFT. If people are reacting to it, it's clear

And if you bring in conditional rendering, i.e. responses to outside input, you can have NFTs evolve. Show a special code during a part of a day, or make Mona Lisa sassy when you send her 50 ☝ emoji. Also a @RmrkApp thing.

If you then put all these NFT legos together, you can compose an NFT system of arbitrary complexity, creating something as awesome as this...

NFTs are young but already ripe for a disruption. That's why at @RmrkApp we decided to innovate hard, ship fast, and experiment on the chaos-driven @kusamanetwork. If you want to learn more, hit the header links at rmrk.app. See you soon in one of many metaverses!