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Mason Nystrom Profile picture
@masonnystrom
Sep 23, 2020 • 4 tweets • 2 min read • Read on X
The fuse connecting the NFT and DeFi worlds has been sparked by projects like Axie Infinity, Rarible, and MEME integrating DeFi concepts like liquidity mining and staking to build early networks.

NFTfi has facilitated over $60,000 in NFT-collateral backed loans between users. Image
Launched in May 2020, NFTfi is a protocol that enables users to deposit their NFTs as collateral in order to obtain an ETH denominated loan.

NFTfi is witnessing signs of early traction with over $3,500 in interest paid from over 60,000 in total platform loans. Image
Besides loans, I expect new iterations on DeFi inspired ideas like NFT staking, insurance, and fractionalized NFTs to gain steam in the coming year.

Read more about NFTfi and how NFT based projects will grow the DeFi pie.
messari.io/article/nfts-m…
A prime example of fractionalized NFTs from @NIFTEXdotcom:

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More from @masonnystrom

Mason Nystrom Profile picture
Apr 26, 2023
Over 2 million compressed NFTs have been minted in just a few weeks.

Enabled by @metaplex's new NFT compression standard (Bubblebum), Compressed NFTs offer greater scale to NFT minting and open up a new array of use cases for Solana NFTs. Image
But what are compressed NFTs?

Normal Solana NFTs have metadata stored in on-chain accounts

Compressed NFTs group the state of many NFTs into a merkle tree and hash the merkle root on-chain with each leaf of the tree (e.g. NFT) verifiable on-chain while the metadata is offchain
Compressed NFTs allow minting NFTs at scale while securing them cryptographically on-chain.

Importantly, compressed NFTs can be redeemed/decompressed in which case the NFT is removed from the offchain merkle tree and then exits on-chain as a normal Metaplex NFT.
Read 4 tweets
Mason Nystrom Profile picture
Apr 5, 2023
Some thoughts on NFT marketplace defensibility and value capture
nystrom.substack.com/p/defensible-n…
The magic of NFTs as an asset class is that the underlying assets are composable. But, this effortlessly destroys the moat of secondary trading liquidity that marketplaces have relied on to succeed.
NFT marketplaces must find proprietary liquidity that lives on their platforms, that drives users, and is unique.

Fluid secondary liquidity means marketplaces & NFT social networks must compete in the streets of the bazaar where trading occurs and not behind their castle moats.
Read 18 tweets
Mason Nystrom Profile picture
Mar 27, 2023
Artists have earned over $5m in earnings on Sound Protocol.

Let’s take a brief look at the state of @soundxyz_ Protocol & Marketplace 🎧 🧵
sound.xyz
Sound Protocol by the numbers:
•$10m in NFT volume (4.4m Primary and 5.7m Secondary)
• Minted over 80,000 music
• Over 400 talented artists
• Nearly 13,000 collectors

dune.com/nicoelzer/soun…
Music NFT mints continue to grow 📈

Feb 2023 was Sound’s best month ever in terms of music NFTs minted.

The record month was aided by the launch of Sound’s curator rewards which enabled fans to earn 5% on primary mints generated through their referral links and playlists. Image
Read 5 tweets
Mason Nystrom Profile picture
Feb 28, 2023
Today, the way in which protocols build demand is often dictated by two GTM approaches:
1) Network-driven Protocol GTM
2) Product-led Protocol GTM

Let's examine when each GTM strategy works best.
nystrom.substack.com/p/protocol-gtm…
1) Network-driven protocol GTM focuses on building a protocol with broad distribution and permissionless access, and then evangelizes others to build on top of the network.

Examples: Ethereum, Polygon, Livepeer, Metaplex, Lens, XMTP, Reservoir
This approach often encourages adoption through:
• Permissionless access (e.g. Ethereum)
• Strong BD/sales (e.g. Polygon)
• Integrations and Robust documentation (i.e., XMPT)
• Token standard or contract integrations (e.g., Metaplex)
• Resource marketplaces (e.g.Livepeer)
Read 9 tweets
Mason Nystrom Profile picture
Feb 21, 2023
Every so often, a new playbook for token distribution emerges:
• Liquidity Mining (e.g. Compound)
• Retroactive airdrops (e.g. Uniswap)
• Infra setup (e.g. Helium)

Blur created the next token playbook: Sequenced Airdrops

Here's what you need to know👇🏻variant.fund/articles/what-…
Disclosure: We're not investors in Blur. But given our thesis on user ownership, we think the Blur case study holds interesting lessons for all crypto projects seeking to turn users into owners.
But first, how did Blur's sequential airdrop work?

• Airdrop 0: Rewarded social referrals to attract traders to its platform
• Airdrop 1: Rewarded ecosystem trading activity
• Airdrop 2: Rewarded listings to build supply
• Airdrop 3: Rewarded bidding to spur the demand side
Read 8 tweets
Mason Nystrom Profile picture
Feb 17, 2023
There's still massive latent demand for NFTs from large brands that people identify with and care about.

Nike's @dotSWOOSH NFT marketplace (still in beta) has seen ~300k Swoosh IDs minted and is onboarding thousands of users each week.

The first .Swoosh collection is coming👇🏻 Image
A Swoosh ID is basically your username for the Nike .Swoosh platform.

The ID is non-transferable and the Swoosh platform also gives users a wallet when they claim their .Swoosh ID (managed by @BitGo). Image
Nike's .Swoosh platform plans to focus on collecting & experiences (IRL and digital).

Nike has already started engaging the community with its Our Force 1 NFT project.

Our Force 1 uses a bracket style voting tournament that will lead to the creation of the first .Swoosh NFTs. Image
Read 4 tweets

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