A randomized hash string determines a unique layout and color placement which makes each NFT the recipient's own.
I'm personally drawn to on-chain generative art because it feels like a native expression of this new medium, smart contracts.
The community @artblocks_io is all about this, and Jeff really nailed it with something bespoke for @VariantFund
What happens next?
It'll be interesting to see if these permissionless NFTs make their way to markets like @opensea, @rariblecom, @withFND etc...or whether the community HODLs.
Will recipients flood the market with Variant Plan secondary?
In 2021, I believe NFTs will reshape the relationship between creators and their audiences.
In the Passion Economy, that is increasingly a relationship of patronage.
In the Ownership Economy, it will be one of aligned incentives: patronage+profit...
...this is a powerful combo and I expect it will transform much of social in the near future.
Thanks, Crypto — the most market-driven way to build community and network effects :)
• • •
Missing some Tweet in this thread? You can try to
force a refresh
@spencernoon has stewarded (and backed) an incredible community of builders by championing data driven insights, and creating venues for builders to do the same through @OurNetwork__
He's done all of this as a solo investor in FL—long before it was cool/the new Silicon Valley—a testament to crypto's decentralized, internet-first culture.
NFTs are very early in the irruption-installation phase of Perez' hype cycle.
I'm optimistic they are going to work with mainstream audiences, but what is the wedge?
If I had to guess, it'll play out as follows 👇
1/ Irruption becomes frenzy alongside the backdrop of a crypto bull market. Digital artworks sell for $MMs, grabbing headlines, creator and collector attention.
2/ Developers rush in, building new marketplaces and experiences around issuing, collecting and trading NFTs.
This is clearly happening right now. New marketplaces and subniches are popping up daily. My fav as of late is @artblocks_io for generative art.
1/ Being able to "invest in whats in the fridge"—brands whose products and services are used or recognized globally—is now globally accessible, as it should be.
Where a network is sufficiently similar to a cooperative, its possible a team can launch a token and decentralize ownership, while continuing to lead their project—without fear of violating securities regulations.
IANAL and this post does not provide a comprehensive legal analysis.
We are flagging this argument for further consideration in the hopes that crypto teams will consider them with their own counsel :)