1/ ๐ข Trends #0050 โ Non-Fungible Tokens (NFTs)
A thread with:
๐ 24 players
๐ฎ 3 predictions
โ๏ธ 3 opportunities
๐ 3 key lessons
๐ 3 haters
A thread with:
๐ 24 players
๐ฎ 3 predictions
โ๏ธ 3 opportunities
๐ 3 key lessons
๐ 3 haters
2/ ๐ Problem
Traditional art is hard to secure, sell, authenticate, store, tokenize and collateralize.
In-game items have weak property rights.
Communities have weak alignment.
Traditional art is hard to secure, sell, authenticate, store, tokenize and collateralize.
In-game items have weak property rights.
Communities have weak alignment.
3/ ๐ก Solution
Non-Fungible Tokens represent one-of-a-kind items.
โข Bitcoins are fungible. Tradable 1 for 1.
โข A CryptoKitty is non-fungible. Itโs 1 of 1.
Non-Fungible Tokens represent one-of-a-kind items.
โข Bitcoins are fungible. Tradable 1 for 1.
โข A CryptoKitty is non-fungible. Itโs 1 of 1.
4/ ๐ก Solution (con't)
Physical, non-fungible assets include Michael Jordanโs โFlu Gameโ shoes.
There are no equivalents.
Non-Fungible Tokens (NFTs) include a digital collectible like โฌ๏ธ
coindesk.com/early-cryptopuโฆ
Physical, non-fungible assets include Michael Jordanโs โFlu Gameโ shoes.
There are no equivalents.
Non-Fungible Tokens (NFTs) include a digital collectible like โฌ๏ธ
coindesk.com/early-cryptopuโฆ
5/ ๐ก Solution (con't)
NFTs are digitally scarce.
They are easier to store, sell, authenticate, collateralize, tokenize, value and have stronger property rights than physical assets.
NFTs are digitally scarce.
They are easier to store, sell, authenticate, collateralize, tokenize, value and have stronger property rights than physical assets.
6/ ๐ Players - Use Cases
๐ Art โ Prove ownership and authenticity
๐ Voting โ โBurnโ tokens to affect change
๐ Games โ Buy, sell and trade in-game items
foundation.app/blog/nfts-are-โฆ
๐ Art โ Prove ownership and authenticity
๐ Voting โ โBurnโ tokens to affect change
๐ Games โ Buy, sell and trade in-game items
foundation.app/blog/nfts-are-โฆ
7/ ๐ Players - NFTs
โช๏ธ Founder Cat #18 (@CryptoKitties)
โช๏ธ Cotton Eyes (@djguyj)
โช๏ธ F1 Delta Time Apex Race Car โ1-1-1โ
โช๏ธ Cyborg Ready (@criscyborg)
โช๏ธ Parcel -22,2 (@decentraland)
โช๏ธ Founder Cat #18 (@CryptoKitties)
โช๏ธ Cotton Eyes (@djguyj)
โช๏ธ F1 Delta Time Apex Race Car โ1-1-1โ
โช๏ธ Cyborg Ready (@criscyborg)
โช๏ธ Parcel -22,2 (@decentraland)
8/ ๐ Players - Marketplaces
โซ๏ธ @SuperRare
โซ๏ธ @niftygateway
โซ๏ธ @rariblecom
โซ๏ธ @opensea
โซ๏ธ @AsyncArt
โซ๏ธ @SuperRare
โซ๏ธ @niftygateway
โซ๏ธ @rariblecom
โซ๏ธ @opensea
โซ๏ธ @AsyncArt
9/ ๐ Players - Artists
๐ @beeple
๐ @osinachiart
๐ @3LAU
๐ @JustinRoiland
๐ @djguyj
๐ @beeple
๐ @osinachiart
๐ @3LAU
๐ @JustinRoiland
๐ @djguyj
12/ ๐ฎ Predictions
Creators and communities will retroactively airdrop tokens.
@RAC used Zora to give early Twitch, Bandcamp and Patreon fans $RAC.
blog.ourzora.com/home/introduciโฆ
Creators and communities will retroactively airdrop tokens.
@RAC used Zora to give early Twitch, Bandcamp and Patreon fans $RAC.
blog.ourzora.com/home/introduciโฆ
13/ ๐ฎ Predictions (con't)
NFTs will become cash-flowing alternative assets.
@djguyj sold royalty rights to โCotton Eyesโ for $26,000.
coindesk.com/musician-sellsโฆ
NFTs will become cash-flowing alternative assets.
@djguyj sold royalty rights to โCotton Eyesโ for $26,000.
coindesk.com/musician-sellsโฆ
14/ ๐ฎ Predictions (con't)
Projects will piggyback on the success of others with interoperable NFTs.
KittyRace and KittyHats build on @CryptoKitties. These are two, of many, projects in the KittyVerse.
cryptokitties.co/kittyverse
Projects will piggyback on the success of others with interoperable NFTs.
KittyRace and KittyHats build on @CryptoKitties. These are two, of many, projects in the KittyVerse.
cryptokitties.co/kittyverse
15/ โ๏ธ Opportunities
Monetize trust and attention:
โข @3LAU sold Everything Canvas for $77,827.77
โข @lilyachty launched a social token with @fyoozapp
โข @criscyborg partnered with an illustrator for a drop on @niftygateway
Monetize trust and attention:
โข @3LAU sold Everything Canvas for $77,827.77
โข @lilyachty launched a social token with @fyoozapp
โข @criscyborg partnered with an illustrator for a drop on @niftygateway
16/ โ๏ธ Opportunities (con't)
Reward early believers with retroactive airdrops.
@RAC used @ourZORA. @tryrollhq and @unite_cmty are other options.
@seedclubhq offers social-tokens-as-a-service.
Reward early believers with retroactive airdrops.
@RAC used @ourZORA. @tryrollhq and @unite_cmty are other options.
@seedclubhq offers social-tokens-as-a-service.
17/ โ๏ธ Opportunities (con't)
Incentivize attendance.
The @poapxyz lets users collect badges. See this live drop on The Nifty Show using Atomic Hub. โฌ๏ธ
Incentivize attendance.
The @poapxyz lets users collect badges. See this live drop on The Nifty Show using Atomic Hub. โฌ๏ธ
18/ ๐ Key Lessons
NFTs are easier to store, authenticate, collateralize, value, transfer, tokenize and secure than physical assets.
NFTs are easier to store, authenticate, collateralize, value, transfer, tokenize and secure than physical assets.
19/ ๐ Key Lessons (con't)
Belief drives the price of art and most currencies. Taxes, corporations and nations are also collective hallucinations.
Belief drives the price of art and most currencies. Taxes, corporations and nations are also collective hallucinations.
20/ ๐ Key Lessons (con't)
Timing and access, not price, are the primary sorting functions of drops.
Brands build hype and leave money on the table with artificial scarcity.
This is a flippersโ profit.
trends.vc/trends-0026-drโฆ
Timing and access, not price, are the primary sorting functions of drops.
Brands build hype and leave money on the table with artificial scarcity.
This is a flippersโ profit.
trends.vc/trends-0026-drโฆ
21/ ๐ Haters
โNFTs have no utility.โ
Owning art signals status.
NFTs are a new, superior form factor that solves a very old problem. Some NFTs are used to vote and trade for physical goods.
โNFTs have no utility.โ
Owning art signals status.
NFTs are a new, superior form factor that solves a very old problem. Some NFTs are used to vote and trade for physical goods.
22/ ๐ Haters (con't)
โI can just copy-paste an NFT.โ
Yes. You can also download mona_lisa.jpg. But do you own it? NFTs sell for hundreds of thousands of dollars.
This ship has sailed.
โI can just copy-paste an NFT.โ
Yes. You can also download mona_lisa.jpg. But do you own it? NFTs sell for hundreds of thousands of dollars.
This ship has sailed.
23/ ๐ Haters (con't)
โProof of listening, watching and attendance can be bought.โ
Yes. And weโll know whether it was bought or earned.
ethereum.stackexchange.com/questions/4369โฆ
โProof of listening, watching and attendance can be bought.โ
Yes. And weโll know whether it was bought or earned.
ethereum.stackexchange.com/questions/4369โฆ
24/ If you're interested in trends such as
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๐ค Million-Dollar, One-Person Businesses
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๐ Online Courses
๐ฃ Referral Programs
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Check out โฌ๏ธ
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๐ Paid Newsletters
๐ฆ Startup Studios
๐ค Million-Dollar, One-Person Businesses
๐งฑ No-Code
๐ฌ Paid Communities
๐ Online Courses
๐ฃ Referral Programs
๐ฐ Micro Private Equity
๐ณ Cloud Kitchens
Check out โฌ๏ธ
join.trends.vc
25/ Thanks to:
@SuperRareJohn (@SuperRare), @ccarella (@TQTezos), @ljxie
(@scalarcapital), @pcmarts (Integrity Music), @StuSim (FinLister), @abbybarsky (@get_cord), @aadilrazvi (DemandCurve)
@SuperRareJohn (@SuperRare), @ccarella (@TQTezos), @ljxie
(@scalarcapital), @pcmarts (Integrity Music), @StuSim (FinLister), @abbybarsky (@get_cord), @aadilrazvi (DemandCurve)
26/ Thanks (con't)
@bramk (No-Code MVP), @imessien (@HBCUvc), @ethanrjones (Tools for MGMT), @ryandeiss (Scalable.co), @marty (Poolside.fm) and @ajlawrence (Beyond8Figures).
We had a great time jamming on this report!
@bramk (No-Code MVP), @imessien (@HBCUvc), @ethanrjones (Tools for MGMT), @ryandeiss (Scalable.co), @marty (Poolside.fm) and @ajlawrence (Beyond8Figures).
We had a great time jamming on this report!
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