Crypto will be the "port of entry" for all internet media.
My thoughts on NFTs, finally in one place (on @viamirror) 👇
variant.mirror.xyz/T8kdtZRIgy_srX…
My thoughts on NFTs, finally in one place (on @viamirror) 👇
variant.mirror.xyz/T8kdtZRIgy_srX…
This post strings together a bunch of disparate tweetstorms and thoughts I've had over the years.
Quick summary:
Quick summary:
A simple way to think about NFTs are as files that live on the blockchain.
This means that like Bitcoin, they can't be copy-pasted, edited, deleted, or otherwise manipulated.
This means that like Bitcoin, they can't be copy-pasted, edited, deleted, or otherwise manipulated.
The result?
It is now possible to own digital media asset in the same way that you can own a digital financial asset, like Bitcoin.
It is now possible to own digital media asset in the same way that you can own a digital financial asset, like Bitcoin.
So if you squint, you can see that NFTs have the potential to invert the ownership model of internet platforms.
Why?
Why?
Today, billions of images, videos, songs, and more media will be shared on social media.
When those files are posted, a copy of the media is taken from the creator’s device and pasted to the server of the platform distributing it—Facebook, Twitter, YouTube, TikTok and the like.
When those files are posted, a copy of the media is taken from the creator’s device and pasted to the server of the platform distributing it—Facebook, Twitter, YouTube, TikTok and the like.
This may seem like a lightweight interaction, but when uploading, creators don’t simply copy a file—they also copy-paste ownership of the file to the platform itself.
Thats because somewhere in the Terms of Service, it says that when a file is uploaded, its ownership is shared with the platform, to monetize as they see fit.
Meanwhile, crypto is unlocking a new model, where creators can own and capture the value of their work directly.
This a key tenet of The Ownership Economy—a broader thesis on what crypto tokens and smart contracts unlock:
This a key tenet of The Ownership Economy—a broader thesis on what crypto tokens and smart contracts unlock:
https://twitter.com/jessewldn/status/1283036272936857605
I believe we are well on our way to NFTs becoming the "port of entry" for every piece of media on the internet because every stakeholder involved—creators, their audiences, and developers—can all make more money in a marketplace built around true digital ownership.
To unpack this, I addressed a number of common Qs on NFTs:
Why collect NFTs right now?
https://twitter.com/jessewldn/status/1321447488923045898?s=20
Longterm, where are NFTs heading?
https://twitter.com/jessewldn/status/1301669871789445122
Is NFT adoption inevitable?
https://twitter.com/jessewldn/status/1346470700979089414
Where are we in the adoption cycle?
https://twitter.com/jessewldn/status/1335979344225820673
A lot of these ideas are things I've been thinking about since co-founding Mediachain in 2014.
https://twitter.com/jessewldn/status/1346490319332892674?s=20
Roughly six years later, in a world where the early majority (10%+ of Americans) own digital currency, the infrastructure and markets for NFTs is finally ready.
I'm excited :)
I'm excited :)
Oh and this space is growing fast...
Teams are hiring engineering, creator/dev evangelist, community, product and design roles.
If yr interested, get in touch here: forms.gle/cY4vgKZj7yn9pT…
Will do my best to connect the dots!
Teams are hiring engineering, creator/dev evangelist, community, product and design roles.
If yr interested, get in touch here: forms.gle/cY4vgKZj7yn9pT…
Will do my best to connect the dots!
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