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Mason Nystrom Profile picture
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8 Mar, 6 tweets, 2 min read
Music has had a highway-to-hell-of-a-time getting ported onto blockchains.

.@eulerbeats is the newest iteration of bringing music to blockchains and in turn porting intellectual property onto permissionless networks.

A deep dive into EulerBeats💿👇
messari.io/article/eulerb…
EulerBeats are algorithmically generated music tracks created by the Euler Phi function.

There are 27 tracks each that come with 1) a Genesis LP Track and 120 Prints (copies) of each track. Unlike other NFTs, the data to reproduce an EulerBeat is stored on-chain.
EulerBeats are issued on a bonding curve which means that per print cost rises significantly over time. This means there’s a stark gap between prints even once half the supply has been issued.
Each of the 27 Genesis LP Tracks holds royalty rights:

(on-chain) Revenue Royalties – 8% of revenue (in ETH) from newly minting prints.

(off-chain) Commercial Royalties – Genesis LP NFT owners maintain non-exclusive, royalty-free commercial licensing of their EulerBeat.
Since the project launched on February 15, total EulerBeats Genesis royalties have surpassed 1000 Ether (~$1.7m).
Prints don’t retain royalty rights & only have personal usage rights (not-commercial).

So how do prints capture value, if at all?

Dive into the full piece to read more about EulerBeats Prints, off-chain royalties, and the future of EulerBeats.

messari.io/article/eulerb…

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More from @masonnystrom

Mason Nystrom Profile picture
9 Mar
Seeing a lot of misguided takes about NFTs so @YoungCryptoPM and I wrote an explainer for new entrants.

Undoubtedly there is hype and many assets are overpriced, but there is also value.

So, what are NFTs, why are they valuable, and what are the common misconceptions.

1/
This is a Twitter thread of an ELI5, there is nuanced to everything – read the full piece for a more robust explanation.
messari.io/article/eli5-f…
NFTs – non-fungible tokens – are simply a file format for blockchains.(h/t @jessewldn)

People use file formats – like jpeg gifs, etc – to transfer information or value on the internet every day.

NFTs are a file format that transfers data and value on blockchains(e.g.Ethereum).
Read 13 tweets
Mason Nystrom Profile picture
9 Mar
A short story on how I thought I earned a box of Girl Scout Cookies and instead ended up with 27,456 Thin Mint Girl Scout Cookies.

Time for a thread 👇🏻👇🏻👇🏻 Image
In an effort to help a friend raise money for some Girl Scouts in Texas I tweeted out a referral link to their Troop with a link to purchase cookies. To amplify, I posted a poll to decide the best GS cookie, obvi NOT Thin Mints or Tagalongs.
Multisig owner and all-around decent Bostonian .@cmsholdings offered a simple reward – change my Twitter name to "Mr. Thin Minty Mint" and everyone (including myself) who liked the post would get some girl scout cookies.
Read 11 tweets
Mason Nystrom Profile picture
21 Feb
.@nonfungibles dropped an amazing NFT 2020 report recently and I want to highly some of the awesome charts along with some personal commentary.

A long (but worth it if you’re just scrolling anyway) thread on what you need to know about the current state of NFTs.

1/
2/The overall Ethereum NFT (ERC 721s only) market capitalization currently sits around $338 million and IMO will easily double if not quadruple in 2021.

Note: this just includes NFTs by project and doesn’t include tokens of NFT projects or NFT marketplaces like AXS, RARI, etc.
3/Metaverses account for the most sales likely because they have the largest TAM while Art and Gaming come in 2nd and 3rd.

Each category of NFTs has 1-2 projects that make up a large portion of volume. Let’s breakdown some of these categories with Nonfungible and other data.
Read 19 tweets
Mason Nystrom Profile picture
19 Feb
There’s a problem with how content (songs, blogs, artwork, etc) is valued on the internet.

I call this the Davy Greenberg Dilemma 🧵
The crux of the Davy Greenberg Dilemma is two-fold:

1️⃣Creators sell their early work at a discount to the future value (e.g. Once an artist is famous their work is worth more but they don't get any upside on their prior work)
2️⃣ Good content doesn’t scale and faces power laws where 1 piece outperforms 99% of all the other creations but often this content is equally valued (e.g. a Substack/Patreon/Spotify Podcast subscription values most content equally)
Read 5 tweets
Mason Nystrom Profile picture
16 Feb
The next evolution of content platforms is starting.

Using crypto primitives – like NFTs, permissionless protocols, programmable royalties – content creators are set to control the next era of content – The Ownership Era.

A quick thread on the eras of content 👇
“Content is where I expect much of the real money will be made on the Internet, just as it was in broadcasting.” - Bill Gates
messari.io/article/the-ev…
The Distribution Era

The key value in this era for consumers was aggregation while creators received wide distribution of their content(e.g. songs). However, as users realized that their content had value, beyond views and likes, individuals started to create their own brands.
Read 6 tweets
Mason Nystrom Profile picture
9 Feb
What is Web3?

Web3 is a shift in internet culture.

Empowered by new technologies, the Web3 movement is spearheaded by a shift in how we, the collective, view and value the Internet.

1/
In a one-liner – it’s the next era of the Internet. Web3 is a paradigm shift towards a more democratized Internet – an Internet that is governed by the collective rather than by corporations and special interests.
messari.io/article/web3-e…
Web3 is about rearchitecting internet services and products so that they benefit people rather than entities.

The Web3 world is one that has open-source protocols at the foundation while businesses act as interfaces that provide convenient access and additional features.
Read 6 tweets

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