Thread by @zoink

Interested in the NFT space? Looking for something to build? Some thoughts below on what I’m most excited to see next in NFT’s. If you’re building one of these ideas, please get in touch!

Thread 👇

🌎 1. Community as Art. For CryptoPunks, what is the art piece? Is it the algorithm used to generate the punks? Each individual punk a piece of art? My belief is that the Punks community — endlessly storytelling, speculating and building relationships — is the art piece. (2/18)

Following this further, public blockchains and DAO’s provide a unique opportunity to create community controlled artwork. Ex: imagine a shader where community votes on new parameters every day + these parameters can be minted as an NFT. Token holders vote on params. 🗳 (3/18)

🎵 2. NFT’s as productive assets. For example: music royalties are a surprisingly interesting asset class. An inaccessible product to most retail investors, music rights can produce meaningful passive income streams as part of a diversified portfolio. (4/18)

😻 Back in Feb 2018 @leanthebean @dfinzer @xanderatallah @ohjphan @pfletcherhill @_mertcelebi and I explored this by building @ethmoji where anyone could “compose” an Ethmoji from body parts and accessories. You paid owners for the parts you used.

https://twitter.com/zoink/status/959976644835340288?s=20

(5/18)

⅒ 3. Fractionalization — fancy word for putting an NFT in a DAO + issuing fungible “shares” of the NFT. “Shareholders” can vote on whether the DAO should sell the underlying asset and distribute returns to token holders. Was exploring this for 7804 but taxes = scary. (6/18)

👩🏽‍🎨 @NFTX_, @fractional_art and @metakovan / @twobadour (via @metapurse and B20) are some folks exploring this right now! If the NFT is a productive asset, you can also imagine a “share” of the NFT issuing a dividend. (7/18)

🙇🏻‍♀️ 4. True fans have an inherent desire to support their favorite creators and build communities with other true fans. As creators increasingly monetize their work through NFT’s, we will start seeing NFT’s serve as “proof of fandom.” (8/18)

👀 What would Patreon look like if it were decentralized? Maybe NFT holders get access to early content. Or perhaps there's a read only Discord channel/ forum where, like a backstage pass, NFT’s confer “write access” allowing holders to engage directly with the creator. 🎟 (9/18)

🚀 Incentives for all parties in a “proof of fandom” community are very aligned. Communities naturally form around creators + creators need new ways to monetize audience. Fans want to engage with other fans + get exclusive access. And people want status. (10/18)

🙃I’m pretty hyped about this idea so definitely reach out if you are building this!! (11/18)

📅 5. Rise of the everyday. The most celebrated NFT artists will be artists that make a LOT of art. More art -> more NFT’s -> bigger community of collectors -> more people promoting your work. (12/18)

📈 Two great examples of NFT artists who are relentless in their pursuit of constant creation are @beeple and @songadaymann. As the larger community associates the “everyday” with success, we’re going to see the rise of “everyday” artist communities. (13/18)

🎁 Public gifting of NFT’s between artists will be a huge part of this dynamic, similar to how influencers cross promote on Youtube / Instagram. And we will start seeing some epic remix moments, too! (14/18)

🔭 ZOOMING OUT: yes, NFT’s are crazy trendy right now. We’re in the “Peak of Inflated Expectations” phase of the Gartner hype cycle. And that’s fine. Physical -> digital, creator economy and digital ownership are long term trends. Early days here! (15/18)

🧲 The current mania around NFT’s will attract great innovators and entrepreneurs to the space. Cryptocurrency is a cyclic asset. As prices deflate, the hype will start to fade and the true believers will have a chance to catch their breath and focus on building. (16/18)

❤️ My personal mission in life is to help empower creatives. NFT’s provide capital to creatives which gives them more time to focus on their work. I can’t wait to see how the world changes when more creators shift from a scarcity mindset to a mindset of abundance. (17/18)

👋 If you got this far, thanks for reading! I hope you’ll reply with some of your own predictions for the NFT space :) And again, if you’re exploring some of the ideas I mentioned in this thread, please let me know!

Have a great day!! (18/18)