Thread by @sriramk

⏰ GTS x NFT recap: @aarthir and I had a fascinating conversation on the future of NFTs last night with @zoink @scottbelsky @rohamg @twobadour @dfinzer @donnie @saturnial @pmarca. This was pretty epic given the guests - here's an attempt to summarize.

@zoink on what he’s excited about

- NFTs for productive assets, like music royalties
- Dynamic NFTs that change over time and as they - change hands (!)
- Community art like CryptoPunks
“We’re at a peak in the hype cycle but the innovation is real”

“The beauty of NFTs is the community”
“What if you had an algorithmically generated picture whose inputs are weighted by community votes?”
“The act of art collection will promote the creator”

@saturnial on @kevinroose's NYT column being tokenized and sold for $560k
“The boundaries of what NFTs are is being explored”
“This will not be the NYT’s last NFT”
“Every journalism publication is in my inbox trying to figure out NFTs”

@scottbelsky on atoms vs bits
“We have such a bias toward atoms, thinking if we can’t feel it it isn’t real”
“An artist made a furry replica of the Mona Lisa. This made me realize—the Mona Lisa can never be tangible to you, so there’s no real difference with digital art”

On what could go wrong with NFTs//
“With web 2 we were creative about what could go right, but we should have been more creative about what could go wrong. Let’s do that with web 3”

@rohamg on focusing on the tech vs delivering value to the user
“It’s more important to focus on what the customer is getting out of this than what’s going on in the backend”
“What’s authentic is more determined by the community than by any manufacturing process”

@donnie on interoperability of NFTs//
“NFTs are the primitive of the new internet - the atomic unit”
“A VW Passat is a Passat everywhere, but there are diff. standards in each place e.g which side the steering column is on. Similar in the digital world, but easier to implement”

@dfinzer on web 2 vs. web 3//
“I’ve never seen web 3 as replacing web 2. It’s building on top of it.”
“The spread of crypto and NFTs over the past few months has been thanks to web 2 infrastructure”

@saturnial on building social networks with NFTs
“You’ll never use a service where you’re not able to take your identity with you. It’ll stay social but you’ll have an identity that transcends any one site. It will create a much more vibrant, interesting internet”

On NFT standards//

@saturnial “The standards we have now are powerful but primitive”
@pmarca “Make things simple. Complexity is the enemy for mainstream adoption. But flexibility is also critical. The trick is to cross both requirements”

@donnie “Attempting to establish standards too early can limit the creativity we have with NFTs”
@twobadour “Maybe standardization doesn’t need to mean uniformity. Maybe each environment can have different standards that all point to the same NFT”

On NFTs they’d love to see that don’t exist yet//

@zoink “DAOs minting NFTs”
@twobadour “An application for publishing/writing” (since he's a writer!)
@scottbelsky “NBA Top Shot meets America’s Funniest Home Videos for life moments. There’s some artist in all of us”

@saturnial “Artists minting their MFA so you can own a piece of their education. Own an NFT that invests in a career”
@dfinzer “game played at the data layer by many diff. ppl but at the app level is visualized in a diff. way. Like an NFT used across CryptoKitties/other games”

@donnie “NFTs that integrate real world friction, have planned obsolescence built in. Something has value when it has a limit to it. My favorite sweatshirt becomes more personal as it ages and wears. Bring that to NFTs”

On where NFTs will be in 5 years//

@zoink “The first game that creates a decentralized economy will have many games following suit”
@scottbelsky “Why aren’t we all going to be surrounded by digital objects that help define us? No one wants the default skin in Fortnite.”

@saturnial “We’ll get to the point where the NFT is the unit of the internet. It’ll be like a jpeg. In 5 years people will expect things to be built on NFTs”
@dfinzer “This will span everything we see as a digital asset on the internet”

@donnie “Wearing and having NFT-based AR content around you. It’ll be novel for about as long as wearing airpods was”
@rohamg “Personal expression will be the main utility...Games will be the vehicle where hundreds of millions of people will come to understand this”

And finally @pmarca "In a world of decaying institutions, let the smartest people in the world have full autonomy and pursue the work they actually want to pursue"

Thanks all - this was so fun just given the pedigree of the guests last night. We will put up the recording and some clips soon too on @GoodTimeShowCH. And shout out to @TomJWhiteIV for putting together this awesome summary!