Thread by @AnthonyLeeZhang

Prediction: in the near future, every luxury good (handbags/clothes, wine, cars, etc) will have an NFT associated, and Instagram will integrate and allow linking NFT's to photos. I post a photo of me with a fancy bottle of scotch, and the NFT to prove I actually bought it

70% of the point of buying luxury stuff is to instagram about it. Now, at the moment, a nontrivial % of ferrari instagrams are "hey look at this ferrari on the street let's pretend we own it". NFT's would solve this

Now, why couldn't I just borrow a friend's ferrari NFT and instagram using it? Well, if I use the code, my friend can't also use it, and again, 70% of the point of the thing is to post it on instagram...

(At least) two possible designs actually:

1. Each code has a limited # of tag uses by design
2. Each code has an unlimited amount, but I can click to see all other photos using the same code. Easy to tell whether someone has borrowed a Ferrari

@instagram feature request! (Though probably won't work until more luxury firms have NFT integration)

@instagram From discussion with @RiedBN, realized another benefit of this: luxury goods are naturally durable, which is bad bc it creates a second-hand market and lowers primary market prices

https://twitter.com/AnthonyLeeZhang/status/1419351812264579079

But Instagram-linked-NFTs, being effectively single-use, effectively makes luxuries single-use and thus non-durable. Once a good has been single-use-instagrammed, much of its status value is gone

As some pointed out, there's an element of "those in the know, know" and these things don't work if they're too obvious

https://twitter.com/sc_cath/status/1419359098731126785

But one can lean into this also with clever product design: perhaps do a "quiet/soft launch" so there's a way to check authenticity of an instagram, but it's not announced broadly. A couple digits at the bottom of the pic or something. Like the gold serials on common projects

Signal-boosting @tmychow's idea as a way to "hide in plain sight" an authenticity signal

https://twitter.com/tmychow/status/1419379180052090882