NFTs are the most effective distribution channel for IP, as a result, the category will redefine e-commerce
The current state:

- IP is created, managed, and distributed with a top-down approach

- Digital content is static, with limited financial or economic utility

- the Internet is effectively permissioned
NFTs are a tool for e-commerce

1. They remove the need for intermediaries
2. Provide programmability of value
3. Redefine customer acquisition costs
Without the reliance on intermediaries, every interaction supersedes any one platform

virtual goods will organize themselves outside the boundaries of any one intermediary
NFTs are programmable

We've seen this with
- royalties
- secondary sale splits
- NFT gated access

NFTs are virtual goods but they are also contracts.
Customer acquisition costs are driven down

@cdixon discusses this in NFTs + 1000 True Fans

when users become owners, every NFT is fueled by community and peer-to-peer marketing
NFTs will increasingly be used as a distribution tool

- airdrops to existing NFT holders
- incentivized access
- NFTs that morph over time
- NFT "referral programs"
bottoms up IP will unlock the creative commons

we've seen this exemplified by @nounsdao @BoredApeYC

the power of the IP is fueled by the community (who are also creators) and distributed via the NFTs
we've already seen a flurry of business model innovation

some may look similar to the past (e.g., membership/access)

others fundamentally change how creators get paid
(e.g., play-to-earn or secondary royalties)
brands that succeed will seed their community with NFT experiments and educate users along the way

to shoutout a few that I believe embraced NFTs authentically

@bobbyhundreds @AdamBombSquad

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More from @_kinjalbshah

8 Sep
service DAOs are unbundling work

in a web3 world, we need to rethink the firm 👇
Blockchains unlock is trust and coordination at scale

These take the form of decentralized networks, with on-chain incentive mechanisms

Blockchains allow for coordination without needing to trust intermediaries
The nature of open source projects is that they 🤪 What does this mean:

- many contributors for any given project
- often work first, reward second OR grant driven
- freelancer model

@nayafia's work on open source is an excellent resource to learn more
Read 16 tweets
7 Sep
How to do research in crypto:

1. Identify the scope of what you’re trying to learn
2. Write out a list of questions
3. Gather sources

This includes scouring @theblock @coindesk @theblockworks @thedefiant @bankless @unchained @forefront and many others
4. Utilized advanced search or lists to better understand crypto twitter’s commentary

5. Take notes while you read, but make sure you are identifying the key q’s and a, as well as any gaps
6. Consider any primary sources that would be helpful (e.g., reach out to friends, teams, comm members)

7. Spend time in the community discords

8. If there is a product, test it out

9. Try to explain what you’ve learned to a friend or yourself

10. Iterate from there
Read 5 tweets
21 Aug
1/ Collector DAOs are having a moment - here's why I think they'll evolve into digital powerhouses alongside museums, galleries, and historical institutions

I'll cover
- formation
- curation vs. investment
- types of Collector DAOs & more
2/ Most Collector DAOs were formed in the last year, I may be missing a few, but here’s the lay of the land:
3/ I find the guiding principles to be admirable

@FingerprintsDAO was formed on the basis that the smart contract, not the token, is the art.

@whale_community is an attempt to disrupt the traditional “collector” industries by creating a social token backed by high-value assets
Read 13 tweets
28 Mar
I'm a believer in the long-term potential of NFTs.

but I also know there are many open questions and grandiose claims today

vision is important, but the devil is in the details.

Here are 20 Q's about NFTs I'm thinking about:

1. What happens when an NFT is issued on multiple blockchains?

2. If the original media is destroyed (e.g., tweet deleted) what does that mean for the NFT holder?

3. What will standard metadata and best practices look like?

4. Should metadata always be on-chain?
Rights Management

5. How are digital rights managed in a world where NFTs are issued on-chain?

6. What happens when IP develops after the NFT is minted. For example, an NFT is created and then the IP becomes really valuable down the line.
Read 10 tweets
17 Sep 20
1 / For anyone stumbling upon DeFi wanting to know WTF happened this summer - here’s a high-level summary
2 / liquidity mining 👩‍🌾👩‍🌾👩‍🌾

A short-term growth strategy, where users provide liquidity in exchange for rewards, with the goal for incentivizing long term stickiness

Designs vary by timing, $ amount & recipient

COMP was the OG -- but liquidity mining is now table stakes
3 / CeFi 💕 DeFi

Binance and FTX leaned in with Binance Smart Chain and Serum

Jump Capital is market making for DeFi

Coinbase is listing tokens faster than ever (aka $UNI) and has a rumored upcoming token listing product.

More to come
Read 12 tweets

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