A THREAD on most thought provoking tweets on NFTs, DAOs, decentralization++ by @jbrukh:
1/
NFT volume (GMV) will probably eat the art world in the next few years.
It’s almost laughably inevitable.
The art world globally transacted about $50B in 2020.
NFTs did $3B in August.
1/
NFT volume (GMV) will probably eat the art world in the next few years.
It’s almost laughably inevitable.
The art world globally transacted about $50B in 2020.
NFTs did $3B in August.
2/
Most people parse NFTs as digital art and collectibles.
But the most exciting view of them is financial technology for uniquely valued goods.
First we solve the #NFTLiquidityProblem, then we build DeFi 2.0.
Most people parse NFTs as digital art and collectibles.
But the most exciting view of them is financial technology for uniquely valued goods.
First we solve the #NFTLiquidityProblem, then we build DeFi 2.0.
3/
NFT x DeFi products for loans, fractionalization, funds, marketplaces, issuance and exchange protocols (ie @raribledao) are creating the machinery for trading, liquidity, and curation.
NFT x DeFi products for loans, fractionalization, funds, marketplaces, issuance and exchange protocols (ie @raribledao) are creating the machinery for trading, liquidity, and curation.
4/
NFT innovation is decisively headed for financialization and gamification.
NFT innovation is decisively headed for financialization and gamification.
5/
Theorem (Brukhman, 2021).
If a digital asset value holds water, the asset is:
(1) a future cash flow, potentially governance-adjusted, or
(2) a social capital aggregating coordination mechanism.
...
Theorem (Brukhman, 2021).
If a digital asset value holds water, the asset is:
(1) a future cash flow, potentially governance-adjusted, or
(2) a social capital aggregating coordination mechanism.
...
...
If you view social token value as capital flows you are, proverbially, not going to make it.
That’s the key insight.
If you understand that digital assets are coordination mechanism, it should then be obvious why generative art NFTs have higher asymmetry and bigger market.
If you view social token value as capital flows you are, proverbially, not going to make it.
That’s the key insight.
If you understand that digital assets are coordination mechanism, it should then be obvious why generative art NFTs have higher asymmetry and bigger market.
6/
What do different groups see when they look at NFT DAOs?
Gen Z: modern financial tech on modern social tech.
Lawyers: volatile assets traded by unincorporated general partnerships.
Investors: asymmetric opportunity with low transaction costs and high risk...
What do different groups see when they look at NFT DAOs?
Gen Z: modern financial tech on modern social tech.
Lawyers: volatile assets traded by unincorporated general partnerships.
Investors: asymmetric opportunity with low transaction costs and high risk...
...Banks: passing fad showcasing efficiency tech before regulatory consolidation.
Crypto People: a massive improvement in coordination technology over fungibles on exchanges.
Boomers: pictures on a website.
Crypto People: a massive improvement in coordination technology over fungibles on exchanges.
Boomers: pictures on a website.
7/
So far, DAOs have been doing capital allocation and funds have been doing portfolio construction.
Now, DAOs are about to start doing portfolio construction.
So far, DAOs have been doing capital allocation and funds have been doing portfolio construction.
Now, DAOs are about to start doing portfolio construction.
8/
We are in a phase of massive, wholesale institutional failure.
The outcome will be massive, wholesale institutional decentralization.
We are in a phase of massive, wholesale institutional failure.
The outcome will be massive, wholesale institutional decentralization.
9/
Access to crypto is a political issue and that issue is about personal freedom.
The more governments ban crypto around the world, the more of an issue it becomes.
Access to crypto is a political issue and that issue is about personal freedom.
The more governments ban crypto around the world, the more of an issue it becomes.
10/
The difference between crypto people and normals is that normals regard the status quo system as axiom and crypto people regard the disruption of that system as axiom.
The difference between crypto people and normals is that normals regard the status quo system as axiom and crypto people regard the disruption of that system as axiom.
11/
Crypto is truly on the intersection of tech and finance.
And art. And climate. And social media. And data. And programming languages.
And toys. And sports. And research. And writing.
And creating economic opportunities and empowering creators and customers.
Crypto is truly on the intersection of tech and finance.
And art. And climate. And social media. And data. And programming languages.
And toys. And sports. And research. And writing.
And creating economic opportunities and empowering creators and customers.
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