Thread by @MGH_DAO

Why did MGH DAO join the @fluf_world which is coined to be the Music and Entertainment #Metaverse of tomorrow?

A thread...

1/ PFP #NFT projects have been flooding @opensea and #cryptotwitter due to the rise in popularity of #cryptopunks and #BAYC for a long time now. PFPs date back to the beginning of the internet where people uploaded pictures of themselves to represent their personas on the web.

2/ #web3 and its ownership-focused character has allowed users to demonstrate the ownership of their profile pictures and therefore add a lot of value to their jpegs. The value of these #NFTs can actually be explained with help of the theory behind mimetic desire.

3/ Memetic desire can be described as the idea of people wanting what they want because other people want it too. According to @lukeburgis, the value of objects is subjective because we assign value to things by desiring them according to what other people want.

4/ Many #NFTs have practically no real utility. They just sit in the owner's wallet and jet somehow they are very valuable. This is because of mimetic desire. People value #NFTs because other people value NFTs, building in the process a desirability-centric pricing mechanism.

5/ However, the frens at @NF_Labs and @beyonvrgames changed this completely by designing an ecosystem where their #NFTs have multiple layers of utility, creating hereby a new form of intrinsic value. Firstly, #FLUFs are animated PFPs with a high degree of customization.

6/ Then they have their #metaverse pets called thingies as well as their friends: the @partybearNFT in charge of the music. Here, the ecosystem is also collaborating with music OGs such as @GinoTheGhost and @SnoopDogg himself.

7/ Moreover, FLUF World #NFT holders fully own all commercial rights to their acquired characters, allowing their owners to extract any type of value from them. Also former #NFL player and NFT OG @DezBryant already entered the FLUF World ecosystem:

https://twitter.com/dezbryant/status/1481132111432237059?s=21

8/ If this wouldn’t be enough, #FLUF World partnered up with @altstatemachine to supercharge #FLUFs with intelligence by allowing them to earn yield in #P2E games and act autonomously in the #metaverse when their owner is not around.

9/ Each #FLUF is able to mint a burrow - the real estate in FLUF World, designed by @beyondvrgames - which will be the place of social interaction as well as breeding for the community. Each type of burrow comes with LANDs that will be key for the mechanics of #FLUFWORLD.

10/ All these factors, together with the valuable #NFT drops related to the ecosystem make #FLUFs part of the category “NFT on steroids”.

11/ The MetaGameHub DAO is all about #MetaFi, we see that #NFTs such as #FLUFWORLD will be a game-changer in terms of the yield generating possibilities and collateralization.

12/ The #MGH DAO is also all about inclusion. It is very probable that the scarcity of #FLUFs will lead to the #NFTs from the ecosystem (Avatars, LANDs, in-game assets) becoming too expensive, leading to many people being left out from this amazing ecosystem.

13/ For all these reasons, the DAO will be committed to foster the adoption of the #FLUFWORLD by creating tools such as a valuation model for FLUF LANDs and a FLUF NFT pool, while leveraging the @oceanprotocol and @chainlink ecosystem to make the data seamlessly accessible.

14/ The MGH DAO is a collaborative project so if you feel that this thread resonates with your perception of the #NFT market, apply to any of our working groups and help us achieve our vision to make the open #metaverse inclusive and transparent. metagamehub.io/contribute

/15 Just #FLUF it!