π πΉπ²πππΌπ» πΆπ» πͺπ²π―π― π°ππΉπππΏπ²: ππ΅π² @RTFKTstudios #mnlth π±πΏπΌπ½
Regardless of who I'm working with, when, or on what, I always at some point tell them the following: if you don't understand the CULTURE of #web3 , the project won't fill its potential.
π§΅
Regardless of who I'm working with, when, or on what, I always at some point tell them the following: if you don't understand the CULTURE of #web3 , the project won't fill its potential.
π§΅
The reason I believe that is because #Web3 isn't just about tech. I would dare to say it's mostly not about tech. It's about a change of paradigm and the evolution of how humans perceive the digital realm.
That affects everything: UX, UA, marketing, community, partnerships, the whole shebang.
Here's a wonderful example that happened over the past 24 hours. Go to this link: lnkd.in/dR2xqnvK
Here's a wonderful example that happened over the past 24 hours. Go to this link: lnkd.in/dR2xqnvK
This #NFT is called #mnlth and it was designed/developed by @RTFKTstudios, known for AR apps, artist/#CryptoPunks collaborative shoes and many other experiences, but most recently for their #CloneX #pfp NFT drop and their acquisition by @Nike .
I have absolutely no idea what this #NFT does or is going to do but it's currently selling on the secondary market for around $12,700 USD each and this morning I received 4 of them. For free. 19,996 others were also distributed. How? Why? Who is benefitting from this?
@RTFKTstudios has developed a reputation for continuously delivering value:
* Through their ecosystem
access to premints
redemption of physical goods
use in virtual worlds
* Through partnerships
e.g. @themetakey
* Through building cool things
AR products and apps
* Through their ecosystem
access to premints
redemption of physical goods
use in virtual worlds
* Through partnerships
e.g. @themetakey
* Through building cool things
AR products and apps
No matter what they release, it's always in high demand thanks to that.
For every CloneX NFT you held, you were dropped one MNLTH.
Holders > received value
RTFKT > produced revenue without direct sales
Marketplaces --> receive their cut of every trade
For every CloneX NFT you held, you were dropped one MNLTH.
Holders > received value
RTFKT > produced revenue without direct sales
Marketplaces --> receive their cut of every trade
It helps that this is the first #NFT with @Nike 's logo on it, which is exciting, but @adidasoriginals had a drop and it didn't go the same way. They wanted to squeeze juice out of customers too quickly.
Also to note, RTKFT chose to mint these on #Ethereum, not #Polygon, likely due to their understanding of how the ease and accessibility (read: cheapness and affordability) of Polygon Technology chain affects value of items.
It's funny, someone started a rumor that these might be automated mini-factories that let you produce physical @Nike goods that you can order/redeem/claim/sell.
Even if that's not what they are, we all believe that @RTFKTstudios could pull off something like that. That's not the kind of belief you acquire from customers overnight.
Summary: using a formula of trust built over time , combined with the tech that allows for NFT royalties, interoperability, and more - RTFKT have turned a 240 ETH profit in creator royalties without a single direct sale in less than 24 hours.
That's #web3 culture.
That's #web3 culture.
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