Five ways you WILL be using NFTS
Five ways you WILL be using NFTs
NFTsConcept:Non-fungible - cannot be put together or split apart: Cash v GoldToken - Transactional itemsWhat you’re buying is a one of a kind coin - unique d...
Show Notes:
Concept:
- Non-fungible - cannot be put together or split apart
- Cash v Gold
- Token - Transactional items
- What you’re buying is a one of a kind coin - unique digital asset
Value Proposition over current framework:
- Tracing ownership more secure
- In long run, decentralised marketplaces drive down cost
- Start-up
- Operating
- Artistic standpoint
- Create animated art
- Democratised distribution
- Ownership
- Greater accessibility
- Trading
- Creation - distribution
- Ownership - lower barrier to entry
Opportunities:
Finance
- Collateral in DeFi
Gaming
- Bridging in-game economies to the broader economy
- Could potentially bridge 2 separate game economies
- Tom Clancy
- Securitisation of gaming skins, collectibles and other desired assets
- Broadens creator experience
- We can create skins, emotes and artefacts for a gaming ecosystem
- Examples
- Axie Infinity
- Sandbox
Communities
- Social tokens
- Membership
- Reward system
- Easily transfer ownership of social tokens within communities
- Bored Ape Yacht Club
Crowdfunding
- Creators with small audiences
- Social investing
- Selling membership
- De-couples value from overly commoditised metrics in the creator sphere
- Lee Jin - 100 True Fans
- Model
- Free audience
- Convert to Patreons and Donors
- Convert to loyal subscribers
- Why pay?
- Key - your not selling content, your content is selling your mission
- More in tune with audiences needs
- High price = high value add and expectance
Art