balajis on Warpcast

balajis pfp

NFTs have evolved into at least four categories. First, there are name NFTs like yourname.eth. These are the easiest to understand because they are just like domain names or usernames. Next, there are profile NFTs like Bored Ape. These have value because they are like club memberships, and people make them part of their public identity. Next, there are Zora-style content coins like horse (see reply), which update the art NFT model by setting up a market for every Instagram-style post. Buyers buy these coins to show appreciation for the creator, to speculate on how much more popular a given post will get, and sometimes to show (via onchain timestamps) that they’re early to spotting new talent. Finally, there are micro-NFTs that just represent onchain data, akin to “typed likes”. Many social actions are now cheap enough to record onchain.

44 replies

140 recasts

644 reactions

balajis pfp

The innovation of @zora style content coins over 1-of-1 art NFTs is simply that there is always a buyer, at *some* price, for a content coin. Because they have Uniswap as the buyer. Whereas art NFTs are much more illiquid — so you can buy, but it’s harder to sell. Moreover there can be as many buyers of a Zora-style content coin on a post as there are viewers. [1]: Horse is a viral mint by @jacob that illustrates what Zora could be. A monetized Instagram. https://zora.co/coin/base:0xf1fc9580784335b2613c1392a530c1aa2a69ba3d?referrer=0x3a5df03dd1a001d7055284c2c2c147cbbc78d142

13 replies

21 recasts

168 reactions

Igor Yuzovitskiy pfp

Igor Yuzovitskiy

“There’s always a buyer” key point, for 3 years NFTs have tried to implement some form of this. Zora’s flawless execution of this model should be studied

1 reply

0 recast

4 reactions

niftytime pfp

Zora coins offer a different speed of collecting - the fastest 1/1 NFTs represent the opposite end of the collecting speed collection with limited editions and open editions filling out the middle Interesting to note the relative drop in value as speed increases with these different types of collectible assets

0 reply

0 recast

1 reaction

Daniel Lombraña pfp

Daniel Lombraña

And music nfts. I miss those deeply.

0 reply

0 recast

1 reaction

Cool Beans 🌞 pfp

Cool Beans 🌞

@coolbeans1r.eth

0 reply

0 recast

2 reactions

gmworld pfp

Sharing my beautiful horse made with the newly released Zora AI.. I love this style of instagram for sure.. ;) https://zora.co/coin/base:0x3a87e58fc487c22d08e5164f5ee7409e3112f321?referrer=0x5d44fa5aa81b1d325c7ff326785e3fc98b1e3b3f

0 reply

0 recast

1 reaction

Marcin pfp

0 reply

0 recast

0 reaction

LG pfp

0 reply

0 recast

0 reaction

DrCrypto96 pfp

0 reply

0 recast

0 reaction

Zer8 pfp

100%, Zora will be the new instagram

0 reply

0 recast

0 reaction

Pissou Base.eth pfp

Pissou Base.eth

0 reply

0 recast

0 reaction

Alena OilSorcerer 🎩🔵 pfp

Alena OilSorcerer 🎩🔵

0 reply

0 recast

0 reaction

ŁΞℕ♾ℕ ⛃ 🎩 pfp

ŁΞℕ♾ℕ ⛃ 🎩

I love the evolution of NFTs, however, they do not see them in a certain way to support the creator, there are few cases like that, rather to get bags, that's what it's all about, or that's the way they see it, although there are several with utility no doubt.

0 reply

0 recast

0 reaction

Vino pfp

run baby run :)

0 reply

0 recast

0 reaction