novalunosis 🌌
@novalunosis
why is everybody underallocated to NFTs ? Memes are the social cohesion for people & NFT's are literally Memes
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Trigs
@trigs
Because jpgs are free. What's the upside to "owning" a meme? Until there's a value prop here that resonates, nfts as memes doesn't hit.
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novalunosis 🌌
@novalunosis
I would argue: Free to watch but not free to own. People still want to flex by owning something and be part of that community
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Trigs
@trigs
I would argue that no, they don't. Because of the point of the OP: People aren't buying nfts that are simply memes. The narrative doesn't land because there's no real value proposition. It sounds like a good idea to some, but it doesn't land with the masses. Nouns is one of the biggest successful nft projects and while they promote a lot of memetic qualities in their community, the nfts themselves aren't actually memes. Just membership cards. That's what ppl want to own, apparently! Being a member of nouns means something, but owning the memes of nouns doesn't.
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novalunosis 🌌
@novalunosis
I think NFT’s could be valuable for a number of reasons: Ex. Vaneck buys pudgy penguin and by doing that they are perceived more crypto-native and become part of the pudgy penguins crew. As a company by buying an nft from a certain collection you infiltrate a follower base. And get community support Ex. Rektguys launching energy drinks and using their follower base to grown their sales of drinks. The consumers of energy drinks also have the opportunity of buying a part of the brand just as you could buy a part of the brand “red bull”
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Trigs
@trigs
Ah lol I took too literal of a definition of memes. The post right before yours was showing an in-keyboard "meme creator" and I was imagining inserting an onchain step in that process to mint them onchain and my thought was, nobody wants that because jpgs are free. The use case you describe is exactly what I was thinking about the actual use of nfts, as a component of memetic craft but not literally just memes, lol. Great follow-up, thanks!
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novalunosis 🌌
@novalunosis
Great convo ☺️ cheers ☺️!
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