nicholas 🧨
@nicholas
Loose thoughts on “Will NFTs ever be a thing?” NFTs are a tradable data standard. You could store/generate the same data on a contract with no tradable asset. So the question can become “Will people want to trade unique data again?” The answer is an obvious yes, but whether this behavior emerges again within the same virtual machine and according to the same standard is not obvious. What problems did nfts have that could be better solved by a new or reinvigorated nft meta: - data that appeals to non-crypto native users never consistently arrived - most nfts remained static assets bc short term speculative narratives stronger with static data (in round 1)
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whimsi
@whimsi.eth
think for me i still want to see NFTs linked to RWA as a form of legit checking / digital receipt in which the transaction is only legit with both parts i.e. buy a louis vuitton bag, get bag + nft 'receipt' (minted by louis vuitton) which allows buyers to validate the item and follow the history all the way back to the factory and allow them to contact other buyers to confirm legitimacy does nothing for speculating on NFT prices but it's the best real world application that i can see working where a user doesn't even know it's technically on-chain (UX would be through the website, attached to their email address that they ordered from with transferring the token to be part of the resale process) unfortunately i think NFTs really require being involved in a whole ecosystem for them to have 'real' value as opposed to speculative value, an example where we've seen nft success is sappy seals
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whimsi
@whimsi.eth
just to add, i think the cost of entry for a normal person looking at NFTs is just ridiculously high - i understand we're currently in a meta where 'fractionalised' NFTs (as tokens) are becoming a thing but wouldn't really say they make someone feel like they own something personally surprised i haven't seen more ecosystems that involve 'customisation' then i can decide how i want to split my mint costs - do i buy 1 base model or multiple? - now i get to mint 'traits' - maybe i like hats more than t-shirts, so i mint 5 hats and only 2 t-shirts - finally i would combine hat+tshirt+basemodel to create my unique pfp that has the ability to be modified (and be able to disassemble my pfp without losing any items) - then add other 'standard' game mechanics like combine 3x 'normal' rarity t-shirts to RNG a rare rarity then i'd love to see different items adding some kind customisation (pfp border, text style etc.) on something like wc or x - this could be achieved either by partnership - or a chrome extension
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