Proof of Passion

NFTs and The Act of Ownership  Something NFTs allow you to do is identify that one true super fan who is willing to pay a really high amount and allow a creator to earn a lot off of not that many followers.  Not only can you identify them, but really you’re allowing them to identify themselves...  But it’s interesting that transactio... See more

This is the power of valuable NFTs: they are high in social capital and utility, and moving higher in entertainment. They hit the social network trifecta.

What’s groundbreaking about crypto is that it shifts the web from social currency to economic currency. When I like your Instagram post today, I grant you some social capital; what’s the equivalent for the cryptomedia age? Me “liking” your content may mean me financially investing in your success and sharing in future income. Maybe Spotify’s Year i... See more

Today, top creators are rewarded with inefficient virtual currencies (e.g., likes/follows) and cash from a centralized platform. In the future, creators will build a new form of status through these community-driven NFTs which they own through their private key and can directly redeem for money.

To give you a sense of what’s possible, I want to get back to the idea of NFTs as tokens on the internet for representing social achievements and social contracts. NFTs are a more important achievement than you might think, because we’ve managed to package this atomic unit of culture and community - fitting in, and standing out - and capture it, al... See more