Status Monkeys - By Packy McCormick - Not Boring by Packy McCormick

Social networks reward early adopters, and a social network with money baked in gives early believers a double-whammy. Go explore. Find an NFT that resonates with you. Join a PartyBid. Get involved. And for the love of god, don’t be one of those older folks that scoffs at NFTs.

PartyBid makes NFTs more social, with a literal party upfront and the opportunity for hundreds of people to buy, own, and manage expensive NFTs together in the back.

NFTs tick a lot of the boxes of a successful social network from Eugene Wei’s Status-as-a-Service.

-Displaying a Punk that you don’t own as your profile picture is frowned upon.

It wasn’t that network effects and Metcalfe’s Law were wrong, it was just that they didn’t capture the reasons that someone might use a social network beyond pure utility, so Wei proposed a new framework for analyzing social networks’ strength that added social capital to the mix.

-Punk owners often use the image of their Punk as their profile picture (PFP).

On the deflation side, social networks can get less cool as more people join. The canonical example here is what happened to Facebook when parents started joining: all the young people left for Instagram and Snapchat. Social networks need to be analyzed based on more than their network effects... There are three axes for analyses: Social Capital, U... See more

'-Owning a Punk is a status symbol, like owning a Ferrari or an expensive handbag.

Bitcoin issues bitcoin (BTC). Twitter “issues” followers.