Community Reaction: Yeh! Like you buy event tickets and get an NFT add to your status or social profiles for that year like saying this was one of the events that really defined my life.
Disruptive Brains: One of the greatest things with blockchain is that people can bypass web2 platforms. Web1 and Web2 were very similar to 1970s TV networks. Web3 is way different, thus fragmenting ownership.
What NFTs do for music, is they allow artists to create a whole new container of novel experiences – directly to the audience. A decade social media was a joke, a fraud, like the internet. Just like with blockchain now. Same pattern over and over again.
We are still in extremely early days. We need stability components, mixed with novel solutions, with interoperability between them. Governance needs to evolve for this to break through in society. Capital and talent goes to where friction is the lowest.
Media news networks had all the distribution and regilation, then the internet came and lowered frictions. A very similar phenomenon will happen with banks. Banks that survive, will have to tokenize themselves. People won’t self-custody, wealth will sit on top of protocols.
Code, blockchains and applications instead of state, fiat, and banks. Things take time, and there are massive challenges. It is so difficult to be an entrepreneur in crypto protocols. Data is so transparent, with massive benefits – a whole new way of doing due diligence.
The industry has not been disciplined and smart enough, but things take time. Finding equilibrium is very difficult, battle-testing protocols is almost impossible to do without large risks. The onboarding of young generations in the past few years is vast.
Internet was able to move information between borders without intermediaries. Now it is the first time that value can move freely without gatekeepers. What to do in a bear market? Good exercise is to go back in history and use bear market to build reputation and sharpen skills.
Historically, we will look back this as a digital renaissance” put the crowd on an extremely innovative time machine, connecting history with the future.
Music will reshuffle with composability of content Equity empowerment for creators to improve substantially Decentralized & collaborative creative work is dawning People will be able to back artists early, like VCs.
With NFTs People can participate in content generation in 1000s of new ways, like bootstrapping tattoo-artists, i.e. NFTs powering all types of businesses. Collateralization of NFTs will be massive & disruptive. Price-oracles are the primitives of the financialization of NFTs.