balajis on Farcaster

balajis pfp

NFTs have evolved into at least four categories. First, there are name NFTs like yourname.eth. These are the easiest to understand because they are just like domain names or usernames. Next, there are profile NFTs like Bored Ape. These have value because they are like club memberships, and people make them part of their public identity. Next, there are Zora-style content coins like horse (see reply), which update the art NFT model by setting up a market for every Instagram-style post. Buyers buy these coins to show appreciation for the creator, to speculate on how much more popular a given post will get, and sometimes to show (via onchain timestamps) that they’re early to spotting new talent. Finally, there are micro-NFTs that just represent onchain data, akin to “typed likes”. Many social actions are now cheap enough to record onchain.

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balajis pfp

The innovation of @zora style content coins over 1-of-1 art NFTs is simply that there is always a buyer, at *some* price, for a content coin. Because they have Uniswap as the buyer. Whereas art NFTs are much more illiquid — so you can buy, but it’s harder to sell. Moreover there can be as many buyers of a Zora-style content coin on a post as there are viewers. [1]: Horse is a viral mint by @jacob that illustrates what Zora could be. A monetized Instagram. https://zora.co/coin/base:0xf1fc9580784335b2613c1392a530c1aa2a69ba3d?referrer=0x3a5df03dd1a001d7055284c2c2c147cbbc78d142

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Kaloh | Indexy.xyz 📊 pfp

Kaloh | Indexy.xyz 📊

What about "ART" NFTs? Fidenzas, Ringers, Refik's? These are equally or even more valuable than Apes and aren't pfps or club memberships.

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Joe Petrich 🟪 pfp

Joe Petrich 🟪

You're missing the most traded type of NFTs, tokenized physical collectibles on platforms like Courtyard.io.

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typeof.eth 🔵 pfp

typeof.eth 🔵

Nit, but Zora style content coins aren’t NFTs as they’re explicitly fungible. Horse is an ERC-20 that is associated with a piece of media. Or to say it the other way, it’s a piece of media tokenized as an ERC-20 Does this matter to a layperson? Probably not!

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amelielasker.eth pfp

amelielasker.eth

Fifth there are media NFTs like /alexandria and /tortoise where people can build their digital bookshelves and vinyl collections

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Red pfp

Dynamic art is something to put in thoughts as well

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megabyte pfp

Are social actions by bots worthy enough to be coined on @zora for generating some side revenue? or is this something always tied to the social image of the creator?

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Peter pfp

NFTs are the most underrated tech in crypto imo. The overfinancialization of NFTs stalled its innovation. Tokens-as-an-index is a (over)simplified explanation of how to look at it. I see future of NFTs as qualitative force to blockchains. Focus has currently been on the network improvements - next stages of innovation will include NFTs enriching wallets and accounts with attributes and depth - enabling more personalized experiences.

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William Mougayar pfp

William Mougayar

How about NFTs that change their properties based on conditions or actions. Dynamic NFTs. Eg event ticket or inside a game.

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Callum Wanderloots ✨ pfp

Callum Wanderloots ✨

@wanderloots.eth

Also real world asset NFTs, backed by something in the physical world

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Catch0x22 pfp

strongly suggest artists 100x the micro use zora type coins lock you to a platform, use it as distro and don't take it seriously profile NFTs are largely untapped imo. think brands like doodles are much higher EV than BAYC. until i see a major political party run by someone using one of these as a pfp i think there's a tonne of potential cc: @lambchop wen PFP collection name NFTs are lowkey the most centralised thing in crypto last I checked but they are fun

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0xdesigner pfp

that last one sounds important. examples?

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Mr Medra pfp

Appreciate this breakdown 🍄 With ERC-20i, we’re introducing a fifth category: Programmable NFTs tied to fungible token balances. $Fungi evolves with you your token balance creates a unique onchain inscription that updates as you grow. It’s: — Art — Identity — Market — Memory All in one. Fully onchain. A living token standard for the onchain social era.

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LazyFrank pfp

I see no reply fam. Type faster! 💨

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beebeehem pfp

NFTs have evolved so much since 2020/21. One thing is certain, we haven't seen the end of this evolution and I think RWAs in particular will further send NFTs to heights unimaginable

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sky.⌐◨-◨ pfp

How about NFTs representing every single non-fungible financial asset or physical asset? On-chain and real world tokenized assets. Basic example is every single Uniswap v3 and v4 LP position. Other real world asset example are the collectible cards on Courtyard or the wine via digital corks on Club dVIN

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base pfp

totally agree! NFTs are dead? No, just changing and expanding would be cool to use mfers as pfp example O-‘

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SeeingBlue pfp

https://zora.co/coin/base:0x101bea24356ee530c9fda5f7f4ac98a91126fdbd?referrer=0xe7fa4cb18240f9f91165ae5babc07715b55d2e31

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Babooun pfp

We could also add the less common programmable and licensing NFTs in this bestiary, used for some bot access in the degen/defi space.

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