4 replies
4 recasts
12 reactions
Great perspective. I think the answers you're looking for are right in front of us, to be honest, but hard to see because this industry has been building "backwards" for years.
At the root level tokens are data. They're literally App Data.
We're minting random data, but we have no apps.
That's like creating a PSD file and then hoping someone builds Photoshop.
The industry keeps creating the data first and then hoping an app shows up to use it. Marketplaces are a great first app, they're always the first to pop up, but rarely does anything else more useful come along. And predictably, as attention dwindles the prices go down and down and it's a mess.
The Zora/Collectible issue would make so much more sense if users experienced them through an app/mini-app first.
Imagine if the first experience was via a “Fan Club” mini‑app:
- Fan Club shows an artist you follow has an upcoming private AMA and it says "Collect this post to get in!"
- It then shows another artist has VIP tickets to an underground show for people who buy 10,000 of their $ContentCoin
The app is first. The usage is clear: A specific feature in this app is unlocked when you collect this token or these coins.
- The NFT/coin is the app data and it's the receipt.
- The secondary market is a nice‑to‑have, not the primary focus
So to me it makes total sense to have a 1/1 over here, and 111/1,000,000,000 over there. It's like having both Header.PSD and Header.JPG because Photoshop can do more with the PSD, but YouTube only accepts JPGs. They're just file formats.
What's confusing everyone is there's no apps,
just this bunch of random data waiting to be used.
I’m with you, everyone should keep experimenting, keep minting when it serves the creative flow, we definitely need the data to be created. But also we need to build the apps that give those receipts real functionality ASAP. 0 reply
0 recast
0 reaction