Read on Twitter
0/ NFT proponents often like to say that NFTs - unlike physical collectibles - don't have wear and tear
This is presented as a feature
But, what if it's a bug?
This is presented as a feature
But, what if it's a bug?
1/ If you are a world class collector, you can keep your physical collectibles in pristine condition
Shoes in boxes
Art wrapped up, in temp/moisture controlled rooms
etc
Shoes in boxes
Art wrapped up, in temp/moisture controlled rooms
etc
2/ But not all collectors will go to those lengths
So over time, inevitably, physical collectibles will wear and tear
So over time, inevitably, physical collectibles will wear and tear
3/ Which makes the ones that are maintained *even more valuable*
"ultra sound money" lol
"ultra sound money" lol
4/ So, what does that mean for NFTs?
5/ Well, I think an interesting design space is going to be introducing wear and tear for digital collectibles
Literally destroying value.... because you can... even though obviously the format can maintain collectibles in pristine condition forever via @ArweaveTeam
Literally destroying value.... because you can... even though obviously the format can maintain collectibles in pristine condition forever via @ArweaveTeam
6/ This could be based on time, or blockchain transfers, or maybe some other wacky inputs
It may even create a market for.... fixing NFTs to bring them back to pristine condition?
It may even create a market for.... fixing NFTs to bring them back to pristine condition?
7/ Could be the foundation for an NFT-based income market!
Get those yields! Build those DCFs!
Get those yields! Build those DCFs!
8/ If you're iterating on these ideas or building in this space, my DMs are open!
h/t @ballmatthew
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h/t @ballmatthew
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