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RE: I Made My Own Valentine's Day NFT's

in Liketu3 years ago

Certainly, for the most part, owning a Crypto Punk or BAYC gives the owner social credit. And some collect, just because they like them, such as yourself with Hive Punks. A gallery is clearly a place to display your own enjoyment, but is also used to flex their social/digital prowess.

However, I think a gallery can also include NFT's with utility to display alongside NFT art. NFT's with utility may not be artwork in a traditional sense, but they hold as much value. If someone saw a Liketu member with an NFT that provides access or had access to a special event, in that member's profile/gallery, it provides that member social credit. I liken it similar to badges or achievement awards.

I don't think NFT art and NFT's with utility have to be mutually exclusive within the same space. That's not to say there won't be some speed bumps trying to find the right balance.

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I was quite interested by the IreneDAOs lately because they are in a way both "art" and "utility"

The issue of course, is that they're more akin to securities, especially when they grant some kind of financial reward for holding them. The value of them then, will essentially boil down to the popularity of the person issuing them, along with their ability to raise other metrics of "value," similar to how a company would pay dividends to their holders from profits earned in their activities.

We are in agreement that a gallery is an important place to show-case any and every NFT you own. But I don't consider that a core value proposition, instead a value add. Utility is one example of a core value proposition, but outside of speculation or hype, I'm still unable to see value beyond an individual buying them if they really liked it.

It's sort of like asking someone if they would buy a Rolex, but can't tell anybody about it. Are you buying the brand, the recognition, the social credit, or is that some what baked into the product itself?

Back to the point of the whole discussion though, in what way would you see Liketu offering meaningful NFTs which go beyond 2d pictures. We discussed the gallery pass model, that's something I have considered before as an extra "vip" kind of tier in our existing tiered content streams, but what else?

Great question. Just off the top of my head, collecting NFT's, then possibly burning them, to get access to an exclusive NFT, exclusive access to content or a Discord membership, or a raffle for a Hive Punk or Splinterland card.

What I like about the HIVE community is the level of engagement and the community helping each other, and so however Liketu changes to implement NFT's, should help support engagement.