PFPs like
CryptoPunks and
Bored Apes alone do not a smart NFT investment make. Nor do investments in virtual worlds like
Decentraland and
SuperWorld (no matter how much they try to cloak themselves in bringing a social impact element to the mix).
I mean, where are the ongoing benefits of “membership” into those Web 3 communities? And where are the barriers to entry/moats in a world of infinite virtual possibilities? Yes, all of those forms of “NFTs” give you immediate “flex” - and
promise ongoing value driven by the community itself. But, at this moment, they scream of “flipping” as being the primary motivation to hold those tokens - re-selling at frequently astronomical numbers.
“Brother, can you spare a few hundred thousand?” (And I do mean “brother” here. Have you noticed how male-dominated Web 3 is at this point? That’s a fundamental problem of inclusion that must be addressed in all its forms to achieve Web3’s core democratized vision.
Here’s what I like and fundamentally believe in - i.e., directly investing in (and supporting) artists, creators, musicians, experiences - even major sports teams (prediction: that will happen this year). I believe those kinds of Web 3 opportunities via “NFTs” and DAOs certainly may be smart investments for a variety of reasons (and not just financial). And I plan to be actively involved in those decentralized worlds.
Two obvious examples here: (1) in the world of music, superfans having an opportunity, for the first time, to financially support and promote their favorite artists and take a fractional share of the value/earnings they create (and even potential fractional ownership), not to mention ongoing meaningful “experiential” benefits that flow to those superfans only; and (2) in the world of film/television/games, producers having an opportunity, for the first time, to achieve alternative financing via an audience fueled by passion and shared community (and give the audience real “ownership” - in all its forms, not just financial - as well as ongoing exclusive community benefits).
DJ
Steve Aoki’s new token-based VIP “membership club” (the “A0K1VERSE”) points the way - as does UK-based Ditto Music’s
Opulous NFT platform (which enables fractional ownership of music IP and ongoing earnings). Meanwhile, while I like the concept (and analyzed the opportunity myself),
Coachella’s new limited edition of 10 NFTs fall short with less than exciting ongoing - and differentiated - exclusive benefits. It feels more like a quick money grab that was cobbled together. A long-lasting “community” with shared incentives and real differentiated value (in all its forms, including potential fractional ownership) is what I believe ultimately “matters” most. I expand on my views in my recent interview at Burbank’s “Tech Talks”
(see below).
For these kinds of lasting, real Web 3 opportunities, don’t get too caught up in “NFT” terminology - which understandably connotes a certain level of market froth to many at this point. I think it is likely that the kind of lasting blockchain-powered opportunities in which I believe ultimately will go by a different name. And one more critical thing - these are my perspectives only. NOT financial advice.
In addition to my perspectives (including per my video below), check out the other important viewpoints that range the gamut - via my interviews with some of the world’s leading VC’s, experts and voices in the space - and via key videos I have curated for you. Lots of great material below. The promise. The hype. The risks. The impact on our lives and society in general. Once you watch and/or listen to these (both audio and video podcasts are available below), your understanding of Web3’s promise and pitfalls will be expanded. And likely transformed. I urge you to spend some real time with this content. There’s a lot here - all of which is important and valuable.
