Funding Creative Projects with Non-Fungible Tokens
We launched SuperRare with the aim of putting non-fungible token technology tools in the hands of creators. We figured that if we built the platform for people to create and trade crypto art and collectibles, artists and creators would come up with much more interesting and innovative ways to use it than we ever dreamed.
And, it’s happening sooner than we imagined! Last week, Mark S. started a campaign using SuperRare to fund the creation of his new cartoon series by selling a collectible version of the first character in the series. Peatar, a cute, squeaky-voiced crime fighter, was ‘held ransom’ and only freed when someone paid 1 ETH for his freedom. (Happily, he was freed in less than a day!)
Mark is using the funds from the first Peatar collectible to produce another episode of the adventure, which will have another collectible offering, continuing to bootstrap the creation of the series.
Additionally, if Peatar is bought and sold by more collectors in the future, Mark will automatically receive 10% of those sales, continuing to fund the project.
This is a glimpse into a new, powerful way to crowdfund creative projects using NFTs and smart contracts. It allows fans to participate and support a project they believe in, as well as speculate and benefit from its success.
You might ask, beyond generosity, why would someone buy a new character from an unknown animator for hundreds of dollars? Well, imagine if you could have bought a single-edition digital collectible of the first-ever Bart Simpson. Or Cartman. Or Pickle Rick. For projects that go on to reach millions of people, the early collectibles are undoubtedly going to be worth a lot.
For collectors, crypto-collectibles are a perfect asset. It is easy for anyone to verify the origin, authenticity, ownership, and price history. You can display your collection in a growing number of wallets and digital displays (stay tuned for an announcement related to this!) And if you’re looking to sell or trade, you have access to immediately liquid markets, not only in the SuperRare marketplace, but any integrated NFT/ERC-721 exchange.
We’re super excited to see what new ways people come up with to harness NFTs for creative project crowdfunding — there’s already another project in the works from DJ J-Scrilla:
I recently released a song/video for free on YouTube called “Can’t Smoke A Bitcoin” and I’m exploring different ways to share and fund it using blockchain tech. Part of that experiment involves using SuperRare to sell an exclusive high resolution gif as an NFT, created by video director Emoji Nakamoto and myself. The piece is a combination of the analog drawing I did, and Emoji’s deep neural net. It’s listed as a collaboration between us under the alias SCRILLMOJI.
Have any thoughts/ideas about NFTs for creative crowdfunding, or interested in starting your own project with SuperRare? Apply here or give us a shout at firstname.lastname@example.org.