Personal Tokens & NFTs Meet in NYC!
NFT.NYC was a blast! As community manager for meTokens, I had the chance to demonstrate my passion for supporting creators by learning about their projects, as well as introduce them to personal tokens!
In attending NFT.NYC I wanted to find the most optimal way to introduce NFT artists to personal tokens. Over three days I met with creators, attended events, and sparked conversation with anyone in passing with the common crypto question, “What are you building!?” The answer was NFTs in the form of film, sports, sports, fashion and of course, art. .
NFT.NYC Quick Recap
NFT conferences attract a larger crowd than Ethereum conferences because of the multi-chain nature of NFT’s, but I still got the opportunity to connect with some Ethereum builders. We jammed on web3 communications platforms and how decentralized identity will change the world.
Amongst the 1,000 speakers, my favorite talks were Rebuilding DeFi with NFTs as the Base Layer by John Patten of TreasureDAO and Customized Dynamic NFTs by Patrick Collins of ChainLink Labs. These talks inspired me to give my own presentation on meTokens on the Unconferenced Stage!
NFT.NYC also opened a stage for anyone to give a presentation — and you guessed it, I presented on “personal tokens for NFT artists.”
Using meTokens, each personal token is worth more to the artist than anyone else. No matter whether someone is buying, selling or spending the tokens, an artist will earn a portion of the value. Additionally, the trustless nature of personal tokens as a collateralized asset built on top of a custom automated market maker creates incentives for other holders to spend with the artist. Ultimately, a personal token could become a revenue stream for the artist by allowing others to speculate on the future demand of an artist, and further incentivize long term holders.
People seemed interested in the concept, and were familiar with the concept of personal tokens, given the history of social tokens in 2020. There was skepticism from some, but overall, the crypto community as a whole needs more incentive to work, as opposed to just raising money.
Key Takeaways About NFTs and Personal Tokens
In just three days, I found two important takeaways about NFTs and personal tokens.
- People want trustless personal tokens that work for themselves.
Selling art is a full time job, and issuing tokens can be another full time job. Artists need tools that work for them!
NFT Artists are tired of using different crypto strategies for marketing, and are ready to use crypto as infrastructure to help them everyday.
2. People need a better understanding of tokenomics.
Not everyone in crypto has a financial background and the idea of equations and variables are often foreign to users. Creators need confidence that any token with any financial incentive is pump and dump resistant and creates incentivized benefit for all parties.
Gracefully, these two principles are at the core of meTokens protocol.
Overall, the conference was a great time full of community, energy and excitement. Ten stages across seven venues and 15,000+ people, you could feel innovation sparking at every corner. Super excited to follow the creatives in the NFT space, and hopefully by next NFT.NYC everyone will have a meToken!
