Not-So-Fungible Weekly #5
Non-Fungible juiciness for the week just arrived!
Blockchain week in NY is FINALLY over. I’m exhausted, but non-fungibles are not! Lots of interesting developments this week that you might have missed, so I’ll jump right in.
Here’s what you may have missed in week 5:
🔔Non-Fungible Major Announcements🔔
0x announces support for the trustless trading of ERC-721. Now artists can get paid for their work with stablecoins like DAI! Consumer adoption of non-fungibles is getting one step closer…
Second layer experiences are now partnering with second layer experiences. This creates additional utility for a standalone ERC-721. Maybe soon we’ll start to see Crypto Kitties olympics to have more second layers interact? (Fighting first, then racing with Kitty Race, and finally swimming to eat as many fish as possible with Fishbank)
- The Playful Paradigm Shift by Jacob Horne — This long winded post on NFTs is one of the most in-depth about potential value creation with digital assets. Non-fungible tokens allow us to capture value with interactions on the web. NFT = [Information + Owner + Creator] = Value
- Fear of Crypto Copycats by Tony Sheng — Permissionless development is nice. We can extend the utility of non-fungibles by building on top of open-source code. But this poses a major risk — forking and copying code used by these large projects. What does this mean for blockchain projects? Tony explores the tradeoffs in his post.
- The Decentralization of Non-fungible tokens by Brian Flynn — I’ve been exploring “distributed brands” using non-fungible composables and token-curated registries. “Brands” are a single non-fungible with smaller non-fungibles inside representing a reputation status of the total brand. Can this be done with token-curated registries?
What’s 🔥 in NFT Twitter
Creators, users, and developers have financially aligned incentives to grow the game. All your users are now ambassadors. All your users are now affiliate marketers. Your community creates your marketing campaign by building tools on top of your creation.
How can fungible tokens as a consumable interact with non-fungible tokens? Will this give more value to first-layer experiences? Can we blend real-world value experiences? We could buy a Coke, scan a QR code on the can, acquire a “Digital Coke” in a wallet, and use that digital Coke to affect certain cattributes.
As far as Blockchain week goes, the amount of NFT content was a let down. Still really early in experiences that are being created. Are NFTs not being talked about because the profit opportunity isn’t as apparent as fungible tokens? 🤔
Starting to see some NFT playgrounds come to life! Check out this tower made in decentraland made by @acl_crypto!
NSFW Collectibles on SuperRare! 🙌
I’m always exploring ways non-fungibles can interact with content, so I’ve decided to partner with SuperRare to release a unique collectible each week. Here’s the collectible for WEEK 5:
You can bid for this piece on SuperRare here.
How cool would it be to say you earned the first collectible edition of the not so fungible weekly? Shoutout to Brennan Letkeman for the awesome gif.
As always, I’m super stoked about talking to others about the possibilities of NFTs. If you want to talk about NFTs, or anything crypto related, drop me a line on twitter @flynnjamm, my DMs are always open.
Want more non-fungible updates? Sign up 👇