Queens, NY
Joined February 2020
He knew.
a16z Announces Trillion Dollar Fund to Appropriate Everything
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A next wave of innovation will be NFT projects uncoupling the membership from the asset. Soulbound NFTs will represent the network. Their advantage is they are more plastic than pfps or other financialized assets. This isn't intuitive because they are non-tradeable, but...1/12
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By separating the network from the crypto casino, you break the stranglehold scarcity has on the community while maintaining the market advantages of scarce items. This gives you a more flexible organizational model to work from. Easier to expand, add new peeps...2/12
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While also retaining folks faced with a cash out dilemma. This dual NFT model separates values from value, by giving each their due. Take punk minters. That's a badge of honor that isn't very composable onchain. Now think about what the network of punk minters have spawned 3/12
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Significant creators, collectors, traders & givers had their NFT origin as punk minters. Many of them are still in tight social networks that aren't formally represented onchain. That punks was a free mint mattered too, because it's a voluntary association of shared passion. 4/12
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A soulbound NFT needs no underlying economic model. It just needs shared interest & personal connection. It's offshoots are then free to adapt to whatever model makes the most sense for a derivative effort. 5/12
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Membership models today are stuck with one primary option for growth: Create a yielding tree of value that's also a binary choice. Hold asset & hope for more value OR sell out, leave the community & miss whatever comes next. 6/12
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Soulbound plasticity changes a community from a yielding tree to a hydra that can invest, can give, can create and can collect because the formal onchain association of people is uncoupled from one economic model. There are no longer binary choices. 7/12
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Resilience & adaptation are a function of diversity within large populations. Maintaining kinship via soulbound NFTs allows people to explore in different directions without needing to conform to the shackles of scarce object economics. 8/12
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I can design. You can collect. They can give. Each forges a different experiment without breaking the underlying kinship. Each can join or depart without being exiled from the core community. The model exists offline, but lacks the coordination advantage of being onchain. 9/12
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Finally, the separation insulates the human connection from the vagaries of the market. Monetize at the edge, keep the core pure. NFTs have beat alts because they are illiquid, but we haven't tested NFTs against an illiquidity drought yet. 10/12
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We are also only operating in a world of culture & finance. What happens when labor really goes onchain? What happens when social services & action emerges? Unbundle association from scarce object value while keeping the onchain interop and a network can really evolve. 11/12
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There's nothing radical about this. It's just upgrading design patterns so that onchain models can better emulate the fluidity of IRL network behavior. What's most precious shouldn't be exposed to the front line of the markets. Pull it back a layer and be more enduring. Fin.
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the tension between developing an idea & being lazy
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Strong rec for this book.
Replying to @ledgerstatus
I kept ignoring the recs for Reminiscences of a Stock Operator but it really is excellent.
Show this thread
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Summer, no rain mood today. Frag #260 by @MonicaRizzolli
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these veecon tweets are like single sided emissions we never staked into
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Unbundling burgers and fries was a line in the sand. We’ve fallen too far now
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Just ran the @TheLAOOfficial @FLAMINGODAO @DarkHorseDAO Zoom marathon in 4 hours and 21 mins.
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Wrote a check to the NYC Water Board today. Nice to see branding hasn't achieved 100% penetration yet.
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