NFTs are media. Media changes its audience. Just as TV changed people, NFTs change people. We are opting out of episodic television & replacing them with NFTs. This transition means we are going from consuming scripted stories to living stories in real time without fixed ends..馃У

Jan 4, 2022 路 10:04 PM UTC

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pfp projects in particular are running the same plotlines over & over. There's been an insatiable demand to participate in "the rise of" storylines. There's variation to the story....rise & fall, rise & rug, rise & rise higher, rise & feud, etc..but it's the same basic plot.
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If you don't realize you are participating in a new form of entertainment & actually helping to define its core archetypes, then you are not fully seeing the space or how it plays out.
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We are a swarm that LARPs. The novelty is that we are hooked on planting seeds vs stripping crops. We get off on watching things bloom. Over & over again, hence the popularity of the "rise of" storyline that's dominated the last year.
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Good projects bloom throughout a season. They can pull the swarm back again & again to gawk & feed on them. Great ones run multiple seasons, but they are all episodic in nature and they are entertainment in which the community are both actors & audience.
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Your NFT bags are largely characters & mementos of episodic entertainment. Some are elevated and can be called art. Some are minor characters from a shit show that failed to thrive. What they will not do is quench your thirst. NFTs are media meant to be communally lived in rt
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Communal participation in a lived story with no known ending - that is the hook that got us to turn Netflix off & go crazy on NFTs. That is the defining characteristic of this new media. If your NFT is episodic (i.e. it requires an ongoing storyline to maintain its value)...
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Then you better realize your role as actor & audience. You better realize that you & everyone else are a polygamous swarm hopping from project to project in real time. You better realize that everyone is always moving on to the next next things.
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Some of these things are going to be forgotten. Attention = liquidity. Lose one and lose the other. If you are holding NFTs that are not recyclable across projects or not from the best shows this year, then do it for love of the experience & not expectation of appreciation
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If you are building projects expecting permanency and audience capture, then reconsider the medium you are working in because this isn't it.
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There'll be few permanent metaverses. They'll be the equivalent of global cities. The rest built in this cycle will end up ghost towns. By then people will realize how flash mob participatory this crowd is & build out tooling to spin up episodic metaverses
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We'll also come to realize NFTs for what they are and devalue episodic ones significantly. We'll realize that when the story is done, there's a damn good chance their inherent value is too. After that it's just a memento.
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If you want long term appreciation, start thinking about what elements in your bags are recyclable. Can you use them in the next story and the next? If you are in this for fun, for entertainment, then realize that and play accordingly.
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In the end, NFTs are networked experiential media that are replacing scripted broadcast narrative forms. We are creating a new medium here, one that's meant to be lived communally in real time. Have fun with it, because it's entertainment....always has been.
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