In the past few months, pleasrdao ✨、 Nounsdao, paperclipdao, etc. gather together because of NFT.
The New York Times bought JPEG on the Internet because it is clear that this is the current trend. CT said that when the club closed, people would choose Dao.
I felt that the Dao universe was approaching a turning point, so I recorded some ideas about Dao.
"Art Daos" on Ethereum
1 - NFT is an identity symbol.
Nobody Peruggia bought an alien encrypted punk worth $7.5 million, which can better experience the future of online identity than the 3D virtual character lil miqueila.
Video can be forged, but blockchain cannot.
NFTs has no platform identity, and no instagram, Twitter or any country can prohibit it.
NFT shows who you're allied with - a ticket to be friends with Mike Tyson, Gary VI or a group of monsters.
It's a bit like football, but cheering does help your team win the game. Winning will obviously make you happier.
2 - NFT is an expression.
People spend billions of dollars on NFT. Opensea has surpassed eBay.
The famous DJ wears bored apes, and pengus is printed on the cover of the new Yorker.
On the one hand, profit seeking behavior is everywhere; On the other hand, creators learn to design valuable games based on stories.
For smart people, financialization is not an end, but a new way of expression.
3 - the interweaving of art and economy.
"This artwork is always on sale" is the first digital art project to use haberg tax.
Euler beats pioneered the concept of permanent royalties in the music community.
Avidlines took the lead in launching a plan to create fair derivatives and turn NFTs into liquid assets.
Each collection may become a financial Petri dish.
4 - Dao is rising rapidly in the art world.
Sothebys has sold a work to Dao. Daos will bid for its auction soon.
Dao was buried in 2016 and reappeared a few years later. Now it is rapidly occupying a place in the art world.
Some Daos. Source: Cooper Turley
5 - truth and falsehood are hot topics in contemporary art.
For example, Banksy's fake documentary in 2010 is about a director who is not famous because he is too weird (MR brainwash).
Another example is Damien Hirst's 2017 film, which tells of a sunken ship full of unreal wealth.
Banksy's genius is that he won't tell you "it's false" or let you draw a conclusion about the "real situation".
True and false may appear at the same time, and doubt is also part of the story.
6 - value exists in the eyes of collectors and has always been.
This is not surprising for anyone familiar with Nakamoto coins, the protagonists in Banksy movies, or the sport that made Hirst famous (YBa).
Some collectors have greatly influenced others' views.
For example, Saatchi and Gagosian to YBa; Banksy himself is Mr. brainwashing; Elon Musk to bitcoin; Dao to NFTs.
7 - art is a psychological war.
Are you shocked when you find that the buyer of beeple worth $69 million sold his other 20 beeple tokens?
You will also find that Damien Hirst paid $100 million for his work - a skull with a diamond shell (and this is not his first "self-care portal").
Schelling point (English: Schelling point, also translated as Schelling point, or focus), is people's choice tendency without communication in game theory. This choice may be made because it looks natural, special, or related to the selector.
8 - the art that someone appreciates can last.
NFT, which can be completely reconstructed according to the blockchain track, has the same meaning to art as bitcoin has to money.
Anonymous assets, works of art with full ownership and cultural works of art that will not die as long as the Internet exists should be more lasting than NFT, which is just a "server token".
However, in the final analysis, community is the necessary condition for "reconstructing" anything.
As a fossil that nobody cares about, even a masterpiece is worthless.
9 - the design space is meticulous.
Was the coinage carried out through a white label contract or a custom contract?
Is the media stored on the server, IPFs / arweave, or chain?
Is it based on transaction data or contract data? What about metadata?
How many dependencies are needed to render the actual artwork?
These choices will not determine the success or failure of a project, but will open up new conceptual approaches.
Artists who recognize these problems will stand out (for example, Robin Sloan attracted a man-machine relationship with his amulets Series).
10-nft is a powerful concept.
Rich encrypted punk owners want to use encrypted punk to build an animation world.
Autoglyphs has attracted a large number of programmers to study its instruction set.
Perhaps the "Mona Lisa in the Internet Age" will no longer be just a work, but a powerful concept that urges people to constantly reinterpret themselves.
Autoglyphs is a collection (512 works), and its instruction set is completely located on the Ethereum blockchain. The reserve price (minimum selling price) soared in 2021.
Differentiation: divide an NFT into several parts.
Reflexivity: in short, mutual determination.
11- $ Where and $B20 were the first to "go out of the token store".
There won't be many buyers on the market to buy beeples worth $100 million.
So you put a lot of collections into the vault and give control of the vault to a contract.
In this contract, a token is minted to measure voting rights and set a reserve price for the whole collection - a bid higher than the reserve price will trigger an auction.
Token holders can veto a bid at will, and each veto will raise the reserve price.
12 - up is a blessing, down is a curse.
It is similar to the ICO boom in 2017——
Token issuers raised billions of dollars when they were short of funds and did not have enough liquidity investment, so it has become a common phenomenon to invest funds in other ICOS.
Illiquid wealth is used as a "supplementary fuel" for the economic cycle and increases earnings. Chris burniske wrote about this "Reflexivity" in 2018.
13 - differentiation is also a form of NFT collection.
Differentiation may have reflexive risks, but it can also provide "emotional attachment" of NFTs without mobility constraints.
Team collection is as interesting and profitable as individual collection.
For example, millions of fans cheer for having a part of cro NFT; Another example is to replace Cristiano with alien punk, or any "meta universe hero" who will participate in the 2040 E-sports Olympic Games.
14 - what is the social purpose of the museum?
Preserve national history? Inspire creators?
Educate citizens to make more contributions to society? Help people integrate and create a common culture?
"Get rich returns from extremely illiquid asset classes"?
Or are they all?
15 - museums may have an amazing bottom line.
The Met's listed assets are worth more than $100 billion.
In contrast, unrestricted income (excluding subsidies, donations, etc.) is insignificant, about $100 million (about 0.1%) in 2019.
Masp, the largest museum in Brazil, has a collection value of more than US $2 billion, with an income of about US $2 million (about 0.1%) in 2019.
The museum is like a liquidity pool with billionaire TVL (total lock-in value), but it is very small.
16 - museums are content distributors.
Exhibition is the main product of the museum, but exhibition is only a formal name for various items and stories.
The art collected in the museum carries potential energy and leads to discussion.
Museums are content distributors, especially in the digital age.
17 - Art Dao to innovate.
Almost all museums are maintained by charities or funded by the state.
Gift sales, licensing and art transactions account for only a small part of revenue.
In terms of design, the museum is more like a concrete cultural warehouse than an abstract cultural treasure house (like GIT).
"Art Dao" can rely less on and innovate more - intellectual property can be seen more like fortress night than the Louvre.
18 - Dao is no less than a museum.
Fingerprintsdao recently integrated its large autoglyph collection of synthetic derivatives (NFT Art).
The resulting 512 products generated a transaction volume of about $6 million in 15 days (the cost of Dao is about $70000).
By year, this is the same as the revenue of Brazil's largest museum in 2019.
19 - Art Dao has a bright future.
There is an old question in the field of encryption: "what are the benefits of protocols compared with similar companies?"
If art is a trillion asset with annual sales of $70 billion to $100 billion, how big should the target market of art Dao be?
After all, does the concept of a $1 billion art Dao sound crazy?
The market value of some major NFT art collections (collection size x reserve price) divided by "historical quantity". From a smaller supply to a larger supply. Like pictures, if they attract rare and enough collectors, smaller supplies can add value through fewer transactions.