Part 1: NFT 2030, Yay or Nay?

Blockchains and the environment

  1. Join the Clean NFTs Discord channel
  2. Read the Unreasonable Ecological Cost of #CryptoArt

Are we anywhere near to financialization of NFTs?

Source: Masonnystrom
  • Fractional, where you can buy, sell and mint NFTs.
  • Charged Particles, a protocol that lets you put digital assets inside your NFTs. Now, ordinary NFTs (think neutral molecules) can contain a digital “charge” inside — ERC20, ERC721, or ERC1155 — giving you the power to create nested NFTs. If you can digitize it, you can deposit it into your NFTs.
  • Unic.ly, the protocol to combine, fractionalize, and trade NFTs.
  • NFT20, a protocol where you can trade, sell and swap NFTs.
  • NFTX, A community-owned protocol for NFT index funds on Ethereum, that allows you to unlock liquidity in many popular NFTs.
Source: Taetaehoho

So, NFT 2030… yay or nay?

  • The shift to proof-of-stake after Ethereum’s merge will benefit NFTs in the long term. People are excited since, especially since someone paid just 36 ETH in fees to mint an NFT ever after the Merge. Plus, as mentioned, this merge represents a ground-breaking change in energy consumption for the industry.
  • Massive players such as Starbucks are continuing to invest in the space, with the so-called new “Starbucks Odyssey” experience, which sees coffee lovers earning and buying digital collectible stamps to unlock access to new experiences.
  • Grammy award-winning producers are now helping to create music for a Bored Apes NFT band. These creators previously collaborated with the likes of Justin Timberlake and Beyonce.
  • The application of NFTs is expanding even further, this time in performing arts. With the hope of capitalizing and exploring alternative revenue streams, the Washington-based Spare Parts Puppet Theatre is collaborating with NFT communities, in order to launch their very own Doge puppet NFTs.
  • Investment in NFT projects is very much ongoing: On Tuesday, non-fungible tokens collection Doodles wrote that they had raised $54 million at a $704 million valuation in a funding round led by Seven Seven Six. Also on board were 10T Holdings, Acrew Capital, and FTX Ventures.

What you should now be asking yourself

  1. What is your biggest concern about the carbon emission caused by blockchains, and what do you think should be done to address it?
  2. In an ideal world, how do you “get rich” out of NFTs? Do you think governments will be open to adopting new policies and regulations in which NFTs can be accepted as a widespread asset to buy and sell?
  3. What do you see as some future use cases of NFTs that have not been discussed?

Other good reads

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