In this thread, I’m going to display the outright astonishing use cases of NFTs. There are zero limits with these digital tokens, & I’ll show you exactly what I mean… (I was too excited to not share this a tad bit early) 🥐
For the last few months, I have been diligently experimenting with different NFTs through many dApps, in an attempt to push the “norms” As a content creator, I was left with quite the predicament here: I wanted a way to monetize some work, without sacrificing my core values
I didn’t want to sacrifice any income, interoperability, decentralization, or the fundamental values of 𝘰𝘸𝘯𝘦𝘳𝘴𝘩𝘪𝘱 to centralized platforms I needed to do it in a “web 3.0” native way. So, what did I do?
This is where things start to get very interesting… I made a website with articles on various topics in DeFi, then began exploring my different options for monetization. First were ads. but it was here that I quickly learned there were no options other than Google Adsense…
Google Adsense also takes upwards of 32% of revenue from their creators, so it wasn’t a viable option for me. I won’t even go on to mention their moral incompetence revealed in newly released documents detailing just how much they take in from their monopoly…
Ads also don’t make much sense economically. They pay out arbitrarily low profits to creators based on how many eyes they can get; rather than based on the quality of their content. This is why clickbait is such a problem. My content also targets a very specific audience…
These issues left me with an evident obstacle that I had to figure out how to overcome The solution? Memberships. but not just any memberships, these memberships will be represented on the blockchain I found that this then opened up a new world of mind-blowing possibilities
Remember my website described in the previous tweet? With help from Unlock Protocol, I’ve made it so that only holders of a specific NFT can view special pages on the site Once connected, the rest of the article is revealed. Take a look 👀
NFT holders will also be given the ability to leave comments on the website, along with many other features & you only have to purchase them once. Bakery NFTs can be bought with $ETH, or $USDC They can even be purchased with a credit card, doing stablecoin txs on the back end
But it gets even more interesting. Since these memberships are tokens on the blockchain, they are not bound to any specific platform to function. They can be freely traded on the secondary market, bought, sold, or even lended! (oh, and each comes with their own pastry 😉)
->Bob hears from a friend that there was alpha on croissant’s podcast in episode 222
->Bob purchases Bakery NFT and gets access
->Bob sells Bakery NFT on secondary market after viewing content
Speaking of other platforms, this Bakery NFT wouldn’t properly be showing off the capabilities of new web 3.0 technology if it weren’t platform interoperable So… the same NFT that gives holders access to special research on the website, also grants roles in a private discord!
Still not impressed? Well, the NFT will also give newsletter access, & many other things I’m excited to share later: (interviews, analytics, discourse, tweets, etc) The NFTs can be integrated with just a few lines of code. Even a partner website could use my NFT on their site!
Worried about gas? No problem! The Bakery NFTs will be deployed on Optimism, Arbitrum, Polygon, and many other layer two networks Interactions besides purchases only require message signing (no gas) A percent of gas spent is also refunded on each purchase, with tokens
Don’t like my content? Within a specific time frame users can get an instant, pro-rated refund by burning the NFT..
The memberships will have two tiers: Tier 1 - exclusive, no time limit, limited supply, VIP access, pays out dividends of tier 2 (TBD) Tier 2 - basic access, unlimited supply, 30-day subscription I will release more info on Bakery NFTs soon, keep an eye out for updates!
I have worked very hard on these, in the hopes to start a movement of something greater within the creator economy. I’m not a shadowy super coder, but the infrastructure is there to build and start something even bigger with Web 3.0. What I’m offering here is true ownership.
Let’s see some less talk, and more action from influencers.
Why are we so busy tweeting about blockchain, instead of using it in the real world?
I’m tired of this space being synonymous with scams and meme coins.
NFTs give ultimate power to the creators. They will bring about an interesting synergy aligning the community with economic incentives.
I will be incentivized to write better content, & my followers will also be incentivized to share it
These are some powerful network effects
Never before have content creators been able to connect directly with their fans, in such a programmable + platform-agnostic manner. & I’ve just only begun to scratch the surface of what can be made with such technology
Yet no one talks about it… Let’s change that! 🥐
This Tweetstorm courtesy of @CroissantEth