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LGHTBased: I Need a Dev!
In August I minted Based. “A token for the early adopters.” Open for the whole month, it closed just shy of 46.5K tokens minted and over 33k unique wallets. The most resonant piece in my young onchain discography by many multiples. Immediately I felt understanding emerge in regard to Jack Butcher’s words about his Checks and Opepen projects. Retrofitted for this post, he spoke of the impetus to experiment with each collection (initially just single-piece open editions) coming after seeing the...
LGHTThe Greenpaper: What it can mean for you to "join Higher"
Co-authored by: Jihad Esmail & LGHT.ETH - Higher is an internet destination: a vibrant network of designers, developers, artists, writers, entrepreneurs, and athletes, leveraging open technology to work ourselves into our dream lives. Higher is a network for your ambitions, for refining your worldview, and creating the world you want to see among people who get it. Every day, we push each other to achieve new heights, explore new ideas, and create new experiences. Members have created athleti...
LGHTConcept Markets: Using ERC20s for Concept Proofing & Higher Production Hit Rates
Pre-context for this paper:The commodification of content using ERC20sUsing content interfaces that have memecoin backends to create concept parityRough theory of the funnel:IdeaConceptCoin the metadataGather market cap, trading volume, holder distribution + social media metricsManufacture what has proven demandHere are two examples you can view market cap, volume, and holder distribution:Custom Atlas ATVs.Would be a premium ticket, ultra-high cost item. Requiring tens of millions in market c...
>14K subscribers
LGHTBased: I Need a Dev!
In August I minted Based. “A token for the early adopters.” Open for the whole month, it closed just shy of 46.5K tokens minted and over 33k unique wallets. The most resonant piece in my young onchain discography by many multiples. Immediately I felt understanding emerge in regard to Jack Butcher’s words about his Checks and Opepen projects. Retrofitted for this post, he spoke of the impetus to experiment with each collection (initially just single-piece open editions) coming after seeing the...
LGHTThe Greenpaper: What it can mean for you to "join Higher"
Co-authored by: Jihad Esmail & LGHT.ETH - Higher is an internet destination: a vibrant network of designers, developers, artists, writers, entrepreneurs, and athletes, leveraging open technology to work ourselves into our dream lives. Higher is a network for your ambitions, for refining your worldview, and creating the world you want to see among people who get it. Every day, we push each other to achieve new heights, explore new ideas, and create new experiences. Members have created athleti...
LGHTConcept Markets: Using ERC20s for Concept Proofing & Higher Production Hit Rates
Pre-context for this paper:The commodification of content using ERC20sUsing content interfaces that have memecoin backends to create concept parityRough theory of the funnel:IdeaConceptCoin the metadataGather market cap, trading volume, holder distribution + social media metricsManufacture what has proven demandHere are two examples you can view market cap, volume, and holder distribution:Custom Atlas ATVs.Would be a premium ticket, ultra-high cost item. Requiring tens of millions in market c...
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Share Dialog
Share Dialog
There are two parts to The Obvious Series:
Simple explanations for newer entrants
Abstract wtf are we doing here reflections
A non-replicable digital item existing on the blockchain ledger.
An NFT is an ownership token. Its existence is verifiable on the blockchain and undeniably proves the holder’s ownership of whatever asset it ‘contains’. Some assets that leverage this technology include:
art (generative, visual, ai, etc)
music
podcasts
videos
blogs
ebooks
game assets
deeds to a home
certificates
portfolios
tickets
collections of other NFTs
voting weight in an organization
People often confuse the asset with the NFT, and in some sense it’s not incorrect, but the technical truth is that an NFT is a token proving you own the asset it points to.
Digital ownership is an abstract concept to many.
Why would I pay for that when I can just right click and save it?
Part of this dissonance is due to the trends set on the social web. You post on Instagram, or Facebook, or TikTok, Twitter, Tumblr, Reddit, or even your own website. Who owns the digital footprint?
You may say “I do because it’s on my account.” But who owns your account? You then may say “me, because I’m the only one who can log in.” But what if you get banned?
We can not confuse origin with ownership. Even though there are value opportunities available to the originator of an idea, data, concept, artwork, etc, the lions share of the value goes to the owner of it. Take a look at the app store data-capture-details on various apps. There’s a reason they make us sign away rights to it. Data is digital gold.
If you’ve heard that term used elsewhere it’s likely they were talking about crypto. And in the context of this essay it makes perfect sense why.
NFTs are containers for digital data. They allow the originator of data to simultaneously become the owner of it. This is one of the most fundamental shifts on the internet since its inception.
Now a valid counter question here is:
How is this valuable if other people don’t want to engage with it?
And the only real answer I can provide is that this is the natural filter for all innovations of interdependent value mechanisms. Fiat currency is backed by nothing beyond mutual agreement on its value mechanism. Social media is backed by a mutual agreement on its value. Entertainment is the same.
All non-essential (shelter, food, clothing) innovations in human civilization only become valuable when we agree they are valuable. NFTs will be no different.
If enough of us agree that ownership of our digital data is valuable then NFTs will become valuable. If not, then they won’t. But honestly… which do you think is more likely?
There are two parts to The Obvious Series:
Simple explanations for newer entrants
Abstract wtf are we doing here reflections
A non-replicable digital item existing on the blockchain ledger.
An NFT is an ownership token. Its existence is verifiable on the blockchain and undeniably proves the holder’s ownership of whatever asset it ‘contains’. Some assets that leverage this technology include:
art (generative, visual, ai, etc)
music
podcasts
videos
blogs
ebooks
game assets
deeds to a home
certificates
portfolios
tickets
collections of other NFTs
voting weight in an organization
People often confuse the asset with the NFT, and in some sense it’s not incorrect, but the technical truth is that an NFT is a token proving you own the asset it points to.
Digital ownership is an abstract concept to many.
Why would I pay for that when I can just right click and save it?
Part of this dissonance is due to the trends set on the social web. You post on Instagram, or Facebook, or TikTok, Twitter, Tumblr, Reddit, or even your own website. Who owns the digital footprint?
You may say “I do because it’s on my account.” But who owns your account? You then may say “me, because I’m the only one who can log in.” But what if you get banned?
We can not confuse origin with ownership. Even though there are value opportunities available to the originator of an idea, data, concept, artwork, etc, the lions share of the value goes to the owner of it. Take a look at the app store data-capture-details on various apps. There’s a reason they make us sign away rights to it. Data is digital gold.
If you’ve heard that term used elsewhere it’s likely they were talking about crypto. And in the context of this essay it makes perfect sense why.
NFTs are containers for digital data. They allow the originator of data to simultaneously become the owner of it. This is one of the most fundamental shifts on the internet since its inception.
Now a valid counter question here is:
How is this valuable if other people don’t want to engage with it?
And the only real answer I can provide is that this is the natural filter for all innovations of interdependent value mechanisms. Fiat currency is backed by nothing beyond mutual agreement on its value mechanism. Social media is backed by a mutual agreement on its value. Entertainment is the same.
All non-essential (shelter, food, clothing) innovations in human civilization only become valuable when we agree they are valuable. NFTs will be no different.
If enough of us agree that ownership of our digital data is valuable then NFTs will become valuable. If not, then they won’t. But honestly… which do you think is more likely?
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