https://twitter.com/naval/status/1497003797377290254

Further, Shaan Puri & Ben Levy  says:

The word “exit” stood out to me. The most important products are “exits”.

For example, Tesla was an “exit”. An exit from gas guzzling cars. Airbnb was an exit from cookie cutter hotels.

Crypto is an exit. A life raft. A parachute to jump out of the traditional financial system.

Bitcoin to store your wealth. Ethereum to pay for compute. DeFi for lending & borrowing. NFTs for art and memberships. DAOs for collaboration.

There’s a **great talk by Balaj**i where he talks about the concept of “Voice & Exit.”

Voice is trying to change a system from within. Like when you file a complaint with the manager or vote for a new mayor.

Exit is when you leave the system for a better one.

One isn’t better than the other. But they are more powerful when both are an option.

For example, what good is your complaint if the person in charge knows you have no way to exit? That’s how Comcast can get away with shitty customer service, they know you don’t have an alternative.

Crypto is an exit from the financial system where governments print money and banks control who gets loans, credit, etc..

Don’t like inflation? Exit to bitcoin, with a fixed supply.

Don’t like your bank? Go Bankless and do your lending/borrowing/saving in DeFi.

Don’t like the country club? Exit to an NFT social club.

This is a powerful new mental model for me. Crypto is **exit **technology.

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People usually describe L1 blockchains as networks, e.g. the Ethereum network, the Solana network. This implies that blockchains are endlessly extensible like the Internet, or Telegram, or Facebook. If blockchains are networks, then network effects will dominate, and one blockchain will win.

But networks are the wrong analogy for blockchains. Blockchains are physically constrained*. *Blockchains cannot expand to infinite block space because blockchains require many independent small validators; if blocks were arbitrarily big, the blockchain would no longer be decentralized.

Smart contract chains are more like cities. If you embrace this mental model, then the dynamics around L1 blockchains becomes less mysterious.

Read here

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Hope you all are learning new things everyday.

Today we will try to know about what can go wrong in web3.

(apologies in advance for any typing error)

I am a web3 enthusiast and think that it’s the next step towards making web a better place. There are not much critiques in the space and those who claim to be one are not the one. Most have seen this video , where the host goes on to tell that NFTs are just an illusion and tweaks the facts to his comfort to support his narrative. Well some of the things were not entirely wrong but it seems that he didn’t get the concept correctly.

So I thought to take the matter in my hands and typing this piece. I am not an expert by I have tried to draw some points about what can go wrong (in the short/long term).

I deserve the right to be wrong. The purpose is not to say that web3 isn’t the future but to aware the BUIDLERS about how things can go wrong and what things to consider .

Well, many things can go south ways. Let’s look at some then :

• To Ethereum : Today most of our expectations are dependent on one man

Vitalik Buterin. Of course Ethereum will be there and is not dependent on him. But let’s hypothesize today that he says something like- he doesn’t believe in it and all this thing was a lie or (God forbid) he dies.What do you think will happen(at least in the short term)

• Majority of world don’t want it. : We all are assuming that slowly every individual will transact in cryptos, will buy NFTs , will work for DAOs and things like that. The no. of participation in the space is really growing but what if cryptos and NFTs don’t take off because people don’t care about decentralization, ownership, open source and all other things. Which by the way most people don’t care about privacy.

• We are living in CryptoTwitter Bubble : When we are part of cryptotwitter where everybody is a flag bearer of web3. We all are surrounded by people with same opinion as ours. Anyone saying that web3 is a bubble is criticized by CT and will be labelled in #ngmi category. And maybe due to this we are unable to see the hurdles.

• We are buying narratives : Most of us don’t know if decentralization will make the web better and we are just buying narratives as proposed by the ones who are in the space for quite a long time. No one thought that Facebook should share its profit not only with its shareholders but also with their users before listening from them. Maybe if Facebook had done it it wouldn’t have become what it is today. They(who are not creators themselves) say that 45% take rate is exorbitant but the creators themselves claim that YouTube is the best platform for creators and YouTuber is a title today.

• Pseudonymous Economy : Humans are Status-seeking-monkeys Humans want status. We all want status that’s why we are on social media. And we all are playing the online game. But if we become pseudonymous it defies the human nature.

• We are here only for the money : Creators are selling their works to their “fans” but what if they are just the flippers. They buy anticipating that they will sell it to other making a handsome return. And the person who’s buying it to sell it to other .They are not interested in anything but the money part. What will happen when the fans run out of money , supply supersedes demand, when the whales stop buying and shift to some other flex than NFTs and the 2008 crisis repeats for the same reasons.

• 15 years down the line we end up with the same things : Big tech, some corporations are even much more powerful than today’s and instead of getting rid of the middlemen we end up with much stronger and dominant gate keepers.

• Metaverse : We all think that metaverse will be a reality in coming decade . And maybe we need some headgears to be in it. Those head sets will be built by today’s giants(due to massive resources) and may be it will lock us. Once again they will monetize by selling us.

  • What if metaverse rivalry occurs just like the gaming industry where one device couldn’t communicate with other, interoperability problem and whole different issues.

  • They maintain their take rate of 30% and ruins the metaverse economy and once again the developers are left with nothing.

• DAO problem :

  • People are contributing simultaneously to no. of DAOs and get burnt out. And due to loose nature of it one contributor doesn’t have any connection with other.

  • Never becomes Autonomous (so maybe we have to call it something else)

  • Just because they don’t want to be like web2 company they mayn’t define clear roles and asking everyone to vote before taking every decision may lead to delay of execution.

• We may not go bankless as the base layer of every transaction will constitute bank but of course our interactions with it for different services may reduce given that everybody gets acquainted with the complexities of DeFi which we guess have a long way to achieve.

I am a full supporter of web3. And I am living it. But above were some of my thoughts on what could possibly go wrong. We will definitely have to face the chaos before we find the peace but that’s okay. We might have to pay the price in the short term to gain in the long term. One thing we have to do is KEEP BUIDLING. WAGMI.

(Anybody wants me to contribute in any possible way in their project I will be happy to do it , even if don’t get paid )

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“Creating value is not enough—you also need to capture some of the value you create.”

— Peter Thiel, Zero to One

There is a difference between the value you create and the value you capture. If you only create value you won’t be able to make a living. If you only capture value you’ll go out of business. Thiel writes:

For example, US airline companies serve millions of passengers and create hundreds of billions of dollars of value each year. But in 2012, when the average airfare each way was $178, the airlines made only 37 cents per passenger trip. Compare them to Google, which creates less value but captures far more. Google brought in $50 billion in 2012 (versus $160 billion for the airlines), but it kept 21% of those revenues as profits—more than 100 times the airline industry’s profit margin that year. Google makes so much money that it’s now worth three times more than every US airline combined.

Further as Eugene Wei writes :

Hipstamatic came before Instagram and was the first photo filter app of note that I used on mobile. But, unlike Instagram, it charged for its filters and had no profile pages, social network, or feed. I used Hipstamatic filters to modify my iPhone photos and then posted them to other social networks like Facebook. Hipstamatic provided utility but captured none of the social capital that came from the use of its filters.

Contrast this with a company like Musical.ly, which I mentioned above. They came up with a unique proof of work burden, but unlike Hipstamatic, they wanted to capture the value of the social capital that its users would mine by creating their musical skits. They didn't want these skits to just be uploaded to Instagram or Facebook or other networks.

Therefore, they created a feed within the app, to give its best users distribution for their work. By doing so, Musical.ly owned that social capital it helped generate. If your service is free, the best alternative to capturing the value you create is to own the marketplace where that value is realized and exchanged.

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A platform is when the economic value of everybody that uses it, exceeds the value of the company that creates it

— Bill Gates

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Further reading

• Platform matrix

• Gates understood before Jobs

• Chamath At StrictlyVC’s Insider Series

Stories are powerful. Really great storytellers are the beloved teachers who capture our imagination and whose stories guide us. They are the senators, governors, actors, and real estate developers who ride personal tales to become presidents. They are the writers who win Nobel Prizes. They are the directors who snag Oscars again and again and again and again.

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Almost any new technology initially has high unit cost before it can be optimized and this is no less true for electric cars. The strategy of Tesla is to enter at the high end of the market, where customers are prepared to pay a premium, and then drive down market as fast as possible to higher unit volume and lower prices with each successive model.

In keeping with a fast growing technology company, all free cash flow is plowed back into R&D to drive down the costs and bring the follow on products to market as fast as possible.

So, in short, the master plan is:

1. Build sports car

2. Use that money to build an affordable car

3. Use that money to build an even more affordable car

4. While doing above, also provide zero emission electric power generation options

   Don't tell anyone.

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By definition, economics is the study of how a society uses its scarce resources. And information is not scarce - especially on the Net, where it is not only abundant, but overflowing. We are drowning in information, yet constantly increasing our generation of it. So a key question arises: Is there something else that flows through cyberspace, something that is scarce and desirable? There is. No one would put anything on the Internet without the hope of obtaining some. It's called attention. And the economy of attention - not information - is the natural economy of cyberspace.

Read full article here .

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Further reading : tokens-in-the-attention-economy

Hope you all are learning new things everyday.

Today we will try to know about Personal brand.

According to PersonalBrand.com

A personal brand is a widely-recognized and largely-uniform perception or impression of an individual based on their experience, expertise, competencies, actions and/or achievements within a community, industry, or the marketplace at large.

Individual persons are becoming brands . They first make a community/fan following and leverages it to start their own venture.

Let’s see some cases :

• Logan Paul ( youtuber ) has ~ 24mm subscribers

  and KSI (musician) also has ~24mm youtube subscribers.

• 
  

They both partnered to launch their beverage brand.

• Twitch streamer Amouranth(5mm followers) turned investor committing $7 million to an inflatable pool toy company.

• Mrbeast has ~89mm youtube subscribers

And has ventured MrBeast burger .

• The Rock has 293 mm instagram followers.

And has started Teremana Tequila.Teremana Tequila has sold more than 600,000 nine-litre cases in 2021, solidifying it as “the fastest-growing Tequila in the history of all spirits”, according to co-founder Dwayne 'The Rock' Johnson.

• Fashion brands owned by celebrities.

• NBA player Langston Galloway started his own sneaker company.

• From reality television star to self-made entrepreneur, Jamie Laing is one of the industry’s most successful influencers and entrepreneurs.

  Started Candy Kittens, a sweet company for all ages

• Elle Darby, a blogger and youtuber has started her fashion brand AngelleCollection .

So influencers/celebrities are staring their own ventures which are becoming wildly successful as they have the support of their fans. This is personal brand.

And in near future this trend will only accelerate as most of the Gen-Z are aspiring to be entrepreneurs.

Once one gathers a large fanbase , the risk of starting the business significantly decreases. One could use their network to spread the message and the magic starts.

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Hope you all are learning new things everyday.

Today we will try to know about how NFT is entering into EVERYTHING.

Crypto is widely popular now and what is wilder than that is NFT. NFTs act as the link between the web3 and real world.

Nowadays we can see that a company buys an NFT to *join* a community and leverages it. Some restaurants/clubs are using NFTs as their tickets. Some are collaborating with NFT projects to make real world things or metaverse stuffs. Museums are displaying NFT paintings.

Everyone is doing something as they want to miss it. And it is overall good for the entire space as more and more people are knowing about it.

Let’s look at some cases :

• Round21 makes artistic sports equipment and is currently exploring the NFT space.

  BAYC x Round21

• Seattle's new museum is dedicated to NFTs

• World’s first NFT gated restaurant to open in NYC.

• Fewocious and RTFKT collaborated for NFT shoes which were redeemable for real shoes.

• Patrón turns to a DTC spirits marketplace to release its first NFT

• John Lennon’s son Julian to sell his father’s Beatles' clothes as NFT.

• BAYC on cover of ALL GONE

• NFTs are used to develop the relationship between athletes and fans .

• NFT gated art and music party

• This shoe was available only for the cryptopunk holder.

• Perfy created digital soda cans for NFT owners featuring their artworks.

• Men's hair loss brand Introduces First-Ever CryptoPunk-Sponsored NFT

• Vacation.inc leveraged the power of community to sell sunscreen

• Sneaker startup Flowers for Society is using NFTs as an alternative to pre-orders.

• Cereal brand OffLimits has been offering its customers free NFT cereal toys

• Satoshi Studio makes high-end sneakers hosted on blockchain.

Things have merely started to turn out. We will see much more collaborations and brand diving into NFT space and NFT being used as everything.

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Hope you all are learning new things everyday.

Today we will try to know about the missing part of web3.

Today everyone (or most of the people) who know about the web3 are bullish on it . And we all think that it’s the future. And it will be.

Today there is infrastructure problem, computation problem, co-ordination problem and different other problems which we have to tackle to achieve our goal .

And also many of us don’t take the first step towards our goal as we think that we will start once we solve every part.

And also there will be many problems which at the moment we are unaware of.

In Jumanji, they were finding the missing part and thought that the missing part is the map’s part.

But once they reached the bazaar, they found the missing part. The player.

Likewise, we might be wrong about the problems which we think are problems. And as we begin our journey towards web3, we will see new problems. And of course we will solve them.

But we have to keep going. We have to reach the bazaar. We have to keep buidling till we find the missing part.

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Hope you all are learning new things everyday.

Today we will try to know about our utopian vision about metaverse.

This is the Oasis. It's a place where the limits of reality are your own imagination. You can do anything, go anywhere. People come to The Oasis for all the things they can do, but they stay because of all the things they can be. Tall, beautiful, scary, a different sex, a different species, live-action cartoon. It’s your call.

This quote from the movie “Ready player one” excites most of us about the metaverse. It tells us that that metaverse is a place where you can be anything, do anything and no one will judge you.

Of course it will be very exciting to climb Mt. Everest with your friends while sitting on your couch. One can visit Taj Mahal while being in Melbourne. One can visit Disney Land while being in North Korea(hope this is possible).

The limitation of metaverse is our imagination.

But

“People come to The Oasis for all the things they can do, but they stay because of all the things they can be. Tall, beautiful, scary, a different sex, a different species, live-action cartoon.”

Why do we want to be someone else. Of course we all are moving towards pseudonymous society but why should we alter ourselves.

Why one wants to be tall? What is the definition of beautiful?

Of course we have violence , discrimination, gender inequality and 99 other problems in real life. But should we escape from it? Should we all adapt metaverse and run away from the rea life problems instead of solving it.

If a person is being discriminated in real life by someone , he should fight for it rather than running away. If a person is insecure about being judged he should work on it rather than thinking that no one will judge him in the metaverse.

If problems exist in real life we have to solve it in real life.

An what is the definition of beautiful?

Does having a 6 ft. 2’’ height makes someone kind or having a fair skin makes someone confident? Does muscular body enhances someone’s character or having scar-free face enhances beauty?

In Ready Player One, a boy met a girl in the metaverse and fall in love with her digital avatar. Once they met in real life and the boy got to know that the girl had scar on her face.

But the boy still loved her. This is Love💖with no conditions applied.

We should embrace what’s real and should not fall for the trap of what’s not.

Of course metaverse will be a lot of fun but it should not come at the expense of reality. Metaverse should be seen as an immersive online place and not as an alternate to reality.

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Hope you all are learning new things everyday.

Today we will understand the logic behind multiple metaverse.

We all live in one planet called earth (Elon Musk wants to change this but that’s not topic of this post so let it be )

We all share this world. So why are we building so many metaverses. Shouldn’t there be only one metaverse. An open metaverse controlled by none.

Today many companies are building metaverse, VR sets, HoloLens and what not. They all are in the race to capture the new world.

In some metaverses there are limited land and you have to pay a hefty amount to have it (just like real world).

Why multiple metaverse?

One analogy :

Though we all live in one planet, we live in different countries, different cities, have different culture, time-horizons and …

Likewise, different metaverses will have different exciting things. The owners of different (centralized ) metaverse will be the govt. of it.

Multiple metaverse can actually be good. If you don’t like one just jump onto another. But can it be easily done?

In real world one needs passport and visa to visit another country and that too for a limited time.

Remember the owners? If the companies control the hardware they have the power to control the software. They can limit the no. of metaverses that can be operated in that.

The metaverses will be there but may not be evenly distributed.

We have to wait and watch how the future of metaverse turns out to be .

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Hope you all are learning new things everyday.

Today we are going to know a basic thing to keep in mind while dealing with NFTs or cryptos. Let’s begin.

Never ask a barber if you should get a haircut.

Likewise , don’t ask a person which NFT is undervalued or which one should you buy. Chances are there that they will recommend either the ones which they are trying to flip or their personal projects.

If you want to buy any NFT then just connect the dots. Look if people are talking about it ( genuine and not sales pitch ). Look at the ones who are literally collectors. Look if some notable web3 writers are writing (unsponsored) about it.

You can also check the Twitter vibes and can check the discord vibes.

But don’t ask anyone. Or ask those who you think are genuine and on whom you can trust and are in the space for the long term.

But remember one thing : Never ask a barber if you should get a haircut.

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Hope you all are learning new things everyday.

Today we will see some cases when social media companies banned people from their platforms and govt. banned social media from their countries.

Web3 talks about decentralization and permission less system. It talks about censorship-resistant.

Anyone and everyone is allowed to join it without seeking any from anyone.

But we have to admit that currently we are living in a highly regulated era. Inherently, we seek permission before doing anything. And if we upset the gatekeepers then they will throw us out of their platforms.

If as an individual you *violate* the code of conduct of the platform you will be banned from it.

Now, let’s check some of the cases :

• Twitter permanently banned Donald Trump from its platform.

• Instagram banned artist after Facebook rebranded as Meta.

• YouTube banned Anthony Pompliano's Channel for a short time due to policy breach.

  https://twitter.com/apompliano/status/1447629947284099077

• YouTube banned Bitcoin Magazine’s 60K Follower Channel

• YouTube had taken down Joe Rogan's interview with Dr Robert Malone

• Twitch streamer got banned.

• H3H3 banned on YouTube after video classed “too dangerous to watch”

This doesn’t make the platforms itself the regulators. The ultimate regulators are the govt.

If as a company you *violate* the code of conduct of the country it will be banned from it.

Let’s check some cases :

• Nigeria lifted ban on Twitter after 7 months saying the company has met govt. conditions

• Russia threatened to ban YouTube .

• India permanently bans TikTok and 58 other Chinese apps

• 10 popular apps and websites blocked in China

• Crypto is banned in many countries.

Though censorship is a major problem today but we hope that our future will be decentralized.

Of course many people don’t care about it and for them it’s not even a problem per se .

But as people become aware of it and see it as a problem they will invent a solution.

We all will escape from the controlled society towards becoming a Sovereign Individual in true sense.

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Today we’ll explore the state of crypto in INDIA.

First, let’s see a broader view of development going on in India.

India is becoming The Internet Country . Things are improving gradually and digitalization is being promoted and govt. is playing a role in making Digital India possible.

Internet penetration is increasing.

By some estimates, India can have 820 million smartphone users by end of 2022 .

And smartphones are contributing to digital governance .

Going from 1 in 2011 to 44 unicorns in 2021 .

Life expectancy is improving.

Literacy rate is also gradually improving.

India is home to a fifth of the world’s youth demographic. Around 62.5% of India’s working age population is aged between 15 and 59 years, ensuring that India will have a demographic advantage all the way to 2055.

Okay, so we have got an overall view of why India can’t be ignored.

But like every country, India is also skeptic about crypto. India’s central bank has also raised concerns about stablecoins’ effects on the Indian rupee . But they are planning to launch their own CBDC .

India’s central bank has also appointed department to regulate crypto exchange, formulate CBDCs .

Indian cryptocurrency exchanges are scrambling to secure viable, permanent payment solutions to ensure seamless transactions after banks and payment gateways started cutting ties with them .

But, Banks have also reopened accounts with crypto exchanges after conducting due-diligence, in absence of any specific regulation. Not all the banks . Total confusion.

India’s Crypto Exchanges Were ‘Inspected’ by Tax Agencies .

Despite all the chaos India's crypto industry is booming .

India attracted crypto funding and blockchain investments worth $638 million across 48 rounds in 2021

India has the highest number of crypto owners in the world at 10.7 crore ( 107 million).

It has produced 2 crypto unicorns. in 2021.

NFT has also seen adoption as celebrities had launched their own NFT collection. "From Amitabh Bachchan, Salman Khan, Kamal Haasan to Yuvraj Singh, Rohit Sharma and Manish Malhotra, celebrities from all walks have launched or announced the launch of their digital tokens in 2021."

Indian auction houses are exploring NFT based sales.

Crypto exchange startups are helping to on board people.

NFT marketplaces are helping Indian artist to sell their art at fair price.

Startups are also working to make infrastructure vibrant.

Some startups like Polygon and epns are globally recognized.

https://twitter.com/balajis/status/1481073968887087106

Crypto exchanges has also partnered with media houses to launch crypto content across platforms.

Now let’s check the tech hub of India : Bangalore .

Bangalore (startup capital of India) is the world's fastest tech hub .

And the energy here is 🔥🔥🔥

https://twitter.com/AdityaMorarka/status/1474045212594868226

https://twitter.com/nikhiljoisr/status/1411525248734810113

https://twitter.com/peakbengaluru/status/1460920073120485377

https://twitter.com/roshanonline/status/1454762122471084042

https://twitter.com/HarshithMallya/status/1448320012893114382

https://twitter.com/saptarshipr/status/1445270633869312009

”Visit Bangalore” should be on your bucket list.

The future of web3 is bright and so of India’s . Of course there are regulatory concerns but crypto is censorship resistant and so is innovation.

India will play a huge role in making web3 a reality.

Balaji Srinivasan lays out How India win-wins the future .

https://twitter.com/MohapatraHemant/status/1481472488643371008

https://twitter.com/DeFi_Dad/status/1479121740793925636

https://twitter.com/ridhimagupta/status/1479113096853528584

It’s time for India🚀🚀🚀

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Today we’ll know about the chaos in DAOs’ Discord channel.

For the new users, discord is pretty clunky to use. And if they are new to web3 , then it’s total chaos.

Every DAO (nowadays) starts by the formation of their discord channel. Some free to join, some token-gated.

DAOs are about co-ordination. But ones you are in the group, it’s impossible to keep track of everything.

There are so many members that one may not keep track of the announcements and may miss on some big ones.

I think the problem is partly due to the user interface (which we can do nothing about) and partly due to the no. of members.

I think one approach to tackle it can be tokens. Make a token-gated private discord group or invite-only groups.

This will not completely tackle the problem but may substantially reduce it as you will know that those who have joined have skin in the game or are great resource for the entire group.

Also, people are not in 1 or 2 discords but 100 other.

First of all they don’t know the entire scenario and voting happens so often that they don’t have the knowledge and don’t take part in governance.

Also, Discord was not made with DAOs in mind. So, we have to look another alternative of it.

There are people trying to buidl platforms specifically for DAOs.

But I guess none are launched at the moment. But surely we will see some in the future.

Some alternatives :

https://twitter.com/lzrscg/status/1477471772949635073

https://twitter.com/MurtazaBambot/status/1481050164844544005

Some useful resources :

https://twitter.com/kashdhanda/status/1481582133625823237

https://twitter.com/rationalaussie/status/1481484815954509826

https://twitter.com/divine_economy/status/1481485999935037440

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But still we kind of debate that they have excluded us. They show ads, collect our data, ban people from their platforms, servers get down and all other things.

Now we argue that they should share their profits with users , who really made the network useful and vibrant.

But also we should not forget that some small businesses pay these social medias for their reach and networks to run their ads. They collect data to show us personalized feed which we all enjoy. They ban toxic people (which they assume will harm their platform).

They don’t share their profits with users but instead use it to invest in the business and capture the market share. They attract top talents across the globe by paying them hefty sum and they build the platform more engaging and playful for their users. Which results in more attention, more ads, more money and it continues. They also use the money to acquire other companies.

Social media : Tiktok, Instagram, Youtube etc all have given birth to new class of earning stream and profession. People are now youtubers, influencers, celebrities all thanks to these centralized companies.

Small businesses use WhatsApp, Facebook and Instagram to do their business effectively and efficiently.

The fact that these services are free to use have benefitted almost everyone in the ecosystem.

And most people don’t care about privacy until and unless anything wrong happens with their bank account.

But meanwhile they became parallel govt. We all have to play by their rules. They can change the rules as per their wish.

If their servers shut down for few hours, it results in a loss of multibillion trade loss.

Think what will happen if they are shut down for a day? or for a week? It will result in global chaos and outrage.

This shows how dependent we are on them.

But…

But it’s time to change. It’s time for web3 . We all have to figure out all the details to make it possible . We have to keep building. Things will fall apart and many startups of today will not be their in the future. But we have to ultimately find a win/win situation not to almost everyone but everyone in the ecosystem. We have to be sovereign and work towards the welfare of the society as a whole.

We have to find sustainable economic models and have to do some heavy lifting to eradicate barrier of entry.

We don’t have to explain someone consensus protocol to make them use of bitcoin or have to explain what ERC-721 is to convince them to buy an NFT. We don’t even have to say the full form of NFT.

We all have to do is to explain the use cases. We have to make people understand how beneficial it could be. How it can be more fun . How it transfers the power to them. How it will make their life more comfortable.

We have to take the learnings from web2 and blend it with the ethos of web3. That’s when it will work like magic.

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We as humans are social beings and emotional. We value things when we are emotionally connected to it . My apartment has value because I live here and my neighbors apartments have value because they live their.

We as a whole makes community and everything associated with it appreciates in value. That way my small real estate becomes more valuable rather than if I would be only person living in the city.

Same tends to happen with NFTs. The more vibrant, friendly, engaging the community is around an NFT project , the value of the NFT appreciates.

So if an NFT project has 100 NFTs with 1 or 2 owner whereas another NFT project has 100 NFTs but with 90 or 100 owners, the second NFT project will gain more value. It will happen as more and more people will connect by virtue of their NFTs and will socialize and will build a solid community.

Which basically means that : co-ownership > ownership.

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Just check out the public data , check what are people talking about on twitter, discord, reddit groups and make a rug project based on it.

Keep 25% of the token supply for the so called core developers. And announce the project on twitter, pay some crypto influencers to talk about it. And wait until everybody on cryptotwitter goes crazy about it.

Eventually people will claim it and if you want people not to sell it straightaway then make some staking tool and show some roadmap of the *project*.

Gradually, the price of the token will rise. And when it has increased significantly, sell the tokens. Voila!

We should be careful about it and control our greed. The ruggers take benefits of our insecurities. We should condemn such activities and should totally ignore them ( as any publicity is good publicity )

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