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0/ I’m bullish on NFT20!
- VeryNifty created a solid community
- They found a huge opportunity for NFT liquidity solutions & made a new protocol
- Tons of implications & use cases for NFT projects
- Rewarded their original community, instead of creating a new governance token https://twitter.com/NiftyMuseum/status/1353401249299763201
- VeryNifty created a solid community
- They found a huge opportunity for NFT liquidity solutions & made a new protocol
- Tons of implications & use cases for NFT projects
- Rewarded their original community, instead of creating a new governance token https://twitter.com/NiftyMuseum/status/1353401249299763201
1/
- @NiftyMuseum began as an experiment with a tamagotchi like NFT game
- The creators @jdourlens & @surfcoderepeat distributed Very Nifty’s platform token, $MUSE, in a fair launch. Players were able to mine the token by playing the game
- @NiftyMuseum began as an experiment with a tamagotchi like NFT game
- The creators @jdourlens & @surfcoderepeat distributed Very Nifty’s platform token, $MUSE, in a fair launch. Players were able to mine the token by playing the game
2/
- Through developing VeryNifty and it’s community they found a huge market gap : liquidity for NFTs from new / less established projects
- They coded a brilliant and amazingly easy to understand solution to said problem
- Through developing VeryNifty and it’s community they found a huge market gap : liquidity for NFTs from new / less established projects
- They coded a brilliant and amazingly easy to understand solution to said problem
3/
- NFT20 allows users to deposit NFTs and receive 100 units of ERC20 token which can be redeemed for NFTs in the pool
- This gives immediate liquidity to the least liquid NFTs in a platform
It also creates a price floor for NFTs from the entire platform
- NFT20 allows users to deposit NFTs and receive 100 units of ERC20 token which can be redeemed for NFTs in the pool
- This gives immediate liquidity to the least liquid NFTs in a platform
It also creates a price floor for NFTs from the entire platform
4/
- The dutch auction feature means that more valuable NFTs can be valued in terms of their less valuable counterparts
- Price discovery for NFTs is a complex and multifaceted issue, see : https://twitter.com/jbrukh/status/1353873930822557697
- The dutch auction feature means that more valuable NFTs can be valued in terms of their less valuable counterparts
- Price discovery for NFTs is a complex and multifaceted issue, see : https://twitter.com/jbrukh/status/1353873930822557697
5/
- Creators could be guaranteed income
- Example : hypothetically, me and @sudeepbiswas could make memes on @ourzora and sell them for 100 tokens instantly
- If someone thinks the memes are lit, they could cop the NFTs for 100 tokens each and potentially sell them for more.
- Creators could be guaranteed income
- Example : hypothetically, me and @sudeepbiswas could make memes on @ourzora and sell them for 100 tokens instantly
- If someone thinks the memes are lit, they could cop the NFTs for 100 tokens each and potentially sell them for more.
6/
- This has fcktons of implications for the creation of curated cryptomedia
- Creators could come together to create an NFT platform governed by the token their NFT20 pool creates, working to maintain asset value
- We’re experimenting with similar ideas @dripvnchr
- This has fcktons of implications for the creation of curated cryptomedia
- Creators could come together to create an NFT platform governed by the token their NFT20 pool creates, working to maintain asset value
- We’re experimenting with similar ideas @dripvnchr
7/
- $MUSE is now the governance token of NFT20
- The founders have created a really solid community
- The community has been vital for helping Adam & Jules craft NFT20
- The community has been rewarded because their $MUSE now has a gazillion times more value
- $MUSE is now the governance token of NFT20
- The founders have created a really solid community
- The community has been vital for helping Adam & Jules craft NFT20
- The community has been rewarded because their $MUSE now has a gazillion times more value
8 *Disclaimer*
- I hold some $MUSE
- I was introduced to @jdourlens by @sudeepbiswas02, he’s a super cool guy
- I did this write up on my own accord, cos I love the project
- I hold some $MUSE
- I was introduced to @jdourlens by @sudeepbiswas02, he’s a super cool guy
- I did this write up on my own accord, cos I love the project
