NFTs are entering a new phase and there’s a good chance we’ll see the next big collection emerge soon.
After a year of 10k profile pic meta (doodles, cool cats, azuki, bayc, cyberkongz, clone-x) we’re starting to see a new meta emerge. Creators finally feel free to explore and experiment with different marketing strategies and on-chain mechanics, and as a result we’re seeing a ton of novel projects that are defining a new path.
In this video I go over some recent examples of experimental NFTs that I like, and why things are about to get MUCH crazier in the coming months as a result of open source development.
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0:00 START HERE
0:52 NFTs are going through a massive change
2:40 the homebrew era
3:08 trend #1
4:10 trend #2
6:04 a controversial project
7:29 why things are going to get crazier
8:56 NFT’s superpower
Hey guys so today i want to talk about a New trend that is popping up in nfts That i don’t think enough people are Talking about and to start off let me Show you something so this is the Website for an nft i bought called Wizards and this little guy here is Telling me to select the coward or Basically other players that i want to Eliminate and then click on the kill Button now there aren’t any cowards here Right now but if there was one and if i Did click that kill button it would Actually burn somebody else’s nft okay Without their permission and without Them maybe even knowing what’s going on Now you might be thinking john carl that Kind of sounds awful right the last Thing i want when i’m out touching grass And trying to forget about how the Entire global economy spiraling out of Control is to find out that some dweeb From across the globe burned my favorite Nft and yeah it’s a little controversial I’m not gonna lie but there’s something Deeper happening here and i think it’s Likely that the next big collection Emerges from this trend maybe sooner Rather than later but to understand why This is a big deal i gotta recap what’s Been happening over the last few weeks And how we got to where we are right now Because there’s been a ton of change and This is sort of a reaction to all of
That so number one over the last 12 Months the primary meta and nfts have Been these profile pick collections with These standard roadmaps okay and they’ve Been inspired by boarded yacht club and That path that they took so they have Their initial collection they have sub Collections additional nfts maybe some Metaverse land maybe some token staking Things that don’t really seem Sustainable over the long term number Two that profile pick meta is now dead Or at least it’s hibernating and how do We know well because time after time Every new hyped up profile pick is Underperforming relative to what it Would have done even six months ago okay You got lonely pop possess pxn they’re Not doing too great and then point Number three when that profile pick meta Did die it left this huge black hole in The middle of the nft universe and what We’ve seen is that all these unreleased Profile pics that were in development in The last few months have basically Paused their mint okay they’re going Back to the drawing board they’re Changing what the project is gonna look Like they’re just not launching that Means that the schedule of upcoming Premium drops has vanished okay it’s one Of the lightest pipelines that we’ve Seen in a long time and that’s because Nobody wants to release in this market
Basically it takes time for builders to React to these changes right unlike Collectors who seemingly went from Loving road maps to hating them Overnight which is usually the case with Any meta when the floor prices start Tanking in contrast it’s not that easy For builders and so it creates this lag Where it might take them two or three Months to react fully to the changes That they’re seeing in the market but Now ladies and gentlemen we’re starting To see those changes come through and From the ashes of the old meta i think We’re seeing a trend that for the first Time in a long time is getting me Excited and just to put a name to this New direction that i’m about to describe I like to call it the homebrew era and I’m borrowing this name from the Homebrew computer club which was a group Of computer hobbyists in the 70s that Included guys like steve jobs and steve Wozniak and which influenced the Personal computer revolution that we saw In the decades after that just think of It as a period with a high degree of Experimentation and from that eventually You get something that scales to a large Audience and that takes everything to The next level now there’s two main Things that are driving this homebrew Era and nfts and the first of these is a Trend that started back in june with the
Rise of goblin town i covered this Project in full a few weeks ago but the Short story is that goblin town was able To use a form of interactive Entertainment in order to go viral so it Used its website as a place to tell its Story and they used its twitter account Creatively to build out this ridiculous Goblin lore and it turned out that People were kind of into it right Instead of another project that had this Long list of empty promises goblin town Was at least fun and as a result it Skyrocketed to 80th and even today it’s Hovering at around three we then saw a Similar but short-lived pump with Another collection called we are all Going to die which again was able to use The same blueprint and had these Dramatic twitter spaces to build out its Lore now prepare The moth will take you soon now is this Cringe Maybe but it’s also showing that people Are at least open to new things okay so Bottom line is that instead of having This roadmap they were focused on Delivering value and entertainment in Real time okay not some far-off futures Alright so that’s one side of the Homebrew phase which is using social Media and these microsites to do like This new kind of storytelling but now There’s another piece of the puzzle and
Then we’re gonna bring it all together So let me give you a few more recent Examples to illustrate this other piece That i’m talking about okay so the first Collection is called wides now wides was A free mint and on the surface you might Say it looks like another punk Derivative and it kind of is but there’s An interesting mechanic that i want to Highlight as we see here wides are a Fully unchained artwork meaning all data And artwork are stored on the ethereum Blockchain wides consume data directly From the on-chain cryptopunx and Programmatically edits the data to make Each image grow wider and wider based on The growth rate of each wide and the Number of transfers so in other words Every time you trade a wide the nft Itself gets wider okay and it’s all done On chain and we’re going to come back to That in a minute and why that’s Interesting but now let’s move on to the Second collection which is called queen Dao now this is the fork of the popular Nouns contract which releases one noun Every day forever but in this case They’re releasing portraits of queen Elizabeth and they’re releasing one Portrait every day until the queen Passes away i know this is morbid and in Bad taste but the point i’m trying to Highlight is the connection that they Made between an on-chain nft mint and a
Real world event in this case it’s not Very elegant because you still need Someone to manually check on the queen’s Status every day and then manually Change the contract when she does pass Away but there are ways to actually Improve this for example you can connect Your nft to one of those web 2 apis that Does scan for real world events and There’s a long list of apis out there Like twitter nasa and you can set it up So that events that happen on one of Those websites impacts the nft Collection you could even have on-chain Interactions so maybe the price of eth Going up and down has some impact on the Metadata of an nft okay these are just Examples but you can start to see where Projects like queen dial might be going In the future okay now one last example And this is the one from the beginning Of the video is a project called wizards Okay and in this case they have a very Interesting on-chain mechanic that Allows the contract to burn any wizard’s Token meaning that you could have your Nft in your wallet and you can even have It listed on a secondary marketplace and The contract could still burn it without Your permission and the way this worked In practice is that if you stake your Wizard you would basically get these god Powers that allowed you to burn anybody Else’s nft if and only if they listed it
On a secondary marketplace below 3.2 e So if they listed it at 2 eth or 1 eth They’d instantly be at risk of having Somebody else burn their nft now why 3.2 Eats specifically i don’t really know It’s just something that plays into the Story and even though wizards were clear That this was the plan all along you Know that a lot of people buy these nfts Without actually reading anything about It so naturally when a lot of these nfts Started to get burned people got pissed Some were just in complete shock that They had nfts burned without their Permission and others were straight up Calling it a scam now to be fair people Didn’t just lose their nft and walk away Empty-handed okay burning one of the Wizards introduced a new currency called Half skulls and both the burner and the Burned each received a skull now we Don’t really know what the ultimate Purpose of these skulls are yet but you Know the belief is that they’ll continue To play a role in future mints down the Road and it’s all just part again of That larger story okay now finally let’s Bring this all together so in the first Couple of examples with goblin town and Wagney we saw how creators are Experimenting with social media to Create these like fun online events that Can go viral then with the other Examples we saw the different ways that
Builders are manipulating smart Contracts to gamify their stories in the Case of wides every time the nft was Flipped it changed the actual metadata And look of the nft in the case of queen Dao the on-chain auctions were linked to A real world event in this case the Death of queen elizabeth and then with Wizards they turned secondary markets Into this like pvp area where you could Actually get attacked by other players Sort of like entering the wilderness in Runescape where anything goes and this Is why i call this the homebrew era Because after a long period with this Like uncreative profile pick meta Now you have no obvious road to success And so creators have no choice but to Just try new things and the reason why i Think this is all going to start moving A lot faster is because all of these Experiments are done with open source Code okay it’s all in the smart Contracts and anybody can read them and What that means is that as soon as Somebody comes up with a single Innovation it then becomes a public good That all other creators can start to use In their own project and this is the Superpower that nfts have because you Basically have like hundreds of Different teams all developing mechanics That’s all adding more and more tools to This like open source library which in
Turn exponentially increases the number Of options that creators have for Storytelling like imagine if somebody Asks you to develop a game from scratch Using a brand new engine okay so on day One you have basically this character That doesn’t move or do anything and it Just stands there but then tomorrow Somebody uploads the code needed for you To be able to jump okay and so now your Character jumps the next day somebody Uploads a way for your character to Sprint then a way for two characters to Communicate or to fight monsters and Before you know it you’d have this full Library of assets that you could use to Create a solid game and it just keeps Getting better and more creative because The library continues to grow every day So this is like speed running the video Game industry and compressing like these Decades of development into a much Smaller time frame and in my opinion There’s a great chance that the next big Collection emerges from a combination of You know this new kind of social media Storytelling with one of these like on Chain hooks that maybe is a little Controversial that helps to get some Attention but also something that is new And engaging and this is very different Than the projects we had in the first Half of the year which was based around Some utility that was very far off and
Dependent on the brand becoming like a Household name and as we saw with Wizards people’s first reactions tend to Be negative towards these novel Mechanics you know maybe because we’ve Been numb after like nine months of Animal farm profile picks and i know That wizard specifically is somewhat Controversial because it’s making you Know parts of the smart contract a Little more centralized but that’s not The point okay the point is that Eventually one of these mechanics will Hit and you have to keep an open mind Because chances are that it won’t look Like anything that came before it Alright guys that’s it for today thanks For watching and i’ll catch you the next Video
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