Abundance Will Scale NFTs to the Masses

blockchaincapital.com · 1,898 words · saved by 1 readers

The first true era of NFTs (circa 2020-22) was defined by scarcity. Early adopters raced to acquire these assets, driven by the allure of exclusivity and potential price appreciation. This model mirrored the initial stages of other digital products like music and eBooks, where scarcity was artificially maintained before the market evolved towards more accessible and abundant distribution. During the rise of NFTs, blockspace was limited, transaction fees were costly, and access to collections was ruled by insiders. Today, however, many of these constraints no longer exist. NFTs, by digitally encoding an object’s origin, its creator, and the time-stamped history of its owners, are able to form a unique identity. With this framing, we can move beyond NFTs as scarce objects into assets that capture digital provenance and context over their “digital life.” Scarcity isn’t a requirement for valuing NFTs; instead, we posit that the next generation of NFTs will be valued through their abundance

Abundance Will Scale NFTs to the Masses Abundance Will Scale NFTs to the Masses Kinjal Shah · co-authored with · Anay Simunovic , · 12.5.2023 · Research #blockchaincap From scarcity to abundance The first true era of NFTs (circa 2020-22) was defined by scarcity. Early adopters raced to acquire these assets, driven by the allure of exclusivity and potential price appreciation. This model mirrored the initial stages of other digital products like music and eBooks, where scarcity was artificially maintained before the market evolved towards more accessible and abundant distribution. During the ri

Abundance Will Scale NFTs to the Masses

related reading