NFT as Micro Social Media

There are a lot of comments such as “looks rare”. As a hat tip or a criticism of the uniqueness in an NFT. This kind of conversation is what fuels the NFT micro group and for a lot of enthusiasts. And then, you can replace the endless scrolls that is Facebook or Instagram or other social media.

Each group is setting its values, roles, and rules of conduct often in a manner that is reminiscent of the animal characteristics or the idea depict in NFT artwork. Ape Island Apes share monkey memes, Degen Yetis egg each and squabble with each other with phrases like “Haha, Yeti”. CryptoDads are sharing their most hilarious dad jokes. In all groups, there’s an agreed-upon language for people who are knowledgeable. The majority of groups greet one the other using “gm,” an abbreviation for “good morning” popularized by the CryptoTwitter.

Metaverse Enter The NFT World as Social Media

The biggest social media platforms are at an impasse. Concerns about privacy regulations and a decline in trust among users have led to concerns regarding the long-term future for these platforms. As the world moves into an era that involves digital assets communication. In a space, many refer to as the Metaverse Users are looking at ways to express themselves and communicate which don’t require surrendering privacy online.

NFTs may be a step towards new social interactions which may be more plausible than it seems. Social media recently unveiled a creator-driven NFT micro collection. Twitter is taking on NFT verification of profiles and Coinbase is planning to launch its own NFT marketplace. These signs suggest a mass market that could increase the possibility of making NFTs an integral element of our social network. The big social media platforms will continue to play a role. However, the concepts emerging in NFT communities point to a new kind of social interaction based around NFTs instead of followers and likes.

Utilities Service Exceeds Value for Money

Communities are competing to be noticed by potential customers because it could lead to an increase in “floor price”. The price at which the NFT for secondary market and micro social media. Beyond the price of the average. The most forward-thinking communities are pondering ways to enhance the value of members with perks and exclusive access. This type of reward for members can be a great chance to provide new benefits that is beyond the financial benefit of NFT.

Read Also: CEO Electronic Arts (EA): NFT Will Dominate Play-to-Earn Gaming Industry

Treasuries, that are funded by the project’s revenues and growing popular as community members attempt to implement their thoughts. At the time of posting, Nouns holds 13,722 Ether (ETH) in their treasury account. An astounding amount for a community that decentralized and built around NFTs.

CryptoDads produces beer, and CyberKongz is developing an automated vending machine for bananas which produces, you guessed it NFTs. The idea of bringing utility to NFT projects that are dominated by memes and profile pictures may be a bit strange. As these communities develop and develop, they are finding innovative ways to coordinate their actions around the same values.

DAO Governance Redesign

As groups navigate to make decisions for the community the need for governance has led to the creation of a decentralized, autonomous entity (DAO). This Nouns community is rethinking governance using NFT ownership by giving members through the “one token, one vote” strategy. Members who hold at least 1 percent in the supply of tokens are able to submit ideas for consideration. And then, the community is able to vote.

Since the decentralized internet is taking place in the spotlight DAOs are now an integral part of the discussion. The combination of NFTs with governance models appears to be an obvious combination of values that reward ownership and participation in the community.

A new social code that is based on collaboration and ownership is part of the culture that is the foundation of NFT culture. Although the NFT story is still in its early stages. However, it is evident that social elements are the driving force behind its adoption. NFTs could be the catalyst that is needed to start the next wave of crypto-savvy users.


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