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In about 13 minutes we gonna create both an immense amount of value and a decentralized marketing department. A task impossible for a regular article. Thus this is not a regular one. This is the craziest and the sanest thing you’ve stumbled upon in crypto space recently. Take a moment, relax and read it.
<aside> 🌱 Inspired by Kernel modules (thank you Andy) that conclude ****with the gift - a beautiful article on giving.
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It all started with a gift. On March 14, 2021, The Officious BokkyPooBah, famous frog and fossil photographer (and Ethereum dev), gave away a considerable number of MoonCats to Ethereum developers. Surprisingly enough, I had one too.
After that, I started to see MoonCats almost daily. A song, an AR-kitten, a kitten on a tiny electronic photo frame, kittens on avatars (Nick.eth, Evan Van Ness), and all other sorts of stuff. Some people are celebrating, some appreciating BokkyPooBah, paying back to him and paying forward (I made a doughnut), some are trying to increase the value of their own cats.
There's definitely something here. Intentionally or not all cat owners are promoting the myth of cat rescue. As a consequence the average MoonCat price on OpenSea increases. The act of giving effectively created a marketing department for the project.
Kittens have no utility (yet). They are "just" collectibles that are first of their kind, a part of blockchain history, and widely recognized by the community. All the kittens have is a myth and they sell nothing but a myth.
What about projects that do have utility™️? Think of virtually any project in the blockchain space. They have mission, art, memes, they do super-novel stuff, they are first of their kind, they are widely recognized and they are building history. They have their own strong myths. But they usually call it "marketing" and use it to build relationships with customers and sell their product. They never sell their myths directly and usually pay to promote them. There's probably a better way for them.
Imagine you want to sell your utility-first project myths directly. You put price tags on logos, icons, article header images, community calls background, etc. You turn all those into NFTs. It may sound weird, but let's explore further.
We gonna call those non-fungible myths or NFMs. Same standard, same functionality as NFTs, just a special case of it - myths and their part on sale. We'll explore if it is possible to bootstrap an additional marketing department for your project with NFMs. We'll see what it takes to create dynamics similar to the one of MoonCats and what benefits are there for you if you select this path.
Simplicity. It doesn't require a lot of effort. The artifacts you need are already there - the ones already mentioned above, logos, icons, etc., plus memes, sketches, prototypes, tweets - a lot of work that is usually considered a byproduct. Just put a "verified" mark on them, wrap them as NFTs and you get some NFMs for a start. Byproduct becomes a product and can be monetized.
Monetization. Start selling NFMs and you get an additional source of income at almost no cost.
These are a couple of instant benefits of using NFMs. But really just a tip of the iceberg. There are many wonderful properties of NFMs (inherited from NFTs) that could be leveraged.
NFMs are personal. Unlike ERC20 tokens, every NFM is perceived as an item, not a number. It does have an extrinsic (market) value, but also a story, relationship, affection, an intrinsic value.
<aside> 🖥️ Would you prefer to have an Apple stock or the first iMac prototype?
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