NFT Review 2024 - 2: How do we evolve?
NFT Review 2024 - 2: How do we evolve?
Evolving the sentiment, purpose, and public opinion of NFTs
NFT Review is a weekly newsletter covering NFTs in the Web3 ecosystem. The newsletter is put together by Bruno Škvorc.
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Looking for a primer on NFTs? This should be the last introduction you’ll ever need.
Dear NFT enthusiast,
As we navigate through the labyrinth of the latest NFT advancements and stories, it's crucial to step back and ponder the broader implications of these seemingly disparate pieces. Beyond the dazzling array of art, games, and global adoption stories lies an undercurrent that could redefine the very essence of how we interact, govern, and empower communities in the digital age. This week, rather than reflect on the content of the newsletter, let's explore the potential of NFTs as a vanguard in the realm of decentralized governance and community empowerment.
NFTs, often viewed merely as digital collectibles or investment vehicles, harbor the potential to become powerful tools for decentralized decision-making and community-driven initiatives. Imagine a future where NFTs are not just assets but also represent stakes in decision-making processes, akin to shares in a company but in a more dynamic and fluid ecosystem. This paradigm shift could see NFT holders directly influencing the development of projects, from art collectives to gaming universes, shaping them according to communal visions rather than top-down directives.
This future is not just hypothetical. The seeds are already being sown by projects integrating governance tokens and NFTs, allowing for a more inclusive and democratic model of operation. The implications are profound: NFTs could transform from passive investments into active tools of engagement, empowering holders with a voice and a stake in the projects they care about.
However, this vision is not without its challenges. Decentralized governance requires robust mechanisms to prevent manipulation and ensure equitable participation. The evolving NFT space must tackle these issues head-on, ensuring that the shift towards decentralization is not just theoretical but practical and fair.
As we witness the nascent stages of this transformation, the role of enthusiasts, developers, and thought leaders becomes ever more critical. We are not just observers but active participants in shaping this future. Your engagement, feedback, and creative contributions are vital in steering the NFT ecosystem towards a more inclusive, decentralized, and community-oriented future.
This week, as you delve into the latest developments and stories within the NFT space, I encourage you to ponder these possibilities. How can NFTs evolve to empower communities genuinely? What role can each of us play in this transformation? The answers to these questions may very well lay the groundwork for the next chapter in the NFT saga.
Thank you for joining me on this journey of exploration and empowerment. Your thoughts and insights are not just welcome; they are essential in shaping the future of NFTs and the broader Web3 ecosystem. Drop your comments and thoughts as replies on this post, or on our X account.
Thank you for reading and have a great week.
— NFT Review
🖼 crypto-native
MOCA vs MOCA? Museum of Crypto Art takes on Animoca for name infringement. Battle with windmills much?
Programmable NFTs: integrating executable code into NFTs.
RMRK releases rmrk-js, a set of utilities for easily rendering and interacting with modular NFTs, making integration into custom apps and marketplaces much easier.
An impressive community-created explainer deck about Terraform / Mathcastles.
RARI launches its RARI chain’s mainnet. The focus is enforced royalties and NFT governance.
Exchange.art launches “on-chain collection IDs” as a way to contextually group artworks, clumsily emulating mature standards like modular nestable NFTs.
The Blast L2 testnet is live. With it, the Blast BIG BANG competition officially begins. Dapps can compete to get in front of 100k users & $1.3B in TVL, connect with top investors, and earn the Blast Airdrop.
Opensea can now render advanced NFTs, including modular, nested, equippable, and otherwise dynamic NFTs.
Magic Eden introduces NonfungibleDAO and the $NFT token.
Zora introduced follows and a new Canvas feature.
NFT-gated group chats added to Warpcast.
WEN proposes Wen New Standard new NFT token standard on Solana.
🕹️ games
🌎 global adoption
DeStore sells a phygital pendant on TV’s Opal Hunters, bringing mainstream adoption to real world assets and their digital twins.
Christie’s auction in partnership with Unicef for connecting a bunch of schools to the internet. Closes in just a few days!
GALLERY adds comments, top user badges, notifications, one-click collection adds, subcommunities, better NFT detail pages and much more.
Bonfire was revamped to better meet users’ needs of deepening fan engagement, better monetizing superfans, and more seamless fan onboarding.
Looking for something to listen to? Check out the SOURCE Talk Series which features artists from the SOURCE exhibition, curated by @operator_______ , @_deafbeef and @REAS.
South Korean telecom giant KT shuts down NFT platform, citing business conditions. At least they’re honest about the reason, unlike Gamestop.
OpenSea not sure how to scale or survive in a market with max 30000 real users, is open to acquisition offers.
Pudgy Penguins fires up a new OverpassIP campaign to license another 88 Pudgies and Lil Pudgies for real-world plushy production and royalty sharing.
🧐 interesting
sunflower 3D model hidden inside a yellow pixel - visual steganography ❤️
Defend privacy and free speech by contributing to Alex and Roman’s legal defense through an NFT purchase via Juicebox!
Art Blocks uploaded p5js 1.0.0 fully onchain.
📖 reading
An piece on Ana María Caballero, a Colombian-American artist and digital poetry pioneer, over at Sothesby’s.
RightClickSave has a great writeup on Metaverse as a Radical Medium.
Another great RightClickSave piece - an interview with Kim Asendorf about art going from web2 to web3 and his awesome glitchy work.
An interview with Ali Walker, London’s “boss” of luxury digital art. From relatively humble beginnings to the Asprey Bugatti Egg Collection, Ali has seen it all.
The Promises and Perils of NFTs: An Excerpt From 'The Everything Token': in their new book, Steve Kaczynski and Scott Duke Kominers discuss the ongoing challenges (and potential solutions) around diversity, regulation and decentralization facing the NFT ecosystem.
Richard Nadler Explores Memories of Japan in Generative Art.
Minting Is the Native Business Model for Web3 (and maybe AI too)
❓ Feedback
Last week we asked if we should post “announcements”, partnerships, and other easy to game publications. Luckily the community voted NO, so we will be keeping NFT Review clean, thank you all!
This week, we have another question for you: what type of content would you like to see, other than news / link coverage? This is an open questions on X or just drop a comment on this edition here on Substack or by replying to this email. Be as specific or vague as you want but really think about what it would take for you to be excited to get this email.
Thanks!
That’s all for this week, see you in the next edition! Got some links to share with us, artists to feature, NFTs to sell, jobs to promote, or events to popularize? Get in touch with Bruno and don’t forget to follow us!