The title statement was made in a recent podcast that I hosted with Robbie Ferguson, the Co-Founder of Immutable. It struck me as a brilliant catchphrase, but to what extent might this actually be true?
In this report, we explore an eclectic mix of the artists contributing to the growing Crypto Art ecosystem. We provide an overview of the marketplaces currently available, as well as brief commentary on how we think things could evolve.
Unlike other NFT projects, rarity is not fixed in the Aavegotchi universe. It is constantly fluctuating based on a number of inter-woven dynamics. Your ultra-rare NFT might become less rare the following week based upon the overall distribution of wearables and traits throughout the universe. This enables a novel concept that the team has named “rarity farming”.
Social tokens enable an interesting take on speculative assets that trade based off personal brands in a manner we haven’t quite seen before. What’s more, they can be used to incentivize certain actions with surprising granularity for their issuers from subscribing to newsletters, to encouraging participation in product betas, to assembling an underground syndicate within an upcoming virtual world.
The degree to which a user identifies with and feels embodied in their avatar dictates how much money and time they are willing to invest in it. What’s more, is that people want to be able to trust that those investments aren’t going anywhere, and that they truly own and can transact that value.