Hirst brings us face to face with art and money. In Hirst's view, art is the most valuable currency in the world.
What if he's right? What if we could borrow against punks, apes, dogs, and Currency? Wouldn't this empower the everyman? I think it would.
I have Top Dog Beach Club NFTs. I love the team. Today the team just announced their $SNAX token. I get a few $SNAX tokens for each NFT I own. Then I get a more tokens for holding my NFTs.
This is neato. Because just by holding my NFTs, I'm gaining value. No bank can do this. What if I could swap my tokens for ETH? Now I've realized significant gains. If all this adds up to just a few points in appreciation per year, I say this changes how we think of savings. NFTs become currency, as Hirst illustrates.
For me Currency also sheds light on the "followers" thing, which I've never believed in. I went back and looked at the tweets leading up to yesterday's drop. Not one "influencer" I know of was talking about the drop. The only one I saw, brushed it off. That was a signal to me to lean in more, learn more about Currency. It brings to mind lyrics from the Chuck Berry song, You Never Can Tell: ""C'est la vie," say the old folks, "it goes to show you never can tell".
Currency reminds me that NFT is all that's interesting in crypto. Bitcoin? Yeah sure, I have some. But what else is there to talk about other than price?
For example we haven't even begun to see what's coming with NFT. Starting with music.
I love all my vinyl. Each one is art. NFT plays perfect here.
NFTs create never-before-available connections with their fans. They allow the artist to build a direct channel to their fans.
Right now artists rent back their fans from social. The social networks provide artists at best, limited information about their fans. Worst, the artists have to pay the networks for this "service". NFT breaks the mold.
Artists could mint Ltd numbered vinyl as NFT. Artists could then airdrop me concert announcements, alternative cuts, concert clips, etc. No social media needed. The NFT becomes an interactive layer of the vinyl. When I'm gone, my son could sell my vinyl on OpenSea - the artist gets a percentage of each sale.
Concert posters and memorabilia are also perfect for NFT. This week I'm heading to the Phish tour opener in Arkansas. I'll also be at the Dead & CO tour opener in Raleigh. For both bands, these are their first shows since the pandemic. The energy will be off the charts. The poster from the show will be a must-have.
The poster should be an NFT. Again, because of the channel it opens up between me and one of my favorite bands. When my son sells the poster the band could get a percentage of the sale.
Minting posters as NFTs eliminates the counterfeit market, always a concern when buying a poster off of eBay or wherever. It's better for the artist, the buyer and seller.
Here are some of my Phish and Dead & CO tickets.
These are special, ltd edition tickets you have to apply for in a lottery. As you can see, each ticket is a piece of art. I treat them that way, as does every fan.
These tickets are ideal for NFT, for all the reasons I just mentioned. Plus, I never have to worry about them being damaged, lost, or stolen. I can share them.
NFTs are so exciting and I'm happy as a hooker with new shoes to see it all unfold. I'm so grateful to be along for the ride in another important period in technology.
Peace and love,