I just caught a few moments of today's live stream with Robin Schmidt, The Defiant
I'll watch the entire piece later. But Robin made two profound points that've been on my mind:
1. the importance of having a story
2. DeFi isn't going to change the world
There's an age old saying in marketing that's been true for a hundred years, it'll never not be true. Which is,
you can change someone's behavior but you can't change their beliefs.
NFT artists think all they need is a Twitter or IG profile. Most all do the anon thing. This is a huge mistake. Because they're not telling their story.
My guesss, is they think, buyers don't need to know what they're about or who they are. This adds up to thinking they can change buyers' beliefs. ngmi.
Visionaries will buy NFTs without knowing anything about who they're buying from. That's because they don't care, they're only in it for the flip. Degens. But they're a small market. The mainstream market won't - because they'd have to change their beliefs.
Yes, NFTs are selling. But even so. The lion's share of the sales are going to projects or artists that do a great job of telling their story (punks, BAYC, Beeple), who they are.
If the NFT market (which of course includes the artist working out of their home) is ever going to reach the mainstream and grow past where it is now - a small bunch selling to each other - it's going to have to change its behavior. Because buyers want to know who they're buying from. They want to read about who they're buying from. They want to talk to them. They want to know their story. Because that's their beliefs.
Same for DeFi/crypto. One reason why either won't change the world is because they want the world to believe we don't need a bank. They're wrong.
When I send a wire at my bank if I screw it up I'm not going to lose my money. The bank will reverse the wire. But if I send crypto to the wrong address I'm fucked. I use the bank because of my beliefs. The crypto world isn't going to change that. ngmi.
You can get me to make a purchase using something else besides money - coins/tokens. I'm doing it now - I've bought apes, dogs, and even fucking eggs. I've got a wallet full of mistakes.
But you're not going to get me to make purchases using coins/tokens for much (anything?) else. Because I may want to do a return, or get a refund. If I got burned or the purchase wasn't as advertised I want protection. Because these are all my beliefs.
You can get me to switch my laundry detergent (behavior). But you're not going to get me to believe I don't need laundry detergent to wash my clothes (belief).
The DeFi/crypto world thinks they're going to change people's beliefs. They're wrong. Neither will reach anywhere close to potential unless they change their behavior.