30 NFT Patterns and Projects
Random Observation/Comment #708: Capital Formation (DAO) + NFT Auction + NFT Fractionalization + Secondary Market Royalties + Cashflows from Physical/VR/AR viewing
Random Observation/Comment #708: Capital Formation (DAO) + NFT Auction + NFT Fractionalization + Secondary Market Royalties + Cashflows from Physical/VR/AR viewing Social tokens for investing in the artist’s future artworks. The Future is now!
Why this list?
NFTs – so hot right now. I couldn’t of guessed it would be the thing that propels more creators into the space, but here we are in the middle of all the craze. Maybe institutional will pay more attention because it’s not a job replacing tech that requires integration with financial services mammoth infrastructure. It could have just enough demand from illiquid assets from High Net Worth (HNW) clients to buy net new software or connect to new rails/markets.
With all the rage, I’ve been paying attention to the design patterns and uniqueness of opportunities. Everything looks a lot like fundraising and staking, but NFT ecosystem growth is showing some interesting engagement opportunities. Here are the 30 projects I’ve found unique and interesting (beyond just putting a QR code on anything).
Headlines and Trailblazers:
Beeple $69M 5000 piece collection – Traditional auction via Christies of NFT work. A single piece of super high resolution art portfolio paid with ETH.
Crypto punks– Super OG – Uses Generative Adversarial Networks (GAN) algorithm to generate the punks and list them on NFT Marketplaces. Some more GAN Art like Zombie Xtreme High Yield Farmers. It was just announced that Christies will do their second auction on crypto punks.
GAN+DAO – This pattern allows for a voting mechanism on the parameters of the GAN piece. One can also sell the GAN algorithm so you’re buying the factory to the artwork creation
Euler beats – The novel creation of the ERC1155 standard to include royalties model on-chain. An on-chain royalty model allows the secondary market trading of the NFT piece to directly benefit the artist regardless of which marketplace they use. Centralized NFT marketplaces may provide royalty payments back to artists as a feature and marketing ploy to gain more creators.
Justin 3LAU (pronounced “blau”) – Everything this guy does is ahead of its time. So many creative pieces and snippets while experimenting with the full digital marketplace.
Top shots – From the creators of Cryptokitties built on the Flow platform, this GIFs collectible marketplace is for the sports and fandom enthusiasts.
Kings of Leon NFT Album – Tokens unlock perks with front row seats to concerts. Super innovative in adding layers of permissioning and direct-to-fans sales using the crypto rails as an alternative payment mechanism. This is also overlapping with physical world access and the “rundle” (recurring bundle) idea
Jack Dorsey’s Tweet via Valuables by Cent – Limited time auction and bidding for the specific tweet directly with a smart contract as the auction. More of a @sinaEstavi vs @justinsuntron bidding war. At least it was for a good cause
NFT for Content and Social
Opensea Extendibility – Most crypto/blockchain projects are extendable (it’s the world of open source). What I love about opensea is the concept of creating your own NFT Marketplace using their templates/factory/scaffold/APIs – This means the opensea compatible API marketplaces would be interoperable and create pockets of specialization. A marketplace of marketplaces. Imagine you could create your own ebay or etsy.
Rally – Social Token Platforms – Influencers sharing these tokens within their separate channels can essentially supersede the subscription across platforms. It’s the decentralized version of Patreon where you can launch your own coin and create your own benefits for owning it (including voting, unlocking features, etc).
Friends With Benefits (FWB) – Great example of a community token that launches in “Seasons” which provide a fixed period of time offering exclusive benefits to members and ways to earn tokens to actively participate. I see this as a way to participate in limited offerings and deals with other organizations (e.g. Substack). These partnerships are like the early days of podcast advertisements. It’s a new way to promote certain deals and coupon codes.
Mirror – Crowdfunding blogs and selling them as NFTs. I love their rounds aspect of this as it allows people to vote on the top creators to be given $WRITE tokens. The token distribution is scarce and limited competition/voting for twitter followers/support is a great way to dip your toes into altcoins.
NFT for Fundraising
NIFTEX – Fractional ownership of NFTs as “Shards” – Essentially choosing issuance and pricing for rare NFTs custody in a smart contract. Fractions stay on sale at a fixed price for an initial offering and set time. Post fixed sale period, they can go into the market under a $COIN where it can be listed. The reselling of the NFT original would need to be 100% collection of the shards.
Architecture Designs – Creating a digital rendering and floorplan first and then selling rights to hire and build to these specs. Super interesting pattern happening within the architecture community in order to be less of a worker paid by the hour and more of an investor in the project’s success.
$ESSAY – Unique Token offerings for funding projects – Ability to create a token and limit the hard cap goal for people to disrupt the publishing industry once again. Instead of having a forward payment from a publisher to write a piece, just create your own token, fundraise, write your piece, and share the proceeds with owners through the appreciation of the underlying token. This is like a crowdfund fungible token with an underlying non fungible asset (which people have been grouping into the NFT craze).
ZORA drops – NFT funding on the creation of artwork. I love the idea of voting on the outcome of the artwork and crowdfunding the creation of a unique piece. This can also be a collaboration of multiple artists.
NFT fi– Use an NFT as collateral to take out a loan. This is such a creative way of getting illiquid assets into a liquid asset so finances can be more easily managed.
Aavegotchi – – Crypto kitties 2.0 with defi staking through Aave. Mind blown!
Flamingo LAO – Using Openlaw.io to create legally anchored DAOs for fundraising specific NFTs. The voting process of the DAO will allow for specific NFTs to be purchased at digital marketplaces.
NFT for Permissioning
POAP– Proof of attendance via drops through badges as NFTs. The POAP badge can be collected and interpreted in multiple ways –> You can use this as a gating mechanism for receiving additional rights
Collab.Land + Discord– NFT for access to discord channels by integrating it for unique permissions – This was a unique integration from the ConsenSys Dev Rel team in order to integrate role distribution using Discord channel APIs and playing around with testnet. We’re able to issue these tokens in order for attendees to gain speaking rights on the live Discord sessions.
Crypto Voxels / Decentraland (plug on the ConsenSys Virtual HQ) – We’ve creating a little mini NFT gallery. $MANA is used to buy land and other items. It’s like a rebirth of SecondLife – In-browser viewing of a large virtual map. Creation of avatars and searching of galleries, artists, and collections.
Artblocks viewing of 3d world – I think I’m just impressed by the rendering possible and new videos created for virtual locations. I’m sure Minecraft is getting into this at some point. Bullish on Microsoft in general.
Physical Display of NFT Art – It’s a lot of TVs, but I’m very curious what they’re streaming. It could be simple renderings of the GIFs that sell in these auctions or it could be 10 second rotations of the latest highest bids.
NFT + Attendance Ticket Sales – If payments for attendance to the museums or art exhibits were also tied to the NFT owner showcasing their artwork, then the value of the NFT would be multiplied by its bids into exhibitions. Exhibitions themselves may be smart contracts that allow for limited showing and creates an auction for space.
NFT AR Overlays – Augmented Reality essentially uses the software and camera to generate a live overlay. The software for pulling the permissions to view a specific unique overlay could be a source for being able to generate unique interactive photos. I remember seeing this with some specialized fashion clothes that can then be shared onto all the social media platforms.
NFT for Art
Hashmasks / GAN Punk– The creation of these unique art pieces from trained data sets is fascinating to me. I think there will be “AI artists” emerging very soon that creates artwork based on your own taste (select the styles and generate the pieces). I’d love to see a gallery of net new pieces that learn from my favorite artworks and creates a merged/inspired artist.
Cryptoart – Great aggregation of data for showcasing the most expensive artwork being sold/bought across multiple marketplaces
NFT for Games
Immutable X– Marketplace for players in games to buy and sell items they’ve collected – This reminds me of a the Diablo 2 marketplace (which was shut down for the many loopholes it started to create for gaming/mining of items by paying for runners and resale into real $$$). I like it because it shows how random generation of pieces in the games can be resold in the market. It’s also slightly different because the ownership of the NFT is of the user and not on the platform, which means the stickiness of the marketplace is not necessarily there. You can move your collectible to where there’s most demand.
NFT Designers Marketplace – I don’t know if I’ve seen this yet, but I imagine specific NFTs will want to hire designers in order to create custom virtual representations in games. Hopefully the designers themselves can be added to the royalties aspect so they can be paid if this NFT + Designs for multiple games are sold. A specific NFT can then be valued by the number of designs that have been built for them (instead of just having ridiculous valuations based on the artist). True value of the NFT should be in the integrations.
NFT for Collectibles
Sacramento Kings Jersey by Treum – Authenticating memorabilia and using the games as event auctions
RAD collectibles – Film content on NFTs. I think the movie stars themselves on set would be selling items from the making of the films or TV shows. It is more and more likely that the identity or public addresses of these parties will be needed for authentication (creation by verified Ethereum address to be sent to specific fan’s address with proof of TX and ownership through etherscan/blockchain explorer/DID TX resolution)
NFT for Everything
OVR – NFT Lands for auction – Virtual layer that overlays a map of the physical world into 1.6T hexagons where each hexagon is an NFT for purchase and trade. $OVR tokens had a public sale and are used to purchase these lands. Super interesting is their crowd sale issued tokens through a DEX and a bonding curve. Check it out on the OVR whitepaper.
ENS, Unstoppable Domains, Handshake – Domain names and Certificate authorities for asset registries are super useful and remind me of early days in squatting on DNS domain names. I believe this level of identity with DIDs will be key to interoperability
Boson Protocol – NFT encoded with game theory – I think this is just a good tagline. The overlap of real world items, money, and data allows for digital commerce –> “Digital Autonomous Commerce”
Nori Carbon Removal Marketplace – I love the idea of specific counties or states putting bids in order to incentivize the carbon credit removal process. Hopefully the distribution of the funds to these areas allow for actionable change (and not just people getting a token worth more money).
WiV– NFTs for unique physical assets. Currently for rare bottles of wine, but eventually for whisky. I can imagine someone wanting to buy barrels from distilleries (but not sure if this is just a new payment method or added way to prove ownership)
Visualization of the Data – It’s becoming such a beautiful space and Cambrian explosion of creativity
Why are there more than 30? It’s just such a crazy fast-moving area that has been accelerating. Just look through some NFT Hackathons for more inspiration.
~See Lemons Love the NFT Craze
Originally published on seelemons.com