Right now, NFTs are simply assets that you buy and sell. It’s transactional, and you can find many different niche vertical marketplaces with creators and collectors alike. Those use cases, mainly centered around expensive digital items, still remain niche. They only optimize one type of metric: assets price, volume, favoring the “collectors” persona buying expensive rare items. To keep their buy prices low, collectors are actually incentivized not to tell others. Those platforms only take NFT as their raw state: assets.
To get more out of digital items, something major is lacking. So major it got us all online in the first place: social. People simply don’t talk about crypto or decentralized finance to their friends — but they talk about popular creators they consume content from everyday.
DeFi is mind-blowing tech for insiders; but social platforms will be the ones bringing consumers to crypto — and eventually become their gateway drug to DeFi. By speculating on future popularity of online content, people could be incentivized to share it. This unlocks new social capital for everyone, on top of the existing NFT perks. Social curation would mean better discovery for everyone, and result in more social and financial capital for all parties. We take digital assets not as a finished product, but as a primitive to build on: more than art or collectibles, it has the potential to become the foundation for any type of content online.
A social platform is how we get to the next billions owners of crypto assets.