by Joshua Stoner
1) What’s the Difference between owning an NFT and having a Fan Club?
Hint: IT’S NOT A TRANSACTIONAL RELATIONSHIP. If I managed a band who started a fan club and aimed to sell 1000 memberships, but ended up selling 3X that, the 1000 people who purchased those original 1000 memberships and then shared out about the band do not benefit financially from the sales! In the NFT world, owners of the NFTs who are fans of the creator will be incentivized to share with their fans and followers because when others buy in, the value of their asset increases.
Our devices make it so we live in the most connected world possible, yet because of the way we use technology and social media, we’ve never felt more alone in our whole lives.
2) How exactly do NFT investors share in the profit of the project creators?
Here’s an example. Brian joined the Warehouse Club in 2005, which was launched by the Dave Matthews Band. At first, being an early adopter of this fan club of DMB was exciting but eventually as the band grew in popularity and the Warehouse reached saturation, one of the only remaining benefits was having early access to purchasing tickets to the shows. The members of the Warehouse did not benefit financially from being supporters, the band themself did directly, however. In NFTs, the Creator Economy is the new atmosphere in which we operate, where there is a tangible ownership component to involving oneself in a Creator’s project-essentially, project holders (collectors) help create the project as it grows along with the creator!
“However, by finding the harmony between technology and humanity, we will be able to help mitigate and remove that feeling of ‘alone’…to ultimately break down these barriers and make the world a better place.”
3) Ok, but how else do you benefit from investing in one of the four entry points of Web3?
It’s not the creator who has the potential to earn the most in this new *Creator Economy (driven by creator but extended to supporters), it is actually those supporters who hold the most social coins (ex: Brian Fanzo’s $ADHD coin) or the most NFTs in a collection (ex: MINT365 Season Pass or Founder’s) at a given time. If the creator of the project is entitled to 48% of the royalties (earnings from sales) and someone comes along and buys the remaining 52% worth of NFTs in the collection, then they would hold more financial value than the creator themself. This means that as more people talk about the project and increase sales of the coins or NFTs in the above example, then the more the individual holding that 52% will gain more revenue ultimately then the original creator themself. This is how NFTs and Social Coins in this new atmosphere differ from any other sector in real life or online.
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