In the near future, art will be only a segment of NFT usage andd may be more common that the NFTs wiill be representing financial assets # [[NFT]]s as - [[Art]] & [[collectible]] - [[NFT DeFi]] - [[Game]] asset - [[Metaverse]] - [[Utility]] & DAO Uniswap V3 for example uses NFTs for their liquidity provider positions, on KeeperDAO lending positions are encapsulated as NFTs, and on Alchemist an NFT is used for customer wallets. ## Marketplace for collateralised loans - Lend NFT - Take out loan in ETH - Pay back - Get your NFT back https://nftfi.com/ ## Data Structure NFTs themselves aren't the images uploaded to a blockchain. The images can be stored on a decentralized network, or a centralized network. The NFT is just a data structure (token), and links to a metadata file, which in turn may be pinned to an image (or other file type) - Colin Platt Controller of the contract that the NFT metadata and token data structure holds can modify the artwork by reuploading it on-chain. ## Art - NFTs is like autograph from artists - NFT is something prominent, unique and exclusive - NFT as creative evolution ## Auctions **Superfans as LP** - Community members providing liquidity to the token - stake your tokens to be apart of the community - LP tokend grands the access to the community, services, exclusive drops, discord server... Auction - At the end of the auction, the highest bid is automatically accepted and the NFT is transferred to the highest bidder’s wallet. - The number of tokens minted are based on the USD value of the highest bid. - The NFT + 50% of the fungible token supply are transferred to the highest bidder’s wallet. - The 50% of ETH received on the collection drop are transferred to the creator’s wallet. - A Uniswap pool for the fungible token is created. - The smart contract deposits the respective funds into the pool to bootstrap the community’s token liquidity. Source: https://davidtomu.medium.com/a-co-owned-fan-club-7e5b0aece3a2 # Certificates Example: an on-chain cryptocredential earned for solving a single exercise. Non-transferable because can’t be sold. Fungible because all did the same exercise. Source: https://twitter.com/balajis/status/1403354268971634689?s=20 tags: [[social-tokens]] [[community-owned]] [[NFT]] [[token]] [[auction]]