*Consult with an attorney about securities laws which are not well defined in this area. But it does offer a workable model to raise capital for new businesses. It’s not something you would consider an investable asset as most new clubs/restaurants/events will probably fail in a year or two or three. Last week, Kickstarter made a rather terrible announcement: the crowd-funding platform would be switching its services to the blockchain, somewhere it absolutely does not need to go, but feels. Kind of like having a ticket stub from the first Beatles show. Early backers get various rewards for their support, plus they have an embedded option within the NFT to share in the upside.* If the membership/event/club/restaurant becomes wildly popular, the early backers (eg NFT holders) can sell that VIP access and status symbol to the highest bidder. Nike’s Cryptokicks), though this may be much harder to pull off for a no-name startup. They can also be used for limited-release physical products (e.g. Think country clubs, nightclubs, restaurants, industry events (IRL/virtual) or celebrity encounters (e.g., annual bowling outing with Gary V see screenshot below). So this is what I’m learning about NFTs, they are a promising mechanism for crowdfunding a new CAPACITY-LIMITED and/or HIGH-STATUS endeavors. (Of course, it could be worthless if Joe abandons the businesses, but that’s unlikely given his track record.) But it’s a screaming deal when you consider it’s likely to hold, or even increase in value, allowing the owner to go to the event free for years, then resell the token. That’s 3x what a single ticket costs, a fair price for a free ticket in perpetuity for a new event. Had I purchased one ( here), it would have cost 0.75 ETH (US$2,000 today). He calls the NFT, a never-ending ticket, which pretty much explains the primary benefit. I recently won an NFT in a raffle promoting a new conference, brilliantly named CEX ( Creator Economy Expo) by Joe Pulizzi. Note: This is a followup to my first web3 post discussing social tokens (the fungible kind) as well at NFTs. To purchase a lifetime ticket to CEX, you connect your crypto wallet (eg.
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