Author name: @nobumei (https://twitter.com/nobu_mei)
NFT has many elements, but the author believes that the key elements can be summarized into three: Flex, retroactivity, and network effect.
If retroactivity is engraved in the talking rough, a Flex experience can be obtained through NFT, and a mechanism is in place for the network effect to work, word of mouth will naturally spread and awareness will expand. At this point, marketing for the purpose of expanding awareness does not require a large budget.
Conversely, if the NFT does not fulfill this element, it will cost a great deal of money for marketing for the purpose of expanding awareness. For example, it is necessary to aggressively implement measures such as selling advertisements, finding collaborators to increase the value of NFTs, and announcing new uses that are exclusive to NFT holders, which requires a lot of human resources.
Human-driven is centralized, with people at the center, and is far removed from the Web 3.0 ideal. A project managed by humans leaves room for injustice at the behest of those in power, and users may be disadvantaged.
In November 2022, FTX, a crypto trial exchange, went out of business due to misappropriation of customers' entrusted assets. The incident occurred amidst a high level of social trust in FTX, with a world-renowned VC investing in the company. Users blindly trusted FTX, but after the incident, they were unable to withdraw their deposited funds.
Bitcoin, which created the blockchain technology at the root of Web 3.0, is an attempt to create a money & remittance network that continues to function autonomously without anyone's trust. If we are dealing with NFT, which inherits this idea, it is natural to have an attitude of pursuing the minimization of trust, or "trustless".
Ideas such as "it's run by famous influencers and big companies, and everyone has it, so it's safe" are the opposite of Web 3.0 thoughts, and the appearance of entrusting trust to someone else is derided as "bonding(Kizuna in Japanese)”.
It is fine to start out leaning toward centralization, but if there is a "smart contract", a more trustworthy and reliable means of conducting business than a human, but it is not structured, there is little necessity for it to be an NFT.
Kizuna NFTs may be a scam that tries to sell something worthless by calling itself "valuable". Therefore, if you find a representative who is eagerly marketing his or her own NFTs instead of structuring them with smart contracts, you should be suspicious of the value of the NFTs.
Kizuna NFT, which emphasizes marketing, is nothing but "noise" from the original philosophy of Web 3.0, but the majority of the current Japanese market is dominated by Kizuna NFT.
A future in which noise becomes the mainstream would be interesting and meme-like, but I hope to see the appearance of a project that is unique to NFT and follows the original philosophy of Web 3.0 by eliminating the noise.
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