Hype or digital renaissance?
On the report of thenextweb.com, just like DeFi’s money legos are about to revolutionize finance, media legos will deeply alter the social layers of the web. They will change how creators issue, distribute, and monetize their work while defining new rules for content exploration, collecting, and community building. This post dives into the paradigm shifts underpinning the internet renaissance and reveals opportunities for innovators.
Digital ownership and originality
NFTs are scarce, digital representations of a unique good or asset. BTC or ETH are also scarce but as monetary assets they have to be fungible – every unit is arbitrarily exchangeable for any other unit. NFTs are a horizontal piece of infrastructure that can be used to issue digital representations of art, music, collectibles, essays, books, virtual fashion or financial assets like invoices, warehouse receipts or real estate units.