The best thing about the $jup drop was that for those of us with hacked old wallets it gave us a shot to get the tokens before the bots.
If it was airdropped then it would’ve been game over and someone else would’ve gotten the free money.
If you're curious about the future of @Boopieverse then read this.
If you want to see how I'm going to take something that started with NFTs and regrow it organically then read this.
If you're sitting on the toilet and need to pass the time then read this.
👇🏽
This was always going to be the case and will continue to be the case.
It’s just how it is.
You have to take things from a completely different angle if you want to build a community-focused anything where the thought of getting rid of your NFT makes no sense ever.
Hmm I don't think we're doing web3 right...when the narrative is "own a @MadLads or @tensorian and you'll be given X, Y, Z free airdrop" the value proposition isn't "how can I build value for these projects" it's "how can I personally benefit the most in this space"
Well...
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Whether you want to accept it or not, Twitter is dying which doesn’t bother me at all.
But if your livelihood is NFTs and you love the idea of them then you should be terrified because this is literally the only place they are talked about.
Best figure that out.
Maybe Solana users aren’t the people that we should be going after…
Sometimes the simple answer is to give people want they want vs trying to create a new market.
What solana users want is degen tech that allows them to potentially earn money.
Casinos, loaning, raffles, high yield games are the only PMF atm.
We’re building what you want.
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This is nothing against p0k0 who is a trader but this is a reminder to project owners that you can’t build for these people.
It’s impossible.
So figure out who you are really building for because the trader crowd wants a feature you don’t control.
Lets say you have 50 sol & you have to invest it all in one of these below today.
Which one do you think goes up the most in one month?
@LibertySquareHQ
@GalacticGeckoSG
@Claynosaurz
@Primatesnft
@okaybears
@oogyNFT
@BoDoggosNFT
@playtheheist
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Oh so now we get another layer to this.
Bring back all the merch and when you buy one with Solana Pay you also get an exclusive @oddwonderful NFT that can be used in the game.
It’s all finally happening.
The Shopify x Solana Pay integration is not "just" about payments.
It unlocks a new paradigm of loyalty programs.
Why is loyalty a big deal?
See image for valuation of airlines v. the valuation of their loyalty programs[1].
Loyalty rewards are banking businesses in disguise. Now every store owner can start their own loyalty program, or team up with other complimentary stores and split their customer acquisition costs (eg., how Hertz customers can earn American Airline miles).
Here's 3 loyalty programs every Shopify storeowner can enable *today*:
1. Points back. Points back allows merchants to reward a % back to customers.
2. Tiered discounts. This gives customers a discount based on their total spend. The merchant, selects a threshold spend, a % discount. As a merchant, you can update, add, or disable tiers at any time.
3. NFTs. This allows merchants to reward customers with a unique NFT every time they buy a specific product that you specify.
See more details here: shopifydocs.solanapay.com/ca…
[1] Source: youtube.com/watch?v=ggUduBmv…
Solana has low transaction fees and great speed.
It also requires you to:
- know what a wallet is and download it
- know how to move your funds to buy coin
- move that coin
There is no incentive for a merchant to actively onboard people if they have to teach them.
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Serious question, why does the Azuki team need to worry about floor price?
Holders aren’t going to take the project mainstream. Buying their $6,000 NFTs isn’t going to make it go mainstream.
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Is it time to bring back the hoodie to celebrate Solana payments on Shopify?
1/ 🛍️Shopify 🤝Solana Pay
Today, Solana Pay integrates with @Shopify, empowering the millions of entrepreneurs and merchants on Shopify to accept fast, web3 native payments with no transaction fees through the end of 2023. techcrunch.com/2023/08/23/so…
Learn more 👇
This is not a knock on Doctor at all. I respect the hustle.
But it also shows why games built around profit won’t ever make it mainstream.
The incentive becomes the money over the experience and culture.
Limits growth to a specific group.
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In essence, money ruins everything because people lose their minds when it comes to money.
That’s why the best use case of NFTs (imo) so far has been from 1/1 collections.
People collecting just to collect.
Take a look at this tweet.
Baldur's Gate 3 didn't take any VC money
Took over 6 years and $200m to develop
Sold 2.5m early access units in 2020 at $60 each - generating $150m gross from gamers who had no financial expectations
Crowdfunding at its finest
The game ended up being a huge hit, generating $200m gross only 15 days after its launch
Those 2.5m early access buyers aren't involved in any decision-making via DAOs. Nor are they getting any financial upside from the success of the game. And they're completely fine with it.
But what if...
The studio behind Baldur's Gate 3 launched a token, pledged 10% of revenue to buy back this token regularly and allocated 100% of the token to the 2.5m early access buyers?
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Imagine running Pokemon and having meetings about how to make the 2003 Gold Foil Pikachu go up in price.
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Great post showing the huge disconnect between reality and what high-ticket NFT owners think.
NFTs are a Kickstarter, not an investment.
You hope the company delivers cool things but expecting floor price to move is out of a project’s hands.
The Devil's Bargain
Azuki took $40M into its treasury for Elementals.
In exchange, it lost >$250M in market value across all its collections.
Plus, the resulting contagion effect was massive as holders lost confidence in projects.
Total net loss? Maybe $500M-1B.
I took an L on my Azuki and sold a few days ago.
After thinking it through over months, I am not convinced that the team acted in the good faith for its community or the space.
It is also difficult for me to reconcile their plans - Anime and Collector's profile - with a return in gains for holders.
More importantly, the dilution will always be THE killer.
Luxury brands require a premium positioning.
No one gives a fuck how many badges you have if the brand you're repping is meh.
I have many friends in Azuki and continue to wish holders well. I -might- yet return. But I hope the numbers put into perspective the severity of the situation and how much of a fuck up it is.
Peace.
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Here is the only shot I see of NFTs becoming a thing.
And yes I will build this.
First, you can’t start with NFTs. You just can’t.
Ignoring the price aspect, it’s a tech hurdle. It just makes no sense for people.
So don’t start with NFTs.
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