6 min read · Feb 27th · Non-fungible tokens offer fundamentally better economics for creators by removing rent-seeking, enabling granular pricing, and reducing customer acquisition costs.
To be a successful creator you don’t need millions. You don’t need millions of dollars or millions of customers, millions of clients or millions of fans. To make a living as a craftsperson, photographer, musician, designer, author, animator, app maker, entrepreneur, or inventor you need only thousands of true fans. A true fan is defined as a fan that will buy anything you produce. These diehard fans will drive 200 miles to see you sing; they will buy the hardback and paperback and audible versions of your book; they will purchase your next figurine sight unseen; they will pay for the “best-of” DVD version of your free YouTube channel; they will come to your chef’s table once a month.
On Substack, 1,000 newsletter subscribers paying $10/month nets over $100K/year to the writer.
7 min read · Apr 4th · Before tech, I was an artist manager in music. When I started the firm, I believed one thing about the music industry very firmly: ownership endows power. Typically, labels had ownership over the…
8 min read · Apr 2nd · The a16z NFT Canon is a curated list of readings and resources on all things NFTs, organized from the big picture, what NFTs (non-fungible tokens) are and why they matter... to how to mint, collect,…
4 min read · Mar 6th · Like most traps, they’re mysterious and then appealing and then it’s too late. An NFT is digital treasure chest, a status symbol and an apparent item of value. Like a Pokemon card, or a…
10 min read · Jul 26th · The wild boom and bust of art NFTs made many onlookers wary of blockchain-based technology — but new developments in gaming, ticketing, and music royalties reveal NFTs’ true power
7 min read · Apr 7th · The complexity and arbitrariness of non-fungible tokens are a big part of their appeal.
An essential part of NFTs’ value is that they don’t convey anything resembling traditional ownership. When patrons support artists with a grant—and perhaps receive a public thanks from the artist—they are not buying works, but rather publicly signaling their commitment to the artist, intertwining their respective reputations. They are conspicuously consuming vapors, and the very intangibility of the benefits contributes to the conspicuousness.
The NFT craze, and the blockchains underlying it, lay bare the philosophical questions around why we treasure things beyond any tangible worth to us—and the leap of faith we indulge, wisely or otherwise, when we buy something not because of any innate worth to us but because we expect others to value it later.
1 min read · Mar 17th · Non-fungible tokens, or NFTs, recently attracted mainstream attention after an NFT artwork sold at auction for $69 million, and many people are struggling to understand what NFTs actually are. The…
7 min read · Mar 18th · Photographers, filmmakers, and digital artists are falling over themselves to mint NFTs in a get-rich-quick scheme that will do little beyond transferring wealth from artists to tech billionaires. Why…