NFTs and a Thousand True Fans

Richard Kim: Today, 99% of creator economy companies are thinking about how they can sell more stuff to fans — the next iteration will involve constructing a framework for shared upside that rewards fan engagement and allows for long-term games. It's not about the creator economy. It's about creating an economy.

music producer 3LAU just sold the first tokenized music album, an NFT version of his album, Ultraviolet, for $3.6 million. The NFT is also redeemable for additional perks such as a customized song. Again, it’s possible for creators to tie directly economic flows to these items, enabling holders of assets to receive revenue from the project as it la... See more

1000 True Fans >>> 1 True Fan (The Story Of The $25k NFT) Here’s another change in the scaling factor. There are new types of products that creators can offer that allow you to scale yourself in completely new ways, and allow you to price discriminate among your audience as well so that you don’t need to just scale your reach and reach mor... See more

For fans, the possibility of profit amplifies their incentive to support a creator. Interestingly, it also introduces an entirely new segment into the creator’s orbit that had never existed before in web2: speculators. Importantly, all of these users—by virtue of becoming owners of an asset that is aligned with the creator’s success—have an incenti... See more