Status Monkeys - By Packy McCormick - Not Boring by Packy McCormick

This is the power of valuable NFTs: they are high in social capital and utility, and moving higher in entertainment. They hit the social network trifecta.

It wasn’t that network effects and Metcalfe’s Law were wrong, it was just that they didn’t capture the reasons that someone might use a social network beyond pure utility, so Wei proposed a new framework for analyzing social networks’ strength that added social capital to the mix.

Social capital, on the other hand, is harder to define and relies on the creation of a “successful status game.”

What if you could get the benefits of a social network in a more portable, decentralized package? It’s time to turn it over to NFTs.

Social networks reward early adopters, and a social network with money baked in gives early believers a double-whammy. Go explore. Find an NFT that resonates with you. Join a PartyBid. Get involved. And for the love of god, don’t be one of those older folks that scoffs at NFTs.

-Punk owners often use the image of their Punk as their profile picture (PFP).

Bitcoin issues bitcoin (BTC). Twitter “issues” followers.

PartyBid makes NFTs more social, with a literal party upfront and the opportunity for hundreds of people to buy, own, and manage expensive NFTs together in the back.

Utility is relatively easy to understand. If you can find the answer to your question on Quora or easily reach an old high school friend whose number you lost on Facebook, those products are providing you utility.