If it’s tied to the creator, the income from everything that they build should flow into the token. But if it’s tied to a set of work, the creator is free to start new business endeavors without feeling like they’ve already sacrificed a significant portion of their equity. That then leads to another set of considerations. If all of a creator’s exis... See more

It’s easy to see why NFTs inspire both excitement and deep skepticism: They’re a completely novel asset class, and we don’t see new asset classes appear that often. But what drives the value of an asset that’s really just a digital token people can pass around? To appreciate NFTs properly, we first have to think through what they actually are and t... See more

When it’s minted, an object can have a profit-sharing agreement burned into its soul. Let’s say I sell the object I minted to the influential collector Katerina Hash-Jones and, simply by dint of her ownership, its value skyrockets. (Katerina only buys the best.) She sells it for 10X what she paid, but/and because of the agreement embedded in the ob... See more