Introduction

NFT market

2021 was the year of NFTs. We went from $1B in volume in 2020 to $25B in volume in 2021.

How to avoid the hype & create a strong community? The NFTs that I’m most bullish on all have these things in common:

Our goal

Let’s be clear. The goal is to 1/ gain experience, 2/ have an impact, and 3/ make money. We are not going to do a 100% non-profit. On the long run, this could turn into a non-profit though. I’ll give more details in the below.

We want to do NFTs for good. NFTs with an actual impact. Vitalik (nldr; founder Ethereum) has wrote an excellent article on legitimacy and how blockchains can be used for social good.

The Ethereum ecosystem's own public goods funding challenges are a great place to start! But this goes far beyond just Ethereum itself. NFTs are one example of a large pool of capital that depends on concepts of legitimacy. The NFT industry could be a significant boon to artists, charities and other public goods providers far beyond our own virtual corner of the world, but this outcome is not predetermined; it depends on active coordination and support.

He went as far as making suggestion as per how we could use NFTs for good:

  1. Some institution (or even DAO) could "bless" NFTs in exchange for a guarantee that some portion of the revenues goes toward a charitable cause, ensuring that multiple groups benefit at the same time. This blessing could even come with an official categorization: is the NFT dedicated to global poverty relief, scientific research, creative arts, local journalism, open source software development, empowering marginalized communities, or something else?
  2. We can work with social media platforms to make NFTs more visible on people's profiles, giving buyers a way to show the values that they committed not just their words but their hard-earned money to. This could be combined with (1) to nudge users toward NFTs that contribute to valuable social causes.

Vision

Social Contribution meets web3. Let’s abstract away the capitalistic driven aspect of web3, and use the funds for a good reason. All the while embracing the benefits of web3: