I’ve been hinting about minting.
As a community builder and hybridized translator of technology, I’m proud to be surrounded by remarkable artists and nerds you need to know. As trailblazers continue to push boundaries, the decentralized, community-driven aspects of blockchain technologies has me in a curious state of pure wonder.
To test a blockchain technology, Nathan T. Wright and I teamed up to learn through action. We decided to explore non-fungible tokens (“NFTs”) by creating a new NFT collection called Roasted Reflections!
This caffeinated collaboration commemorates one year of YDNTB and is dedicated to connecting entrepreneurs, intrapreneurs, and community builders. Only 100 NFTs will be minted on OpenSea throughout the month of April. We’ve established two small, more exclusive categories of tokens that include bonus materials, VIP access, and tradable value. A third category has more NFTs minted as free airdrops for those who pickup the new YDNTB NFT Bundle to share.
This special NFT collection is now live, as the first NFT was minted on April 1st, 2022. This rare collectible comes with all sorts of perks and was appropriately titled, Hello World – #1, with a .412021 ETH price that pays homage to the 4/1/2021 publishing date for YDNTB. Two more tokens will be released into the RR collection each Wednesday until all 100 tokens have been minted!
What’s next? Watch your inbox for more details on this interactive NFT project, including a special invitation to a new Discord channel built for all of us to continue building together. My hope is that along with a fun way to collectively enjoy this digital treasure hunt, the Roasted Reflections NFT collection will be remembered as how my family and friends secured their very first NFT! In the meantime, here are a few of the lessons learned along the way.
– Humans enjoy collecting things together.
– Value is often based on supply, demand, and a sense of belonging.
– NFT minting creates a unique item connected to a smart contract.
– A smart contract for each NFT is then data stored on a blockchain.
– The first NFT was minted in 2014.
– Think less about how NFTs look or sound.
– NFTs represent ownership verified by data.
– These digital assets can also be used for various types of access.
– Categories in a collection provides scalability and diversifies value propositions.
– You need a digital wallet to receive, buy, or sell NFTs. (I use Coinbase)
– OpenSea is the largest marketplace to learn, create, buy, and sell NFTs, but Coinbase NFT is coming soon.
– Floor price is the lowest priced NFT in a collection.
– Weekend minting is often less expensive.
– Computing power for the verification process creates a harmful environment impact that needs improvement.
– Successful NFT collections are community-driven.
– The most expensive NFT sold for $91.8M.
– Airdrop is a fancy term for giveaway.
I can’t help but to think, perhaps the NES generation who grew up wasting all our allowance on sports cards as kids, was destined to bring this technology to life.
I thought NFTs were silly at first. Talking with others and thinking about smart contracts can transparently certify proof of ownership has made me think again.
In the future, perhaps NFTs (or similar blockchain technologies) will be applied to verify event tickets, legal documents, and personal property? What if a birth certificate came with it’s own NFT that had a smart contract secured to the same person’s death certificate? Weird stuff, eh! Tokenomics is still the wild west and NFTs are considered a speculative asset, but it’s fun exploring uncharted territory and it’ll be interesting to see if a community-driven NFT collection like Roasted Reflections allows more explorers to own a small piece of this new frontier.