The Needs of the NFT Ownership Ecosystem

The needs of the NFT ownership ecosystem are first and foremost that the owner of the media asset should be recognized, by giving the owner their own glory in the user experience, we make them an important part of creating a story, which increases the value of ownership and also increases A fee that an artist can charge. Where we traditionally see labels and studios as icons and the big companies that own them as oligarchs, we can turn our homage to the smaller startup collectors, perhaps not just the current owners, but the first It also makes sense that an owner who took the risk in the first place could see that they owned, or owned in the past and could enjoy it.

Of course, owners don't have to be individuals, they can be groups of fans, buying clubs and collectives, perhaps formalized in a DAO structure. This could change how media companies and platforms are structured under the value proposition of "ownership" with creators and consumers the way the two parties relate. In this way DAO's current and past media ownership is both a playlist and an index fund.

The second difference is the importance of tying to trading opportunities, i.e. the opportunity to bid or buy the asset and related assets. Someone who likes a comedy regular NFT may want to bid on an NFT, which is a collection of tickets to comedians' upcoming shows, this need not hinder a pleasant consumption experience, the app can be fully optimized for non-owners, while also providing smooth Path to Buying and Favorites, an interesting idea connecting these two differences involves owners who may want to advertise their own NFTs more prominently, similar to featured articles in the context of social media, rather than an explicit payment app's promotional presence, The owner may "stake" the NFT, contributing the resulting revenue, which may be a meaningful amount.

As we have seen, a high emphasis on NFTs generates a lot of economic flow. Due to the malleability of NFT standards and an uninterrupted relationship with creators, the consumption experience can provide features that are not available in today's media applications, and a song can have creators provided lyrics. Visual art can reveal its underlying layers; dance routines can include tutorials; work can change over time; act as programmable entities in response to external stimuli or other NFTs; assets that are part of a multi-artist collection can link to the rest of that larger collection Some, and perhaps other items with similar properties, the consumer experience may also take inspiration from game concepts.

NFTs can compete against each other in competitions and tournaments: dance competitions, rap competitions, summer countdown songs, jury-chosen movie awards, and prizes and promotions will flow to owners and creators. We'll also see NFT displays designed for public spaces, restaurants, shops, and clubs, and when we get together again, venues may even generate revenue from digital shopping, as these apps may offer personalization, delivered by explicit or Implicit interest or social graph driven, an important issue is how to manage user data.

Some developers will choose to store data on their own servers, as Twitter, Facebook, Spotify, and TikTok are doing now, and the performance benefits are huge, and it's a huge competitive advantage in the short term "having users ” applications will be more accessible and more valuable to investors, partners and advertisers. The danger is that one of the applications taking advantage of this becomes so large that it weakens the NFT’s economics of ownership.

For example, a dominant NFT application might require a large amount of transactions through its UX or PushNFT because it has a large stake in the NFT, an outcome that some consider acceptable provided the artist and owner Equity or income from participating in the application themselves through tokens, which may be based on the basis and extent of their participation. This could be the nearsighted, widespread adoption of decentralized identity systems, the last mile preventing any one app from taking control of data ownership, and could be the best way to ensure a competitive landscape where artists and collectors get the best deals, hopefully famous NFT creators And investors can vigorously advocate for this approach.

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