We’re all complaining about what’s ‘fair’ these days. When the number stops going up, CT starts bickering.
Issue #1: What do we really own? As the NFT market begins to mature, degens are finally beginning to read the fine print. Punk 4156 famously sold his punk this week for 2,500 ETH because Larva Labs does not allow NFT holders full commercial rights. Others are disappointed in CloneX’s mixed approach of ‘partial’ commercial rights for some avatars, while avatars with the ‘murakami’ trait have none at all. BAYC otoh gives owners full IP of their NFT, while Cryptoadz waives all copyright & other rights altogether. The truth is, 99% of us will never need the IP in order to ‘build a meaningful brand’ around an NFT, but we still love to hate restrictions of any kind.
Issue #2: Airdrops. We’re now squabbling over free money. Perhaps airdrops are preparing us all for future family squabbles when an estate is passed from one generation to the next. It simply never feels ‘fair’. Many missed the $ENS airdrop by days, while others made a killing. We’re all mad at Opensea for not releasing a token (still a small chance), we’re way too excited for a Metamask token, and we’re already arguing about the future BAYC token drop.
Issue #3: Minting. Punks Comic #2 had what appeared to be a ‘sensible’ tiered approach to rolling out their new comic, but the outcome was anything but. The project minted out in 15 minutes amidst an extremely high gas war amongst Founders DAO token holders. I arrived at minute 14, saw gas at 1440 with a few hundred copies left, and gave up.
The Solution: Realize nobody owes you anything. Constantly chasing giveaways, airdrops & whitelists is exhausting, and feels like someone trying to build wealth by clipping coupons and buying lotto tickets. Take a step back, form hypotheses, and invest in what you believe in. And yes, I’m definitely speaking to myself here.