A Love Letter to the NFT Space Titelbild

A Love Letter to the NFT Space

A Love Letter to the NFT Space

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 In a market filled with self-serving, extractive asshats, the most important variable is:INTEGRITY + ALIGNMENT + CONSISTENCY + REWARDThat equation equals PFPEPE — the Blue Chip PFP Pepe project the space needs but doesn’t have.Just like ICT tried to create before,the Marketthe FEDCognitive Bias PartnersOperation Choke Point 2.0IRL Responsibilities all got in the wayICT previous NFT Projects were ARTIST FIRST, ROYALTIES FIRST, and ICT previous NFT Projects (regardless of market effects and naming “restriction”) were always ART FIRST, ARTIST FIRST, ROYALTIES ENFORCED.Long-term commitment — like Max Pain, Color Study, Checks, Openpen, or Otherside — is the real test of a founder or artist’s commitment. Perseverance thru negative market conditions is the test of that commitmentThe goal was using market ROI potential of holders getting “gated membership benefits” to spread awareness of great ART — in turn, turning pass holders into the strongest aligned cheerleaders of both the project itself and the Artists contributing to the projects Art.That programmatic execution caused real interaction between holders and artists:Collectors buying and supporting works outside of the “ICT previous NFT Projects” system.It was onboarding real and new collectors into artists’ work within that system’s sphere.ICT previous NFT Projects were first.Proof came to market faster (they had a team and VC funding; ICT had himself and one co-founder). After came former “project members” who used the roadmap, membership discord, and artist interactions to “COPY AND PASTE” the roadmap and intent of the project. ICT didn’t hold i’ll will towards them, a good idea is going to get emulated. But like anything in life, there is a RIGHT and WRONG way of doing things. Stealing an idea is one thing, front running announcements, forming your own mirror image project with large investment and monetary backing, and reaching out with that money to poach artists you knew ICT project was working on getting onboarded, is another thing. The people I’m speaking of, know exactly who they are. I don’t need to call them out. Karma can be a mother f****r. For contextICT previous Art first project had the following budget and investment-0$ -0$ VC or investment or seed money1x Idea2x FoundersEndless hours of DMs, buying art, online in perpetuityMonths of time and focus reallocated from relationships The entire thing was built on TRUST, Aligned Incentives, Love of Art, and CommunityBut 3 members specifically did the “Biggest form of Flattery”By using discord conversations and private DMs to use MONEY and private conversations to Grift like a politicianThey didn’t just WETH everything and leaveThat came later lolIf I would have put there “new and innovative” idea into ChatgptIt would have said “Copyright Infringement” “Theft of Intellectual Property and Ideas” “Project Espionage”But I don’t hold a grudge I don’t even know what happened to those projects As living in the past is the only way to ensure don’t move forwardICT previous NFT Projects were completely organic.They used relationships and aligned incentives for execution.KRO, COZOMO, Krybharat, Cyborgnomand, and other large collectors were membersAlong with many of the contributing ArtistsThe artists work contributing spoke for itselfThe blindside gap — the failure risk — was not fully appreciated.ICT did not think royalties would go awayThey were the foundational and critical use case of NFTs as a sector.Royalites were how the project minted once and then you were locked in for great art and other innovations, membership benefits, for 2 yearsRecurring revenue built on continually increased value propositionsIncome from Secondary Sales as the Team Executed and bigger and bigger Artists and Collectors became program champions WAS THE BUSINESS MODEL Then Blur really fucked the space.The sustainable business model collapsed — visible in secondary prices and the overall demeanor of the market.When ICT needed to step away due to IRL responsibilities and Operation Choke Point 2.0 banking/funding risk, he made sure ICT previous NFT Project had a quality replacement— smart, capable, a good collector. Who had already apprently been pitching the idea to the other co-founderWhen the partner briefed a rebrand and a move to Solana, ICT stepped back entirely.If they wanted his opinion, it was a colossal mistake.Certain project death.Predictable and inevitableYou don’t know what you have until its goneYou take people for granted for long enoughThey won’t be there when you need themDon’t forget who got you to the dance in the first placeRight Founders……? BTC/ETH are the only chains that matter.Everything else is secondary and developmental.ICT is a Program Manager and artist/talent-relationship specialist.This is why he gets recruited IRL by Banksters and Wealth Management divisions.He knows markets better than their bosses — ...
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