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Pablo

March 7, 2022

The NFT Starter Kit

The advent of NFTs is a significant development in the digital world since it enables the owner to verify ownership. It functions similarly to a certificate of authenticity. This implies that even if you right-click and download the picture to your computer, only the owner can proof it, and everyone else can verify who the true owner is leveraging blockchain technology.

What exactly is an NFT?

A non-fungible token (NFT) leverages blockchain technology to produce something really unique in the digital realm. The term fungible refers to goods that are exactly the same in value and interchangeable. For instance, one dollar is identical to one dollar. Thus, non-fungible signifies that it is unique and cannot be substituted by another item. Non-fungible items include one-of-a-kind trade cards and this artwork I created. In the digital realm, NFTs enable the establishment of evidence of ownership with just one official owner at a time.

With NFTs, they are issued from a single source, and each transaction or transfer of ownership is registered on the blockchain, allowing you to virtually follow the whole history of that piece of NFT since prior data cannot be modified.

NFT may be used to verify both digital and non-digital objects. It might be a physical thing such as property deeds, concert tickets, or legal papers such as your immunization certificate, or it could be a digital item such as a tweet, music, or artwork.

NFT Features

Unique

Each NFT has its own set of unique attributes, which are kept in metadata as a blockchain token.

Indivisible

It is not divisible by fractions or decimals. Thus, a part of the NFT cannot be purchased.

Guaranteed Asset Ownership

Because an NFT may only have one owner at a time, purchasing one grants you exclusive ownership of a certain digital object. It is similar to purchasing a signed edition of the jpeg, except that anybody may see, save, and re-share the work on the internet.

Transferability

NFTs that are transportable over the blockchain may be transferred to another party, which indicates it is available for purchase and sale. Each transaction would be recorded on the blockchain, allowing for easy retracement and investigation.

Why are NFTS so popular?

Collectability

Some individuals appreciate art just for its aesthetic qualities, while others want to assist the artist financially. Because they have no intrinsic value other than what the market assigns them, determining their worth is difficult. Therefore, the market for NFTs is comparable to that of fine art.

Privileges

Apart from collectability, individuals want to acquire items to boast about them and have a sense of belonging to a tribe. As a result, profile photo NFTs have performed well. Because once you purchase it, you may set it as your desktop background. On Twitter or Discord, for example. In a similar manner, when you purchase a Rolex, you are demonstrating your status, while an Apple watch performs the same job at a lower cost.

Investing

Additionally, some individuals would invest in NFTs for the technology and the future promises made by artists and engineers. Simply by purchasing and selling the appropriate projects, you may earn money. However, you must first understand how to price a project based on factors such as the artwork itself, the founder, the road map, the utility, and the community. Additionally, you'll get an understanding of supply and demand and human psychology to determine if the project will appeal to purchasers.

Afterparty

The Los Angeles-based firm is developing a decentralized platform based on Web3 (blockchain web) technology to enable artists to monetize and manage their fan interactions and create live virtual experiences, while selling digital items. On the platform, developers may mint and sell their own NFTs (it claims it takes only minutes). They may distribute tokens to followers in order to provide them access to "token-gated" virtual events such as VIP parties.

The Afterparty Utopian collection comprises 1,500 NFTs - each item is entirely unique and will exist on the Ethereum blockchain in perpetuity. Each Afterparty Utopian collectable will be minted in-person in the Afterparty House in Los Angeles and will serve as a portal to the whole Afterparty world. The owners of these NFTs control the kingdom of the Afterparty.

The Beginnings of Afterparty

Afterparty began testing its beta in June and plans to launch its own Ethereum-based NFT marketplace in 2021’s autumn. According to the firm, designers may choose from various professionally designed NFT frameworks to quickly develop polished, aesthetically attractive, one-of-a-kind NFTs that are faithful to their own brand identity. These NFTs perfectly integrate with the events platform, enabling artists to give collectors special experiences and items. The Afterparty Utopian Collection serves as a gateway to the house's handpicked events, which bring together the most daring, risk-taking artists, creatives, and entrepreneurs.

Technical Aspects

  • Afterparty's NFTs act as verified digital assets, providing owners with access to exclusive events and the dynamic community that is Afterparty - the festival brings this all to life.
  • The initiative is using the Polygon sidechain to remove gas charges, as well as expenditures associated with computers and electricity.
  • Afterparty is built on the blockchain's transparent and secure digital ledger and leverages Layer 1 infrastructure (or solutions contained in the blockchain's core protocol).
  • Artists have the option to pick between Ethereum, BitClout, and other developing Layer 1 platforms for their underlying NFT or social token, allowing them to profit from a more decentralized creative economy via a direct artist-to-fan interaction.
  • Afterparty develops technologies that enable artists to discuss with their followers and develop deeper relationships over time. Additionally, it desires for followers to be a part of a creator's long-term success.

Novel Business Model

We're curious about the post-NFT experience. And, although the first incarnations of NFTs focused on digital art and collectables, the digital trading card and new business models are on the way. We are unveiling our first large-scale creation tool today. Creators are experimenting with social tokens, but they are unsure how they can offer value.

There is a plethora of other methods for musicians to connect with the band, the creator, or the musician's work. Afterparty saw an opportunity to capitalize on the extra interaction the fans wish to contribute. And then there's the fact that all of these social natives, all of these artists, have insane social media followings.

Afterparty created and tested its event platform on BitClout and is supported by some of the site's most prominent producers, who have already recognized the potential of this novel revenue strategy. Through the use of one-of-a-kind NFT collectables, producers may use Afterparty's Web3 capabilities to establish community. Additionally, the platform assists producers in establishing relationships with NFT artists in order to improve the quality of their NFT products.

Future Initiatives

Afterparty Announces the First NFT-Gated Art and Music Festival in the World at AREA15 in Las Vegas, NV, March 18-19. The Afterparty NFT Art and Musical Festival will unite top NFT artists, musicians, makers, and collectors to dedicate a live experience to the NFT art movement.

Afterparty will open the NFT Art & Music Festival with some of the world's most intriguing creators in a setting that looks to have been designed just for hosting an event highlighting artists pushing the limits of art and music. Witness the first-ever NFT-Gated Art & Music Festival in Las Vegas, Nevada, in the one and only Area 15. Possessing an Afterparty Utopian entitles you to artist level access, a +1, and two more single-use NFT passes that you may gift to friends or sell on the open market.

NFTs enable producers to create one-of-a-kind collectables to auction off to the most ardent fans or just offer as a token of appreciation for fan devotion. Additionally, the Afterparty platform enables artists to arrange private live events for their most devoted followers.

The event expands on Afterparty's initial aim of providing artists with the tools and community necessary to achieve their Web3 potential by bringing token-gated experiences from the metaverse to the real world. This initiative was produced in partnership with former Life is Beautiful partner Ryan Doherty and former Kaaboo senior executive Chris Racan, and under the creative supervision of top NFT artists Nate Mohler and Alec Maassen. Furthermore, this will be the first festival in history without tickets.

Links DAO

LinksDAO is reimagining the golf and leisure club of the future. Thousands of fans from all corners of the world have joined together to build one of the world's best golf clubs and rethink the dynamics of country clubs. In early 2022, the LinksDAO community will form a DAO charged with the mission of establishing the club of our collective dreams and determining the initial course of action to acquire and construct that experience.

DAOs

In principle, a DAO is a decentralized autonomous organization (DAO) that a single person or institution does not administer. Rather than that, its rules and governance are encoded in smart contracts and cannot be altered unless by a majority vote of the DAO's members.

A DAO is a self-governing organization that lacks a centralized leadership structure. In other words, DAOs are member-owned and member-managed internet-native organizations. They include treasuries that are exclusively accessible with the permission of their members. Decisions are made by groups voting on ideas over a predetermined length of time. Decisions are made on a bottom-up basis, regulated by a community structured around a set of rules enforced by a blockchain.

A DAO operates independently of hierarchy and may be used for a variety of reasons. These organizations enable the formation of freelancer networks in which contracts pool cash to pay for software subscriptions, philanthropic organizations in which members authorize payments, and group-owned venture capital businesses.

DAOs benefits

Several ways in which DAOs directly benefit their members include the following:

  • The ability to invest freely in the numerous DAOS that we think are the most valuable.
  • Complete ownership of the investments in which you participate; entities are held programmatically accountable for any creations resulting from a DAO crowd sale, boosting the likelihood of consumers receiving a return.
  • Enables people worldwide to invest in businesses/organizations on an equal footing.
  • Complete transparency protects customers' money and keeps them aware of important company choices made in real-time.
  • The ability to trade and sell your one-of-a-kind DAO tokens peer-to-peer without requiring advanced technical/financial skills.
  • Investors in a DAO may participate in a project from conception to exit – all without ever having to navigate onerous regulatory barriers or complete time-consuming paperwork.

Membership Card Sale

The purchase of each NFT represents a transaction in goods and does not constitute a promise or guarantee of future services from LinksDAO. However, LinksDAO will make reasonable efforts to ensure the establishment of a DAO that enables you to unlock expanded functionality associated with the Membership NFTs. Participation in the golf and leisure club will be managed by club regulations, which will be determined in collaboration with the DAO when the club is founded. Net of taxes, the earnings will be utilized to finance DAO activities.

  • Chief DAO Officer and operational leadership, including course scouting, financial planning, and acquisitions.
  • Product development and engineering
  • Establishment of the DAO infrastructure and associated costs
  • Legal, regulatory, and accounting
  • Marketing, collaborations, and sales
  • Development of the community
  • Additional activities as determined by the DAO

Governance in LinksDAO

LinksDAO intends to use cryptographically secure blockchain organization management technologies to automate and increase transparency around some areas of the club's organizational governance, referred to as a "decentralized autonomous organization" or "DAO."

Furthermore, LinksDAO NFTs will provide community access, governance, a diverse set of benefits, and games in the near future. They will serve as the key to the membership at LinksDAO's first golf and leisure club. In early 2022, the LinksDAO community will form a DAO charged with the mission of establishing the club of our collective dreams and determining the initial course of action to acquire and construct that experience.

The formulation, approval, and implementation of non-financial LinksDAO transactions, including but not limited to:

  • Approving the functional operational committees of LinksDAO
  • Process for selecting and approving physical clubs, as suggested by the appropriate operational committee
  • Club regulations, which include the club's culture, activities, appearance, and general vision
  • Regulations governing club membership and admissions
  • Marketing, collaborations, and sales

NFT Sales

LinksDAO gets royalties on secondary sales of the NFTs and has already reaped an extra 83 ether from the market, or almost $311,000 at current pricing, the company tweeted Tuesday. It claims to have raised about $11 million in total. The proceeds from the sale will be used to establish the DAO, as well as operating expenditures and legal fees, Daily reports. Proceeds will not be used to acquire a physical golf course.

The NFTs were offered at two distinct pricing points: 6,363 "leisure membership" NFTs sold for 0.18 ether, or $674 each unit, while 2,727 "global membership" NFTs sold for 0.72 Ether, or $2,699 per unit. Each tier included privileges such as governance rights for LinksDAO, event admission, and other rewards.

Future Initiatives

The group stores the proceeds from the NFT sale on a multi-signature platform called Gnosis Safe. This implies that any monies transferred via the digital safe need the signatures of numerous individuals. Owners of the LinksDAO NFT will get savings on Five Iron rentals, instruction, food & beverages, and fitting services. Additionally, Five Iron will organize yearly LinksDAO appreciation dinners at each of its stores nationwide. Holders of the LinksDAO NFT will be eligible to win a complimentary round of golf at a Top 100 golf course. LinksDAO's more elite Global NFT holders will additionally get a complimentary month's membership at Five Iron and annual gratis golf instruction.

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