On the value of bad NFT projects

Screenshot of Night Family NFT
The First NFT I purchased

Web3 forerunners acknowledge its onboarding problem while pejoratively framing unsuccessful projects as scams or wastes of money. As a learning by doing economy, web3 onboarding should be as cheap as possible, making a steady supply of non-blue chip NFTs critical for adoption.

Web3 tuition is the total cost of participating in your first NFT minting process, your first wallet transfer, your first gas fees, the time spent in your first Discord. None of this should be ridiculed if we truly believe there is opportunity for all.

After years of hearing about it, my lightbulb moment wasn’t until I found a project I was personally interested in. For some it may be artwork, photography, music, or some other expression of their identity. Regardless, the knowledge gained is worth more than the money spent.

The same goes for creators. Most creators won’t have a success right out of the gate, and there has to be a culture where “failure” is accepted if the community will evolve in accordance with its first principles. Their learning curve can’t take place until they give it a try.

There are valuable lessons web3 can learn from the design thinking community — specifically how to appreciate and welcome failure, normalizing experimentation and lowering its cost, and encouraging everyone to have a bias towards action, because it won’t make sense until you try.

Founder & CEO at Skilltype. Inaugural EIR at Boston University Libraries. Board emeritus at Rooted School. Native New Orleanian.

Leave a reply:

Your email address will not be published.

Site Footer