FUD FAQ | A Weekly Community Thread | Week 35
FUD FAQ | A Weekly Community Thread | Week 35
Top Question of the Week
• Does making lots of money in web3 really mean chasing after the approval of or trying to become the giants of web2 and traditional fashion?
Notice me Senpai.
No.
If anyone has been paying any attention to what is actually happening in web3 there is no need to go chasing after the old money, old fame and old clout in a misguided attempt to get their approval when we all know that they are never going to give a damn about us. Their only strategy is buy, copy and kill. Rather than trying to become them by wearing new branding, comprehensive decentralisation of technology, governance and capital allows us to leap far ahead with thousands upon thousands of new designer realms, brands and labels creating new wealth using web3 and pioneering the metaverse to the fullest. Anything less is just so boring, and frankly, if you don’t already know it, you are NGMI.
Most Common Repeat Question
• What is double minting, why does it matter and what is the difference between that and derivatives?
Double minting is when a designer or creator mints an NFT of something they designed or created and then goes and mints more later claiming that this second mint was in-fact the first and only mint.
The difference between a double mint and derivatives stems from communication and intent.
Derivatives are great. And in fact, if you are not open to having derivatives made of your work, remixes and mods, then not only are you putting a very clear ceiling on the potential of your work and its value, but, you are also actively pushing away the community that could be engaging around it. The real value of the NFT is not in the metadata but in the metastory— the relationships forged between you and the buyers, collectors and broader community, as well as the expectation set when a piece is claimed to be unique and isn’t.
When a creator is disingenuous it not only harms them and their buyers, it also harms the impression of what people have of NFTs as a whole. Web3 is too valuable to ignore when people pretend to embrace it whilst really only being in it for short term personal monetary gain. As great as money is, the ability to create and circulate capital is far greater.
Top Controversies in the Industry
If you don’t own yourself and every part of it then someone else owns you. Take a look at the full thread. But TLDR it’s pretty freaking scary how close we are to being totally owned by Zuckerberg and his buy copy kill compatriots.
Silly Fails and Trolling
It’s a shame when web2 platforms that are in a great position to transition over to web3 and the open metaverse get shamed into submission and backtracking by angry mobs of misinformed, toxic centralisation simps who fail to recognise the transformative and radically positive power of new technologies like NFTs. Same thing happened with Discord and now Creative Commons. How anyone can stand up in defense of the old abusive systems and against the strongest tools (i.e. NFTs) for combating the legacy of exploitation in centralised winner take all closed off walled gardens is beyond me. It is so laughable that it is painfully absurd. Like, do they realise they are campaigning for more dystopia?
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