{"id":373200,"date":"2021-11-27T16:54:00","date_gmt":"2021-11-27T13:54:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nfts-as-micro-social-networks-the-path-to-crypto-adoption\/"},"modified":"2021-11-27T16:54:00","modified_gmt":"2021-11-27T13:54:00","slug":"nfts-as-micro-social-networks-the-path-to-crypto-adoption","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nfts-as-micro-social-networks-the-path-to-crypto-adoption\/","title":{"rendered":"# NFTs as micro-social networks: The path to crypto adoption"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27396e31661\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27396e31661\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nfts-as-micro-social-networks-the-path-to-crypto-adoption\/#Groups_serve_as_epicenters_of_NFTs_projects\" >Groups serve as epicenters of NFTs projects<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/nfts-as-micro-social-networks-the-path-to-crypto-adoption\/#The_world_enters_the_Metaverse\" >The world enters the Metaverse<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/nfts-as-micro-social-networks-the-path-to-crypto-adoption\/#Utility_beyond_monetary_value\" >Utility beyond monetary value<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/nfts-as-micro-social-networks-the-path-to-crypto-adoption\/#DAOs_and_the_reimagining_of_governance\" >DAOs and the reimagining of governance<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># NFTs as micro-<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> networks: The path to crypto adoption <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Nonfungible tokens (NFTs) are evolving from a niche interest to a mainstream conversation. The variety of NFT art \u2014 from cuddly to edgy to menacing \u2014 is drawing in a new audience of enthusiasts. Beyond the art, NFTs are providing a glimpse into a new layer of social interaction.<\/p>\n<p>When framed as micro-social networks, NFTs could lead the way to a new form of social media based on creativity, ownership and contribution.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Groups_serve_as_epicenters_of_NFTs_projects\"><\/span>Groups serve as epicenters of NFTs projects<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Every week, dozens of Discord and Telegram groups <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear in support of new NFT projects. These groups serve as the epicenter for a project and help people connect and learn about the NFT space. A quick listen to a Twitter Spaces conversation with one of these groups reveals a wide range of people interested in NFTs. Some members are seasoned crypto users, many are new to NFTs and some have never used crypto at all. For first-time crypto users, these groups create a friendlier onboarding experience that reduces anxiety around getting started with crypto. <\/p>\n<p>The conversations in these groups reveal a shared interest in digital self-expression and a desire to connect with a community of like-minded people. Community values often form around art quality, rarity and the ideas that align with the emergent energy in the community. Like other forms of social collaboration, these groups tend to have identifiable leaders who have taken an interest in growing and nurturing the community. These members set the tone, help the community organize and ensure that the rules of the community are enforced. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/e8319f5f-1653-4d2d-b1c2-9f5273a90ee2.png\"><\/figure>\n<p>Each group is establishing its roles, values and codes of conduct \u2014 often in a way that echoes the animal traits or ideas in the NFT artwork. Ape Island Apes share monkey memes, Degen Yetis egg each other on with phrases like \u201cHaha, Yeti,\u201d and CryptoDads <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.one37pm.com\/nft\/art\/nft-twitter-meanings-definitions\">share<\/a> their best dad jokes. Across groups, there is a shared vocabulary for those in the know. Nearly all groups greet each other with \u201cgm,\u201d an abbreviation for \u201cgood morning\u201d popularized by CryptoTwitter. <\/p>\n<p>And it\u2019s common to see comments like \u201clooks rare\u201d \u2014 a hat tip or playful insult to the rarity of an NFT. This type of banter is the lifeblood of an NFT community and, for many enthusiasts, is replacing the endless scroll of Facebook and Instagram.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_world_enters_the_Metaverse\"><\/span>The world enters the Metaverse<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Big social media platforms have reached an inflection point. Regulatory concerns about digital privacy and declining user trust are prompting questions about the future of these ubiquitous platforms. As the world enters a new phase of digital interaction \u2014 a place some call the Metaverse \u2014 users are considering forms of expression and interaction that don\u2019t require giving up digital privacy. <\/p>\n<p><strong><em>Related:\u00a0Just buy it: Nike wants to bring sneakerheads into the Metaverse<\/em><\/strong><\/p>\n<p>NFTs could be a step toward new social interactions, a notion that might not be as far-fetched as it sounds. TikTok recently announced a creator-led NFT collection, Twitter is embracing NFT verification for profiles, and Coinbase is launching an NFT marketplace. These signals point to a mainstream audience which could broaden the opportunity to make NFTs an important part of our social connections. Big social media will continue playing a part but the ideas forming in NFT communities highlight a new type of social interaction built on NFTs instead of follows and likes. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/5fe3a17e-86ca-445a-850a-279a2bcf464a.png\"><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Utility_beyond_monetary_value\"><\/span>Utility beyond monetary value<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Communities are all vying for project awareness since it can lead to a rise in the \u201cfloor price\u201d \u2014 the average value of an NFT on secondary marketplaces. Beyond the average price, the most progressive communities are thinking about how to add value for members through perks and exclusive access. This kind of member reward is a wide-open opportunity to add new utility that goes beyond the monetary value of the NFT. <\/p>\n<p><strong><em>Related:\u00a0Beyond the hype: NFTs&#8217; actual value is still to be determined<\/em><\/strong><\/p>\n<p>The use of treasuries, funded by the project&#8217;s revenue, is growing in popularity as communities seek to act on their ideas. At the time of this writing, Nouns <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nouns.wtf\/\">holds<\/a> 13,722 Ether (ETH) in their treasury \u2014 an incredible sum for a decentralized community built around NFTs. CryptoDads is making beer and CyberKongz is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cyberkongz.com\/\">building<\/a> a banana vending machine that makes, you guessed it, more NFTs. Adding utility to NFT projects dominated by profile pictures and memes might seem counterintuitive. However, as these communities mature, they are finding creative ways to align action around shared values. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/fbeb0eb5-03c0-4f55-b839-d9dd56d482d6.png\"><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"DAOs_and_the_reimagining_of_governance\"><\/span>DAOs and the reimagining of governance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As groups find their way around community decision-making, a need for governance has spurred the idea of a decentralized autonomous organization (DAO). The Nouns community is reimagining governance via NFT ownership by empowering members with a \u201cone token, one vote\u201d approach. Members with at least 1% of the token supply can submit proposals on which the community can vote. As the decentralized web takes center stage, DAOs are becoming an important part of the conversation. Combining NFTs with governance structures seems like a natural alignment of values that rewards ownership and community participation. <\/p>\n<p><strong><em>Related:\u00a0DAOs will be the future of online communities in five years<\/em><\/strong><\/p>\n<p>A new social code \u2014 powered by ownership and collaboration \u2014 is embedded in the ethos of NFT culture. While the NFT narrative is still young, it is clear that a social layer is driving adoption. NFTs might prove to be the catalyst needed to usher in a new wave of crypto users.<\/p>\n<p class=\"post-content__disclaimer\"><em>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/em><\/p>\n<p class=\"post-content__disclaimer\"><em>The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Nick Casares<\/strong> is the head of product at PolyientX. The focus of his work is helping early-stage teams discover product-market fit. Over the last decade, Nick has served as a product manager, UX consultant, startup coach and community builder.<\/div>\n<\/div>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/nfts-as-micro-social-networks-the-path-to-crypto-adoption\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# NFTs as micro-social networks: The path to crypto adoption &#8221; Nonfungible tokens (NFTs) are evolving from a niche interest to a mainstream conversation. The variety of NFT art \u2014 from cuddly to edgy to menacing \u2014 is drawing in a new audience of enthusiasts. Beyond the art, NFTs are providing a glimpse into a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":373201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvMTY2MTE3N2UtMTFhOS00MjFhLThjMzEtMzBhNDQ0ODdlYmU0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74983,74891,95118,74355,7058,10401],"class_list":["post-373200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-decentralization","tag-ethereum","tag-nft","tag-adoption","tag-community","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/373200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=373200"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/373200\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/373201"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=373200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=373200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=373200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}