We all communicate daily, but HOW do we do this? 

Application to NFTs & why besides utility they'll have a strong future 🧵 

#NFTCommunity #NFT

Communication are ways in which we sends messages to others.

We do this through; speaking, texting, facial expressions, touch, eye contact, clothing, cars, jewellery etc...

NFTs can be seen as "Veblen Goods".

So what is a Veblen Good?

A Veblen Good is a good for which when the price increases, the demand for that good increases. 

Explanation with application to NFTs

In the past, we've seen expensive jewellery, watches, cars, yachts etc... be examples of Veblen goods.

As the nature of the world is transforming and taking over digitally, it makes perfect sense for NFTs to be next in line.

Veblen goods behavioural impact on society and consumers. 

Research has demonstrated that after a purchase of a Veblen good, consumers feel happier, more important and exclusive. 

They are seen as a representation of status, ownership and wealth. 

Furthermore, when a good is perceived as difficult to purchase, consumers are willing to pay more for it.

Which correlates to the art world, artists' artwork such as Picasso, Monet, Da Vinci etc... fetch in millions of dollars due to the fact they have a limited quantity.

Art, has now grown digitally into NFTs. 

With collections having a finite supply and the NFTs within these projects being 1 of 1's because of their various combination of traits it has made some collections eg. @BoredApeYC very expensive to purchase. 

Tying this back to communication. 

Veblen goods are a way to communicate ones taste in art, clothes, cars etc...

In the future, a girl will be impressed by what NFTs you own and your taste - TRUST ME LADS.

All jokes aside, NFTs send a message to others; from what communities you believe in, what artwork you like whether its PFPs, photography, art or something else. 

Think of it as a hat 2 different people own.

Person A owns Chicago Bulls hat.
Person B owns a Detroit Pistons hat.

Person A & B pass each other on the street... ⬇️ 

...instantly, without a word being spoken it expresses each persons passions, perhaps where they grew up, what sport they support etc.. 

This is how NFTs will revolutionise and develop communication on a digital scale.

Thanks for reading 📖 

Have a great day.

#NFTCommunity #NFT

NFTs Developing Communication

Are you into art NFTs? 🖼 ✍️

Then you need to check out this badass artist 
@EfdotStudio 👁 ⌇🌿

#NFTArt #NFTs #NFTCommunity

Eric Friedensohn (Ef) is a visual artist based in the big apple (NYC). 

After finishing design school, Ef started the Optimist Project after facing a tragic fire resulting in him losing everything he owned. 

His focus was/is to create art, which brings society together for the long term.

Focusing on the artwork and the community is brilliant, and that is what I believe will create a long lasting and successful artist/project.

Ef has worked with the likes of @nike @apple @Google @CocaCola @adidas and many more. 

His art and murals are inspiring. 

Efdot has an abstract meets figurative style for his vivid compositions. 

Please see some of his incredible art below ⬇️ 

This collection is called "Open Minds" & is on OpenSea currently for a FP of 6 ETH.

https://opensea.io/collection/efdot-openminds

Efs art is colour and intentional. 

It's so easy to gaze at his masterpieces for hours on end, looking at every last detail.

Ef has recently launched a collection called "Hidden Parks" & it's beautiful and flows effortlessly.

Whoever picked up all 3 Hidden Parks on @niftygateway will be able to claim a signed skate deck, with his artwork on.

If you're a skater you'll definitely want one of these! 🛹 

If you enjoyed this thread please show @EfdotStudio and his art some love.

Ef is very creative, purposeful and intentional with his art, creating work that flows seamlessly and conveys a message.

#NFTArt #NFTCommunity #NFTs

Efdot; A Badass Artist 👁 ⌇🌿

/Do you like women? Yeah me too...

Let's look at @WFVnft 🧵 
#NFTCommunity #NFT

Initially inspired by the World of Women NFT, @WFVnft wanted to build upon this and really push women in the NFT space further, by creating a movement.

@WFVnft thrive upon being community driven.

Safety is paramount for WFV and they want to ensure the voices in the community are heard and therefore actioned.

/Vision

Their vision is to give back to the community, support artists, and collaborate within the NFT ecosystem.

/IP

IP is a big factor in the NFT space and WFV understand this.

Therefore, they have given the community full ownership over their NFT they own to all the IP rights.

WFV pushes that the holders use their NFT IP right's to innovate and share the WFV movement.

/Roadmap

@WFVnft really puts the community and giving back at the forefront of their ideas in their roadmap.

Please see below some of their plans in the roadmap ⬇️ 

- giving 5 holders a one of a kind WFV toy for every 1k primary sales.

- 1.5% of primary sales donated to Eve's Place, Free The Girls & Acres of Hope.

- 5% of primary sales added to vault & a percentage of secondary sales profit to support artists in the NFT space.

- WFV will collaborate with artists to create 1/1 pieces, which will be raffled to holders.

Their roadmap is caring, not just for the NFT community but for others.

Multiple donations being made at different stages of the roadmap to various charities, shows they have taken a responsibility to make a change in the world by bridging web3 with web2 & this is empowering. 

/Team

The founder @CryptoStorm__ has a big presence in the NFT community & created the project to make a positive difference in the world.

The team has been built out and treated like it's a company which I believe is great.

The team:
- multiple artists @ethmadmax @javonangela1 @mz09art
- a social media/community manager @DonCryptowut 
- a lead mod - Aubrey Lewis

- a discord manager @nft_giovanni 
- developer @NFToby
- space host/social media manager @naravv__ 
- project manager @holisticeth 
- creative director @KaliCrypto_

To me completing dissecting the roles between multiple people makes a huge difference.

Meaning 1 person isn't overstretched and therefore each person can give maximum effort to their designated role, which makes the operation behind the project flow better/more efficiently.
#NFT

Women from Venus

/Are you a car enthusiast?

Take a look at this blue chip NFT collection 🏎 

@GarageXYZ 
#NFT #NFTCommunity

Garage has set up a DAO so the project is community owned. 

Their aim is to reconnect their members with their automotive heroes.

Currently their Genesis Collection is only 500 items with a floor price of 0.275 ETH.

The collection has 382/500 owners which is a high percentage (76.4%) of ownership, which shows great signs. 

/Art

The art is super clean, and the vehicles really stand out on the backdrops that are utilised.

The photographs have been captured by automotive photographer Ian Wood. 

These are just a few from the collection ⬇️ 

/Membership & Utility

Garage prides itself on being for the community & being a "democratic" web 3 community.

Membership in Garage is recorded via the blockchain & represented through ownership of a membership token.

The utility @GarageXYZ offers is unparalleled in that it offers pit-side experience for holders which regular fans simply can't experience 🏎 

/Team

They have a great team behind the project, who are all completely car enthused. 

Their founder @akline_SF has been involved with @stripe and is currently a partner @thegp 

With the projects art being created and photographed by the talented @eanofoto 

They have a very respectable COO in the name of Peter Miller who is a founder of Run Patent Group & has graduated from Stanford University with a bachelors/masters. 

They've also made great partners with @scottdixon9 and considering he just set the historic record at the Indy 500 I'd say his racing experience/contacts are a massive help.

Another huge partner @GarageXYZ have got behind them is @SJohanssonF1 who has driven for both Ferrari & McLaren 🏎 

/What's next for @GarageXYZ 

The timeline for the project looks promising for holders. 

They have an "iconic collection" launching in Q3 2022 consisting of 10k Membership tokens. 

In the later part of the year they've got an F1 partnership event & the launch of their DAO 🏎 

Altogether I think @GarageXYZ has great potential & is a first of its kind.

If the team continue to make partnerships & provide holders with access to great events & reward them as well as delivering great art I don't see how this project doesn't do great things.

#NFT 🏎 

GarageXYZ - a car enthusiasts dream.

/The Difference Between On-Chain & Off-Chain⛓ 🧵 

#Crypto #Blockchain #Web3

/On Chain

On Chain transactions refer to crypto transactions that are recorded & verified on the blockchain.

On-chain transactions are considered valid when the blockchain has been updated & reflects the transactions on the public ledger.

On-chain transactions offer transparency/security since they can't be modified once they've been verified/recorded on the network.

/On-Chain Transactions Time

In thesis on-chain transactions are meant to occur in real-time for blockchain security, verifiability, transparency etc.. 

However, this is not the case the majority of the time. On-chain transactions can take a long time to become verified & confirm the transaction. 

High transaction volume/congestion on the network can cause delayed validations by miners. 

If this is the case then the participant must wait for a settlement.

There is also an option in some instances to pay an extra/added transaction fee to speed along the transaction.

/The Cost

Miners require a fee for their offering of computational power to validate/authenticate a transaction, and these fees can be very high.

Fees can differ depending upon congestion on the network.

/On-Chain Advantages

- Offers security, as miners are needed to validate/authenticate a transaction. 

- Transparency; all transactions are public.

/Off-Chain

Off-chain transactions refer to transactions that occur outside of the blockchain.

Off-chain transactions can be a transfer agreement between parties.

Another example is two parties exchanging their private keys involving a specific amount of crypto coins. 

In this instance, coins never leave the wallet, but the crypto has a new owner off-chain.

/Advantages

- Can be performed instantly.

- Usually don't incur a transaction fee, as nothing occurs on blockchain; no miners involved to be rewarded.

- Offers a different sense of security compared to on-chain as the parties involved are not publicly broadcasted.

/Conclusion

It depends on your goal. 

If the importance is low transaction fees & speed then off-chain transactions are your best bet.

Whilst, if a validated transaction, security is important then on-chain transactions are better suited.

#Crypto #Blockchain #Web3

Differences Between On-chain & Off-chain

/Watch 2 Earn (W2E) $XCAD explained 🧵 

Launching Q2! 

#Watch2Earn #Crypto #NFTs

The thesis behind W2E is that a viewer will be rewarded for watching YouTube.

/XCAD network

Content creator tokenisation platform where you can earn/trade your favourite creators tokens.

Rewards are earned through watching tokenised creators.

/How it works

Through watching tokenised creators on YouTube with XCADs Plugin (coming soon) & earn the creators native token. 

XCADs plugin can be used as a chrome extension & a mobile app will be launching in Q3.

Fans will need to watch their favourite Youtubers video for 80% or more to be eligible for rewards.

Fans will need to buy $XCAD to purchase creator tokens, for example to buy KSI's token.

XCAD can be staked in the plugin to earn bigger rewards when watching creators videos.

Viewers will be able to monitor, track and analyse creator tokens via Influencer Market Cap. 

Viewers will have access to XCAD DEX to be able to swap, trade & sell creator tokens. 

An NFT marketplace is currently in dev as well - where viewers can buy creator NFTS.

/Benefits to creators

- Additional monetisation, whilst providing even more for viewers.

- Increased engagement; watch-time & loyalty.

- Monetising further; via own creator token unlocks/NFT moments & sale of creator based services.

/Benefits to fans

- Via governance the fans will be able to vote in the creators decisions.

- Via the XCAD plugin fans will be able to earn, stake, view & trade creator tokens.

/YouTubers supporting XCAD

- KSI 23.3m subscribers
- Mr.Beast 66.8m subscribers
- W2S 16.1m subscribers
- Ali-A 17.5m subscribers
- Niko Omilana 3.88m subscribers
- Lance Stewart 6.52m subscribers

With A LOT more creators being announced soon...

/Q3 2023 roadmap

- Mobile app for Plug-in.
- Creator dashboard
- Twitch integrated Plug-in
- Exchange Listings

/W2E vs M2E scalability

More people watch YouTube than do daily fitness, so in theory W2E has the opportunity to be bigger than the M2E movement.

YouTubers having millions of subscribers to display the movement - scalability is endless to be one of biggest dApps in the space. 

Takeaways:

- W2E has huge potential/opportunity for scalability.

- Fans earn rewards through 80%+ watchtime.

- Increased engagement for creators.

- More incentives for fans.

- NFT Marketplace to be launched

- Fans can swap, trade & sell creator tokens.

You can read the unrolled version of this thread here: https://typefully.com/WILLDCRYPTO/mApnAPV

XCAD Network & the Watch 2 Earn Revolution

/Is $SOL summer inbound?

What you need to know about #SolanaNFTs 🧵 

/Attraction to $SOL NFTs.

Collectors are attracted to $SOL for a few reasons:

- EXTREMELY low transaction fees ⛽️ 
- Fast transaction speed 🏃‍♂️💨 
- Ability for development 

/Growth

NFTs on Solana have gained a lot of traction, especially recently.

⬇️ shows $SOL has weathered the crypto crash/bear market better vs $ETH.

s/o @richardchen39 for the charts 🙏 

/So why has $SOL performed better than $ETH?

It comes down to a few reasons IMO:
1. Low transaction fees;

A lot of collectors have become liquidated in their crypto positions & have less capital to invest.

⬇️ 

Collectors investments need to be maximised with smaller capital. 

Ensuring maximisation, collectors switched to $SOL. (for now)

Transaction fees on $SOL as opposed to $ETH are notably different. 

With the avg.transaction fee on $SOL = $0.00025 & with $ETH it can cost $100's.

This means the barrier to entry with $SOL is far less as collectors won't be concerned about having reserved funds for gas fees - when buying & selling.

2. Solana gaining credibility 

Even though it's still early, Solana NFTs are making strides in the NFT space.

The artwork is improving, the communities are building & the opportunities the $SOL blockchain offers are endless. 

3. Something new

Getting into Solana NFTs for the 1st time, in a sense is like starting your NFT journey again. 

- create new wallet
- learning which projects performed best
- communities to join 
- history of projects 

etc.. this is all exciting & has reeled collectors in 🎣 

/Solana NFTs on Magic Eden vs Opensea

Solana NFTs have only recently been adopted by Opensea, but let's compare fees, volume, revenue, listings anyway.

Source https://solanafloor.com/markets

1. Volume 

30 day volume ATH:
Magic Eden ~ 304,389
OpenSea ~ 29,084

2. Fees

Magic Eden charges 2% fees as opposed to OpenSeas 2.5%.

3. Revenue

Past 30 days:

Magic Eden ~ 93,335 $SOL ($4,741,467)

OpenSea ~ 5,912 $SOL ($300,342)

4. Listings

Magic Eden ~ 1,729,016

OpenSea ~ 107,276

The comparisons show that Magic Eden is clearly the marketplace to trade on at the moment if you want to get into Solana NFTs.

The lower fees & higher listings/activity surrounding $SOL NFTs is encouraging for new collectors.

/Security

Security is a concern of the sol blockchain, & most recently Solana has suffered a 7 hour outage, with a 17hr outage in September '21.

Minting bots invaded the network; with 4m+ transactions a second - which knocked validators out of consensus & caused network crash.

Even though it's making strides to improve its security & downtime liability, $SOL have still got a long way to go to compete with $ETH.

Takeaways:
- Gas fees are low
- Fast transactions
- Magic Eden main marketplace
- SOL is growing 
- Security problems 

If you found the thread informative & helpful please drop a RT & a like 🙏 

#Solana #NFTs #Crypto

If you'd like to read more on Solana, try reading my thread below ⬇️ https://twitter.com/WILLDCRYPTO/status/1521539468850724864?s=20&t=nVNC9Qx-iYqALSysHTVSRg

Solana NFTs - What You Need To Know

Game theory is a theoretical framework based upon interactive decision-making. 

Where the outcome for each "player" depends on the actions of all.

When choosing your strategy you must take into consideration the action/choices of others.  

Game theory has 3 core elements:

PLAYERS: the strategic actors within a game.

STRATEGY: a plan of action or "strategy" a player will take given circumstances that could arise.

PAYOFF: result a player receives after achieving a certain state. 

The use of game theory can be applied to real-world scenarios for pricing competition and product releases etc... 

The focus of game theory is the GAME. 

It serves as an interactive model between rational players. 

The key to game theory is that one player's success is dependent upon the strategy implemented by another player.

/Examples of game theory using Prisoner's Dilemma. 

Prisoner's dilemma is the most well-known example of game theory. 

Consider the example that 2 criminals have been arrested for committing a crime. 

Prosecutors have no evidence to convict them, so they try to gain a confession by splitting the 2 prisoners into separate cells.

So, they aren't able to communicate to each other.

The prosecutors offer 4 deals:

1.  If both confess, they will each receive a five-year prison sentence.

2.  If Prisoner 1 confesses, but Prisoner 2 does not, Prisoner 1 will get three years and Prisoner 2 will get nine years.

3.  If Prisoner 2 confesses, but Prisoner 1 does not, Prisoner 1 will get 10 years, and Prisoner 2 will get two years.

4.  If neither confesses, each will serve two years in prison.


The best option is to not confess.

However, each "player" doesn't know, isn't aware of the other's strategy and is uncertain they'll take option 4. 

Most likely case is they'll both confess & both receive 5 year sentencing.

The Nash equilibrium suggests in a prisoner's dilemma the prisoners will do what's best for them individually, not collectively.


/Limitations of Game Theory

Like other economic models it relies heavily on assumptions that "players" act rationally.

Game theory may fall into a nash equilibrium; an outcome reached that once achieve, means no player can increase payoff by changing decisions unilaterally.  

/Combining crypto-economics with game theory

Game theory understanding of rational nodes interacting within a network enhances sustainability and security of distributed p2p systems. 

Blockchains are a distributed synchronised network containing blocks.

So, miners must reach a consensus upon which block to validate.

Consensus mechanisms such as PoW rely upon game theory to maintain trust-less co-operation. 

Game theory expresses that rational actors are motivated to act honestly to risk losing their investment. 

More info on PoW below ⬇️ https://twitter.com/WILLDCRYPTO/status/1518868482158256128?s=20&t=Pl4wMQMSoL0iRbOvR7Xmpg

Takeaways:

- based upon interactive decision-making. 
- 3 core elements; player, strategy, payoff.
- can be applied to multiple real-world scenarios.
- blockchain tech relies upon game theory.
- limited by not all players acting rationally.

Game Theory

/What are nodes?

#Crypto #Blockchain #Web3 

Blockchains consist of numerous blocks of data.

This data is stored on nodes, which can be compared to small servers. 

Nodes are the framework of a blockchain.

Nodes store, spread and preserve blockchain data. 

On a blockchain all nodes are connected to each other and they continuously exchange the newest info on the blockchain with each other.

Ensuring all nodes are promptly updated.

Now, nodes can be any kind of device; computers, laptops or servers. 

/Functions of nodes

- nodes broadcast info of the block to all nodes across the network when a miner adds a new block of transactions to the blockchain.

- nodes accept or decline the block dependent upon validity of signature and transactions.

- nodes save and store new blocks accepted on top of the other blocks already stored.

/Different types of nodes

1. Full nodes

- support & provide security to the network.
- maintain the consensus between other nodes/ensure verification of data and store a copy on the blockchain.

2. Lightweight nodes

- establish connections/links between users outside blockchain.
- users in network, who need to connect to a full node to be able to synchronise with the current version of the network to be able to participate.


3. Miner's nodes

- These apply to cryptos such as $BTC as they operate on a PoW consensus; once nodes validate a transaction, its presented in a pending form until a specialised node known as a miner(s) picks up the transactions.

4. Listening nodes

- Also referred to as supernodes are publicly visible & accessible full nodes. 
- Function as communication bridges by providing blockchain data to other nodes.

/Nodes for passive income

Nodes have become increasingly popular as a source of passive income. 

Nodes can create a great source of passive income.

However, even though they are high reward, they're also high risk.

2 projects for nodes passive income

1. Strong Block

Current $STRONG price - $9.79 (taken a big hit due to current market climate; ATH of ~ $3.1k)

Amount to create a node: 10 $STRONG

Daily reward: 0.093 $STRONG
https://strongblock.com/index.html

⬆️ This could potentially be a great investment as the entry cost is low & price is bound to increase again.

2. Vapor Nodes

Current $VPND price - $0.003197

Amount to create a node: 15k $VPND

Daily reward: 1% ROI

https://vapornodes.finance/

Takeaways:

- nodes store, save & preserve blockchain data.
- nodes broadcast data across the network.
- nodes can be used for passive income.

What are nodes?

Let's talk about Grimbogs by @BedbugsNFT 

#NFTs #Crypto 

"bedbugs" is an organisation which is building grimbogs into the society. 

With the aim to bring them into the public eye in a positive light.

There will be 10,000 membership NFTs.

/Team 

Julian Armstrong aka @EuphoricSupply - Bedbugs Artist

Work spans from illustrations, figurative characters, designing shoes, toys, sculptures & more.

He has even collaborated w/ Drake, Playboi Carti, A$ap Rocky, Sprite etc.

Check insta to see his work also.

@PlaidShaman - founder & ui/ux + web dev 
https://www.plaidshaman.design 

@backseats_eth - engineering lead 
solidity dev, co-founder of noun cats, co-creator of contractreader.io 

@tobylasso - director of marketing
Weather Report, Letters and manager to creators.

On May 10th @BedbugsNFT shared on Twitter their first grimbog pfp.

Show some love below ⬇️ https://twitter.com/BedbugsNFT/status/1524087471063060482?s=20&t=Mh0Ip5E72RitoC7Bnre7ZA

The artwork the team is creating so far is enthusiastic & inventive.

Their Twitter page really expresses the fact that they're focusing on the story behind Grimbogs & the artwork. 

Take a look at the 2nd Grimbog sighting 📍https://twitter.com/BedbugsNFT/status/1521902680842686464?s=20&t=Mh0Ip5E72RitoC7Bnre7ZA

Personally, I think this could be a project to look out for, art is clean and colourful, with artistic doodle design. 

The team behind the project is STACKED & they're active on Twitter, whilst building a story behind the project. 

#NFTs #Crypto 