You've heard of them. You've seen them. You can't escape them.
While the movement continues to grow, there are open questions around how to value them.
More importantly, which layers of the stack will capture that value, and which players are leading that charge today.
To showcase the power of web3, I'm excited to debut my first NFT - using a Mirror Crowdfund to allow backers to become collective owners of this future article in the form of $VALUE tokens.
What's To Know?
$VALUE tokens represent fractional ownership of my future blog post - NFT Value Capture
Key details of $VALUE:
- Contract Address: 0xec7b4c86659Fe529C1DBc79df0aaeEAf1c642006
- Target: 1 ETH
- Hard Cap: 2 ETH
- Max Contribution: 0.25 ETH
- Exchange Rate: 1 ETH = 1000 VALUE
Pledging ETH returns fractional ownership in the form of $VALUE tokens. These tokens can be redeemed for a pro-rata portion of future sales.
13.37% of the ETH raised in this crowdfund will be donated to MintFund - helping creators launch their first NFT by covering gas and operational costs.
I will retain 25% of VALUE as the author, and will distribute a portion of my tokens to contributors, the Friends with Benefits DAO and other communities of my choosing.
Backers will share the remaining 75% of $VALUE.
All secondary sales will have a 10% creator share. This means every time the zNFT trades on the secondary market, 10% will flow back to contract and can be redeemed by $VALUE holders.
The goal of $VALUE is to crowdfund in order to allocate significant time and energy into researching and writing the article, while leaving ample room for the $VALUE zNFT to (hopefully) sell for more on the primary market than what was crowdfunded at inception.
What To Expect
This post will be published within a month and serve as a resource for investors, collectors and creators to think about how to allocate capital to the NFT ecosystem, and what I expect to perform best over the next 3-5 years.
It will be published to the draft attached below, and be updated with the full article at the time of public release.
When it is publicly released, the $VALUE zNFT will be listed on Zora and start accepting bids. I will choose the winning bid (in WETH) 48 hours after its release, and $VALUE owners will be able to redeem tokens for a pro-rata portion of that WETH.
Why Back This Post?
This post is the first experiment around my evolving web3 strategy. My strengths lie in storytelling, education and community. I want to use this post to show other writers that written content has value, and that NFTs are a way to capture it.
If successful, I plan to use this strategy for future releases, with the potential for tokenholders to receive exclusive access to communities I'm a part of like Friends With Benefits.
For more background on myself, check out my Twitter or ask someone about my work. I'm hopeful that their response will speak for itself.
Special thanks to Variant for incubating this idea, the Mirror team for the support and all the backers for believing in me and my work.
$VALUE coming SoonTM.