Welcome to Day 3 of The Animal Farm is paused and let’s look at DRIP roadmap! I’ll speak somewhat briefly about NFT’s. And, at the end, share some speculative thoughts on the future of DRIP.
I don’t know TOO much about this one, but I do know that DRIP Developer Forex Shark has mentioned before in some of his YouTube AMA’s. I’ll just share what I know and cite some examples of other celebrity NFT’s and how they might work.
Forex mentioned that there was a big DRIP investor that happened to be a licensing agent for A-List Celebrities. These celebrities and sports stars were wanting to mint NFTs and this promoter was going to help them do it, and have it DRIP-based.
Just kidding! Let’s now look at NFT’s in general and how they could work. This will become important for another catalyst with the LootNFT.io NFT’s, but that will be for another article.
There are several apps that you could create an NFT. Obviously, you could just create art and then convert it to an NFT and try to sell it. But, you would be in competition with some really good designers. It still boggles my mind how some NFTs can go for hundreds of thousands of dollars. When NFT’s first came on the scene, I actually tried to mint an NFT just to see how it would work.
Long story — short, I was NOT successful! LOL. I was discouraged by the high gas fee. Here, let me show you what happened real quick (have a laugh) and then we’ll talk about NFT’s as a “use case.”
I designed this little guy on Canva. Then took it to OpenSea.io. I was about to upload it but it was saying, at the time, that the ETH gas fee to mint this cute lil guy was $26 USD!!! What the …?! F that!
I suppose if one were driven enough, that they COULD be successful, but I just did not know enough about it.
Here are some possible functions that DRIP could enable in their celebrity NFTs:
- Create and sell NFT’s as part of a large and scarce collection. The rarity is is what gives it value.
- Tickets to sport events or concerts could be…