NFT

Discussing the three future trends of NFT: free minting, unrestricted CC0 licensing, and integration with e-commerce.

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Discussing the three future trends of NFT: free minting, unrestricted CC0 licensing, and integration with e-commerce.

As more and more people join the ranks of NFT collectors, paying attention to details such as project roadmaps, minting prices, copyrights, etc., has become increasingly important when purchasing NFTs. Since the explosion of the NFT market in the second half of last year, a variety of different projects have provided opportunities for people to learn and reflect. Today, Reddit advisor Greg Isenberg has put forward his views on the future trends of NFT projects from three perspectives.

Table of Contents

The Future Trends of NFTs

Greg Isenberg has proposed three possible directions for the development of NFTs, and this article will discuss them based on his viewpoints.

1. Free-to-Mint Becomes Mainstream

Current NFT projects often set an issuance price based on their roadmap and assigned features. If investors believe the issuance price aligns with its value or has investment potential, it can attract buying interest. However, due to the vague standard of issuance prices and the speculative nature of the market, most projects lose market attention and community activity after the peak period in the first few weeks of the sale.

Greg Isenberg believes that in the future, "free minting" will be the mainstream method of issuing NFTs, replacing the expensive minting fees of the past. Issuing in this way is considered the best approach to guide and develop communities. By providing incentives or benefits upfront, the community will naturally bring in revenue for you.

Take, for example, the championship necklace NFT issued by the North American esports club 100 Thieves, which was released through free minting, attracting 700,000 fans to mint for ownership. By distributing similar giveaways, it cultivates a community centered around fans.

In the future, projects that require payment of expensive minting fees during issuance will no longer be popular, and instead, adjustments in incentive measures will be made to eliminate the culture of raising funds.

2. Breaking Authorization Restrictions, CC0 Will Become Mainstream

Before introducing CC0, it is necessary to understand what CCL stands for. CCL stands for Creative Commons license, commonly known as CC licensing in Chinese, which is a type of public copyright license. Authors can use this license to grant others the rights to share, use, and even create derivative works.

According to Wikipedia, the licensing terms have four basic conditions:

  • Attribution, by: Users can copy, distribute, display, perform, broadcast, or transmit this work, but must attribute the work as specified by the author or licensor.
  • Noncommercial, nc: Users can freely copy, distribute, display, and perform this work, but may not use it for commercial purposes.
  • No Derivative Works, nd: Users can freely copy, distribute, display, and perform this work, but may not change, transform, or modify it.
  • ShareAlike, sa: Users can freely copy, distribute, display, and perform this work; if users change, transform, or modify this work, they can only distribute derivative works generated from this work under the same licensing terms as this work.

Below are seven combinations of common licensing terms, with the first being CC0, which is the most open condition. If an NFT project is licensed under CC0, the NFT holder can create any derivative works, use them for commercial purposes, and do so without authorization.

Greg Isenberg believes that the adoption of CC0 is the fastest way to spread memes, and removing barriers to sharing memes online will lead to good things happening.

For example, in the world of web3, the recently popular mfers are everywhere, such as Ape mfers, punk mfers, and invisible mfers. Thanks to the popularity of various memes within the community, they achieved a trading volume of over $77 million in just a few months.

mfers

3. E-Commerce and NFTs: A Match Made in Heaven

A popular NFT can bring real-world experiences, products, and services to its holders, opening up new dimensions for commercial applications.

Take the collaboration between Doodles and Shopify, for example. During this year's SXSW Art Festival, both parties showcased a great combination of e-commerce and digital assets. Doodles holders could unlock various interactive experiences and exclusive gifts by scanning their badges, bringing many possibilities for the future of e-commerce.

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