Newsletter #141: A New Trend
Equity Distribution to NFT Holders
This week’s featured collector is MrMocha
MrMocha is an artist from Montreal, Canada. He creates simple eye catching NFTs. View the full collection at lazy.com/mrmocha
The results of last week’s poll: What will be the driving factor for NFT adoption in 2024?
The results of last week’s poll indicate that the primary driver of NFT adoption in 2024 is predicted to be the increased involvement of mainstream brands, reflecting a belief that familiar entities will validate and integrate NFTs into wider consumer experiences. Technical improvements in blockchain are also seen as significant, suggesting that advancements could lower barriers to entry. Diversification beyond art-related NFTs and the potential for social media platforms to facilitate NFT transactions are other notable factors, although less prevalent in the poll. A strong 13% of respondents think it will be something else than the options given.
NFT Projects Pioneer Free Equity Distribution to Holders
NFT projects have recently started a trend of granting company equity to their holders, a move that has stirred both excitement and skepticism in the community. Pons Asinorum, the founder of the NFT collection "The Plague," made an announcement on December 25th that holders of their NFTs would receive a portion of company shares, determined by the number of unlisted NFTs they possess. This move was claimed to be legal, as the shares were given as a gift without any prior expectation or additional conditions for the NFT holders. Pons claimed to have consulted legal advice to confirm the legality of this unconventional approach.
Similarly, on January 1st, Rektguy co-founder Ovie Faruq announced that holders of Rektguy NFTs would be given equity in Rekt Brands Inc. Faruq emphasized that this gesture was a token of appreciation for the community's support and assured its legal compliance. Notably, the transfer of these NFTs will not include the transfer of the associated equity.
These developments have generated significant discussion within the NFT community. Some view these moves as groundbreaking, potentially changing how NFTs interact with traditional notions of company ownership and investment. Others remain skeptical, questioning the legal and regulatory implications of such actions.
Will other NFT projects adopt similar equity-gifting strategies? Or will the uncertain legal aspects and long-term implications of such moves prevent widespread adoption?
Former Premier Suggests NFT Inauguration Token for Taiwan's New President
In a novel proposition, former Premier Sean Chen has suggested that Taiwan should embrace digital innovation by issuing an NFT to commemorate the inauguration of its new president in May. Breaking away from the traditional minting of coins, this move could position Taiwan as the first country to celebrate such an event with an NFT. With the presidential election scheduled for January 13, candidates from the Democratic Progressive Party, Kuomintang, and Taiwan People’s Party are vying for office, with the swearing-in set for May 20. Chen envisions this eco-friendly NFT not just as a gift to the new leader but also as a historic achievement for both the president and the governor of the central bank, signaling Taiwan's pioneering step into the intersection of governance and blockchain technology.
This week’s poll: Do you believe gifting company equity to NFT holders will become a common practice among NFT projects?
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