Article: Money Reimagined: NFTs Can Help Create a New Internet

Crypto, Decentralized Internet, Digital Content, Web 3.0

Money Reimagined: NFTs Can Help Create a New Internet

In establishing digital scarcity via one-of-a-kind tokens, and in holding out the promise of peer-to-peer digital media exchanges, NFTs hint at new approaches for media companies and brands to engage directly with their audiences without the intermediation of the platforms.

NFTs pose their own ownership issues. Many buyers are discovering they don’t really own the art or content to which they are attached.

And, as Khloe Kardashian’s bikini photo saga shows, it’s very hard to stop the replication of content, especially when it’s going viral. NFTs can’t physically stop or control the copying of digital content.

However, we can establish standards assuring that special rights to NFT-associated content are not controlled by a separate custodial platform but are assigned to the token owner and  cryptographically bundled with the token itself so they can be easily transferred to the buyer with each downstream sale.

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Article: BitClout creates the first ‘social media stock market’

Blockchain, Crypto, Media

BitClout creates the first ‘social media stock market’

The white paper describes the BitClout concept as an “emerging phenomena”; indeed, the website compares Bitcoin’s recent impact of “decentralising money” with its own efforts to “decentralis[e] social.”

“[W]ith BitClout you can buy someone’s coin and then retweet them, which makes it so that you’re not only along for the ride financially if they blow up, but you also get bragging rights.

The future of investment could conceivably include some form of ‘social media stock market’ – a concept that could one day include everyone, not just the rich and famous. The socio-economic implications of doing so, however, would need to be carefully considered.

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