Mignano: Social capital NFTs like profile pictures lack long-term value
Mike Mignano · Michael Mignano: How I Founded Anchor; Why TikTok could be a $2 TRILLION Company | 20VC #923 · 20VC with Harry Stebbings · Sep 7, 2022 · at 52:43
Lightspeed Partner Michael Mignano contrasts status-driven NFTs (like Bored Apes) with creator economy tools that enable digital artists to monetize their work.
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“So I actually, the reason I like OpenSea and NFTs is not because of what you just said. I am not long-term bullish on the social capital aspect of the NFTs. I'm more bullish on sort of the creator based use case of it.”
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