Xie: On-chain provenance creates digital status symbols for early NFT adopters
Linda Xie · a16z Podcast with Linda Xie and Jesse Walden - All About NFTS (Capital Allocators, EP.189) · Apr 15, 2021 · at 25:02
Scalar Capital co-founder Linda Xie explains why on-chain ownership history and early adoption of NFTs carry social and economic value.
0:00 / 0:24exact quote · 24.2s
720p mp4 · rendered on demand · StarZero watermark
“And the fact that somebody had owned this so early on, it's almost become the status symbol where people want to demonstrate that they can prove their ownership Really early on in this space. And so that ownership history also really matters. Being able to discover an artist or creator really early on and being like one of the first supporters and having that tracked on the blockchain. Future times when that is sold, you can prove that you were this early adopter and that is very valuable to people.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Linda Xie
Xie: Players in the Philippines earn living wages playing blockchain games
“There's a DAO called Yield Guild Games that I've been participating and active in, and there have been people in the Philippines who have been earning a living wage playing.”
Xie: Representing tickets and real estate as NFTs creates efficiency benefits
“And if we even talk about the more traditional stuff like NFTs representing tickets or financial assets or real estate, these are just more efficient ways of transferring and without having as many paperwork and middlemen involved. And so this is a net benefit…”
Xie: Blockchain energy criticism will fade as networks adopt layer-2 scaling
“And then increasingly, we're also having more movement towards layer two, like protocols built on top of Ethereum, because people do want to be less energy intensive when it comes to verifying
Ownership on a blockchain.
So there's going to be less of that narr…”
Xie: Permissionless NFT composability contrasts sharply with traditional closed intermediary systems
“It's really powerful when you can plug these NFTs into all these different crypto protocols, because in a traditional system, these middlemen aren't plugging themselves into all these other companies and middlemen. You can kind of freely do whatever you want w…”
Xie: Fungible social tokens are not NFTs unless items are unique
“I don't necessarily think that social tokens themselves are NFTs because sometimes people are creating these tokens that they've minted like a million of them. But if the creator of this group is issuing individual badges or unique items within that, then that…”