Projecting the Effects of Tweet NFTs on Crypto Ecosystem

Jack Dorsey, the CEO of Twitter, initiated an auction for the first tweet in the history of the platform. Even though the initial bid was below $100k, it's offered $2.5M by someone named sinaEstiva.

Here you can see the auction just setting up my twttr

I believe it's worth mentioning because it may directly or indirectly have impact on crypto ecosystem through mass-adoption and, more specifically, it may raise awareness on monetizing content through blogging and micro blogging.

Let me foreshadow:

Initial Stage, everyone wants to sell their tweets in NFT form.

However, can everyone successfully sell their tweets as Jack did? It does not sound likely to happen.

While some people can sell some tweets for cryptocurrency (it can be just $1 or some nice amount of money), it will push people to find better ways to make gains. Imagine that on the 5th of March your tweet did not have any value while on the 15th of March you can sell the NFT form for $100... The tweets are likely to be more "neatly" designed for commercial purposes. At that point, we should start a sentence with YET.

Yet, while tweeting, people want to be free and express themselves without any preoccupation. So, although monetization sounds cool, 2 major problems are likely to occur:

Problem 1: Tweeting may not be as enjoyable as before due to psychological pressure or wish to monetize it.

Problem 2: Even though people cope with self concerns related to monetization, they may not find a buyer for their neatly designed tweets.

Fish can't fly, Rocks can't swim.

Just because people may make money thanks to an overhype situation, will it be satisfactory for Twitter users?

For me, the answer to the question is crystal clear. Twitter is for chit-chatting, expressing yourselves as if in small talk etc. The nature of Twitter is not %100 suitable for monetized content. Even now, we use "cc" bot to tip by using Hive or any other currency via plugins or bots. If people like the taste of monetization, YOU HAVE TO GIVE THEM WHAT THEY WANT!

I'm pretty sure that the other rivals of Twitter will also try to initiate similar concepts (maybe on some other Blockchains - which makes more sense 😅) but, in the end, all these things keep lacking sustainable use case and satisfactory monetization model.

Here comes the Sun...

If you are on a diet and you ate a bar of chocolate, can you stop yourself against the second one? If yes, can you resist eating on the other days? Human beings are not good at resisting alluring things 💁🏽‍♂️

At that point, the stage is for Hive, Leo, CTP, ProjectBlank, Sports and all other communities with satisfactory content monetization frame.

This is John, he successfully sold his 2 tweets for $5 but he could not sell his other tweets that he assumed to sell for 3 months. Now, he is searching for some other ways to monetize his content. While scrolling down on the timeline,he saw a post on LeoFinance.

What will John do?

Of course, he will explore Hive ecosystem to engage with people who are like minded while making nice crypto earnings by blogging and micro-blogging.

So, no need for an explanation. A censorship-resistant and blockchain based project will make a lot of sense to explore.

While John and John-like people are in search of better content monetization solutions, what are we supposed to do?

We should inform people about the facilities of Hive and our communities. The moment the new enthusiasts enter the ecosystem, they will find their own way for sure. Yet, we need to expose them; they need to find sources to reach Hive, Leo, CTP or any website to start learning.

Snowball started rolling from the top of the mountain.

I see this Non-Fungible Tweet concept as an one of the best opportunities that we have so far. Besides, though it's a tiny little move, the crypto (Ethereum blockchain) & existing social media platforms' connection is an important milestone. We can also open parentheses for the choice of Ethereum blockchain but this post is not about it (Hive could be the best choice!!!) No... I'm not going to talk about it (HIVE has NFTs, a showroom and zero-fee operations) and I'm quite determined.

Long Story Short

The narrative of NFT Tweets sounds cool but not sustainable. I'll choose some of my tweets and turn into NFT forms but I'm sure they will not be sold or sold for $1 at most. So, the narrative is not likely to be long-lasting.

As stakeholders of our digital assets and platforms, we need to make some more noise and raise awareness to welcome the new enthusiasts. We have several opportunities like Posh and cctip to attract the attention of people. Besides, the communities like MusicforLife, CTP, Neoxian, Sports and many others are great examples to be shown.

Sustainable Narrative, Perfect Blockchain and Strong Community... We have what we need, time to show up!

Posted Using LeoFinance ^Beta