NFT synthetics economics - Primer
NFT Synthetics is a stimulating force to bring NFTs out of homeostasis. Learn more about NFT Synthetics in our initial post below.
Vectors making up NFT Synthetics
The stimulating force are the three vectors:
Engagement is about adding utility to the NFTs. For instance, getting access to clubs, using NFTs as identities, and getting loans on some primary examples.
Check out other types of engagement we’ve shared on twitter:
Experiences are journeys unique to the holders of NFTs — metaverse, multi-player portals, and being in infinite games.
Economics is the multiplier effect for Synthetics. Synthetics are more than fun; they add economic value to the underlying NFT in several ways:
Buy / sell the full NFT synthetic experiences in marketplaces
Implement burn tokenomics to create and run Synthetics which in return creates scarcity
Lease custom Synthetics to other NFTs holders for one-off experiences
Just imagine an NFT as a piece of land — what can you do with it to make money?
build a home and sell / lease
put up a billboard for advertisement
grow timber and harvest to sell
build an amusement park
Synthetics are higher orders
NFT synthetics are analogous to all these "higher order" ideas to make money with the land.
Synthetics are like derivatives on NFT that have intrinsic economic value.
Presently speaking, it is not easy to build and launch Synthetics — this is what we are solving at Multiversal Ventures.
We will be digging deeper with specific examples of Synthetic economics. If you like what you have read so far, follow us or share this post. This is only the tip of the iceberg. There’s a lot to explore so strap on your seat beats, this is one ride we guarantee you don’t want to miss out on.
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