Piggybacking on the article I wrote a couple of days ago about perhaps being wrong about the NFT craze, a big factor in keeping it going appears to be the NFTs that are randomly generated.
As mentioned before, because of my fasciation with RPGs, particularly complex ones I find this trend interesting as well. Because of random generation, users do not know what they will receive. I believe this is why games like Pokemon, Diablo, Dragon Quest and various other loot or monster-based games keep players coming back.
While the gameplay can get stale, if there is nuance and novelty at every turn then players will continue to play for hours. This may be why the NFT boom shows no signs of slowing down.
As anyone can generate various art NFTs with programs, the outcomes can be something that no one ever though of. Subjective preference takes over as users pick their favorites and could become attached to them. Since no two people have the exact same preference, one could procure multiple generated NFTs, keep the one(s) they like and flip the others to another buyer.
This could lead to an infinite speculative market that feeds on itself constantly, as the only bounds at that point are human creativity - which I believe are non-existent.
Of course, these have taken off on Ethereum and other blockchains where thousands, sometimes millions are spent on these. CryptoPunks being the iconic example for now, which culminated in Visa getting FOMO and going in on one.
Naturally as a perpetual BSV shill, I believe this activity will end up there because of the ability to scale. And now we are seeing it.
The team behind MetaID and ShowPay have released MetaBot - The First Functionalized NFT on BSV.
This market went wild (well as wild as possible w/ BSV’s paltry user base) yesterday, selling 200 NFTs out in 10 minutes.
300 more go on sale today, around the time this post will go live. This NFT looks a bit more interesting than the tired JPEG, as they can potentially be combined into an ‘Ultimate MetaBot’. More details here.
I love the creativity and innovation here, as well as the opportunity for BSV holders to finally make some money. Some have already resold for 1-7 coins from an initial price of 0.38 BSV.
While the MetaBots do not currently have more utility, there could be as laid out in the above Medium post. It is easy to punt on a concept like this but given the infrastructure this team has already built I can see how they could make these into avatars and really establish a community around the MetaBots.
Again - I believe we are at the stage of monkeys banging sticks on rocks in figuring all this stuff out. Which means that we are just getting started in seeing what is possible.