Everything you need to know about ūüüĘ NFTs

Why it matters

NFTs transform art, governance, gaming, finance, charity, communities, logistics, and more.


Authenticity and ownership were hard to prove...until now.


NFTs help you prove ownership of unique assets without intermediaries.




Tools & Platforms

  • Dune¬†- Blockchain analytics
  • Collab.Land¬†- Tools for communities and creators
  • Solid NFT¬†- Turn NFTs into physical art
  • Mirror¬†- Community-owned publishing
  • PartyBid¬†- Buy NFTs as a group
  • Fractional.art¬†- Buy, sell and mint fractional NFTs


  • NFTs will unlock online and in-person¬†experiences.
  • NFT owners will¬†force appreciation¬†via ownership.¬†Jay-Z,¬†Jason Derulo¬†and¬†Odell Beckam Jr.¬†own punks.¬†Steph Curry¬†and¬†Dez Bryant¬†own apes. Their ownership boosts the value of their items and everyone else's.
  • Physical versions¬†of NFTs will create embedding effects.¬†Buying prints¬†of your NFT makes it less likely that you'll sell the underlying asset.
  • NFTs will transform¬†charity. Donations are easier to make. Funds are easier to trace. Donors can receive NFTs representing their contributions.
  • Activity based income¬†will be used to deploy treasuries and direct efforts.
    • Each Noun in the¬†Nouns DAO¬†is a vote in the treasury.
    • Lazy Lion¬†holders get¬†Roar Rewards¬†for updating their profile picture and adding a crown emoji to their name.
  • Fractionalization¬†will make "blue chip" NFTs more accessible. Boosting liquidity and valuations. There are 6969¬†CrypToadz. Fractionalization will lead to millions (or even billions) of owners. See¬†Fractional¬†and¬†PartyBid.


  • Build¬†tools¬†to make, exchange and manage NFTs.¬†Dune,¬†Nansen,¬†Rarity¬†and¬†Icy¬†help you find buying opportunities.¬†Collab.Land¬†adds token-gated access to communities.¬†OpenSea¬†helps you mint and sell NFTs. There are still gaps in the market:
  • Launch an NFT¬†media company. See the¬†Forefront¬†newsletter,¬†Proof¬†podcast and¬†Finematics¬†YouTube channel. Learn while building distribution and optionality.
  • Launch an¬†NFT-gated¬†community.¬†Gen.art¬†grants membership with NFTs. This assumes that your audience are early adopters. Shared tokens create deep alignment.
  • Advise¬†NFT teams. There are¬†DAO politicians.¬†Where are the NFT advisors?¬†Our fast-moving space has lots of information problems.¬†Which smart contract should you use? What's your go-to-market strategy? Which pitfalls to avoid?
  • Look at successful NFT projects to build a¬†go-to-market¬†strategy.

Key lessons

  • Building an identity on an NFT creates¬†embedding effects. The switching costs of selling are high.
  • NFTs create¬†deep alignment¬†in communities.¬†PFP projects¬†align community members on identity, emotion and ownership.
  • Status symbols¬†are changing. Signalling is an old job. NFTs are new tools. JPEGs are better signals than rolexes.
  • NFTs are a form of¬†social investing. Owners can affect outcomes. As a Proctor & Gamble shareholder, you may buy the brands' toilet paper. This has little to no effect on the stock price. As an NFT owner, you can meme and build utility. Asymmetric efforts.


"I can just copy an NFT. Then I own it."
The more you copy an NFT. The more value accrues to the owner. You're spreading the meme.

"NFTs harm the environment."
Carbon-negative projects like CryptoTrunks address this. As well as Nori. As for Ethereum, proof of stake takes less energy than proof of work. Everything affects the environment, including the infrastructure that supports you reading these words.


  • Boom¬†- Stories from the contemporary art world.
  • On JPGs¬†- A thread addressing common tropes from haters.
  • NFTs and a Thousand True Fans¬†- Chris Dixon on how NFTs change creator economics.

Thanks to Hiten Shah (Nira), Max (Solid NFT), Linda Xie (Scalar Capital), Patrick Rivera (Mirror), Ethan Jones (Tools for MGMT), Ashwin (Trends.vc), Stewart Townsend (Channel as a Service), Yarty Kim, Rahul Prakash (Unlocking Blockchain), Lu (OS Bundle), Monika Birkner, Edward Mcenrue, Edward Rooster (The Big Stack) and Edward Danilyuk (dock90). We had a great time jamming on this report.

Access Trends Pro

To save 2,000+ hours of market research, access all Trends Pro Reports and join our Trends Pro Community.

Become a Trends Pro Member here.

Trending on Indie Hackers
Design & UI/UX takes me so long- am I doing everything wrong? 14 comments Looking for feedback on a note-taking tool focused on your personal interests. 7 comments My new self destructing notes app is on product hunt today. Would love some support. 6 comments Sources of funding for bootstrapped business 3 comments Email Marketing Tip 16 of 100 - Use alt text for email images 1 comment Just launched my startup idea website. 1 comment