Let’s talk about NFTs and the whole culture surrounding it. This is a conversation amongst us all so we can provide our honest perspective on it and get a clear and collective understanding of where things are at. And through this conversation, we could perhaps establish some ground rules that make NFT trading fair for everyone. Before I share my perspective, let’s go into the history of NFTs in this forum.
We began creating and selling NFTs as a way of protecting our content that was constantly getting stolen and shared. This is made possible through the scarcity of NFTs (Example: only 70 Major Blueprints of Power or so for sale) and through the confirmation of ownership when purchasing an NFT. In a way, NFTs make digital products into tangible products as you could also transfer ownership of an NFT to someone else. This essentially creates a free market system where NFTs can sold and traded.
And this is to everyone’s benefit. The ability to trade and sell NFTs you own grants you all much more freedom with the NFTs you purchase or trade for. These digital images/audios become things that you actually own.
The issue with NFTs early on was that when we would sell a certain NFT, it would be at a certain date and time… and sometimes, people from different parts of the world didn’t have good enough internet connection or time to have a chance to purchase one. They would sell out in 2 minutes and many people would feel they didn’t have a fair chance. So to give people a fair chance and even creative input, Cap’n came up with a brilliant idea to allow people to create NFT groups where they design NFT fields that only people from within that group could purchase.
This has worked well for the most part and we have gotten amazing fields all around from it. But it has certainly had its downs. Quite a bit of inter drama within these private threads.
These private threads have become like little private forums within the forum and let’s be honest, not everyone is fit to maintain balance and fairness in group projects sometimes. And it shows. I don’t blame anyone for anything nor am I disappointed with some of the drama I’ve seen arise in these threads… it’s just the natural consequence of lack of order in such threads.
And beyond the threads, there have been a few broken trades/sales. Transfer of ownership of NFTs requires trust and there have been a few dodgy things that have occurred that should have been avoidable.
Truth is, the downs are a very small part of the NFT free market system that developed here. The majority of the time, things go quite well for everyone. But still, although this is a free market system, I think we should maybe establish some rules Since this is a free market, I think we should all openly discuss this amongst ourselves. Nothing I’m saying here is final and are just my personal opinions and ideas for the time being. Let’s keep this respectful. I’ll start.
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I’d like to be added to all groups from now on. I have access to all of them but I don’t get notifications for them so I’m not caught up on what’s going on in most of them unless I look them up individually. These private groups are all in a sense, massive threads including many members here and as moderator here, I have to keep my eye on things to make sure things are fair and nobody is being wronged. I’m a neutral party and can help bring a balance of fairness if needed.
I am solely speaking about NFT group projects by the way. Also… don’t be afraid to tag me folks. I appreciate when you do and I’m only here to bring balance, not takes sides and further any issues. Never feel like you can’t call on me. I’m here for ya’ll.
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If everyone is contributing, everyone should have a say in the group. I think people who put in the most effort and lead the conversation of a group should have more weight in their ideas/decisions of course. I just don’t want to see anyone get carried away with that weight of authority and just undermine other people. That’s all. Not pointing fingers and I’m just saying I don’t want to see this happening. On a positive note, I already see that when it comes to certain decisions, people are using the voting polls to decide things and I think that’s fair and well done.
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It is also up to the group to set up sell limits. This is sort of how guilds work and I get the whole concept of setting a sell price limit so that everyone has the same chance of selling. What I’ve noticed is some extraordinarily high price limits at like 7-10k… which is either to deter people from selling or for people to be able to make a ton of money if they sell. Some, its because that’s the value they feel the field is at. There’s many reasons why but… in my honest opinion, it just feels off to me.
Technically, an NFT could just be traded. So someone could just get it for trading something that was way cheaper than that other NFT. The extraordinarily high NFT prices makes it very unlikely to be sold but more possible to be traded. But trading isn’t the simplest thing and someone may just want to buy an NFT if it were being sold.
Some people are very interested in purchasing some of these NFTs because they are the ultimate dream field they always wanted… and maybe they missed out when the group project was announced or are new to the forum. But then they look at the price tag from someone selling and find it extremely excessive and inaccessible. This happens to many people. And heck, having these high price limits may even make some owners who really value the NFT tempted to just sell it cause what if they get lucky and someone buys it at those high prices?
Anyways, it just doesn’t feel right intuitively and I’m just expressing my opinion on it. I don’t think this is something I’m going to make a rule on because such decisions are left to the groups when designing these fields.
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The question of how many NFTs can each person be able to purchase has come up quite a bit. Again, that is up for the groups to decide. Some people say that if you contribute more, you should be able to buy more copies. This whole metric of who contributes the most can be subjective though because someone may not post much in a group but write some extremely quality insights and schematics for a field and that one post be very helpful. I just think that everyone contributes, they should have the right to an extra copy or two or however many everyone agrees upon. It’s quite simple, as a group, decide on a limit to how many extra copies could be had (not the best idea to over saturate). Everyone says how many extra copies they would like. And then from that number, determine the total amount of NFTs for the sale.
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I think if someone doesn’t participate in a group at all. As in puts in no input, they can be kicked from the group. Here’s the reasoning behind this.
I understand that there are some people who really would like an NFT but don’t have too much input, are a bit shy or don’t exactly know what to add. That’s understandable. But this is a group project where everyone contributes and when some people don’t put in any effort, it can feel as if they’re there to benefit from all the work put in. Even if that isn’t the intent, it could feel that way and it doesn’t feel fair to those who do put in work.
There are also people who just enter groups, to buy NFTs and then sell them. Which could feel like people are there to just profit off of people’s work. Some of these people actually end up being big contributors even and people get upset that they got the NFTs, and went right to selling/trading them. I’ll get into that more for the next bullet point. Before I move on though, I will say this….
I don’t think that people need to be super active either. Some of these groups have thousands of messages. Not everyone has that kind of time. I think so as long as you contributed to the schematics and check in here and there with the ongoings of discussion and add your two cents (sometimes certain questions or discussions require other input), then that should be fine.
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The truth about the NFT market is… once you own an NFT, it’s yours to keep, sell or trade. I don’t think we can tell people what to do with NFTs they rightfully purchased. Now, what this has spawned is people who involve themselves in NFT groups for the sole purpose of getting new NFTs to trade/sell. I know this bothers some people who are passionate of the work they put into these group projects and then to just have people profit off of it. It can feel like they don’t actually value the NFT and the work put in. But if these people participate in the NFT group projects and put in the effort of creating the NFT… it’s their right to sell or trade. Can’t judge or attack them for that. But…
As groups, you all make decisions amongst yourselves that you all agree upon. When you breach those decisions and then go off and do things differently, that is a breach of trust. You are breaking rules you agreed upon with others. People feel wronged and they want justice. This is understandable. A possible consequence could be…
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If someone gets caught breaking upon agreed rules, they get hit with a badge of mistrust when it comes to selling/trading. That badge alone can bar them from future groups or even trades/sells.
I think this would be fair because as I said before, once an NFT is in someone’s possession, they have the right to do what they want with it. It’s theirs. It’s not the groups. But breaking upon agreements is a breach of trust that can be publicized to show that someone can’t be trusted. That is a consequence that affects their future dealings gravely.The only caveat to this is evidence. NFT transactions tend to be anonymous. These inner witch hunts can get ugly with accusations thrown at people that may not be involved. I don’t want to see people get petty over things like this. It’s not worth the energy. So I would need evidence of broken upon agreements for a badge like this.
This is only a suggestion for the time being and I’m open to ideas.
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As for trades, I think trust goes a long way as well. So this reputation system can align with trading too. If someone has facilitated at least 3 successful trades, then perhaps they can get the trusted trader badge?
We can also maybe have trade facilitators, that for a fee, act as the middle men for trades (people with 5+ trades only).
Then with newcomers… they just have to be the first ones to send. Only fair. And since they’d choose a trusted badge member, less risk for them anyways.
Let me know your thoughts on this as well.
I am sure I missed several things but that is what this discussion is for. Let me know your thoughts on everything I mentioned above. Perhaps if there’s anything you would like to see different, any questions, any concerns… let’s discuss it all here.
PS: Are you guys taking the time to soak in the NFTs you get… they’re all pretty amazing truly. I just hope that people are actually using and taking in the ones they get.
started but at the same time some are seeking profits (which is fine) limiting copies and reselling at their desired price (which is also fine, the other party must agree to the trade)
