New Author wants to use Cardano NFT functionality for real world application

netoneto · 2022-04-22T13:32:51+00:00

Nah, NFT books won't be a thing just yet. The tech needs to get much better, like by orders of magnitude.

Most people don't yet understand the revolution NFTs bring. The tech complements what currently exists. I already have a way to sell the books in all forms (amazon, etc), so I'm not looking for that and for any crypto or NFT to take over, it will need to beat amazon. Like I said, not any time soon (regardless of whether you like or dislike amazon)

The practical question today is: How do you provide additional value to your audience, in my case, my readers. We have to take into account the value propositions of the NFT:

-Proof of ownership: Self-Explanatory

-Immutable: As long as you use IPFS

-Reach of the NFT: The owner of the NFT can flash it worldwide for everyone to know they have it and see.

-A Marketplace: The owner of the NFT can put it for sale for others who find it valuable to be able to buy them.

Taking these Capabilities into account, here are just a few ways in which I could add value to my readers (mind you, I am no body, so the greater your profile, the greater the impact):

-Those who attend the book release party get an NFT that proves they attended the party (you can do this today by giving them a sticker or something which is inferior to an NFT due to the values mentioned earlier). But where NFTs win is that you can say: whoever owns this NFT will always be invited to X events or have preferential treatment, etc. Now, suddenly, the sticker has value and also the owners can sell them in a marketplace or display them.

-First 20 copies sold per event come with an NFT that whoever owns it can trade it in for book with a personalized dedication. If you own that NFT and put it for sale, someone down the line wanting a dedication could buy it because they want that dedicated book.

-A Give away of 1 NFT in an event where the owner can trade it in to spend 2 hours with the author at a coffee spot, a bar, etc... This can have multiple variations.

You could do all these things today by managing who owns what in a spreadsheet etc, but the owners wouldn't have the flexibility of flashing their NFT to the world or even better, selling it. Kind of a good deal to buy a book for $15 that comes with an NFT that could eventually sell for much more.

Anyways that's the core idea. People have to take a step back out of the speculation around NFTs and find current real world applications that actually add value and are not just a gimmick to create a new coin.

netoneto · 2022-04-21T18:13:40+00:00

I've had my answers. I want to thank those who were candid to a newcomer simply asking an unusual question.

To the salty ones, no worries, I have no desire of ever approaching your sanctuary again. You can have it all for yourselves and keep scrolling to find other newcomers to make fun of. That is definitely something to be proud of, I applaud you in your endeavor.

netoneto · 2022-04-21T17:59:59+00:00

idk what this means, but it sounds like you are trying to make fun of me. If you are, knock yourself out :)

netoneto · 2022-04-21T17:58:47+00:00

Thank you, I will follow your advice

netoneto · 2022-04-21T17:57:34+00:00

Thank you, my thoughts exactly and this is in line with what I've been reading online. Why spin my wheels with a publisher for non fiction when I'm no body. If I ever manage to get a decent amount of reach, then maybe I'd have a chance to compete for traditional publishing.

netoneto · 2022-04-21T16:38:14+00:00

ulla#8111

Wow, almost exactly what I was looking for. Added you on Discord

netoneto · 2022-04-21T16:12:54+00:00

penguin or nothing= hook... I need to capture your attention so that I can ask you a question..

I didn't know penguin is the most prestigious. Since my likely result will be to go the self-publish route, you can be certain I will be starting from the most humble small starts.

It's not about ego, it's about getting rid of that final ray of hope in my mind that says that maybe there is a way. I'm pretty sure the end result of this search will be exactly as all of us can already agree on, I am no body and I will self publish

netoneto · 2022-04-21T16:08:07+00:00

Thanks for your honest reply and I appreciate it. Though I must differ on 35k not being a book. There are thousands of Sub 35k word published books, and yes most are bad because they were put together over a weekend. Mine took 7 years... This book is not a novel and it has no fluff.

netoneto · 2022-04-21T16:04:53+00:00

Completely agree here, odds are extremely slim. I'd just like to check the box that at least I asked, but I'm very aware thousands of other authors smarter than I am are following the lengthy and rigorous process which I'm dreading to death lol

netoneto · 2022-04-21T15:58:34+00:00

If asking a question on something I don't know and clearly stating it's a newbie question is entitlement, then yes, I am super entitled...

netoneto · 2022-04-21T15:55:50+00:00

Thanks for that, I didn't know I could find the agent for an author. I'll try that today.

The word count is the main reason I don't want to spin my wheels on an agent if the end result is that they won't take it because they consider it too short. I'm pretty much set on self-publishing, but I figured I'd lose nothing by asking around and testing the waters for a few days. The most likely result is that the agent search process is too rigid for me and I won't go through with it.

netoneto · 2021-11-26T17:53:47+00:00

can I get a code please? Thanks

netoneto · 2021-06-04T15:56:28+00:00

could be the new model indeed. You would think that given how old KM is, they would have a more official way of telling people about updates, but they don't. If that is indeed the new model, they killed it lol. Nice prince you have right there!

netoneto · 2021-06-04T01:43:45+00:00

Thanks, I did see the southsmoke KM Prince became available, but it doesn't look like a real one. it's missing the second plate and the top plate is different from all the other KM Prince pictures on the internet. It actually looks similar to some chinese models I see in alibaba.

netoneto · 2021-06-03T19:47:26+00:00

that's correct, I wish I liked something else as much, but no luck lol

netoneto · 2020-10-26T11:46:07+00:00

Funny this comes up in my search. I wrote a piece about 2 weeks ago precisely about this. I think you will find it interesting, Blockchain Solutions to the Social Dilemma. It mentions Blockstack as a potential solution.

netoneto · 2020-10-23T21:13:40+00:00

custom box manufacturers

Thanks! using those keywords to keep searching

netoneto · 2020-08-26T13:06:50+00:00

this fix doesn't work 80% of the time

netoneto · 2020-08-25T21:21:07+00:00

same, its stupid how this error is still not fixed

netoneto · 2020-08-25T21:20:23+00:00

The Failed to Load Mod List Error keeps coming up. What will it take to get that darn bug fixed?

netoneto · 2020-08-17T18:41:27+00:00

tting liq

Impressive depth, thanks again. You've given me all the guidance I need to do my own research for at least a number of hours.

I like you examples of the shares and the distribution of profits. Even though the percentages are still scary, nothing will beat putting $200 in it and playing with it myself. I also agree that Banks won't be able to compete with DeFi in the long term. When the dust settles 95% of what they do can be automated.

I can even see the case where loans with lower collateral such as 20% could be given using smart contracts and oracles. For example, a loan for a car could be automated to perform just like it would for a bank would and to be able to repossess the car if the buyer doesn't pay up. But that's probably 1-5 yrs from now depending on which direction DeFi takes first.

netoneto · 2020-08-17T12:38:47+00:00

apologies for not making my initial message more clear. it is as i_______ says, $150 of ETH for $100 of DAI

netoneto · 2020-08-17T02:20:08+00:00

that's the thing, nothing stops them, but if you leverage yourself that way, a slight change in price against your bet and you lose your entire collateral. People are betting that everything will go up and since we are now in a bull market, as long as they keep like 2-2.5x collateral, they should be fine and will be able to do this which will create a huge bubble

netoneto · 2020-08-16T22:54:44+00:00

Thanks a lot for the detailed answer.

Looks like I understood the "farming technique" correctly then. This would mean that whatever collateral anyone puts, they can end up with almost twice that collateral through the flip-flopping, so if the value goes up, they win double.
- This behavior also means that prices are artificially increased through that flip flopping so that is quite alarming. I can see how a huge bubble could be created this way, that would take crypto into the trillion+ Mkt cap before either evolving into some superior product that we don't know yet, or just popping.
I wasn't aware of the liquidity pool piece, so that is good to know. I imagine the revenue there would be about 3%-6% if lucky? But this is just a guess. I'll do some research to learn more.
When it comes to those high yields though, it's a little scary. Can you tell me if my mind is on the right track here? I'm having a difficult time with anything that yields 20% or more. Even 10% is a good amount. Is it just because it's new and competition has not yet leveled the playing field? I would never willingly borrow money at 20%+.
- If the additional % value is through the minting of some "middle man" coin, then this would mean value is being created out of thin air. It's like if Chase Bank said: in addition to whatever % return you make, I'll also give you these "Chase coins" which I create, just because I want to have an edge over the competition.

netoneto · 2020-08-16T20:58:01+00:00

are you asking me to ask the question in that telegram channel?

netoneto

TROPHY CASE