3 ms·
NFTs are an ideal way for corporations to fund open source projects. When used as a fundraising tool by non-profit projects, they are a portable proof of contri
by CryptoPunk 5y ago
NFTs are an ideal way for corporations to fund open source projects. When used as a fundraising tool by non-profit projects, they are a portable proof of contribution that confers status to the contributor, and thus incentivizes contributions.
Recently, they were used to raise millions for Ross Ulbricht's campaign for a sentence reduction.
- mastax 5y agoWhy is a portable proof of contribution more valuable for a corporate donor than just having the corporate logo in the sponsors area of the website? If anyone bothers to verify that someone isn't lying about their donation they can go check.
- CryptoPunk 5y agoIt makes it more versatile. For instance, if they wanted to transfer it to another company, say one they were being bought by or merged into, they could. NFTization specifically, as opposed to portability, also makes it more interoperable. For example a corporation could show off its contributor NFTs on OpenSea, just by signing in with the account that holds the NFTs using MetaMask, and adding their corporate name to profile that OpenSea keeps for that account.
- 8note 5y agoHow's this better than just sending an email to the maintainer? Plus, you could sell the nft, at no benefit to the open source project
- CryptoPunk 5y agoWell it doesn't require the maintainer's cooperation/response to effect the change. >>Plus, you could sell the nft, at no benefit to the open source project A secondary market that generates demand for such assets, allows more money to be raised in the primary market where these assets are initially sold. Also, not sure if you saw my edit to the previous comment that added the last paragraph. The paragraph adds some elaboration.