TL; DR
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Maria Caballeros”Cords” poem was just minted as a Bitcoin NFT (aka Bitcoin Ordinal) and subsequently sold by Sotheby’s for a tidy $11,000.
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Be able to prove that poetry is scarce – and at the same time make it a globally tradable asset? That is only possible with Web3 technology.
Full story
You know those “Oh, yeah, we’re here to stay” feelings you get every now and then in Web3?
(Similar to the ‘we’ll be right back!’ feeling, but more permanent).
Yeah, well, we’re having one of those moments.
Maria Caballeros”Cords” poem was just minted as a Bitcoin NFT (aka Bitcoin Ordinal) and subsequently sold by Sotheby’s for a tidy $11,000.
But that’s not what drives the “oh, yeah, we’re here to stay” sentiment…
And it’s not the fact that Bitcoin Ordinals, which only became a ‘thing’ around this time last year, is already being embraced by an institution as ancient as Sotheby’s…
Instead, it is – and this will sound like an ironic joke you’d hear from your constipated uncle (but it’s not):
Who’s ever heard of making money with poetry?
Be able to prove that poetry is scarce – and at the same time make it a globally tradable asset? That is only possible with Web3 technology.
And yes, we agree:
Wheatus’ 2000 hitTeen dirtbag‘ was poetry in its purest form, and it sold five million copies worldwide – to say ‘poetry has not been profitable in the past’ is a tall order…
But the point we’re trying to make is:
The sale of Maria Caballero’s poem ‘Cords’ reminds us that a whole range of things that rely on scarcity to signify their value can now be digitized and traded (globally) – where this was not possible before.
That means there are a lot of new possibilities waiting to be discovered/proven in the Web3 space.
(“Oh yeah, we’re here to stay.”)