TL; DR
-
Crypto networks are so attractive because not only are they open, but they are also owned by no one; meaning the rules of the game are set – if you want to build on them, you can do so knowing that no curveballs (huge rule changes) will be thrown at you.
-
10101.art is a marketplace that sells fractional shares of works of art through NFTs.
-
The 10101.art team leveraged the Ethereum network, which has a monthly active user base of ~12 million people. Some/most of these will probably:
-
Provide funds on the network (in the form of ETH).
-
Have an interest in investing.
-
Be open to alternative assets.
-
Full story
“An open network, owned by no one.”
That’s a pretty bold concept when you think about it.
Sure, we have open networks like Instagram, TikTok, Twitter/X – they’re open in the sense that you can join or use them for free – but they’re all owned by separate entities.
Which means these entities can change the rules of the game to extract value from the pockets of their respective users.
For example, if you used to have 1 million Instagram followers, chances are you could reach most (if not all) of them with a single post.
…if you want to do that today, you’ll have to pay, because Zuck changed the reach rules on IG (which is well within his rights. He possess the network).
What makes crypto networks so attractive is:
Not only are they open, but they are not owned by anyone.
This means that the rules of the game are fixed. If you want to build on that, you can do so knowing that no curveballs (huge rule changes) will be thrown your way.
That’s why everyone is so optimistic blockchain technology in the long term.
The theory is that these open and permissionless blockchain networks will attract and swallow all the new products and services that require networks to function.
Take for example 10101.arta marketplace that sells fractional shares of works of art through NFTs.
If you’re thinking “that sounds a lot like a crypto version of Masterpieces”, we are here for you!
Here’s the cool part:
The folks at Masterworks have one enormous head Start!
They have amassed a base of 811,000 investors, purchased more than 300 works of art (including Claude Monet, Andy Warhol and Banksy) and currently manage $800 million worth of art assets.
How do you compete with that?
Well, you could be start all over again…
Or you can use the Ethereum network, which has a monthly active user base of ~12 million people. Some/most of these will probably:
-
Provide funds on the network (in the form of ETH).
-
Have an interest in investing.
-
Be open to alternative assets.
That’s exactly what the people behind 10101.art do.
And can do it reliably, without permission from a third party – because Ethereum is an open network, owned by no one. It’s pretty neat!
(And a roadmap that other networking companies will likely follow in the future!)