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An open letter to the NothingDAO Community

Laszlo Kovacs 26 89

Via Medium

An open letter to the NothingDAO Community

What’s the first thing that comes to mind when you think of NFTs? I’d wager a guess that the answer to that question for most people would probably be jpegs. NFTs are just crypto jpegs for a lot of…

What’s the first thing that comes to mind when you think of NFTs? I’d wager a guess that the answer to that question for most people would probably be jpegs. NFTs are just crypto jpegs for a lot of casual consumers. It’s why we have such a loud anti-NFT crowd questioning why someone would spend money on a .jpeg file that anyone could right-click and download for free. They don’t fully understand the relationship between the asset/metadata and the token it’s connected to. It was this relationship that fascinated me the most about NFTs and the reason why I created NothingDAO.

The reality is that when you buy an NFT you’re not paying for the .jpeg file, you’re paying for the token. You’re paying to have your wallet address listed as the owner on a decentralized blockchain. The true innovation of NFTs is how they enable ownership of digital assets. Yes, you can download the image of an NFT an infinite number of times but that will never make you the owner. Equating the image file to the value of the NFT is the same as saying why should you buy paintings when you can buy prints. Except no one thinks buying a print of the Mona Lisa is the same as owning the original.

The idea of the ownership of art being separate from the art itself got me thinking — what if I made an NFT that was just a token. An NFT that was just this aspect of ownership without any art at all. And thus, the NothingDAO NFT was born. The NothingDAO NFT has no .jpeg file; the blank image you see on OpenSea is generated from a line of code in a .svg file that’s stored on-chain. The NothingDAO NFT is complete ownership. There’s no metadata stored separately from the NFT that’s susceptible to link rot or even a bad actor. You can’t even copy the image since there are no identifying marks. The NothingDAO NFT is the ultimate form of minimalism. It’s literally nothing. In a space that is defined by flexing, where spending money on the stupidest things imaginable is considered a status symbol, the biggest flex of all is spending your money on nothing.

Nothing #1
Nothing #1

The NFT also serves as your membership pass for full access to the NothingDAO Discord server. The default role with limited access to the server is “Something” but NFT holders can verify their ownership of a NothingDAO NFT to get the role of “Nothing” and gain access to the server’s private channels. The community will serve as a launchpad for future projects from the NothingDAO and will provide long-term value to NFT holders by continuously giving them perks like airdrops and whitelisting.

The true value of the NFTs will come from the people holding them; this token is backed by the strength of the community. I chose a low supply for this NFT to keep the community tight-knit, to eventually price out more casual holders, and to reward the diamond hands. The higher the price of the NFTs get, the more the discord will be comprised of visionaries and successful individuals. And therein lies my true goal with this project; not to create an NFT but to create a community.

— Laszlo Kovacs, Founder of NothingDAO