Here’s Why Everyone’s So Hyped on Blockchain Technology (in the Long Term)
TL;DR
Crypto networks are so attractive because they are not only open, but owned by no one; which means the rules of the game are set - if you want to build on them, you can do so knowing that you're not going to have any curve balls (massive rule changes) thrown at you.
10101.art is a marketplace that sells fractional shares of artworks via NFTs.
The 10101.art team have tapped into the Ethereum network, which has a monthly active user base of ~12M people. Some/most of which are likely to:
Have money on the network (in the form of ETH).
Have an interest in investing.
Be open to alternate 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 each is free to join/use - but they're all owned by single entities.
Which means those entities can change the rules of the game, in order to syphon value from the pockets of their respective users.
E.g. Back in the day, if you had 1 million Instagram followers, there's a good chance you'd be able to reach most (if not all) of them with a single post.
...if you want to do that today, you need to pay up, cause Zuck changed the rules of reach on IG (which he's well within his rights to do. He owns the network).
What makes crypto networks so attractive is:
They are not only open, but owned by no one.
Which means the rules of the game are set - if you want to build on them, you can do so knowing that you're not going to have any curve balls (massive rule changes) thrown at you.
This is why everyone is so bullish on blockchain technology in the long term.
The theory is these open and permissionless blockchain networks will attract and swallow any/all new products & services that require networks to function.
Take for example 10101.art, which is a marketplace that sells fractional shares of artworks via NFTs.
If you're thinking "that sounds a lot like a crypto version of Masterworks," we're right there with you!
Here's the cool part:
The folks at Masterworks have had a huge head start!
They've amassed a base of 811k investors, purchased 300+ artworks (inc. Claude Monet, Andy Warhol, and Banksy), and currently manage $800M worth of art assets.
How do you compete with that??
Well, you could start from scratch...
Or you could tap into the Ethereum network, which has a monthly active user base of ~12M people. Some/most of which are likely to:
Have money on the network (in the form of ETH).
Have an interest in investing.
Be open to alternate assets.
Which is exactly what the folks behind 10101.art are doing.
And can do reliably, without permission from a third party - because Ethereum is an open network, owned by no one. It's pretty neat!
(And a roadmap other network businesses are likely to follow in the future!)