How Gitcoin can Leverage Zora’s Open NFTs (July 2023)

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A Braindump by Gary Sheng on 2023-06-02 Please challenge anything I say below!

I'd like to share some insights on the value of Zora's open edition mints, not just for one specific campaign, but for any campaign that utilizes them.

From my viewpoint, Zora is fast becoming a go-to platform for nearly free open edition NFTs. These NFTs are mainly about creating and demonstrating cultural relevance associated with specific ideas or causes.

As an example, let's consider a current discussion about creating an NFT that can only be minted by Gitcoin Passport users with a particular Unique Humanity score on Gitcoin Passport. The NFT could be a fun "Probably Not Sybil" token. On Zora's mint page, there could be a succinct explanation about why Gitcoin is deeply invested in Sybil defense and identification.

Additionally, these NFTs also serve as appealing collectibles that are easily composable. They enable the creation of interesting guild roles and rewards. For instance, someone could conveniently allowlist all those with a "Probably Not Sybil" NFT, creating an engaging game that amplifies the utility of having a passport score.

On a broader scale, an open edition Zora mint allows you to associate a metric related to cultural significance with an otherwise abstract concept, like Sybil defense.

Moreover, there's the concept of a Zora trending page or top mints on Zora, presented as two different lists. Through these lists, we can not only highlight the timeless importance of an idea but also its current prevalence in cultural dialogues. I can see us getting on these lists by leveraging various marketing partners. Gitcoin, with its significant influence, could potentially make anything trend on Zora, as long as it possesses at least some initial cultural significance.

In the web3 space, cultural significance often correlates with what's trending on lists like Zora’s trending lists. How often have you seen people mint something solely because it's trending on OpenSea? People in web3 are captivated by numbers. If they notice an idea, represented by an NFT, is trending, they might become interested in concepts like Sybil Resistance, even if they hadn't previously, because the numbers are convincing.

A common phenomenon in web3 is…

Someone (e.g. Gitcoin) promoting an NFT to mint with an initial explosion of promotion alongside some marketing partners

The NFT becoming a topic of conversation because these relevant orgs are putting promo behind it, and people minting because they trust the orgs promoting the NFT

The NFT trending on lists like Zora’s trending tab

The NFT becoming something worth minting by many people paying attending to trending lists because it has hit the trending tab

This forms a virtuous cycle once a certain momentum is achieved

I believe we can make this phenomenon work for ourselves at Gitcoin with NFTs on Zora, especially because we've already accomplished this over the past few months with the Coinbase shield and the Impact report.

How Gitcoin can Leverage Zora’s Open NFTs (July 2023)

💡

A Braindump by Gary Sheng on 2023-06-02 Please challenge anything I say below!

I'd like to share some insights on the value of Zora's open edition mints, not just for one specific campaign, but for any campaign that utilizes them.

From my viewpoint, Zora is fast becoming a go-to platform for nearly free open edition NFTs. These NFTs are mainly about creating and demonstrating cultural relevance associated with specific ideas or causes.

As an example, let's consider a current discussion about creating an NFT that can only be minted by Gitcoin Passport users with a particular Unique Humanity score on Gitcoin Passport. The NFT could be a fun "Probably Not Sybil" token. On Zora's mint page, there could be a succinct explanation about why Gitcoin is deeply invested in Sybil defense and identification.

Additionally, these NFTs also serve as appealing collectibles that are easily composable. They enable the creation of interesting guild roles and rewards. For instance, someone could conveniently allowlist all those with a "Probably Not Sybil" NFT, creating an engaging game that amplifies the utility of having a passport score.

On a broader scale, an open edition Zora mint allows you to associate a metric related to cultural significance with an otherwise abstract concept, like Sybil defense.

Moreover, there's the concept of a Zora trending page or top mints on Zora, presented as two different lists. Through these lists, we can not only highlight the timeless importance of an idea but also its current prevalence in cultural dialogues. I can see us getting on these lists by leveraging various marketing partners. Gitcoin, with its significant influence, could potentially make anything trend on Zora, as long as it possesses at least some initial cultural significance.

In the web3 space, cultural significance often correlates with what's trending on lists like Zora’s trending lists. How often have you seen people mint something solely because it's trending on OpenSea? People in web3 are captivated by numbers. If they notice an idea, represented by an NFT, is trending, they might become interested in concepts like Sybil Resistance, even if they hadn't previously, because the numbers are convincing.

A common phenomenon in web3 is…

Someone (e.g. Gitcoin) promoting an NFT to mint with an initial explosion of promotion alongside some marketing partners

The NFT becoming a topic of conversation because these relevant orgs are putting promo behind it, and people minting because they trust the orgs promoting the NFT

The NFT trending on lists like Zora’s trending tab

The NFT becoming something worth minting by many people paying attending to trending lists because it has hit the trending tab

This forms a virtuous cycle once a certain momentum is achieved

I believe we can make this phenomenon work for ourselves at Gitcoin with NFTs on Zora, especially because we've already accomplished this over the past few months with the Coinbase shield and the Impact report.