I made an NFT and people can’t stop minting it

Hey guys how's it going things have been Rough out there okay crypto prices are Down and if the prices are down we're Finding out that some people at the Highest levels were in fact frauds all Along and generally there's just like a Wave of sadness all over the place so What do you do in times like this well One answer could be that you launch a Free nft and that's exactly what we did In the middle of this bear Market oh I'm Not gonna lie I do kind of feel like Some guy selling trinkets in the middle Of Depression era New York but I figured That in the middle of all this chaos we Could use a game okay some kind of a Distraction and apparently you all Thought so too because more people have Minted this nft than any other project Since I launched it earlier this month In fact over 34 000 nfts minted in total And is still running as of today now Before I get to the game I have to Explain why I think this drop was so Popular in the first place even more Popular than I was expecting and it has To do with one of the biggest problems That nfts have faced since the very Beginning you know when they got popular Over a year ago and I think it also Points to the next big wave of projects That we're going to start to see as Early as the next few months what's the Problem well I think I can explain it

With this handy little chart that I made Earlier okay so as you can see here we Have two categories you have the casino And the factory and These Bars represent How I think the market share is going to Change from one to the other over the Next few years and I'm going to explain The factory in a minute but what you're Seeing here right off the bat is that Today the casino makes up the vast Majority of nfts now to me it kind of Makes sense that this is what dominated The nft space in these early Innings Right because when you think about it Most of these projects were made by Crypto people for crypto people and so They were already born out of this Speculative space and that's why you Know some crypto ogs have gone even as Far as to say that nfts are just all Coins with pictures which so far has Been more right than wrong now the Reason this is a problem is that when You have an audience that is really only Intimate for the speculation then Creators are going to give them what They want and they're going to start Optimizing their project in a way that Really only benefits those speculators Okay because well the customer is always Right and so as a result you'll see Things like an artificially small nft Supply because that's easier to pump and Funny enough as we go deeper into the

Bear the average Supply just gets Smaller and smaller because there's Fewer people in the space and everyone Knows that it's easier to pump a Collection that has 1 000 nfts versus One that has 20 or 30 000. another way Speculators have changed the space is by Pushing creators into an airdrop meta Where they just keep rewarding holders With nfts and more nfts and more nfts Instead of building a sustainable Business that takes longer to develop Where you know in a space that has no Patience whatsoever everybody just wants To get as much value as possible ideally In the next few weeks at most but Perhaps the biggest problem that comes Out of these speculative nfts is that They get so much negative PR okay people Just really don't like them and that's Because they feel like ponzis like Whenever somebody you know shows you one Of these nfts you kind of have the Feeling that they're just trying to dump On you as soon as the price goes up and You know that just limits the amount of Positive coverage that these nfts are Going to get and so what you'll find is That the media doesn't talk about them Large creators don't talk about them Because they're not gonna just show Something where people are gonna buy the Top get hurt lose money on and you know That's just way too radioactive and not

Worth talking about at all however there Is some good news okay these Casino nfts Actually performed a great service you Know they acted as a trojan horse that Made entities popular in the first place And all this speculation brought in Builders who then you know created some Of the necessary infrastructure it led To experimentation and new smart Contracts and it generally just made More people aware of nfts than they Otherwise would have if there wasn't Some promise of money to be made but now Like some tired Runner that's on their Last legs it's passing the Baton to the Factory now when I say Factory I don't Mean some assembly line that's just Pumping out Commodities in some soulless Way I'm just referring to the creation Of traditional products that are Targeting consumers not investors and so People are going to want these nfts Because they provide fun or Entertainment or utility and not just Because they hope to flip it down the Road and by the way that's not to say That we can't see you know some of these Existing nfts eventually transition into Products that people want and that's Totally possible we just haven't seen One do it yet and any nfts that don't Even have a plan to get to this product Level before they run out of money are Probably just not going to make it so

Anyways to me these consumer nfts are Gonna be the next big wave in 2023 okay And they're gonna come from content Creators like Mr Beast it'll come from Platforms like Reddit that continue to Do you know free and pay a digital Avatars and it'll come from Brands like Starbucks that do more loyalty program Stuff okay the point is that wherever it Comes from people are going to want them Because they want to consume the value That they provide okay it's not because They're looking at them like Investments And all of these have the potential to Reach significantly more people than Anything we've seen so far and that's Why if we look at you know my little Chart once again you'll see that these Product nfts take more market share as The years go by but I know that when These products start coming out you're Going to see the people that are Currently you know just speculating in The space kind of just brush it off okay And they're gonna be like well if this Can't make my pockets bigger then why Are we even talking about it but Honestly it doesn't matter okay these Opinions don't matter because at the end Of the day we're talking about a tiny Group of people just a couple hundred Thousand active buyers at this point and It's just gonna be a drop in the bucket Compared to the millions of people that

Are gonna come from these product nfts So all of that brings us back to the nft That I launched earlier this month Called Prometheans okay now Prometheans Is very easy to explain because it's Using an incredibly simple mechanic okay So if we just go to the website what You're gonna see is that there's a timer Here and this timer begins at 15 minutes And it counts down to zero and Essentially you can mint a Promethean n Of t as long as the timer stays active But once they hit zero the mint is over Forever now the timer represents a fire Okay it's a fire that has been Maintained by an order of monks since The beginning of time and it needs to be Maintained at least once every 15 Minutes every day 24 7. and the way you Maintain the fire is by minting in the Nft and recruiting a monk okay and what That does is it resets a timer back to 15 minutes and so whenever you see the Timer reset that means that somebody Somewhere minted an nft the other thing You'll notice on the site is that there Are a few monks showing at the bottom And there are a few that are still Hidden and that's because there's a Different Monk basically for every Minute in the timer okay and the monk That you receive depends on the point in The timer that you minted in okay so if You just minted at the top of the timer

Like at 15 minutes you're gonna get the Baldy monk which at this point is by far The most common and so on and so forth The lower you go on the timer you'll Start to get rarer and rarer monks and That introduces some game theory in Terms of how long you should wait before You mint your monk okay it's almost like A game of chicken because the monks at The lower end of the timer are rarer Simply because you'll have a lot more People minting near the top now the Reason you currently only see a few Monks is simply because they only reveal When the timer gets low enough and so What this means is that the timer just Hasn't gone down much at all even after Almost two weeks people have been Minting this project every few minutes Around the Clock day and night now some Of you might be hearing this and going Wait a minute if this has been going on For weeks and people are minting it Around the clock then it must have a Really big Supply and yeah the supply is Theoretically uncapped right because you Know the timer can just keep running Forever potentially and this means that It could actually become the largest Profile pic collection of all time but That's kind of the point that's what I'm Saying this is an example of a consumer Nft as opposed to a casino nft because People are minting it and they're doing

It just out of fun right there's no Expectation that they're going to make a Lot of money and some people have even Gotten very competitive with this and They're creating scripts that might help Them get to the newest monk faster than Other people but most mentors just want To be part of something fun and social And at the end of the day they get a Free nft with some cool pixel art the Point is nobody's doing this because They're trying to get rich okay and in This space that's pretty rare now this Is the first project launched by a new Studio that I created called zero dot Fun and it's not going to be the last Okay we plan to launch more drops in the Near future and so if you want to hear About those first don't forget to follow The Twitter links in the description Below and also don't forget to subscribe To this channel as well my goal is just To do fun share with nfts and push us in A direction that I think is more Sustainable and that will also help us Reach millions of new people okay that's It for today thanks for watching and I'll catch with the next video