- You 'own' your NFT but there's no programmatic way to monetize on that or to build on top of the your NFT's IP
- Anyone that owns an NFT that states that you 'own the rights to your specific NFT (e.g., a Cool Cat)'
- Anyone that wants to create an ecosystem of NFTs around their core NFT's IP — and make money off of it!
High level solution
- Programmatically create derivatives of your NFTs; create N number of trading card NFTs that are derivatives of the original NFT
- These derivatives will be 'trading cards' that show stats of the original NFT
- Bored Apes leading the charge on using their NFTs for merch, music, murals, comic book, etc
- Owner of Bored Ape #6068 lets anyone use it for .02 ETH https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/111558001269395431138572590975405607139590663093731712964826342979501444572944
Narrative This is a primitive that allows for the no code creation of 'derivatives' of the core NFT; thus, users are able to sell these derivatives and earn income on their underlying NFT
- Any derivative can work
- DAO for governance on what contracts to include in whitelist
Community IdeaDo an NFT airdrop for collecting one of each whitelist
Community IdeaCard battle game
Community IdeaAlgo generated filters on cards
Community IdeaDigital autographs on NFTs
- Using Alchemy NFT (https://alchemynft.org/) for 'digital autographs' on NFTs and 'NFT transmutation'
- More traits, accolades, badges, etc
- Different front-ends with better UX
- More projects on whitelist
- Chain Runners
- General extension: anyone can 'give permission' for others to use their NFT's commercial license in exchange for a fee