Hackernoon logoNon Fungible Token (NFT) business model haikus about objects that own objects by@ben_longstaff

Non Fungible Token (NFT) business model haikus about objects that own objects

Ben Longstaff Hacker Noon profile picture

@ben_longstaffBen Longstaff

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Digital cats with money making hats

source kitty

Non Fungible Token (NFT) business model haiku

First you buy a cat,
Then you buy your cat a hat,
Your cat owns the hat.

It’s a magic hat,
The hat shows up on a map,
A map used by rats.

Now Matt likes your cat.
But when you sell Matt your cat
The cat takes its hat.

Rats will pay the hat,
So they can locate the cat,
The hat pays Matt’s cat.

And the cat pays Matt.
Don’t you wish you still had that
Money making hat ?

Inspired by Fred Wilson and Chris Dixon’s podcast conversation and Fred Wilson and Dieter Shirley’s fireside chat at token summit.

The cat = your data
The hat = insights into who you are from your data
Matt = 3rd party platforms that you give your data to in exchange for services.
The map = data brokers
The rat = advertisers that want to get the right ads to you

NFTs can be used to include people in the value created from their data by leasing access to data and moving Machine Learning to Federated Learning.

I unpack this idea and how it relates to personal data in the article below.

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