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Collectively Owning and Governing NFT Experiences With Tessera šŸŖŸā€‚by@bankless
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Collectively Owning and Governing NFT Experiences With Tessera šŸŖŸ

by Bankless - MetaversalDecember 19th, 2022
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Tessera launched a trio of interesting products aimed at streamlining collective NFT experiences in new ways. The project rebranded from Fractional, the projectā€™s 1.0 system, in August 2022. Tessera is advancing how groups, and not just individuals, can come together on-chain with new sorts of NFT tools. The team is curating ā€œculturally and historic pieces of internet historyā€ for its new ā€œVault Vaultsā€ system.
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Dear Bankless Nation,

Sometimes exploring around NFTs can feel like a solo mission in a strange new world.Ā 

What we need is better tools toĀ collectivelyĀ own and govern the internetā€™s new class of digital collectibles.Ā 

One project thatā€™s working on precisely such resources?Ā Tessera.

This week Tessera launched a trio of interesting products that are aimed at streamlining collective NFT experiences in new ways. Letā€™s get you up to speed on what these rollouts are all about!

-WMP

ļ»æCollective NFT ownership with Tessera

The tl;dr ā“

Tessera justĀ introducedĀ the newĀ tessera.coĀ website, Tessera Marketplace, and Tessera Protocol. This trio of products marks Tesseraā€™s official debut in the NFT ecosystem after the team rebranded from Fractional, the projectā€™s 1.0 system, in August 2022.

The context šŸ“±

In recent days, the Tessera team has been paving the way for its official launch by publishing explainers for some of the 2.0 mechanisms of the new Tessera Protocol.Ā 

These new mechanisms have included:Ā 

  • šŸ›ļøĀ VaultsĀ ā€” a non-custodial smart contract wallet that can lockup an NFT or NFTs for collective ownership, the creation of which kickoff auctions for ā€œRaesā€
  • šŸŒŸĀ RaesĀ ā€” ERC1155 NFTs that represent governance and ownership over a vaulted NFT or NFTs
  • šŸ›’Ā Last Price Dutch AuctionsĀ ā€” ā€œLPDAsā€ are currently the main way to distribute Raes on Tessera, a Dutch Auction-style system with decreasing prices similar to Tyler Hobbsā€™s QQL sale
  • šŸ’°Ā Optimistic BuyoutsĀ ā€” a new way to offer to buy vaulted NFTs that emphasizes fair price discovery

How it works šŸ§±

If you want to take a peek at the new Tessera rollouts, head toĀ tessera.coĀ and sign in with your Ethereum wallet. The homepage will feature the projectā€™s curated NFT Vaults, the first of which is forĀ CryptoPunk #4847.Ā 

While the initial auction for Punk #4847ā€™s 1,000 RaesĀ are over, the zero-fee Tessera Marketplace is now live and makes it possible to buy or sell these Raes, and future sold-out releases, via secondary sales. Punk #4847ā€™s Raes were trading around 0.09Īž each at the time of this postā€™s writing.Ā 

To buy or sell Raes, youā€™d simply head to your Vault page of choice and select either from the ā€œBuy Raesā€ or ā€œList Your Raesā€ options. You can also click on the ā€œSecondary Marketplaceā€ tab to review above-floor Rae listings.Ā 

Alternatively, if youā€™re interested in vaulting one of your NFTs, the Tessera team is curating interesting opportunitiesĀ via submission formĀ right now, so feel free to contact them if you think you have a good fit.

Why it matters šŸ«‚

Tesseraā€™s mission is to make ā€œowning cool stuff on the internet with other peopleā€ easier than ever.Ā 

Of course, the web3 collective ownership sector is early and wide open, but with releases Tessera is advancing how groups, and not just individuals, can come together on-chain with new sorts of NFT tools.Ā 

People often joke that crypto is ā€œPVP,ā€ a reference to the cutthroat gaming notion of players versus players. As projects like Tessera and its tool continue to gain steam, I think weā€™ll see a growing emphasis on squadding up and working together through NFTs in contrast.Ā 

What to watch šŸ‘€

Going forward, the Tessera team plans to continue curating ā€œculturally significant and historic pieces of internet historyā€ for its new Vaults system. That means be on the lookout for new Raes secondary marketplaces to keep popping up around notable NFTs.Ā 

Additionally, look for other NFT projects to start plugging into Tesseraā€™s open infra. For example, Tessera co-founder Andy Chorlian just teased that Uniswapā€™s NFT aggregator system is poised to plug into Tessera Marketplace soon.

Action steps

Author Bio

William M. PeasterĀ is a professional writer and creator ofĀ Metaversalā€”a Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. Heā€™s also recently been contributing content to Bankless, JPG, and beyond!

First Published here.ļ»æ