Digital cats with money making hats
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 catThe 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 thatMoney 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.
Data Markets: we need to think about using personal data like sex, your consent is required every…_Letting people sell their personal data without informed consent is a terrible idea._hackernoon.com