.@meta_angels is the first project to implement lending.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
I don't think it will be the last, because I think it's a very powerful mechanism that at the very least, most club-like projects should consider and probably implement.
Disclosure: https://t.co/iWJPfPhunc
👇
There are three parties to the loan:
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
- the person being loaned to (the receiver)
- the peson doing the loaning (the loaner)
- the project
All three parties benefit strongly from the process, which is why I think it should and will take hold.
One by one:
The receiver benefits because they get access to at least some of a project's benefit, that they otherwise could not access. In the case of @meta_angels, they get access to the "helping" network that the project is building.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
Anyone who's been part of such a network, like @Techstars (which @AllysonDowney has been) or @ycombinator (@acav), or built one for themselves (me and @paulinatenner) knows how insanely powerful a good network is. It makes impossible things possible.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
But the @meta_angels founders know that if the project is successful, the project will drift out of affordability for those who need it most, those from disadvantaged backgrounds, without that access. Since their purpose includes helping those ppl, they implemented loaning.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
The benefit to the receiver, then, in the case of the Angels, is access to the Angel network.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
If MAYC had loaning, the benefit would be access to the MAYC/BAYC network.
If @Llamaverse_ implements loaning, the benefit will be access to the alpha calls and conversations.
Etc...
For the lender, the benefits are they:
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
- make use of NFTs that would otherwise be sitting around unused
- help their onboard friends (who maybe can't afford NFTs yet)
- help the club get better (by loaning to ppl worth inviting to the club)
- feel good about it all!
In the obsessive repeating of the WAGMI mantra, sometimes it becomes just words. But NFTs and crypto are fundamentally collaboration technologies above all. If you're into NFTs, you probably want more collaboration. That's how WAGMI happens.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
Finally, for the project, the benefits are also no-brainers if they have a club mechanic, imho.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
It may not be as obviously valuable for other value models (see https://t.co/D1dUi8BVvL for some other value models). But for clubs it's a no-brainer.
First of all, the effective increase in unique holders leads to the community being stronger. Owners are likely to loan out to ppl who they think *should* be there and want to. In other words, you get more "ideal members" (see https://t.co/JYmNckzELJ ).
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
Loaning basically helps turn investor holdings (dead weight from a club pov) into ideal members. Ideal members are much more valuable to clubs than investors, and having more of them early on increases the chances of the club's success.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
Not only that. Loaning is sort of analogous to staking, in that it locks up supply, and probably has a similar effect on the floor (📈).
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
But unlike artificial staking, there's a good reason for the NFT to be locked up here: it's actually being used. So it's not manipulative.
So, all in all, I think loaning is going to become a very desirable feature for club-like NFTs. It's a win-win-win that, now that it's been pioneered by @meta_angels, will spread.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
Club-like projects that have loaning will do better than those that don't.
Unfortunately, loaning needs to be written into the smart contracts afaict. This means currently existing clubs won't benefit from it.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
Relaunching on a new contract is pretty tricky and weird, so I doubt many projects will do that.
Loaning needs to be there from the start.
If your project is already launched, there's nothing you can do about this.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
However, if you haven't launched yet, I urge you to figure out a way to implement loaning (securely - get some auditing and all that!). NFTs are a very competitive world. Every little bit counts.
I believe that at some point in the future, loaning (and other things like vesting) will be such a fundamental thing that projects that don't have them will seem... quaint and antique.
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022
If you can future-proof your project for this, why not do it?
(3,3,3)
gmaen & gl ✨
PS: Damn, I forgot one of the benefits of the loaning, for clubs: As @nft_Vis points out, it gives a chance for new potential owners to preview the club and firm up their buying decision. Another benefit to the project. https://t.co/6CqWMUznTU
— Daniel Tenner (swombat.eth) (@swombat) February 10, 2022