The Everything Token
How NFTs and Web3 Will Transform the Way We Buy, Sell, and Create
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- $4.99
Publisher Description
A Harvard Business School professor and a16z crypto research partner and a career marketer and Web3 entrepreneur demystify the coming digital revolution, showing how NFTs will transform our online and offline interactions.
NFTs aren’t just pictures on the internet, or a fad that has come and gone. Rather, they're a new technology for creating digital assets and providing irrefutable proof of ownership. NFTs open up markets that have never before existed, and are already revolutionizing commerce and brand-building at everything from hot startups to Fortune 500 companies.
Kominers and Kaczynski have created a framework that explains what NFTs are, why they’re valuable, and how businesses can leverage them to build highly engaged and intensely loyal communities around their products and brands.
Through original research and industry experience, Kominers and Kaczynski describe the possibilities of this new digital frontier with clarity and rigor. The Everything Token is the essential primer on this innovation that has the potential to transform all aspects of business.
PUBLISHERS WEEKLY
Marketer Kaczynski and Harvard Business School professor Kominers debut with an unconvincing sales pitch for NFTs, which they describe as "individually distinct digital record, which can be linked to other assets or product features, and whose owner(s) can be consistently identified" by transaction records publicly encoded on "massive digital ledgers" known as blockchain. Unfortunately, despite the authors' claims that NFTs have "the power to revolutionize multibillion dollar industries and small businesses alike," examples of the tokens' potential amount to high-tech rewards programs. For instance, the authors implausibly suggest that if the frozen pizza company DiGiorno gave frequent customers NFTs depicting pizza toppings, granting owners access to new product samples, the NFT holders would eagerly trade, discuss, and create fictional characters based on their tokens. The authors don't come close to making the case that NFTs might "augment or replace... pretty much everything" (even healthcare and housing?) and confused analogies inadvertently highlight NFTs' precarious value; for instance, the authors compare NFTs to the deed to a house, though the deed equivalent would actually be the blockchain record while the NFT is the house itself, except that unlike a house, it has no inherent utility. It's hard to get through this without catching more than a whiff of snake oil.
