Hey All, I have so many ideas right now but it’s tough to get it all on paper in a really succinct way. So I apologize if this jumps around a bit. Just sharing the tea leaves.
Almost better is that I can share links with you from what I’m reading/listening to. My Telegram has a “read-only” channel you can follow for those links and absorb more there:
If you want to follow join here: https://t.me/artxattention
The biggest changes in the sphere I follow are happening in Media x Finance.
In Media, it’s all about the INDIVIDUAL.
As institutional trust wanes, individual trust grows.
This means individual “brands” are more important than ever. Have you noticed that the city of Miami is getting so much attention because of the Mayor being out in front? Mayor Suarez is curating and creating the conversation. And so people want to talk directly with HIM!
And if media is about the individual…
In Finance it’s all about the group.
What we learned from Wall St. Bets and BEEPLE’s auction was that communities are developing and learning to utilize finance for collective sharing of opinions.
This is powerful because financing your ideas gives them more power in the culture.
A large auction with large dollars brings massive media attention to it. Think about how many impressions the Beeple auction and the discussion around NFT’s has created?
And when a crowd finances an idea together, in a leaderless way, you see movements happen that our institutions and system aren’t ready for.
Every business is a media business.
And because every company is a media business, they will hire or acquire media personalities (individuals) to boost awareness and own their own story. Influencer “acqui-hires” will further unbundle journalism.
This means that the *costs* associated with buying IP and Rights to new businesses, products, Royalty streams, Youtube channels, and any other IP that generates an income will decrease by 100x.
Eventually, acquiring media properties will be like acquiring advertising, except you own the whole channel after the acquisition.
This acquisition can drive sales, provide narrative support, and earn royalties. (A profit-center and a cost-center).
Companies will therefore purchase media channels and influence, giving liquidity to creators who put in sweat equity to build their channels.
And, Youtubers and Influencers can now “exit” just like a traditional business.
Everything is a financial asset.
In the crypto economy you bring markets to everything. This means everything is a financial asset, and when (almost) everything is a financial asset, the crowd can trade and swap whatever they’d like.
Everything can be priced, therefore everything can be swapped and traded.
Trade pairs for almost everything emerge in a type of “Uniswap for Everything.”
Status and attention are commodities that can be bought and sold (and priced).
The “Wallet” becomes the “News-feed.”
Converging Media x Finance.
Furthermore, this means access to the users-wallet is the center of power and leverage for big tech, akin to owning the news-feed.
It’s the new place of attention.
Your public wallet is like a profile (Venmo was the v1) to which you can display status, transactions, and publish to. Which will overlap with how we share and create media around the financial assets we own.
Cryptocurrency is a communications network, and the language is investing.
If everyone is now an investor and a media personality, we’ll need a place to share the overlap of those to.
And I don’t think Instagram is the place we’ll do it…
Who will own the wallet will own a good part of our attention.
This is a profound shift in how we can express our opinions in the world and in the culture – both as individuals in media and in groups in finance.
Thanks for reading my notes, and catch you next time,