Home

Radical Perspectives

Radical Perspectives
Radical Perspectives
OVERVIEW
OVERVIEW
OVERVIEW

This thesis surveys the rise of NFTs in 2020-2021 through a critical lens and explores the efficacy of using NFTs to broaden physical goods companies. As a skeptic, the intention behind this thesis was to challenge my own existing reservations on the topic, and to instead make informed judgments. As they always say, "do your own due diligence".

YEAR

YEAR

2021

2021

READING TIME

READING TIME

<16mins

<16mins

Approx 3,000 words

Approx 3,000 words

Executive Summary

Executive Summary

In 2020, the NFT market experienced dramatic growth, with the total volume exchanged daily surpassing US$10 million in March 2021. From the beginning of 2021 through mid-December, nearly $41 billion worth of cryptocurrency was sent to two types of Ethereum smart contracts associated with NFT marketplaces and collections. Of these, the largest amount of Ethereum sales were collectibles ranging from artworks to even virtual furniture; in February 2021, Argentinian designer Andrés Reisinger sold ten pieces of virtual furniture for a shocking total of more than US$450,000. Could companies selling non-virtual goods have anything to learn from the euphoric rise (and subsequent fall) of NFTs?

This thesis surveys the potential expansion of physical goods companies into the NFT and virtual space, and evaluates its advantages and pitfalls.

In 2020, the NFT market experienced dramatic growth, with the total volume exchanged daily surpassing US$10 million in March 2021. From the beginning of 2021 through mid-December, nearly $41 billion worth of cryptocurrency was sent to two types of Ethereum smart contracts associated with NFT marketplaces and collections. Of these, the largest amount of Ethereum sales were collectibles ranging from artworks to even virtual furniture; in February 2021, Argentinian designer Andrés Reisinger sold ten pieces of virtual furniture for a shocking total of more than US$450,000. Could companies selling non-virtual goods have anything to learn from the euphoric rise (and subsequent fall) of NFTs?

This thesis surveys the potential expansion of physical goods companies into the NFT and virtual space, and evaluates its advantages and pitfalls.

Table of contents

Table of contents

Introduction

Research
Evaluating the efficacy of NFT collectibles
Secretlab's history with collectibles
Hedging against physical production risks
Building brand loyalty
Rise of work-from-home and virtual offices

Solutioning & Testing
Designing effective NFT launches by identifying patterns

Reflection

References

Read full thesis

Read full thesis