This week’s featured collector is Ravenwood
Ravenwood’s collection showcases an array of digital artworks that blend geometric abstraction with dynamic visual elements. Each piece explores different themes such as complexity, color interplay, and the interaction of shapes over time. The collection stands out for its use of mathematical patterns and organic motifs. View the full collection at lazy.com/ravenwood
The results of last week’s poll: In your perspective, what is the most pressing challenge facing the NFT market today?
Fraud and security concerns dominate the perceived challenges within the NFT market, as indicated by a 40% majority in a recent poll among Lazy newsletter readers. This sentiment reflects acute awareness of the need for enhanced security measures against hacks, a critical issue that overshadows other market concerns. Equal shares of the respondents, each at 15%, highlight market volatility, saturation, and regulatory uncertainty as notable challenges, underscoring a landscape that is not only wary of deceptive practices but also cognizant of the risks associated with market dynamics and ambiguous regulations. This poll provides a telling insight into the mindset of NFT collectors, who are evidently as concerned with the safety of their transactions as they are with the broader market forces and regulatory environments.
An NFT DAO’s Journey from Concept to Scent
In what must is likely the first intersection of NFTs with perfumery, Rook Perfumes has released ‘Scent of the Metaverse.’ This fragrance, now available in the well0known London department store Harvey Nichols, is not merely a scent but represents a collective creative venture rooted in the ethos of NFTs.
By purchasing an NFT access ticket, owners became members of a DAO and embarked on an educational journey into the nuances of fragrance crafting, culminating in their collaborative effort to conceive ‘Scent of the Metaverse.’ Moreover, this venture turned them into co-owners of the fragrance, entitling them to a stake in every facet of the product, from its formula and packaging design. Interestingly, the approval of these DAO members was pivotal for the fragrance’s retail presence in Harvey Nichols, underscoring the authentic decentralized decision-making inherent in the project.
‘Scent of the Metaverse’ represents a genuine integration of NFT technology with product creation. Described as unusual, the fragrance’s notes—white smoke, warm circuitry, digital rose, and celestial incense—reflect a blend of the virtual and the organic.
For those interested in the future of NFTs, this project represents more than just a fragrance launch; it’s a testament to the evolving dynamics of product creation, ownership, and community engagement in the era of web3 and blockchain technology. The journey from NFT-based DAO to real world product sets a precedent for future explorations in the realm of creative, decentralized collaborations.
This week’s poll: What do you believe is the future of NFT-based DAOs in product development and retail?
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