“Every Token: How NFTs and Web3 Will Transform the Way We Buy, Sell and Create,” a new book he co-authored Steve Kaczynski and Scott Duke Cominusis bringing a unique approach to understanding NFTs and blockchain for a broad audience.
Since its launch on January 23, “The Everything Token” has garnered significant support from key figures in the NFT community. This includes Yuga Labs co-founder Wylie “Gordon Goner” Aronow, co-creator of Bored Ape Yacht Club. Shared that 100 units were purchased Of the book. (there is. As well as the evidence photos..)
NFTs have been in the spotlight for several years now, but “The Everything Token” has a following. A diverse readership that serves as a resource for late adopters who want to understand the complexities of blockchain technology and NFTs without feeling overwhelmed. At the same time, it provides fresh insights and perspectives that even those already well-versed in the field can engage with.
With the onslaught of NFT “experts” flooding the internet with insights and strategies, the need for trustworthy authors providing properly verified information has become more necessary than ever.
Both authors are deeply embedded in the Web3 space, not only as observers and contributors, but also as authentic voices within the community.
Kominers serves as a research partner. a16z encryption, the cryptocurrency arm of venture fund Andreessen Horowitz. He holds a professorship at Harvard Business School, where he created and is currently teaching the school’s first course on NFTs and the broader Web3 world. Kacyznski, on the other hand, is also a Web3 entrepreneur and community lead at Starbucks Odyssey. Notably, these authors wrote the first article on NFTs. Harvard Business Review In 2021.
decryption We spoke with the duo about the process of writing the book, their purpose, and additional insight into the value it provides to readers of various professional levels.
Climbing the “NFT Stairs”
After meeting on the Discord server for the NFT project SupDucks And Kominers and Kacyznski, who became fast friends, decided to write a book together and have spent the last two years producing “The Everything Token.”
The goal, he said, was to get latecomers on board and show them the fun of the NFT space, and to serve as a thank you note to the community that brought them a sense of belonging and friendship. Judging by the 200+ names in the acknowledgments section, it’s clear they’ve made a lot of friends along the way.
One of the first concepts they came up with, which became the framework for the book, was the “NFT staircase.” It serves as a metaphorical framework for understanding the essential elements the author believes every NFT project should include.
These five pivotal elements are ownership, utility, identity, community, and evolution, each of which plays a unique role in the life cycle journey of an NFT project.
“It was a really powerful exercise to sit down and think,” Kominers said, adding that she used it as a framework for writing the book. “We used the stairs to show different elements, but also as a way to illustrate the paths and directions you can take.”
Kominers explain that the five elements are interconnected. First, ownership is essential to provide utility to NFT holders. Then, the higher the utility provided, the more likely the owner will attach value to and participate in that particular NFT. This increased engagement results in NFTs becoming more deeply integrated into their identities.
As a result, when an NFT contributes significantly to someone’s identity, it fosters active participation within the associated community. By collaborating with fellow enthusiasts, NFT owners essentially become the core of the NFT brand and play a key role in shaping its ongoing development.
The core of the NFT staircase represents the progression from ownership to utility, where the true “magic” of NFTs unfolds. The authors emphasize that these elements are interconnected to form a dynamic ecosystem in which NFTs can thrive.
a rapidly changing landscape
Similar to the staircase analogy that serves as the book’s thesis, “The Everything Token” begins with a basic explanation, unpacking and defining concepts like “blockchain” and “NFTs.” However, readers can explore the possibilities this technology offers in areas such as art, music, and finance.
The book then explores complex topics such as smart contracts, the democratization of finance, and the future trajectory of digital assets. Nonetheless, “The Everything Token” maintains a light-hearted tone to keep readers engaged while delving into complex topics.
As the NFT landscape evolves, resources like “The Everything Token” could be invaluable. But will it become outdated quickly? In addressing this issue, Kacyznski acknowledges that Web3 will evolve rapidly to the point where the information presented may change, and notes that this was a consideration while writing the book.
best seller. wow.
It’s one thing to have a new product on trend, but in the days following its launch, The Everything Token was ranked as a bestseller in several categories.
Thank you to everyone who supported us @skominers And I dropped this book.
😍📙🙏 pic.twitter.com/M1brBL8Mzw
— Steve 🤙 (@NFTbark) February 1, 2024
“We started writing this two years ago, discussing this issue,” he said. “Who knew a Bitcoin ETF would be approved in January 2024?”
Kacyznski says that’s why they decided to address the issue, but not solve it. He expects the framework will still be useful years later, even if the details or examples may have evolved since then.
“It’s good to be historical,” Kacynzski said, “but it’s a delicate dance of being completely honest and honest about the issues facing this space, but also making sure you don’t spend too much time on them.” ”
There are too many technical and social challenges surrounding the ability of technologies to reach their full potential, including examples of incomplete infrastructure, regulatory considerations, and issues related to diversity and inclusion. But the author says he presents the challenge as a hook that will inspire readers to go and explore and not only learn more about it, but potentially help build some solutions.
Despite constant challenges and roller coaster market trajectories, the authors agree that Web3 and NFTs are here to stay.
“People have a lot of concerns,” Kominers said. “Because it is very real.” “But we wanted to convey our optimism and make the reasons for our optimism concrete.”
Editor: Andrew Hayward
Editor’s note: This story was updated after publication to clarify the scope of the Harvard Business School course.