NFT365: A Year of Education & Mental Health in the Craziness of Web3 by E.R. Donaldson
This article first appeared in Vagobond Magazine Issue 7 which can be purchased as a readable NFT on Opensea
“It was the best of times, and it was the worst of times.” When NFT 365 started in November of 2021, it seemed like the best of times. Now, in what could be argued as one of the ‘worst’ of times for Web3 creators, what has the project come to? The short answer: a lot. With over 300 NFTs minted and hours upon hours of content, listening to this project’s podcast on YouTube or the streaming app of your choice will make you feel like you’ve spent at least an entire year getting an in-depth NFT education.
So, what is this?
NFT365 project was founded to accompany the daily podcast by the same name. The project mint/(purchases a product on its mint day) every day. This effort began on November 11, 2021, and will end on November 10, 2022. Following this, a mosaic of the project’s 365 NFTs will be configured, and the entire collection will be auctioned off.
Hmm… a mosaic of NFTs. Sound familiar? It should.
By the confession of the project’s founder, Brian Fanzo, the project was inspired by the auction of Beeple’s 5000 image NFT mosaic in March of 2021. Fanzo, a digital futurist and keynote speaker, combined this inspiration with his desire to educate the masses on all things related to Web3. So, why a daily podcast? Well, in Fanzo’s opinion, the Web3 space changes “too fast,” for anything but a daily publication schedule.
How does it work?
Entrants to the project have (at least) two clear methods for entering the community. The first is to purchase one of the “Founders Mint 365” or the “SuperFanz Mint 365” NFTs, both of which offer a percentage payout of the entire collection. Alternatively, listeners can jump into the community by purchasing the creator coin $ADHD on https://rally.io. That’s if you want to invest in the project, of course. If that’s not your thing, you can just check out the podcast, read the blog, or hang out in the Discord. Community members have had plenty of chances to get airdropped special edition NFTs for being engaged, particularly if they participate in the “proof of podcast” (POP) quizzes within the first 32 hours of listening to the show.
What does this community value?
First and foremost: the NFT365 community is about education. Listeners curious about Web3 and NFTs can binge literally days of content without forking over a single penny. True story: this was one of the first communities I found when trying to get a handle on this space. Ranging from basic topics like, “What the f*** is a ‘non-fungible token’?” to alpha on which projects are making waves, there’s a little something here for everyone.
Simply put: the NFT365 community is a community for collectors and Web3 enthusiasts looking to learn more about the space. But what are their values?
Well, you may have noticed in the last section that the creator coin associated with the community is the $ADHD coin. This was not a coincidence, nor is it a slight or inside joke against folks with that particular condition. Mental health is a major focus of the project, and Fanzo talks candidly about his experience being diagnosed with adult-onset ADHD. Members of the community are encouraged to share and find support through their mental health struggles. As I alluded to in my intro: this space recently went through a pretty serious shift that undoubtedly impacted the mental health of many investors, creators, and enthusiasts. We’re all going to make it (WAGMI) isn’t just an acronym for the team of NFT365; they take active steps to implement it in their culture.
Speaking of culture, diversity and inclusion are front-and-center on the project. Fanzo does everything he can to pass the mic to creators of different backgrounds (particularly as it relates to women-led NFT projects). Several projects minted as part of the upcoming mosaic have been picked, in large part, in the name of being inclusive.
That said, diversity’s not the only thing driving the project’s daily purchases. The project’s founder has put his own finances and his own reputation on the line here, and he’s not joking around. In addition to all of the intangibles associated with being in the community, there’s still an interesting investment proposition at its core.
A Brave New World
When you strip back the massive amount of education and community support, one could make the argument that falls back on a straight-up speculative financial proposition: can someone mint an NFT every day for 365 days straight then turn around and sell all those NFTs in a single auction for a profit? Fanzo thinks so, and to fund the effort, he’s invited the community to invest in the project with him. Owning one of the community’s NFTs gets you a percentage of the sale of the project.
Now, those NFTs to get in on the action weren’t cheap to begin with. Even following the crypto crash this year, the price to get one of those NFTs on the secondary market has only increased. So, someone, at least, is still betting on this NFT time capsule.
But what comes after that? Well, some of that’s still behind the curtain. Brian Fanzo has been clear that the primary utility for the “Season Pass” NFT burns up after 11.11.22. Even so, he and his team have also made allusions to some form of utility for existing stakeholders in the future.
Will this latest crypto-winter put a chill on the return? Probably, but as Fanzo notes often on the podcast: NFT projects aren’t always about flipping. Some projects provide less substantive returns, and Fanzo and his team have proven committed to coming up with unique ways to generate value within their community.
Disclaimer: E. R. Donaldson is a current holder of NFTs and crypto assets related to the NFT365 project. This article was written without the knowledge of, or influence by, the project’s founder or any other stakeholder in the project. The thoughts and opinions expressed in this piece are his and his alone. This is not financial advice.