Exploring the Benefits of Going cc0 and Reducing Product Risk in the NFT and Tech Industries

Exploring the Benefits of Going cc0 and Reducing Product Risk in the NFT and Tech Industries

In recent times, there has been a growing trend among NFT creators to embrace the "no rights reserved" approach known as cc0. While it may seem similar to the strategy of allowing NFT owners to commercialize their intellectual property, cc0 holders don't possess the exclusive rights to exclude others from using the same IP. This article will delve into the reasons behind this shift towards cc0 in the NFT community and also explore how reducing product risk and removing the MVP mindset can benefit the tech industry as a whole.

One of the primary reasons why NFT creators are opting for cc0 is to promote the extension and growth of their original projects. By embracing open sharing and building a vibrant and engaged community, creators can encourage experimentation and recombination of their digital works. This approach aligns with the core philosophy of the crypto world, where finding and building communities is crucial. As new derivatives are created and shared, attention is drawn back to the original, strengthening its position in the collective consciousness. This flywheel effect can significantly enhance the value of the original project, similar to the network effects seen in successful platforms.

Drawing parallels from the success of open source movements in the tech industry, we can understand the appeal of cc0 in the NFT space. Just as Linux gained prominence and dominance by allowing people to contribute and build upon its software, decentralized systems in the crypto world thrive on trust and cooperation among strangers. Enabling cooperative opportunities through cc0 allows individuals to take ownership of their digital assets and realize the value that accrues to their contributions. However, for these applications to reach their full potential, there is a need for the creation of supporting infrastructure services that facilitate remixing opportunities.

Composability becomes key in driving growth for cc0 NFT projects. By building digital assets on public standards and interoperable infrastructure, users can easily plug their assets into various platforms. This not only expands the reach of the original cc0 assets but also opens up new revenue streams through ongoing royalties from secondary sales and third-party expansions. By embracing cc0, creators can turn potential competition into cooperation, as seen in the example of Robbie Broome, who opted for cc0 to allow companies like UrbanOutfitters to use his actual work rather than creating something similar.

Shifting gears, let's explore the concept of reducing product risk and removing the MVP (Minimum Viable Product) mindset. When building products, it is essential to acknowledge that initial releases will never have all the desired features. However, continuous iteration allows teams to provide value to users as new features become available. Users may not always be reliable narrators of their own preferences and behaviors, making it necessary for product thinkers to infer solutions based on their understanding of the problems. As Henry Ford famously said, "If I'd asked customers what they wanted, they would have said a faster horse."

The key to de-risking product development lies in understanding the problem and the viability of the solution. Cody, a renowned product designer, suggests that the level of investment before a product reaches the customer should be directly proportional to the confidence in understanding these factors. Often, initial releases focus on proving that an idea solves a problem, which can be achieved through MVPs (Minimum Viable Products) or MVFs (Minimum Viable Features). If the proof of concept is successful, further investment is required to unlock the full potential of the product or feature idea.

Releasing products regularly allows for technical de-risking, as it provides an opportunity to observe how the product or feature scales incrementally. This approach prevents catastrophic failures and allows for iterative improvements and adjustments along the way. By breaking down the development process into smaller, manageable steps, teams can avoid overwhelming challenges and adapt to feedback and market demands more effectively.

In conclusion, the adoption of cc0 by NFT creators and the shift towards reducing product risk and removing the MVP mindset in the tech industry both stem from a desire to encourage collaboration, experimentation, and the growth of communities. By embracing open sharing and allowing others to build upon existing works, creators can amplify the value of their original projects. Similarly, understanding the problem and viability of solutions, and releasing products iteratively, helps de-risk the development process and leads to more successful and scalable outcomes.

Actionable advice:

• 1. Embrace collaboration and open sharing in your creative endeavors. Allow others to remix and build upon your work, as this can lead to a flywheel effect that enhances the value of your original creations.

• 2. Regularly release iterations of your products to de-risk your vision technically. This enables you to identify and address challenges incrementally, leading to more scalable and successful outcomes.

• 3. Focus on understanding the problem and the viability of your solutions before investing heavily in product development. Start with MVPs or MVFs to prove the concept, and then invest further to unlock the full potential of your ideas.