Innovating as the 1st Tokenised & Permissionless NFT Platform, with Alex Salnikov of Rarible

TL;DR

Wearable is a leading NFT issuance and marketplace platform that allows users to create, mint, and sell digital collectibles secured with blockchain, with a focus on progressive decentralization and innovative governance.

Transcript

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Key Insights

• 🥰 Wearable is an NFT issuance and marketplace platform that is focused on democratizing access to the crypto art market.
• 🥰 The platform has experienced significant growth in terms of the number of digital art pieces minted and sales volume.
• 💨 Wearable is committed to progressive decentralization and is exploring ways to involve the community in governance and decision-making.
• ❓ The platform is addressing challenges such as wash trading and exploring solutions for better price discovery and liquidity in the NFT market.

Questions & Answers

Q: How does Wearable plan to address the issue of wash trading on its platform?

Wearable is aware of the issue of wash trading and has introduced marketplace fees to discourage this behavior. The team is committed to improving the system and is exploring new ways to incentivize users to trade responsibly.

Q: Can you explain the concept of progressive decentralization and how it applies to Wearable?

Progressive decentralization is the idea of gradually shifting control and decision-making power from the centralized team to the community. Wearable is actively working on building better tools for community governance and involving users in the decision-making process.

Q: How does Wearable plan to use its treasury funds and how can RARI holders participate in the decision-making process?

Wearable plans to use its treasury funds to support decentralized development and marketing initiatives, such as funding conferences and hackathons. RARI holders can participate in the decision-making process through voting delegation and forming governance political parties.

Q: What is Wearable's approach to price discovery in the NFT market?

Wearable recognizes the need for better price discovery in the NFT market and is supportive of projects like Upshot Protocol, which aim to provide peer prediction systems for NFT prices. The platform is also exploring various ways to improve liquidity and establish fair pricing mechanisms.

Summary & Key Takeaways

• Wearable is a platform that democratizes access to the crypto art market by allowing anyone to create and trade NFTs.

• The platform has experienced significant growth, with over 100,000 pieces of digital art minted and over $27 million worth of sales.

• The team at Wearable is focused on progressive decentralization and is actively exploring ways to involve the community in governance and decision-making.