We are at a crucial time of NFT adoption. There is no longer the question of what “is an NFT?” but instead: “what can NFTs do for your brand, business, and the everyday person in their day-to-day life”?
Here at Async, we do not see flipping and price floors as the end game for NFT adoption. We see the emerging creator economy as the true driver of mainstream usage of NFTs. For us, NFTs are a vehicle for disruptive innovation and creativity.
In the not so far future, companies whose technology can best leverage user generated content, (including gaming, music, and art) will thrive in the next market cycle. Async is uniquely positioned at the intersection of art, music, tech, and community building in a way no other NFT platform is. In the same way Roblox, TikTok, and Youtube incentivizes its free users to create high quality content and monetize off of it, Async introduces tooling that enables Web3 creators to create NFTs with utility and function, allowing them to grow and nurture their own community within a single piece of artwork, music or series of generative collections.
In just 3 years and with only $2.7M of venture capital, we’ve launched 4 unique product offerings and generated over $30M of sales volume on our NFT creation platform. We grew from a humble platform of 200 hardcore fans to now over 45K users. But more importantly than that, we’ve changed and empowered some creators' lives forever.
We began in February 2020, when the world’s first programmable artwork was launched. Here is our genesis mint “First Supper” where each character, even the ceiling and tablecloth were drawn by different artists and owned by different collectors. We invented a system we call “Layers” which is essentially deconstructing an artwork, (and later a music piece) into individual components to make the visual output dynamic and ever changing.
This is the first art NFT collected by Metakovan, better known as the collector of the $69M Beeple later in 2021. He won our live auction with 104 ETH during the last crypto winter. What happened after that is history. We showed the world that NFTs with utility and dynamic abilities are infinitely more interesting and of higher value than what art NFTs are traditionally used for.
We faced some challenges of course. With the first iteration of programmable art and music, our scope was limited to how many Layers a creator could fit into an artwork or a Master soundtrack. With gas fees on the rise and the minting burden on the creator, the team knew a more scalable, lightweight model was needed to draw more users into the Async ecosystem.
We took inspiration from emerging PFPs and Art Blocks and released Blueprints in December 2021 - a generative way for one creator to easily produce millions of possibilities with the collector shouldering the minting cost.
Traditionally, it takes a team to launch a PFP project. Engineers, artists, and marketing. With Async we took on the heavy dev load as well as provided marketing support so it became much easier for a single creator to release a generative collection and grow their community. We saw our user base triple overnight and it continues to grow into 2022.
On the music side there is now a compelling reason for any record label or AAA tier musician to utilize this system for their NFT drops. With music and songs now deconstructed into Stem Layers, fans can collect a unique variation of their favorite musician’s song, ushering in a new way for musicians to engage with their fans, and providing another revenue channel in the same fashion as selling merch, digital CD packs, etc.
Across communities and especially in the last bull run, we saw the NFT space quickly become inflationary, with many NFTs valued by their flipping potential. This was not a sustainable model. In order to achieve mass adoption, we want to give creators ways to continuously add value and breathe life into thoughtful, meaningful projects.
Looking forward to an exciting 2023, our team will take the best of both models and combine it to make dynamic and generative NFTs available for creators and brands.
Every project, creator, or brand who has made a PFP-like collection and wants to reward their holders or anyone who is looking to enter Web3 space in an inclusive, interactive way, will all be interested in this shared future.
We call it: Dynamic Blueprints
This is the world builder of a creator’s dream. No limitations with infinite possibilities as well as the ability to expand and invite collaborators into your NFT collection. Look forward to early 2023 when this new product will be released.
For creators looking to test out our existing suite of tools in the meanwhile, get started here.
Browse incredible art and music projects on the Async Market here.