The Future of NFT Adoption

Written by
Lisa Liang

The Future of NFT Adoption

Written by
Lisa Liang

The Future of NFT Adoption

Written by
Lisa Liang

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 Studio Yorktown's debut Async artwork, he allowed each individual collector to collect a window Layer. Each apartment is empty and dark, and as the Layers were collected, the entire building began to light up as its new inhabitants turned on their Layer to signal a friendly wave to their neighbors.

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.

Our iconic genesis mint features artists such as XCOPY, Hackatao, Josie Bellini, Matt Kane, Coldie, MLBITY, Shortcut, Sparrow, Vans Design, Connie Digital, and of course the late Alotta Money.

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.

George Boya's "Cosmic Chess" allowed the Red Player Set owner to actual chess against White Player Set owner - a virtual manifestation of chess playing within a programmable artwork.

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.

Our genesis launch included XCOPY and his collection called Grifters, which generated over 11M+ in one week and continues to passively generate income on secondaries.

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.

Marubu's "Arcade Riot Club" features bright fluorescent colors and cyberpunk aesthetics. It has over 225 Trillion possible combinations, and only 666 Editions will ever be minted.

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.

In partnership with HIFI Labs and Text Me Records, Ricky Lake launched the first fully generative music album on Async called "Altered". There are more than 6600+ combinations and every song on the album is slightly different from the next.

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.

To keep up-to-date on the latest developments, follow us on Twitter and Instagram. Join our Discord or sign up for our email newsletter to be the first to know about new art and music drops!