The Obvious Series: Minting

There are two parts to The Obvious Series:

1. Simple explanations for newer entrants

2. Abstract wtf are we doing here reflections

A dual-function term; minting is onchain ‘uploading’ and ‘downloading’.

A creator of some media, art, writing, etc mints their creation onto the blockchain. The next layer of understanding would be where exactly that data is stored, and what the minted record points to. But for this context, minting is about putting something on the blockchain.

A collector mints things that are already onchain. They see that same media, art, and writing that others minted and want to own/collect it. When a collector mints they are calling on a blockchain function to move that asset to their wallet.

Why do we mint? The internet’s currently working. It’s working so well we have billionaires going to space off of it.

How did they get so wealthy though? People say data, but what does that mean in laymen’s terms?

One way to think about this is a party everyone brings food to. It’s hosted by these titans of industry. Anyone can come as long as they bring something.

The party grew and grew with all kinds of different cuisines, cultures, people, and entertainment. The diversity of the party starting brewing all kinds of new dishes and activities never seen before. And while we were all having fun and making some side money off selling weed and LSD to each other, they were making money at the door, through broadcasting, sponsorships, etc. They used our activity as an asset to sell to other people.

When you look at platforms like Twitter, Instagram, and Facebook you have gathering places set up to facilitate ‘activity’. The ability to let you make some money, allows them to make a lot of money. Blockchains provide a more equitable alternative.

You mint something on the blockchain, it’s in your wallet. You sell something in your wallet, the funds are yours. You become the next XCOPY, everything you’ve ever minted is now a multi-directional asset. The data is yours.

We mint because we deserve more. Not in an entitled sense… just common sense.