The Everything Token: How NFTs and Web3 Will Transform the Way We Buy, Sell, and Create

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(as of Jan 04,2025 01:13:34 UTC – Details)


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Customers find the book informative and easy to understand. They describe it as a forward-thinking guide on NFTs for business leaders, with relatable stories and real-world examples. The book is described as an entertaining read that breaks down complex topics with relatable stories and examples.

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This Post Has 11 Comments

  1. The book so nice, I bought it twice!!
    The Everything Token should be called The EVERYONE Token, because it is such an extremely approachable and easy to understand, educational explanation of Web3 and NFT.Bought a copy for myself, and one for my dad.Great for the business leader in your life interested in new technologies. Great for the skeptic in your life that you want to show the light!5/5

  2. The definitive intro to NFTs for collectors and businesses
    This book takes a complicated subject and makes it easy to understand. If you want to learn about NFTs there is no better text you could read. It requires no background and yet experts will gain valuable insights and enjoy the web3 cultural anecdotes woven throughout the book.In other words, it’s a banger, give it a read!

  3. Good Intro to Tokens
    I am in the process of climbing the learning curve on blockchain, cryptocurrencies, NFTs, etc. This book floated across my desk a month ago and, as its title suggests, it provides an overview of NFTs. The book highlights many of the potential uses of NFTs, while acknowledging that many have yet to be discovered; but its focus is on using NFTs as a core strategy to build customer engagement and communities mostly for commercial purposes. The framework that the authors outline – the NFT staircase of ownership, identity, community and evolution – is a useful way for business enterprises to think about creating and executing these core commercial strategies. The book offers many specific examples of communities – such as the Bored Ape Yacht Club – and companies – such as Starbucks, Nike and Adidas – that have integrated NFT technology into their customer outreach and engagement programs. One especially useful chapter focuses on the ongoing challenges that NFT adoption faces, including high creation and transaction costs, limited customer access and protection, and regulation. Consequently, I believe that this book would be especially useful to any organization that is beginning to consider whether NFT adoption can or should be integrated into their go-to-market strategies.However, there are many other potential uses of NFT technology, both in decentralized networks and also through some centralized control – e.g. digital diplomas, digital stock certificates, etc. – that I believe are more likely to represent the largest use cases for this technology over time. The book mentions these only in passing. As a result, I think that The Everything Token offers an excellent introduction into NFT technology in the currently most prevalent use cases, but it has left me wanting to learn more about and explore these other use cases.

  4. A Business’s Guide to the Blockchain
    The style of writing makes the entire book incredibly easy to read.It’s reminiscent of Malcolm Gladwell if you’ve ever read his works (though Gladwell never referenced super specific Simpsons episodes in the footnotes).There’s content in this book for everyone.Steve and Scott cover just about everything you could on the topic.New to Web3? There’s a chapter for that.Starting a Web3 company? There’s a chapter for that.Adding Web3 to your brand? There’s a chapter for that.It’s a Builder’s guidebookBuilding in Web3 is hard. As someone who has and will continue to do so, I can say there isn’t an instruction manual…until now. The content is structured in a such a way, citing multiple examples each step along the way, that anyone can start to build in a meaningful way.

  5. Must read!!
    Steve is brilliant! Big fan of his points of views and he really knows how to explain groundbreaking tech in a way anyone can digest and understand. Those who can comprehend and apply are into something big IMO.

  6. Fails to showcase the true potential of NFTs. I’d find something else to read on the subject.
    I agree with the authors that NFTs hold a ton of potential. However, this book utterly fails to make that case. Most of the examples they give are around sports, entertainment, restaurants, and related memorabilia (physical and virtual) and event access. They barely give a nod to other use cases.NFTs can give loyalty programs more capabilities. This is no doubt of value to fans and to brands alike. But for something the authors characterize as the third phase of the consumer internet – in other words, world changing – their discussions and examples are rather uninspiring. The use cases they outline are evolutionary steps, not a revolutionary transformation. Example on page 46: “Think how cool—and beneficial for everyone—it could be for a restaurant chain’s most loyal customers to help design the next incarnation of its menu.” Really? This is how you showcase what you are calling a game-changing technology? How will NFTs make the economy work better? I’d like to see a deeper dive on that.They also seem to lack an understanding of some basic economic principles. One of the authors is an expert in loyalty programs works in the Economics department at Harvard, so perhaps they have this right and I’m missing something. But if that’s the case, they failed to explain their case adequately, which is a major blemish for this book.First, in Chapter 3 they talk a lot about the community and business built around the Bored Ape Yacht Club. They claim the company and community are both incentivized to increase the value of the tokens by giving token holders access to things like concerts, etc. The authors never explain how this will sustain itself.Decentralized communities are unlikely to organize big events. Or to raise enough funds through a grassroots effort to organize them. It all still relies on the company that issued the tokens. At some point there will be diminishing returns where the benefit of events and other benefits will not drive up the value of the tokens enough to justify the cost. Then what? Presumably the value of the tokens will plumet. Maybe they then get cheap enough to make events cost effective again. But by then the weakness in the whole model will have been exposed and thus will have limited upside.Then, in Chapter 5 they talk about making airline loyalty programs more flexible, which comes down to making airline miles fungible. This has a lot of value for customers, but the whole reason companies roll out loyalty programs is because the rewards are not fungible. If I can spend my airline points on local restaurants, for example, I no longer need to book a trip with that airline to use my points. Part of the loyalty incentive has disappeared (though the airline status benefits may still exist).Businesses want to lock customers into their ecosystem, not to let customers spend rewards anywhere. Otherwise, rewards become no different than money and it would be cheaper for airlines to just give discounts rather than manage complicated loyalty programs. The more loyalty points act like money (spendable anywhere on anything) the less valuable they are to the airline in driving customer loyalty.On page 64 they say, “When Forum3, the agency consulting on Starbucks’s NFT-based loyalty program, spoke in Scott’s Harvard Business School class in January 2023, one student asked whether it was a problem that Dunkin’ Donuts could potentially offer coupons to people holding Starbucks NFTs. The Forum3 team responded that in their view, this could actually increase the value of the Starbucks NFTs—and hence, the value of engaging in the Starbucks ecosystem—because Dunkin’ would in effect be providing utility to members of Starbucks’s loyalty program.”Again, that makes the loyalty program more valuable to customers. But it makes it less valuable to Starbucks. The example above is exactly the _opposite_ of loyalty. Dunkin’ Donuts wouldn’t issue those coupons unless they had value to Dunkin’ Donuts. That value is coming at Starbucks’ expense. Starbucks wants their customer to search for a Starbucks to earn and use more points with them, not walk into Dunkin’ Donuts. If the rewards programs no longer reward the merchant, the merchant will stop issuing them.On page 68 the authors say, “Utility features of NFTs—like whether they do in fact guarantee special product access—are platform-provided services and may be subject to change. But on a blockchain, ownership of the underlying NFT asset isn’t. Just like Amazon can’t claw back a physical book, The Hundreds can’t recall or erase holders’ Adam Bomb Squad NFTs. And it can’t stop people from giving or lending them to others.”Yes, but the _value_ is in the utility features that are still centrally controlled, not the token on the decentralized blockchain. While the retailer can’t claw back the actual token, they can change or take away any of the benefits it bestows. If you have a physical gift card for a company that went out of business, for example, no one can take that card away from you. And sure, you could try to sell it to someone else. But no one will buy it. The value is connected to the issuer of the token, and if that issuer changes the terms (voluntarily, or involuntarily by going out of business) they can debase the value of the token and even make it worthless. In the case of the NFT, the token may exist on an immutable blockchain, but its value is still determined by a centralized organization.Finally, on page 174 they say, “$100 per year per fan sounds like a large number at first, but that’s really just $8 to $9 per month—roughly the same price as a Netflix subscription, or what you might pay in a couple trips to a favorite coffee shop.” This is embarrassingly wrong. The $100 they refer to is a profit number. When they talk about customers paying $8-9 per month, that is revenue. They are conflating top-line revenue with bottom-line profit.In short, the authors failed to showcase the potential of this technology. I did learn something from this book, so I can’t give it just one star. But I do recommend finding something else to read on the subject.

  7. Just finished ‘The Everything Token’ and wow, as someone deeply immersed in the web3 and NFT space, this book hits the nail on the head. The author has a real knack for taking what can often feel like a complex, almost alien world of blockchain and tokenization, and breaking it down into something you can not only understand but get genuinely excited about.Each chapter feels like a new revelation. You start with the basics – what tokens are, how blockchain works – and before you know it, you’re seeing the massive potential of this tech in everything from finance to art. What I love most is how the book doesn’t just stay on the surface. It delves into smart contracts, the democratization of finance, and the future of digital assets, all while maintaining clarity and engagement.As someone who’s been holding and trading NFTs and dabbling in cryptocurrencies, I found myself nodding along and even having a few ‘aha’ moments. The discussion around tokenizing real-world assets? Mind-blowing. And the way it ties into AI and cloud technology, which is my professional playground, is just icing on the cake.‘The Everything Token’ is a must-read if you’re even remotely curious about where our digital world is heading. It’s not just informative; it’s a roadmap to understanding and participating in one of the most exciting technological revolutions of our time.

  8. Come la maggiorparte di questi libri di autori americani, i concetti espressi possono semplicemente essere espressi in un articolo di 4-5 pagine ma in questo modo, lo stesso concetto viene ripetuto per 200 pagine giusto per farne un libro. Interessanti le prime 20 pagine, poi sempre lo stesso concetto ripetuto con parole differenti.

  9. In the ever-evolving world of digital technology, ‘The Everything Token’ emerges as a beacon of clarity and insight. This book is not just a read; it’s an enlightening journey through the complex landscapes of Web3 and NFTs. The authors do a remarkable job of demystifying these often-intimidating topics, making them accessible to everyone from tech enthusiasts to curious beginners.What sets ‘The Everything Token’ apart is its friendly and approachable tone. The authors speak to you like old friends, guiding you with ease through intricate concepts without overwhelming jargon. It’s akin to having a conversation over coffee with experts who genuinely wants to share their knowledge and excitement about the potential of these technologies.Each chapter unfolds like a story, with real-world examples and engaging anecdotes that bring to life the practical applications of Web3 and NFTs. Whether it’s explaining how blockchain can revolutionize everyday transactions or the transformative power of NFTs in the art world, the book connects complex ideas to familiar experiences, making the learning both enjoyable and memorable.The authors also address the common misconceptions and challenges associated with these technologies, providing a balanced view that adds to the book’s credibility. It’s refreshing to see a book that not only educates but also inspires. ‘The Everything Token’ empowers readers to envision the possibilities of a digital future shaped by Web3 and NFTs, while also grounding them in the practicalities and realities of this new landscape.In conclusion, ‘The Everything Token’ is a must-read for anyone looking to get a firm grasp on Web3 and NFTs. The book is a delightful blend of informative and engaging, a rare find in the tech literature space. It’s a journey that leaves you more knowledgeable, and importantly, more excited about the potential of these groundbreaking technologies.

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