Genesis: House of Barons
Introduction:
Well, this is how my journey began. I started reading up on NFTs in February 2021, when Gary Vaynerchuk gave a hint about NFTs. What followed is technical curiosity and a chain of events that are no less than a revolution: a new asset class being formed, ownership going where it belongs, organisations being decentralised (DAO), and taking on traditional organisations toe to toe.
Its been 11 months since I got in and 3 years since NFTs have been around,it has been absolute pleasure to study the history of NFT and experience the infrastructure grow, to what it is today. Now it is time we look to the future, AGGREGATION.
“To launch a business means successfully solving problem. Solving problems means listening” — Richard Branson
No sector can grow unless and until its early adopters take the rein and try to aggregate and put in collective efforts to organize the sector for early majority to come in.
“Deeper and stronger the roots, taller would the tree grow”
While we love to see the sector and asset class grow, we as early adopters have to make sure that it does not outgrow itself. What exactly does it mean?
PROBLEM STATEMENT:
There are various pain points that anyone who is in NFT space has to face:
1: Rug pulls.
2: DYOR (but how?)
Everybody says to DYOR ( Do your own research ) but nobody mentions what exactly to be on look out for! What exactly about TEAM, what about COMMUNITY, what about RESPONSIVENESS of team? There is immense lack of proper understanding of dynamics of NFT project and that is what leads to FOMO and eventually poor investments.
3: No one stop solution for new NFT projects
4: Too much volatility and illiquidity.
Fragmentation is what is resposible for 1st to 4th problem (top down in mind map): the foundation problem of the sector and 5th: lack of financial tool for stable investment process is what prevents it from scaling.
We at House of Barons, as a community are going to solve all these problems.
House of Barons:
House of Barons ( HOB ) is a community of Barons who are problem solvers and who believe in contributing to the sector grow by strengthening foundation.
Core:
WHY: Provide value to the community
HOW: Creating a safe haven community to discuss problems and collectively solve them.
WHAT:
1: Create a research tool; a checklist manifesto; a platform that helps people do Quality analysis (DYOR) of an NFT project and make informed decision.
2: Create a database of all resources about ABCs of NFT and web3.0 for someone just entering the NFT space.
3: Creating timely networking events and activities for new projects coming along to help them procure resources and guidance they need.
4: TOKENIZATION: Not a routine token promise project but a platform that allows launching asset backed tokens for tangible and intangible assets. Starting with tokenization of intangible assets, hence planning and creating NFT index fund / REIT type financial tool.
VALUES:
The values which will serve as our compass in making any decision along the way are:
1: Simplicity
2: Patience
3: Innovation
4: Excellence
5: Do more with Less
6: Finesse
7: Iteration
PLAN:
Any good checklist will have 2 important feature: VALIDITY and RELIABILITY.
Validity: How correctly can it evaluate the project.
To maintain this we need need to have covered as many KPIs affecting NFT project as possible, noted down >>> Apply it on a project and see if we can correctly evaluate or not.
RELIABILITY: How many times repetetively can it correctly evaluate.
To maintain reliability, we need to go out and apply this tool to multiple projects and see if the checklist is generic enough to be applied to all NFT projects or not.
This execution plan is not just a team effort but a community effort and this is what we will be focussing on first.
For more, write to us at kevin@houseofbarons.club
check us out @baronsDAO on twitter.