BTC Fiend ⚡ on Nostr: No, Badges Are Not NFTs. Here's what they could potentially be used for - Badges are ...
No, Badges Are Not NFTs. Here's what they could potentially be used for
- Badges are not NFTs
- 1) they're not tokens on a blockchain
- 2) currently they cannot be transferred from user to user (only from issuer to user)
* - IF badges ever gain an ability to become transferable, you can probably expect degen markets similar to NFTs pop-up but for now this currently isn't the case
- Can issuers sell badges? Yes but I'd recommend only buying one if the issuer is providing real value in having the opportunity to own this badge.
- 3) there is no set limit or cap to how many badges can be created by an issuer. If you're told you're buying a 1/1 badge, you still have to trust that the issuer wont decide to issue more badges at a later date.
- What are some of the use cases of Badges?
- 1) Simple badge of honor (identifies you as part of a specific group of people or can act as an individual reward if the badge is chose to be issued 1/1 by the issuer)
- There doesn't need to be a monetary figure attached to something for someone to value it so people can simply enjoy badges even if they understand there isn't a way for them to be able to monetize it.
- Badges are able to be proudly displayed on user profiles for a few Nostr clients already.
- 2) Entry 'Pass Keys' to private chats, message boards, subscriptions, exclusive content, etc...
- Private Chat board moderators can issue badges to Nostr users in the same manner as an account login. Thus badges can be used to unlock access into any nostr client that wishes to build a walled garden of focused content & communication.
- This can apply to all kinds of message boards built around, for example, specific musicians, sports teams, politics, jobs, technology, private torrent trackers, etc...
- Content creators can use and issue badges to paid subscribers in order to unlock access to exclusive content they're offering such as say a weekly substack blog or a fan club that offers exclusive merch, discounts, AMAs, 'behind the scenes looks', music, market insight, etc...
- Adding a feature for a Nostr user to be able to request a badge seems like a likely future feature that will be added to frictionlessly connect users to the access & content that they seek.
- 3) Badges can be used as an identifier to be able to connect to other 'like minded Nostr users'
- For example, say I'm a fan of the band 'The Misfits' and I'm also a fan of Bitcoin, I can utilize the 'Bitcoin Fiend Club' badge to search for other Nostr users who own that badge so that I can follow them through Nostr.
tl;dr - no badges aren't NFTs, yes there are utilities that can be created around badges, I've explained a few & many more likely exist that many of us haven't even thought of yet.
Happy building!
BTC Fiend
- Badges are not NFTs
- 1) they're not tokens on a blockchain
- 2) currently they cannot be transferred from user to user (only from issuer to user)
* - IF badges ever gain an ability to become transferable, you can probably expect degen markets similar to NFTs pop-up but for now this currently isn't the case
- Can issuers sell badges? Yes but I'd recommend only buying one if the issuer is providing real value in having the opportunity to own this badge.
- 3) there is no set limit or cap to how many badges can be created by an issuer. If you're told you're buying a 1/1 badge, you still have to trust that the issuer wont decide to issue more badges at a later date.
- What are some of the use cases of Badges?
- 1) Simple badge of honor (identifies you as part of a specific group of people or can act as an individual reward if the badge is chose to be issued 1/1 by the issuer)
- There doesn't need to be a monetary figure attached to something for someone to value it so people can simply enjoy badges even if they understand there isn't a way for them to be able to monetize it.
- Badges are able to be proudly displayed on user profiles for a few Nostr clients already.
- 2) Entry 'Pass Keys' to private chats, message boards, subscriptions, exclusive content, etc...
- Private Chat board moderators can issue badges to Nostr users in the same manner as an account login. Thus badges can be used to unlock access into any nostr client that wishes to build a walled garden of focused content & communication.
- This can apply to all kinds of message boards built around, for example, specific musicians, sports teams, politics, jobs, technology, private torrent trackers, etc...
- Content creators can use and issue badges to paid subscribers in order to unlock access to exclusive content they're offering such as say a weekly substack blog or a fan club that offers exclusive merch, discounts, AMAs, 'behind the scenes looks', music, market insight, etc...
- Adding a feature for a Nostr user to be able to request a badge seems like a likely future feature that will be added to frictionlessly connect users to the access & content that they seek.
- 3) Badges can be used as an identifier to be able to connect to other 'like minded Nostr users'
- For example, say I'm a fan of the band 'The Misfits' and I'm also a fan of Bitcoin, I can utilize the 'Bitcoin Fiend Club' badge to search for other Nostr users who own that badge so that I can follow them through Nostr.
tl;dr - no badges aren't NFTs, yes there are utilities that can be created around badges, I've explained a few & many more likely exist that many of us haven't even thought of yet.
Happy building!
BTC Fiend