from Osmocon Video Part 1: 02:15:51 - 02:28:25

@jpatten__

@Treasure_DAO, https://treasure.lol/

tl;dr

Building on his experience with the massively successful Treasure NFT project, marketplace, and community, John is heading up WosmoNFTs for Osmosis. His vision is for Osmosis to use them to create an over-arching identity network for the Cosmos. This identity network, whereby users express themselves online by showing off their status, accomplishments, tastes, and most importantly, their sense of identity and belonging to communities is crucial to making a blockchain or blockchain ecosystem successful. This is the reason Ethereum and Solana have hitherto outperformed Cosmos, despite Cosmos’ better tech.

No longer. WosmoNFTs have an innovative design. Every wallet gets a base Wosmongton. This base can then be customized with accessories based on the history of the wallet. So if you provide liquidity to a certain pool at a certain time, or get a certain airdrop, or do a certain number or type of transactions, stake on different chains, etc. you can earn different accessories. Your WosmoNFT will be your Cosmos identity, and it will allow Cosmos to feel more like a home to users.

Treasure (Arbitrum) - NFTs

-by Jan. (2 months after launch), became second biggest NFT marketplace in the world

-10% of Opensea’s volume with 2 collections: 20 and 6 ETH floors

-token (given away for free) got up to a billion dollar valuation, $300 million in treasury

-Treasure has done $500m in total vol. and bought a AAA game studio to start building games in-house

John wants to re-create the Treasure experience on Osmosis:

Thesis: blockchains need to feel like home in order to grow in a viral way

Current NFT trends: pfp craze - many theses / value props

—Veblen goods thesis: as price goes up, demand goes up bc it’s a status symbol (Punks, Bored Apes)

—community value: people like to belong

—utilitarian value: e.g. Moonbirds

—self-expression: this is who I am, and this picture represents me (or some aspect of me)

Why did this happen on Ethereum, not Solana or Cosmos?

John’s thesis: a single network more easily feels like a home

-most theses for Ethereum winning refer to composability, but Cosmos allows composability

-or moneyness? but ATOM functions like money, too

—what Cosmos lacks is a coherent identity network

-cf. Ethereum ENS (your wallet is you, and therefore your owned NFTs are you)

-Solana now has a competing NFT system, and so does Arbitrum

-if we pitch NFTs as products, there’s no identity network above it

-we need to learn from gamers: they develop/express their identity over time

-accomplishments, affiliations, gear — fullness of expression

-DeFi itself was a video game

—how do we re-create something like this on Cosmos: an identity network that sits on top of all these self-sovereign chains

WosmoNFTs

-each wallet starts with the same basic Wosmongton

-then you can pick your background

-over time, by using Cosmos/Osmosis products, you can earn the ability to customize your Wosmongton

-e.g. if you LP in a certain pool, or get a certain airdrop, you get certain accessories

-this can help keep the community engaged with new events

-as accessories build up, just as on Ethereum people are reluctant to leave, we can recreate that experience

-we’ll build out stats over time: how much the user uses the platform

-this will be the first time that one chain provides an identity network that will organize the rest of the chains

-the Hub vision (in John’s personal opinion, not official Osmosis), is more focused on builders and developers, rather than on a coherent, integrated experience for consumers

-Osmosis will provide this with WosmoNFTs

Questions:

[inaudible]

-One per wallet: the idea is that every user will start with a base Wosmongton, and they’ll decorate it

-this is different than the typical NFT approach where rarity is based on luck, and you sell rarity for more money

-we want to give the base NFT away and let them express themselves by gaining accessories

-and use the accumulation of accessories as a way to organize community narratives

-new tokens coming on-board, or maybe if liquidity reaches a certain level, a new item unlocks, or a new season starts

[inaudible]