Okay, let's be real. Candidly speaking, though we wanted to, for a long time, the NFT space was an intimidating country club. Ah, the good old days when purchasing a $50 NFT could easily cost you hundreds in gas fees. I do. I even made a meme about it. (It’s not my greatest piece of writing, but the feeling was sincere.) It seemed as though you had to be wealthy in order to even engage. The democratization of NFTs? More like the demonstration of NFTs, am I right?

Gas Fees Gone, Finally Freedom?

For the uninitiated, gas fees are transaction fees that you pay whenever you use the Ethereum blockchain. Imagine it as the toll you would pay to drive on the Ethereum freeway. Except, this time, instead of a couple bucks, it might actually be more than the damn car itself! This shut out many emerging artists and smaller-scale collectors from participating. After all, who wants to pay $80 in transaction fees to mint a piece of digital art that will sell for $20? It was a dumb system, cut and dried.

Wait, friends, don’t abandon hope just yet! These additional side roads and thoroughfares ensure that the pressure on the main Ethereum highway is alleviated. In doing so, they minimize congestion and mitigate gas fee hardships. We’re looking at some up to 99% recalcification though! It’s roughly analogous to going from premium gas to fuel that actually makes your car go in reverse. Well, not water perhaps, but you see what we’re getting at!

Think about the implications. Now, all of the sudden, that would-be digital artist in their parents’ basement can more easily afford to mint their creations without breaking the bank. That collector who's always dreamed of owning a piece of digital art but couldn't justify the expense can finally jump in. The playing field is leveling though.

Will The "OGs" Welcome The Newbies?

Here’s where it gets really interesting, and possibly a bit contentious. Will the original gangster NFT early adopters welcome this wave of new players with open arms? These early adopters used to rake in the moolah in the days of high-fee-fee-violating environment. Or will they perceive it as a watering down of their market?

I can already hear the grumbling: "These newbies don't understand the culture!" "They're going to flood the market with cheap NFTs!" "My precious blue-chip NFTs will lose value!"

Look, I get it. Change can be scary. But progress is inevitable. I mean c’mon, the high gas fees weren’t a feature, it was a barrier. They were doing so by artificially propping up the market because they were excluding a massive segment of potential users. This is not to say that existing NFTs should be devalued, but rather that we need to diversify the market and introduce new talent, perspectives, and ideas. Ultimately, it’s about creating a more colorful, inclusive, and creative NFT ecosystem.

It feels a bit like the wild, wild west, the early days of the internet. Gone are the days when only academics and techies could access these huge troves of data. Imagine if we'd kept it that way! We wouldn't have YouTube, social media, or cat videos (okay, maybe the last one isn't essential, but you get my point).

Micro-NFTs, Macro Opportunities

So what does this new, cheaper, more accessible NFT landscape look like? My hunch is that we’ll start to see a great deal more micro-NFTs – ultra-small digital assets that cost mere pennies or fewer to mint and exchange. Imagine digital stickers, unique avatars, community-based challenges where everybody gets to be a hero.

Now picture those of the same artists producing limited-edition NFTs for a few pennies each. This model allows them to directly engage with their audience and cultivate a fiercely dedicated fandom. Now picture communities being able to easily mint their own NFT-based currencies, greatly encouraging local ownership and engagement. Picture this — blockchain games where each in-game item is cheap enough for players of all economic backgrounds to reasonably obtain.

The possibilities are endless. And that’s what’s so invigorating about this moment. We are now approaching a new creative and technological frontier with NFTs. Creativity and innovation will flourish when they aren’t held back by the financial inequities that often punish bright ideas.

The future of NFTs is not an exclusive elitist club. More importantly, it’s about democratization, accessibility, and empowering creators and collectors everywhere. Here’s to a better-informed, more inclusive future for the NFT world! Since we’re on the subject, let’s mint a new NFT to celebrate our active and engaged community! If you’re one of the Ethereum OGs that’s still a little salty, just remember, sometimes a bigger pie leads to bigger slices for all. Just saying.

  • Micro-NFTs: Affordable digital collectibles for everyone.
  • Community-Driven Projects: NFT-based currencies and ownership models.
  • Blockchain Games: Accessible in-game items and rewards.
  • Fractionalized NFTs: Shared ownership of high-value assets.

The future of NFTs isn't about exclusivity and elitism. It's about democratization, accessibility, and empowering creators and collectors alike. So, let's raise a glass (or, you know, mint a new NFT) to a more inclusive and vibrant future for the NFT space! And to the Ethereum OGs, maybe it's time to consider that a bigger pie means bigger slices for everyone. Just saying.