Updated: Jan 14
Most of the world's developmental research grants and funds are generated through taxpayers' funds which are then distributed by governments to national organisations and institutions. Unwired India's underlying R&D wing- 'Project Perceptron' is now partnering with De-Fi & Fintech organisations to curate novel channels for funding R&D and applied tech in a sustainable decentralized manner without the support of national or independent institution based backing. This process shall help establish a link between virtual cryptocurrency-driven investments and real-world STEM R&D. The NeuroNFT Project shall enable research organisations to leverage virtual capital and digital currency in sustainable real-life oriented applications, whilst also aiding DeFi communities to observe the global impact of their investments, particularly how digital tokens can be translated into real-world applications and impact within the evolving neurotech sphere.
NFTs, at their most basic, is a way to transform something digital, which can be intensively copied, into something unique. Every nonfungible token, from a clip of Michael Jordan dunking to a picture of a NYT article sold for over half a million dollars, is essentially reinforced by a unit of unique digitized code that marks authenticity and ownership over that prospective digital commodity. Now what do NFTs share with Bitcoin? Blockchain. Where does that come into the equation exactly? The code is stored on a digital ledger, also called blockchain. So a clip of Michael Jordan dunking can now be uniquely owned by a bit of code that is distinctive and cannot be copied, creating scarcity. And as we know, Economists love scarcity because it makes the most boring things interesting.
When someone buys an NFT, they aren't really buying a commodity that other cannot access, like a gold bar for example. They are buying into the knowledge of owning the official authenticated version of that commodity. Now there are those who hail it as being the new revolutionary invention which will revamp the digital landscape as we know it, while others claim it to be a failed model that is supported by nothing but hype. Not even blockchain can fix that, only flextape. That's a lot of damage.
But the truth lies somewhere in between. NFTs provide a unique opportunity to individual producers, say artists, to effectively create scarcity and unique ownership of digital art. Until now, you could own a Mona Lisa and nobody else could do anything about it but everyone could screenshot that pixelated comic on your iphone. Well now with NFTs, if they do, then they own nothing but an inauthentic, pirated version of the original. This dramatically changes the economic rationale and processes behind the phenomena, while creating massive new manipulative opportunities for firms.
NFTs can provide a loophole (virtually magic) by making their work valuable by creating scarcity. This scarcity created, drives up sales and money spent by bidders for laying claim to the authentic version, leading to greater profits and a potential secondary trading market for NFTs. This could even lead to a future where payments could be made via NFTs like digital bartering of stocks or shares for buying something else. This opens entire hosts of new avenues for trading these NFTs while also using them as investments that could rise in value, especially with NFTs from such an early time in the industry's inception, like right now. That means these Veblen goods also double up as investments, just like Gold or Silver. This is being verified with every day that passes since 2017 because NFTs created then, when the concept was just coming into existence, are inflating in value now, because they signify something beyond their intrinsic digital value just like Dorsey' first tweet on Twitter or the first website on the Arpanet does. They are the earliest evidence of a phenomenon which grows beyond proportions later on. They are a fossil of the earliest origins of NFTs, Twitter and The Internet respectively, making them infinitely more valuable as those phenomena continue to prosper. And guess which NFTs from 2017 I've been subliminally hinting towards. The cyberpunk men and women in negative 40 megapixels. I guess it all comes full circle.
Unwired India is on a mission to create De-STEM ecosystems through Neurotech NFTs & digital assets
Unwired India shall release its first NFT drop through Project Perceptron in Neuro-November, 2022 to celebrate the life and legacy of the diverse communities in STEM & Arts (Celebrating Global BIPOC/LGBTQIA+/Women & Indigenous communities). Through the NFT launch, we shall move one step forward towards launching the World's First Custom Neurotech Coin, allowing users to directly invest in collaborative STEM R&D and gain premium membership rewards. Creating decentralized STEM ecosystems could accelerate green-tech and deep-tech R&D, as the generated funds could be further be employed to develop novel medical therapeutics and net zero carbon systemic efficiencies and technologies.
The global possibilities of this project are endless; as the development of this ecosystem could catalyze the Decentralized STEM revolution and catapult the rise of new channels for De-STEM, helping bridge the chasm between digital currencies, assets and real-world utility.
We share this collective vision of using DeFi to transform the world and its superjacent facets with one of our industry partners- Aunua Global, that already has well-established avenues for enhancing, uplifting and impacting lives. This small step could be a giant leap in the future of healthcare innovation & R&D wherein our minted assets and coins could fund & support independent researchers and organisations, with an aim to increase visibility and opportunity of diverse underrepresented communities in STEM. Driven by the values of equitable education & inclusion, the project shall further be integrated with The Brainbow Alliance to nudge global impact.
The naysayers deny this industry's potential and label it as a balloon in the market but as I mentioned, it is likely only half true. The economics of this tech will take time to arise and establish. Years later people will look back at this article with the same retrospection that we encounter, realising YouTube was originally created as a video based Dating Website but came to be established as a business model for something completely unfathomable. So yes, this technology is new and prospective, and yes, its potential will be offset by the time it fully arises into an adult version of the infant it is, as of now. But for once in my life, I think I personally feel safe labelling it as a safe bet to take, a safe market to invest in, at such an early stage. Apparently I don't seem to be alone. And apparently that Jack Dorsey tweet of that Jordan dunking clip may make you a lot of money one day in 2099. But ultimately, with all my heart I can only reach the conclusion.......could y'all seriously not have designed that Cyberpunk with some more megapixels? Are you sure about that? Come on lads?
NOTE TO THE READER: Unfortunately and heavily ironically, the visual choice for the article's cover image was heavily constrained due to copyright. Thus, no image of any NFT mentioned could be displayed, to ensure legal and ethical integrity of the article and blog and the authenticity and copyright extent of the NFTs in question.
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