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Mark Soares - Tezos NFT ecosystem post Hic Et Nunc "incident"
Episode 649th May 2022 • Floor is Rising • Floor is Rising Podcast
00:00:00 00:34:31

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FIR with Mark Soares

On today’s episode of the ‘Floor Is Rising’, hosts Sabre Tooth (Professional NFT Collector) and Kizu (A Professional Art Critic) talk with guest Mark Soares, CMO/Founder at Blokhaus, a Marketing Agency, associated with the Tezos Blockchain, discusses NFTs and Tezos.

Episode Highlights

  • 01:19 – Mark shares the story of how he became aware of NFTs.
  • 04:40 – Around April, and May 2021, it started taking off in terms of people's realization that there's a carbon footprint to Ethereum.
  • 06:38 - After Hic et Nunc took off In May 2021 they started looking at opportunities with institutions, Art Fairs, and Art Basel.
  • 08:25 – A lot of people don't realize that the teams that work within the Tezos Ecosystem are long time Tezos nerds.
  • 13:00 – It's hard to kill a platform that's decentralized, or that's built in a way that can be redeployed seamlessly.
  • 15:25 – After HEN was rugged, the team were kind of in limbo, trying to determine how, and where we are going to drive traffic to for the artists because they had their work there.
  • 17:30 – People are asking where are the NFT stored? Are you building it? Can I still access it? Those are really important questions to answer, mentions Mark.
  • 19:30 - It's interesting in terms of how different categories of arts receive work and what is being sold.
  • 21:15 – Can we solidify the rules of engagement when you're selling for a use case, and not necessarily selling the work itself.
  • 26:31- It's a big selling point for Tezos as a brand and as an Ecosystem to have all these. All these cool people are creating amazing artwork.
  • 28:25 – Sabre enquires that there's an indie side and then there’s a lot of corporate stuff going on so how does Mark coexist not just now but going into the future?
  • 32:50 – Mark refers to the NFT of a large global brand like Coca-Cola as an example. 

Two Key Points

  • There are three things that make Tezos attractive to do NFTs on and it's important from a positioning standpoint. Number one is little transaction fees, number two is the energy-efficient story, and number three is on-chain governance, which allows you to self-upgrade and evolve.
  • Mark feels that the two camps have to coexist (Corporate and Artist camp) both provide different use cases. The corporate camp is more driven towards utility and it's more of the architecture or the infrastructure of the NFC that's attractive to them as a means of engaging their very large user bases. Then there is the artist’s community which really started the whole NFT movement, and they want to preserve the authenticity and the creativity of the artwork, and many of them don't want to add too much utility or even consider it because they want it to be Art. You have to educate each one or at least engage with each one and solve problems for each one. 

Tweetable Quotes

  • “It's the first true web3 use case ever that actually shows the strength of web3.” - Mark Soares
  • “It goes to show how passionate the artists are on Tezos that they won't let this thing fade away.” - Mark Soares
  • “We're able to accommodate but it actually did create a little bit of chaos for us for a few days.” - Mark Soares
  • “If you build the marketplace like ‘Hic Et Nunc’ was built, you don't have a problem. Other marketplaces might have a problem.” - Mark Soares
  • “Looking at the category of photography, this is a very savvy from a legal standpoint.” - Mark Soares
  • “The majority of artists that were on boarded early to Tezos was by virtue of not having to pay 200$ to an NFT.” - Mark Soares
  • “Tezos can also fork but the beauty of it is that it does not have to, it can do things without forking.” - Mark Soares
  • “Utility is important but I think if you ask the artists’ community, a good chunk of them will say, I don't want utility on my artwork to be the artwork.” - Mark Soares

Resources Mentioned