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Collective NFT experiences with Tessera ๐ŸชŸ

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Collective NFT experiences with Tessera ๐ŸชŸ

New ways to own NFTs together!

William M. Peaster
Dec 6, 2022
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Collective NFT experiences with Tessera ๐ŸชŸ

metaversal.banklesshq.com

Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles


Dear Bankless Nation,

Sometimes exploring around NFTs can feel like a solo mission in a strange new world.ย 

What we need is better tools to collectively own and govern the internetโ€™s new class of digital collectibles.ย 

One project thatโ€™s working on precisely such resources? Tessera.

This week Tessera launched a trio of interesting products that are aimed at streamlining collective NFT experiences in new ways. Letโ€™s get you up to speed on what these rollouts are all about!

-WMP


๐Ÿ™ Sponsor:ย Uniswap Labs โ€” Better Prices, More Listings: NFTs on Uniswapโœจ


Collective NFT ownership with Tessera

Twitter avatar for @tessera
TESSERA @tessera
๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰NOW๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰ Tessera.co is officially live! Join us in owning NFTs, together ๐Ÿ’š๐Ÿ’œ To celebrate, youโ€™re invited to the auction for collective ownership of CryptoPunk #4847. Meet us at 12pm ET TODAY for the start of the first auction. Details ๐Ÿ‘‡๐Ÿงต (1/7)
Image
4:44 PM โˆ™ Dec 6, 2022
93Likes31Retweets

The tl;dr โ“

Tessera just introduced the new tessera.co website, Tessera Marketplace, and Tessera Protocol. This trio of products marks Tesseraโ€™s official debut in the NFT ecosystem after the team rebranded from Fractional, the projectโ€™s 1.0 system, in August 2022.ย 


The context ๐Ÿ“ฑ

In recent days, the Tessera team has been paving the way for its official launch by publishing explainers for some of the 2.0 mechanisms of the new Tessera Protocol.ย 

Twitter avatar for @tessera
TESSERA @tessera
Ready for a sneak peak for whatโ€™s to come? Over the next few days weโ€™ll be talking all about the mechanisms coming Soonโ„ข to Tessera. But first, letโ€™s start with the basics: Vaults and Raes ๐Ÿงต๐Ÿ‘‡ (1/9)
Image
4:34 PM โˆ™ Nov 30, 2022
66Likes22Retweets

These new mechanisms have included:ย 

  • ๐Ÿ›๏ธ Vaults โ€” a non-custodial smart contract wallet that can lockup an NFT or NFTs for collective ownership, the creation of which kickoff auctions for โ€œRaesโ€

  • ๐ŸŒŸ Raes โ€” ERC1155 NFTs that represent governance and ownership over a vaulted NFT or NFTs

  • ๐Ÿ›’ Last Price Dutch Auctions โ€” โ€œLPDAsโ€ are currently the main way to distribute Raes on Tessera, a Dutch Auction-style system with decreasing prices similar to Tyler Hobbsโ€™s QQL sale

  • ๐Ÿ’ฐ Optimistic Buyouts โ€” a new way to offer to buy vaulted NFTs that emphasizes fair price discovery

Example of Tesseraโ€™s new auction system

How it works ๐Ÿงฑ

If you want to take a peek at the new Tessera rollouts, head to tessera.co and sign in with your Ethereum wallet. The homepage will feature the projectโ€™s curated NFT Vaults, the first of which is for CryptoPunk #4847.ย 

CryptoPunk #4847 is now collectively owned

While the initial auction for Punk #4847โ€™s 1,000 Raes are over, the zero-fee Tessera Marketplace is now live and makes it possible to buy or sell these Raes, and future sold-out releases, via secondary sales. Punk #4847โ€™s Raes were trading around 0.09ฮž each at the time of this postโ€™s writing.ย 

To buy or sell Raes, youโ€™d simply head to your Vault page of choice and select either from the โ€œBuy Raesโ€ or โ€œList Your Raesโ€ options. You can also click on the โ€œSecondary Marketplaceโ€ tab to review above-floor Rae listings.ย 

Alternatively, if youโ€™re interested in vaulting one of your NFTs, the Tessera team is curating interesting opportunities via submission form right now, so feel free to contact them if you think you have a good fit.ย 

Example of secondary Tessera Marketplace listings

Why it matters ๐Ÿซ‚

Tesseraโ€™s mission is to make โ€œowning cool stuff on the internet with other peopleโ€ easier than ever.ย 

Of course, the web3 collective ownership sector is early and wide open, but with releases Tessera is advancing how groups, and not just individuals, can come together on-chain with new sorts of NFT tools.ย 

People often joke that crypto is โ€œPVP,โ€ a reference to the cutthroat gaming notion of players versus players. As projects like Tessera and its tool continue to gain steam, I think weโ€™ll see a growing emphasis on squadding up and working together through NFTs in contrast.ย 


What to watch ๐Ÿ‘€

Going forward, the Tessera team plans to continue curating โ€œculturally significant and historic pieces of internet historyโ€ for its new Vaults system. That means be on the lookout for new Raes secondary marketplaces to keep popping up around notable NFTs.ย 

Additionally, look for other NFT projects to start plugging into Tesseraโ€™s open infra. For example, Tessera co-founder Andy Chorlian just teased that Uniswapโ€™s NFT aggregator system is poised to plug into Tessera Marketplace soon.

Wen Tessera on Uniswap???

Action steps

  • ๐ŸชŸ Check out the newest Tessera releases

  • ๐ŸŽ„Read my latest Bankless Holiday Crypto Gift Guide if you havenโ€™t yet!


Author Bio

William M. Peaster is a professional writer and creator of Metaversalโ€”a Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. Heโ€™s also recently been contributing content to Bankless, JPG, and beyond!


Subscribe toย Bankless. $22 per mo. Includesย archive access,ย Inner Circleย &ย Badge.


๐Ÿ™Thanks to our sponsor

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Not financial or tax advice.ย This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.


Disclosure.ย From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See ourย investment disclosures here.

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Collective NFT experiences with Tessera ๐ŸชŸ

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2 Comments
Johann Baptist Strauss
Dec 7, 2022

Tessera well done, don't stand still

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Thegolf
Dec 7, 2022

เธชเธธเธ”เธขเธญเธกเน€เธขเธตเน‰เธขเธกเธกเธฒเธ—เธตเนˆเธชเธธเธ”เธ„เธฃเธฑเธšเธœเธก

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