Collective NFT experiences with Tessera ๐ช
Collective NFT experiences with Tessera ๐ช
New ways to own NFTs together!
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 internetโs new class of digital collectibles.ย
One project thatโs 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. Letโs get you up to speed on what these rollouts are all about!
-WMP
๐ Sponsor:ย Uniswap Labs โ Better Prices, More Listings: NFTs on Uniswapโจ
Collective NFT ownership with Tessera
The tl;dr โ
Tessera just introduced the new tessera.co website, Tessera Marketplace, and Tessera Protocol. This trio of products marks Tesseraโs official debut in the NFT ecosystem after the team rebranded from Fractional, the projectโs 1.0 system, in August 2022.ย
The context ๐ฑ
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
These new mechanisms have included:ย
๐๏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 โRaesโ
๐ Raes โ ERC1155 NFTs that represent governance and ownership over a vaulted NFT or NFTs
๐ Last Price Dutch Auctions โ โLPDAsโ are currently the main way to distribute Raes on Tessera, a Dutch Auction-style system with decreasing prices similar to Tyler Hobbsโs QQL sale
๐ฐ Optimistic Buyouts โ a new way to offer to buy vaulted NFTs that emphasizes fair price discovery
How it works ๐งฑ
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 projectโs curated NFT Vaults, the first of which is for CryptoPunk #4847.ย
While the initial auction for Punk #4847โs 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 #4847โs Raes were trading around 0.09ฮ each at the time of this postโs writing.ย
To buy or sell Raes, youโd simply head to your Vault page of choice and select either from the โBuy Raesโ or โList Your Raesโ options. You can also click on the โSecondary Marketplaceโ tab to review above-floor Rae listings.ย
Alternatively, if youโre 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
Why it matters ๐ซ
Tesseraโs mission is to make โowning 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 โPVP,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 weโll see a growing emphasis on squadding up and working together through NFTs in contrast.ย
What to watch ๐
Going forward, the Tessera team plans to continue curating โculturally 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 Tesseraโs open infra. For example, Tessera co-founder Andy Chorlian just teased that Uniswapโs NFT aggregator system is poised to plug into Tessera Marketplace soon.
Action steps
๐ช Check out the newest Tessera releases
๐Read my latest Bankless Holiday Crypto Gift Guide if you havenโt yet!
Author Bio
William M. Peaster is a professional writer and creator of Metaversalโa Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. Heโs also recently been contributing content to Bankless, JPG, and beyond!
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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.
Tessera well done, don't stand still
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