Nothing, the consumer tech firm founded by OnePlus co-founder Carl Pei and known for its aggressive advertising, has announced the launch of Black Dot, a Nothing NFT. Its supporters are suspicious or rather angry.
People have been very interested in the Nothing Phone (1) since it was first shown in June. As a way to thank its community investors, the brand is now releasing an NFT called “Black Dot.” It seems to be part of a more extensive collection called “Dots.” The first release is only for early investors, but the company said that people who preorder the Phone will get airdrops in the future.
Nothing NFT Black Dot is a video clip that features a spinning, transparent cube with a black dot inside that bounces off the walls and makes a clear, metallic sound. The graphic is appealing and complements the earbud and smartphone manufacturer’s simple look – well done. BUT…
Why would Carl Pei announce Nothing NFT?
Nothing, said on Tuesday, July 5, that it will give its community investors non-fungible tokens (NFTs) for free. The NFT is the first step in a plan to work with Polygon, an Ethereum scaling solution, to give mobile users more Web3 access.
Arjun Kalsy, Vice President of Growth at Polygon, said of the partnership with Decrypt, “The largest distribution platform in the world is the mobile phone.” He also said, “Basically, the timing was right that now we can take this technology to the masses.”
By working with Polygon, Nothing hopes to give its users better access to Web3. Even though details haven’t been provided, this will likely include dapps, games, NFT trading, payments, and more.
Where will Nothing NFT be available?
The Nothing Phone (1) is only going to be available in Europe, the Middle East, Asia, and Australia for the time being. Even there are no confirmed plans to launch in the US or Canada, they have said that a wider launch is hoped for in the future. People in the US who want to buy the phones can do so on the secondary market StockX.
Are fans happy about this?
Nothing allows equity crowdfunding investors to redeem collectibles using self-custodial wallets such as MetaMask. After the NFTs are released on July 7, the Opensea marketplace will be open for public sales. It’s unknown how much the bouncing dots cost.
The business, launched in late 2020 and sponsored by Google Ventures, has successfully attracted the attention of tech fans and influencers. Despite the buzz, Nothing’s wireless earphones and impending Android-based phones breathed new life into the increasingly homogeneous consumer electronics landscape.
However, supporters are less enthused and angry with its NFT move. As of Wednesday, the majority of the comments on its Instagram post regarding Black Dot were critical. “You’ve definitely lost the plot,” one user comments. “What a waste of money on something utterly pointless.” “Rather spend the money on improving the phone or other technology,” another responds.
The supporters are correct. Nothing pledges to be different, such as offering transparent earbuds for $99 and smartphones with illuminated light strips, so it is likely to spend much more on custom manufacturing — which is done in south China — and quality control than its competitors with a more pragmatic approach to hardware design.
Is it a new thing, connecting NFTs or Web3 on the smartphone?
The company’s hazy explanation of the NFT initiative is unlikely to persuade opponents. Or maybe I’m just blind.
“We are nothing.” Dots in the immensely unlikely scheme of things. But let these apparently little dots to join. Then something happens. Something new is envisioned. Belief materializes into reality. Community guidelines.”
To be fair, real blockchain firms have combined web3 functionality with smartphone technology. Solana, one of the most popular blockchain networks, made headlines last month when it unveiled its web3-based handset, which seeks to make interfacing with blockchain services on mobile easier (albeit it is currently relatively restricted).
Not all NFTs are motivated by greed.
In principle, the technology is considered a beneficial means to validate one’s participation in a group or admittance to an event, which helps to decrease fraud.
However, adding NFTs weeks before Nothing’s first Phone is scheduled to launch may scare off users who link NFTs with scammy, speculative activity, or elite social groups, considering the excessive prices of certain collectibles before the recent crypto crisis.
Carl Pei, the founder of Nothing, did the right thing in the past with one plus. He targeted the tech enthusiast with great precision. Thus Oneplus was hit, but this time ‘Nothing NFT’ really!
Rather than boasting an animated cube with a hazy artist’s statement, Nothing should think about the path it wants to pursue in web3 — presuming its management is optimistic on the field. If a phone is genuinely crypto-friendly, ensure that the actual user experience meets expectations.