🔓DOXX - In progress
SOURCE: https://cyberscrilla.com/what-is-a-doxxed-nft/
What Is a Doxxed NFT?
While navigating the web3 space you’ve probably noticed that there are many terms you’re unfamiliar with. One of these terms is “being doxxed”, which actually carries a negative connotation. However, when referring to NFTs, being doxxed is a good thing. So what is a doxxed NFT?
A doxxed NFT is one whose creator is publicly identified. Creators choose to dox themselves to show transparency and build trust with their community. Those who choose to dox themselves are willing to put their entire reputation on the line. In the web3 space, being doxxed is considered a good trait.
That being said, let’s dive in and get a better understanding of doxxed NFTs, how the definition of this term has shifted since its earliest usage in the 1990s, and what this reveals about the current state of NFT culture.
What Does it Mean to Be Doxxed?
Dox is an abbreviation of the word “documents”, and in the 1990’s hacker culture, “dropping dox” had the meaning that the personal or private information of an individual was made available to the public without the individual’s consent.
The term “doxxing” is still used in this way in certain subcultures and in the mainstream press. However, in the web3 space, “being doxxed” simply means you are not anonymous.
And unlike the original definition, the term doesn’t necessarily have the same connotation of malintent.
For example, if an NFT project says they are “fully doxxed”, it generally means that the project team members are using their real names and are not hiding behind a shadow of anonymity.
Is Being Doxxed a Good Thing?
A doxxed NFT is considered a good thing. Doxxed teams are transparent about who they are, their past success and failures, as well as their future goals. Choosing to be a doxxed team is beneficial for both creators and consumers of an NFT brand and is one of the initial factors for determining value.
Benefits for Consumers
Being doxxed isn’t only beneficial for the creator, it’s also very much appreciated from a consumer’s standpoint.
Trust: What just so happens to be the most important factor for NFT creators is also the greatest benefit for consumers. You guessed it. Trust. The more transparent the team behind an NFT brand is, the easier it is to trust them as a consumer. Moreover, consumers can easily research creators behind a brand when they are doxxed. This means consumers are more willing to buy whatever a brand might be offering.
Transparency: It wouldn’t be web3 if there wasn’t some level of transparency involved. The more open a brand is regarding its intentions, the better off consumers are. Not only does transparency enable consumers to make better buying decisions, but it also allows them to determine if what they’re buying is exactly what they’re looking for.
Ease of mind: At the end of the day, most consumers are after the ease of mind. They want to feel good about what they’re buying and confident in their decision. Doxxed NFTs can help provide this ease of mind. Knowing exactly what you’re buying, who you’re buying it from, and that what you’re promised is sure to be true is one of the most comforting feelings as a buyer.
Last updated
