Everyone in Web3 “Zooms out”. Here’s why you should too

Everyone in Web3 “Zooms out”.  Here’s why you should too

Crypto is in a dive and your NFTs are losing value daily. What will be next? It is clear to see that blockchain’s rough ride is not over, not by a long shot. Although we would like to see a one-size-fits-all solution to allay the fears of those struggling to understand the current state of Web3. The best thing anyone can do right now is to zoom out.

A phrase that has been used far and wide across the NFT space, “zooming out” has become an increasingly ambiguous term, taking on a wider variety of meanings over the years, depending on the context. Some use it to acquire deeper context the price of cryptoothers to inspire one more holistic mindset than their peers, and others still use the term to check these who may have become bitter or arrogant.

Apart from the literal definition, zooming out has a lot of emphasis on the blockchain, as a concept. Somewhat similar to lesser-used crypto-native terms like WAGMI, “zoom-out” seems to have become a rallying cry of sorts for the NFT community, indicating a sense of togetherness and stick-to-itivity. And now, as Web3 continues to prepare in a post-FTX climate, zooming out is starting to make more sense in a time of urgent need.

To zoom out, literally

Traditionally, zooming out refers to crypto price charts. Probably derived from the common crypto saying “when in doubt, zoom out” (which even t-shirts are made of), it is used to encourage traders to expand their crypto chart finders to see the full story of a price index. In this way, to “zoom out” is to understand that over time, regardless of many major setbacks, crypto prices always have an upward trajectory. For example, take the price chart below for ETH.

A chart showing the price of ETH over time
A chart showing the price of ETH over time. Source: CoinGecko

Although the price of ETH in November 2022 is far from where it was the year before, it is still significantly higher than when the currency was first traded in 2015. Ask any seasoned crypto enthusiast and they will be happy to tell you that through the lens of zooming out, no need to worry about crypto dip. Only by zooming out can traders see the long-term vision of crypto and understand that while periods of stagnation are inevitable (like 2018 – 2021), a slow upward is an inevitable consensus.

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What zooming out means for the NFT community

When it comes to crypto price charts, zooming out helps investors feel better about the state of their portfolios. But the NFT community is concerned with much more than the bottom line of profit. Considering the adversity and skepticism the space has continued to experience over the past two years, “zooming” to NFT purists has taken on a much more qualitative meaning.

For artists and collectors alike, zooming out is a practice of humility. This is exemplified by prominence Web3 rapper Spottie WiFiwho said in an interview with nft now that zooming out helps him see the big picture of music NFTs, and reminds him how grateful he is for the accolades he’s collected.

“When I zoom out and look back at the last year or two, I’m very grateful for how far NFT music has come and how just a few indie artists have disrupted the music industry,” said Spottie. “I knew platinum artists, Grammy winners and major labels would eventually enter the Web3 and metaverse after seeing our success, but I thought it would take years, not months. I’m proud to have been on this wave they the last couple of years and is excited about the future.”

This attitude of gratitude is shared by others in the community, with some (like Loopify and Zeneca below) taking on an extra ounce of opinion here and there to illustrate their hopes and perspectives.

Beyond idealistic sentiments, zooming is also considered by some to be a tool for looking into the future. In this way, the expression is used to comment on the general status of the NFT area, and highlight experiences from the past while providing insight into what is to come. As far as multidisciplinary artist Nathaniel Parrott is concerned, this use of ‘zooming out’, as a tool to build a framework for the future, is of utmost importance. In an interview with nft now, Parrott said that zooming out could prove to be a key factor in how the NFT community decides which direction the non-fungible movement will go next.

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“To zoom out, we all have to zoom in, and ask ourselves as stewards of the NFT space what we really want in the end,” Parrott said. – The responsibility now rests on us as individual participants. Where we spend our money, where we spend our time, and where we focus our attention. There is a long road ahead of us. I still predict that the rest of the decade will empower artists like never before, but it’s still treacherous terrain.”

Parrott went on to note that he envisions the larger NFT community diversifying in the near future, decoupling from the popular market sectors and returning to niches such as streetwear, art, collectibles and sports. Considering the speed at which things are changing in the NFT space, it might not come as too much of a surprise for his zoomed-out prediction to come true. But, as reiterated by the feelings of Deadfellaz co-founder Betty and prominent AI collaborative artist Claire SilverWhile zooming out can help us understand the full scope of the blockchain industry, we still need to push for real change if we truly want a more balanced future.

Zoom out, keep your sanity

Regardless of intent, the meaning behind the phrase “zoom out” is immediately understood by both those in the NFT space and within the general sphere of blockchain technology. Even when things go from bad to worse, as highlighted by the recent FTX debacle, hope can be saved with the reminder that things can get better over time. Whether that means crypto prices going up, or NFTs reaching further into mass adoption via new use cases that help make the world a fairer place, zooming out is the first step towards understanding the future potential of blockchain.

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