@WestCoastWalka@JWeb777@foundersdao What's your thesis on this @WestCoastWalka ? I am tempted to load up at these levels, but just not sure what the catalyst will be to really kickstart prices down the line. Love PV, but down a scary amount
I mentioned yesterday that most people would benefit from narrowing their focus in the NFT market.
This is advice that I'm following as well as I'm currently focusing on the following:
- BAKC
- GCG
- Bored & Dangerous
- Renga Black Box
What are you honing in on?
@chriswahl73@renegademasterr It's a scary time to have heavy PV bags, but if the game truly delivers and gives the many assets genuinely compelling roles to play, they could yet pull it off
. @pixelvault_ is a classic example of what happens when you oversupply NFT’s.
They currently have 343,910 NFT’s in their ecosystem. That’s more than @yugalabs entire umbrella.
As a result, prices are at dumpster levels and most investors are understandably frustrated.
@MThasleem@moonbirds@goblintownwtf Utility and doxxed team. Kevin Rose tattooed the Moonbirds logo on his body = committed to building the project long term. GoblinTown has no road map.
Can someone explain to me how did @moonbirds went from minting to 20 eth in less than 10 days and project like @goblintownwtf who is so creative and executing so well taking time to reach 20 eth? Though it’s inevitable but only want to understand the time it’s taking.
@mickyd_eth@todayodious Will this be a multi- resource NFT? ie an addition to the existing PVFD NFT, or a separate one?
Would be cool if we could make it non-dilutive.
@punk6529 I try to think of NFTs in terms of 'leveraged ETH.' If you accept that ETH will trend up in USD terms over time, you need only acquire NFTs that will trend up in ETH terms over time.
For NFTs on Alt L1's, this thesis could be much more shaky....
In other words, I live my IRL expenses in fiat and have one 'fiat balance' for my life and a completely separate crypto balance that I think of in BTC and ETH denominated terms*
* My theory being that cross cycles BTC/ETH will be fine.
I don't know about the rest of the market, but I still mostly mentally denominate NFTs in ETH.
I am aware of the USD price of course, but given I also want to be long ETH, NFTs live mostly in the crypto-denominated part of my brain.
I almost exclusively follow traders on CT that nailed the bottoms, dumps, peaks and tops of the last bull run.
Every single one...Without fail was savagely harassed and mocked when they called the tops and bottoms.
@econoar The price in ETH yeah. Obviously that price in USD terms is completely dependent on the price of ETH though, which is what most people actually mean...
@Gfunkera86 First they came for pudgy penguins & I did not speak out—
Because I didn’t have any pengus
Then they came for the trade mfers & I did not speak out—
Because I did not have any mfers
Then they came for my PV bag— & there was no one left to speak for me
- M. Niemöller
Greatest opportunity of #Web3?
Part-ownership through NFTs.
Instead of consumption, the success of the project can directly benefit the community.
You're more than a fan, you're really a part of the project 🙌
@Trader_XO Uniswap has plans to launch on MoonBeam soon too. All set to be the top L1 one on PolkaDot and the biggest interoperability play between DOT and ETH. Derk Yoo and the team are 💪
$GLMR so Arrington capital & moonbeam launched a $100mm ecosystem fund.
I hold 0 moonbeam.
Lets see where prices are over the coming months along with token distribution emissions - hopefully lower.
It’s an alt that I’m anticipating will have a decent run next cycle.
@renegademasterr Yeah this is the key. When you have insane, outsized demand, the airdrop model is incredible. When you don't, it's just dilution that craters the floor price of everything.
I’m not against the airdrop / ponzi model. In fact I love it. I just think the majority of projects using this model won’t have the demand necessary for success. I see so many projects fizzling out over the next 12 months from a lack of funding / attention. It’s gonna be ugly.
The majority of NFT’s that rely on ponzinomics will crash and burn over time. Hype, fomo and airdrops can’t last forever.
When all is said and done, art and history will prevail. We’re still at page 1 of a 100+ page book. Have fun and choose wisely. 🤝