Slimnifty

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Punks are a zero maintenance, luxury digital asset that is well positioned to flip apes during the bear run

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Why did I spend $7MM on 104 floor punks? Easy: because I choose wealth. 🧵/1

imagine being into NFTs and not owning any gaming NFTs

@0xngmi basically not the best way to find the right supply dutch auctions are probably technically best, except they might get fomoed hard (aka meebits)

@0xngmi celeb cash grabs with 6 minute drop windows ended in all primary sale buyers (aka flippers) losing money and the seller profiting was unsustainable and now its ‘time capped’ drops are a joke among various other issues

Why are all these NFT projects so focused on selling out? If it sells out it means that the optimal price has not been reached and money is being left at the table. Seems much better to not sell out and burn the remaining NFTs, what am I missing?

if you’re in NFTs this early, you’re gonna be fucking rich

@0xngmi probably, which project would you prefer to buy in? maximising greed ends badly imo, particularly when community is king right now

@slimnifty2 Is that value higher than the value the project can get by investing that money into itself? Lets say someone earns 10k by flipping minted nfts on secondary, you could just take that and pay someone to build stuff for the project. Imo person 2 provides much more value than 1st

@0xngmi sure, but when? you may aswell time cap it instead of having to burn time caps can work well or badly depending on the market - look at nifty gateway

@slimnifty2 You can just burn any nfts that have not been sold

@0xngmi its hard to optimise for revenue. and anyways you're also assuming projects want to maximise the $ they extract. this is also wrong - its valuable to leave money on the table for secondary market for various reasons

@0xngmi if something isn't going to sell out people won't want to buy it. why would they buy it, when they can buy for the mint price at any time?

@0xngmi if*

@0xngmi you are making the wrong assumption that higher supply = higher revenue people buy because of scarcity and fomo. it a project isn’t priced to sell out, neither of these factors will exist

what if your gf realizes her ring cost 4 figs but u own jpegs that cost 6 figs

Now which whale pumped the punks floor?

@cryptopunksbot APE

Punk 2491 has a new bid of 1,050 ETH ($2,370,753.11 USD) placed by 0x28ca88. larvalabs.com/cryptopunks/de… #cryptopunks #ethereum

#NFTs are inevitable

remember kids - just because something is scarce doesn't mean it's valuable