A short thread on #NFT

1) There is no such thing as a blue chip NFT.

There are successful projects and less successful ones and there are downright scams.

The metrics for measuring success are far more nuanced than the floor price. But most of that is invisible.

2) If a founder ducks you then beware

I'm in a privileged position. I get to talk to opinion leaders like @AndrewYang or @yoniassia

I got there by being good at what I do. And I don't pander. We've invited founders of all the blue chip NFT projects to come talk. Most duck

2) cont.

In rare cases the timing is sensitive (@RTFKTstudios and @BoredApeYC both qualify here) but @doodles @AzukiOfficial are notable example of ducking. Not suggesting they are not robust projects but doesn't give me confidence

3) None of us are investors

(well some are) A handful of VC's and notables led by a16z invested in #BAYC. Those are investors.

The rest of us are speculators. You can tell because you trade narratives not financials

4) Beware the Hero with the Deep Pockets and the Loud Voice

Newly minted fortunates often believe themselves worthy of a platform to vocalise and 'inform'. Stack size proof of commitment. These are not your friends. They will quickly turn on you and your community.

5) You are not an expert

Nobody is an expert in this space. We are all blind animals groping around wildly attempting to make sense of chaos.

I am not an expert. You are not an expert.

6) Refine your criteria

Some call this an investment thesis but none of us are investors so blooey.

Crystallise appetite for risk by creating best case scenarios for how you take the plunge.

7) My Criteria

a) Artist led
b) Have spoken to founder
c) Proven track record of execution
d) Doesn't have THAT smell (you know the one)

8) Some projects (not exhaustive) that meet this (for me)

a) @CyberBrokers_
b) @AkuDreams
c) @flufworld
d) @muratpak
e) @RTFKTstudios

There are plenty of others I enjoy. These are the ones that get me excited to see where they're going.

@yugalabs is the major exception

9) Quality matters

If a team cares about the details that matters a lot to me. Maybe it's spelling, maybe it's art, maybe it's attention to community, maybe it's in the code. Details are the hallmark of quality.

10) Forks are quintessential law of diminishing returns

It's quite possible that we're witnessing the birth of the #ethereum of #NFTs right now.

#bayc #FLUFWORLD #akuverse

Reading is free, discords are full of frens. Go learn, go ask questions and stop acting like an investor

11) Price is a timeline

But it's not the only one.

An #nft can support many different timelines all of which can be crafted to generate value. Won't always be financial value but the extremely narrow iteration of muh nft we see now is so basic it's pure Anna Delvey. IYKYK