gm. typing this from Scottsdale/PHX area this AM! can you believe it? still writing while I’m on vacation is something I thought I’d never do. this is how much I love you all (OK fine, so it’s mostly the NFTs that I love).

ALPHA ⚓️

I’m here in Phoenix for Memorial Day with some normies (aka family). inevitably, a conversation about NFTs will happen this weekend.

(I won’t, for the record, tell them how we’re down bad right now)

I’ve had a few conversations with friends and family about NFTs before and the big question in the normie world seems to be this: why are these dumb things so expensive?

on the whole, a good PFP has become underrated utility. when you spend as much time on Twitter as I do, you have to look good doing it. that isn’t the hard part for a civilian to understand, I think. “avatars” have long been apart of the culture of the internet.

but to an outsider, it’s seems unfathomable that people out there are paying 6-figures for Apes and Punks as their PFPs. this is where they struggle.

we are intimately involved with NFTs. we know their inner workings and see their potential value more than others. explaining the “community” and “utility” benefits is where we fall short in converting the normies.

so what do I tell people to do? buy an NFT, of course. that will be their gateway to understanding better. but what is the right price for them to pay for that PFP? be careful how you answer that one!

BETA ⚓️

I attended and spoke at a community Spaces hosted by The Good Knight about the current state of the Cool Cats. that current state from what I can tell is ‘in shambles’. I won’t get into the details, but will tell you the community is banding together to save this project.

community is a pillar of NFTs. it’s how we convince ourselves that we are more than just gamblers and degens. it’s what makes tokens different than stocks.

but often, we expect the teams to do the heavy lifting for us.

(ultimately, that is how it should be. they are making the bulk of the money from residuals and sales)

however, if we preach about “community” than we must also bear some of the load too. in many cases, we tie our identities to the, and we certainly “invest” our money in them.

sure, it’s easier to sell at a loss, but before you do that consider if the story of the NFT has changed. is the team doing nefarious and shady stuff? has there been news that they are changing things that no longer mesh with your vision of their future? those are all legitimate reasons to sell.

however, if simply the price is going down and the story itself hasn’t changed, then maybe just have to do a little more work from your end and fight a little.

DELTA ⚓️

• I missed talking about it yesterday, but I have to circle back to the Goblintown Spaces. you know the one. they mumbled and grunted for a solid 4 hours and everyone was talking about it (even normies). so much so, their floor went up to 2 ETH. we still don’t know who is behind the project, but I think we can confidently say that they are marketing geniuses at this point.

• keeping it short today so I can get back to the pool! enjoy the long weekend. I’ll be back Tuesday.