⚓️ NFTs.com sells for $15 mill
I’m prepped and ready for my first NFT event this weekend. I have some stickers of my Cool Cat so that people can *pretend* to know who I am.
I’m nervous about how it will all go down though. do I just need to have my phone out and Twitter out the whole time so I know who I’m talking to too?
I should have just kept sitting in front of my computer at home talking to y’all. that would have been much easier and less anxiety-inducing.
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I have some boomer news for you today…and that is NFTs.com sold for $15 million.
remember .com’s? me either at this point. it seems that in this space, websites are using a lot of .xyz, .io, and .org (LooksRare, again I ask, why?) TLDs.
but per the DomainnameWire, the NFTs.com domain sale is the second largest to date and that seems noteworthy (even crazier when you consider that NFT.com sold for just $2 million just last year).
what are the buyers going to do with the domain? who knows…but it’s a good sign for us. you don’t buy this domain at this price if you don’t know how to make *more* than $15 million from it in 10 years (so I’m guessing it’ll be a media company).
at the very least this sale kinda proves what I have thought for a few weeks now: this bear market is just a bump in the road.
that’s because there are still big money investors and people like us who still are thinking *long-term* when it comes to NFTs. whether they like it or not, NFTs (both the name and the idea) are here to stay.*
*he said to himself as he rocked back and forth in the fetal position in the corner of the room
I wrote about sell shaming for an evergreen Friday 2 weeks ago.
and as the market continues to tank, even whales are looking for liquidity just like the rest of us.
unlike us though, when a whale lists an NFT, it’s a newsworthy event. their listings cause panic! at the Discord (the name of my soon-to-be music NFT cover band). that’s because many view it as a sign that the project is either 1) failing or 2) the whale is frontrunning insider information.
this puts the whale in the community's crosshairs and contributes to an overall toxic environment - from the founders on down.
it’s a slightly unfixable problem though…unless every time they list an NFT, they also report their feelings and reasoning to the community. obviously, that is not reasonable or scalable (though I do think it would be fun to hear).
that being said, I do think it’s a conversation that will only become louder as more money and influence enter the space (wishful thinking, I know). if Elon Musk can move an entire crypto market by putting some on a balance sheet or talking about it on SNL, just imagine what could happen if he bought NFTs and then listed them all on the floor…
I welcome that endless content for my newsletter’s sake.
Starbucks’ revamped rewards program will include NFTs and is set to launch by the end of 2022. this is particularly exciting…only because of NFT Twitter’s dependence on caffeine. with this move, Starbucks likely will cement its status as the official coffee brand of degens and the metaverse.
I’m continuing to binge content to plug in this newsletter, and I was surprised I had never given a listen to the STOLEN podcast with IamChasm (I’m old enough to remember when it was the MetaverseOnRamp podcast). I just listened to his podcast with Betty, the cofounder of Deadfellaz. it’s interesting to hear from artists when it was a bear market as opposed to now. oh, the good ol’ days…