⚓ where to look?
I’ll cut right to the chase.
liquidity is spread thin right now across a lot of different chains.
and I won’t lie…this is bad for NFTs.
it’s hard to build community and build a project when there is so much distraction. I’m feeling like Dug from Disney’s ‘Up’. every time I try to think long term, it’s…SQUIRREL.
(where the squirrel is the latest memecoin pumping 📈)
so what should we focus on right now if we’re thinking long-term on NFTs? I have a rough list for you:
-Solana Art NFTs
-Bitcoin Ordinals
-ENS domains
-Creating
ALPHA ⚓
Solana NFTs
$WIF and $BOME have made many Solana millionaires over the past few weeks.
and if I’ve learned anything from NFTs, is that this money will come pouring back into the ecosystem - one way or the other.
Pomp wrote last week that we are becoming a gambling nation. I tend to agree.
and it’s like how lottery winners tend to go bankrupt. when you’ve made a lot from memecoins, you will naturally want to MORE from memecoins. it doesn’t just stop with the jackpot.
I know this because it happened to me with NFTs. I roundtripped because the greed got the best of me.
and while I want to be optimistic for these memecoin millions, I know that a portion of their wealth will certainly cycle back into NFTs.
my bet is much like the Ethereum NFT craze, there will soon be a run on “art” in the Solana world too.
when you become too high-minded for PFPs, you eventually start becoming an art snob.
(again, take it from me)
the same will happen on Solana that happened with 6529’s Memes and Artblocks on Ethereum. some giant curator will come along and start selling everyone on the importance of art on the Solana blockchain. how it’s the best long-term play. and degens will pour thousands into.
rinse. repeat.
BETA ⚓
Ordinals
I’ll give you this: Ordinals are fuckin’ expensive.
I don’t have the money have to get even half of one.
I also don’t have the mind to wrap my head around them.
their ecosystem and technology is naturally a bit more complicated than your standard Ethereum NFTs.
but these barriers are what make Ordinals such an interesting play in my mind.
the longer that Bitcoin is the crypto standard and the only one on the horizon that stands to be around a really long time, the more I am intrigued by Ordinals as the ultimate collector’s items.
why wouldn’t someone want to own a piece of history’s greatest financial innovation?
Bitcoin maxis (of which there are many, to be clear) will probably not be able to resist that pitch.
though things like CryptoPunks clearly came first, Ordinals stand to be around longer simply by existing on a more important chain (respectfully).
to be fair, the Ordinals ecosystem seems funky right now. I can’t guarantee that Bitcoin Puppets and NodeMonkes can keep this kind of momentum. if they can, and Bitcoin can continue its meteoric rise in the culture though?
that’s a lot of dough to be had.
GAMMA ⚓
ENS domains
when did we start hating ENS?
10K Club is seemingly dead and no one trusts the DAO anymore.
from the sidelines, this doesn’t make much sense to me…I’m not going to lie.
normies got a taste of ENS when they announced their partnership with GoDaddy last month. there’s buzz around an ENS L2 that will make transactions easier and cheaper.
yet now we’re jumping ship?
I get it…ENS screwed up royally when people were dumping massive amounts into the grails, the 3-digit domains and the 10K club. I just renewed a 3-letter domain and it nearly set my family back an entire generation.
but let’s not forget that they launched $ENS smoothly and efficiently before airdrops were cool. ENS has largely been a blue chip NFT because it also hits all the benchmarks of a strong project - it’s historical, has strong community, and has utility.
in these markets, you could do a lot worse than an ENS investment imo.
DELTA ⚓
Creating…
of course, if taking your hard-earned crypto to the NFT casino isn’t your style, I completely get it.
it’s exhausting keeping up with all this stuff on a daily basis, which is largely why I’ve punted on being an NFT “news” channel.
instead, it’s time to put my head down and get to work.
I’ve been promoting my book and looking at ways I can get it into the right hands. I want to help people get educated about NFTs (again) and want to make sure they do so safely. I don’t have time for the latest meta anymore.
I’m building, bro.
if we, like these NFTs, stand any chance of being around for a long time, we have to take it slow and focus.
creating a life and forming your own personal NFT journey is all that you really need to do right now. NFTs are due for their time in the sun one day again. I don’t know when that will be, but don’t feel like you need to go all in right now with whatever is in vogue.
just relax.