a blog about the NFT space
Ok, so the infamous crypto crash is old news at this point, having occurred weeks ago. There is much more in-depth analysis out there than I am going to give right now, such as this Coin Bureau video. I recommend Coin Bureau to anyone curious enough to actually take the time to listen and learn about crypto world - Guy provides daily in-depth coverage of the space in everything from video content on Youtube to weekly newsletters. Anyway, suffice it to say that there seem to be some different factors affecting the crypto crash, including some of the same ones affecting the overall market crash globally and in the States. At least we know that it isn't just crypto, but that it's tied to an overall greater economic trend in the world right now.
As it all pertains to NFTs, nothing has changed in my opinion about them or my approach to ownership. I may be different than some, because I don't actively buy, trade, and sell NFTs, therefore I didn't have a position that caused me to lose lot of money I was counting on when NFT value largely tanked along with the crypto market recently. I am a hodler, meaning I hold my NFTs. I have selectively purchased ones I believe will be valuable in the long term, in 20, 30, or 40 years from now, including World of Women & VeeFriends. Could I be wrong? Of course. I don't think that I will be, but I could be, and that is actually part of the fun of investing in NFTs for me, it's a gamble to a degree, even if you have a more conservative approach to the market, as I do.
My position is this: I bet on the jockey. This is what I've been doing from day 1 in NFTs, and it's what I continue to do. For example, I believe in Gary Vaynerchuk, just as I do the World of Women team. These are real, doxxed people (all of whom I've met) who are actively building these projects with transparency. Gary has an amazing track record of executing as an entrepreneur, businessman and investor, and the World of Women team is one of the best in the young space, having already brought much value to holders while showing longterm vision. I'm in it for the longterm, and it isn't only about the money. It's about being a part of something positive, something new and exciting, and something transformative.
VaynerNFT ABCs of NFTs
Shoutout to VaynerNFT for dropping this great ABCs of NFTs guide with Reddit earlier this week. It's an excellent, attractively-designed guide that speaks in understandable language about NFTs, bringing data and research into the picture, as well as insight. It's a useful guide for everyday consumers, but also shifts to a high-level focus on how brands can use NFTs.
I highly recommend reading the guide in its entirety. Here's an excerpt from page 8 that shares future NFT use-cases:
"NFTs have garnered a lot of attention in the art and entertainment world. But with the emergence of Web3 and the Metaverse, the increased consumer appetite for virtual merchandise, and the shift towards the idea of digital ownership, NFTs are expanding way beyond digital art. We’re starting to see it spread into music, entertainment, sports, and live events—and provide value and utility beyond simply a digital collectible. While it’s still early stages, some real-world applications for NFTs could include:
Alright, that's all for this time, folks. Thanks for reading, and good luck out there if you're just dipping your toe into the space!
What Did I Buy?
(nothing in this post is financial advice!)
Welcome back! Today I’m sharing two projects I bought into in recent weeks, one of which needs no introduction because it’s VeeFriends! Series 2, that is. The other is CodeGreenNFT’s Heal Pass, which actually was a free mint and strangely required no gas at all when I minted, so that technically was not a buy. I’m not currently a vigorous buyer/seller/trader of NFTs, but I am a collector who enjoys investing in projects I feel have long-term potential.
VeeFriends Series 2
Welp, this one was a long-time coming, and I’m super-exciting to have joined the #VeeFam!! I would’ve done it sooner, it certainly wasn’t for lack of believing in GaryVee, it was just about finding the right time for me. I picked up Energetic Electric Eel #21235 for .7 ETH about a week and a half ago post-VeeCon. The energy of VeeCon, the experience, the peek-behind-the-curtain into not only GaryVee’s vision for VeeFriends, but the larger web3/NFT community’s vision all played a part in pushing me to pick up a V2.
I started perusing V2s near the floor in the airport on my way home from VeeCon, determined to find something I liked. I like the green characters the most, since it’s my favorite color. Independent Inch-Worm, Capable Caterpillar, Clever Crocodile, and others caught my eye, but the one I kept coming back to was the good ‘ole Energetic Electric Eel. I’ve seen Gary’s advice in Discord more than once saying that if you’re looking to buy one V2 near the floor, just pick one you like, as opposed to agonizing over what the perfect one might be in terms of future potential or value. So, it was easy to pick up the Eel for me; I love the vibe of the Eel itself in the Competing pose, as well as the background of the Retro Hotel.
Almost more than anything, I’m happy to have that token represent me in the VeeFriends community for now. The rule is that you are a member of the VeeFriends community simply by following, showing up, and engaging with others - ownership of a VeeFriend NFT isn’t required. I appreciate the sentiment behind that, and certainly considered myself to sort of be a peripheral community member in the past year (and certainly so simply by following GV for 4-5 years at this point), but there’s also nothing quite like actually buying in. Being able to verify myself in Discord as a Series 2 owner and have that much more connection and understanding of the project feels great.
CodeGreenNFT Heal Pass
So, I’ve been in Code Green’s Discord for months now, following Inna Modja joining World of Women as their Philanthropy Advisor. In the article I just linked, World of Women also announced they are “extending our charitable support to ecological causes, partnering with Code Green NFT to finance verified citizen-powered solutions to the climate crisis, with an emphasis on projects impacting the world’s most vulnerable communities.”
This sounded like a worthwhile direction to follow, so I joined their Discord. Recently, Code Green dropped the Heal Pass, “each one holding the key to the unique CODE GREEN ecosystem. HEAL PASSES secure you a pre-sale spot for our upcoming GENESIS NFT collection. They also open up a host of incredible utilities - empowering each of us to embark on an individual healing journey, whilst taking real-world action in healing the Earth.”
Considering this was a free mint, and sounds like a positive project to be a part of, it was a no-brainer, and I’m just lucky I minted in time. This project is hopefully another example of one of the uses of NFTs beyond speculation and sheer monetary gains. While there’s no doubt an aspect of that that is fun, and people have made life-changing money by being financially invested in the right NFTs, the potential for communities to organize themselves around causes for the betterment of the world and humanity is something I think we’ll also see have long-term impact. I’m excited to see what Code Green’s Genesis Collection entails.
One final note - I’ve just begun checking out Solana. I set-up a Phantom wallet and have started very briefly looking at Magic Eden. I haven’t purchased SOL yet, or really dug in, but I’ve been hearing more talk about Solana lately. Folks are speculating that more money could flow from Ethereum into Solana because of Solana’s low gas prices and speed of transactions, amongst other reasons. I’m also hearing that things work differently to some degree on Solana, that there is money to be made in quick buying and selling. As always, the question is about which projects to buy into and when to sell. Regardless, this is just a note to say that I’m looking at Solana, and might expand my crypto holdings soon.
Martin Rees. I joined the NFT space on August 1, 2021 and haven't looked back. Here is where I write about it.