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1/ As I'm sure many of you are starting to look into NFTs, I thought I would share my high level thesis on NFTs.
It is not often that a new crypto narrative comes along that is as divisive as NFTs.
Whenever I see that, it is worth exploring.
It is not often that a new crypto narrative comes along that is as divisive as NFTs.
Whenever I see that, it is worth exploring.
2/ I find NFTs primarily interesting for 3 very high level reasons. If you want a more granular thesis, @GTJOKER_ and @dgntec usually have solid thoughts on individual NFT projects.
Let's dive in.
Let's dive in.
3/ 1) Early promise of staying power. NFTs are becoming more Lindy with each time they return.
4/ This can be seen in the crypto market with early excitement on reasonable initial volume going back to 2017/2018 (ie cryptokitties and others) as well as the long history of passionate collector communities in general (art, cards, in game items...).
5/ 2) NFTs are currently poorly understood in the broader crypto market and sometimes difficult to grasp, but have a dedicated community of enthusiasts.
6/ Seeing debates about why you would ever own something that you can take a screenshot of indicates we are still early in market understanding.
I initially fell into this same category as I had never really participated previously as a collector, let alone a digital collector.
I initially fell into this same category as I had never really participated previously as a collector, let alone a digital collector.
7/ Whereas I found money or DeFi simple to grasp and make comparisons, NFTs were initially more elusive.
But I find the principles to have *some* similarities to those guiding the belief system underpinning the bootstrapping of a new digital money.
But I find the principles to have *some* similarities to those guiding the belief system underpinning the bootstrapping of a new digital money.
8/ 3) Expanding the NFT market. Speculation drives interest.
As we are able to repackage NFTs into simple more liquid products and increase user understanding, we can slowly increase market participation and erode the complexities inherent in NFTs.
As we are able to repackage NFTs into simple more liquid products and increase user understanding, we can slowly increase market participation and erode the complexities inherent in NFTs.
9/ I see the creation of more liquid NFT markets (AMM style for one) that also abstract away the difficulties of evaluating/pricing individual NFTs, as a method to further expand the market to more participants looking to dive in.
10/ This was a part of my thesis for $NFTX--creating a more accessible and liquid market for NFTs.
Let's see where this next wave of NFT interest takes us.
Only time will tell.
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Let's see where this next wave of NFT interest takes us.
Only time will tell.
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