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In honor of the new @garyvee follow and my investment success this past week, I figured I'd drop some actually useful information.
Why do I collect #NFTs? What am I looking for when I collect?
Let's answer those questions.
Why do I collect #NFTs? What am I looking for when I collect?
Let's answer those questions.
First, the why. You always have to start with why.
When I started heavily researching NFTs 9 months ago I found first the digital art side. As an art lover I was amazed at how NFTs could provide legitimate means of ownership of digital art, and how it could empower artists.
When I started heavily researching NFTs 9 months ago I found first the digital art side. As an art lover I was amazed at how NFTs could provide legitimate means of ownership of digital art, and how it could empower artists.
Legacy galleries take sometimes 50% of a sale, compared to 20% or less that #NFT galleries take.
And NFTs allow you to transact art peer to peer in a much easier & more liquid way.
So that alone impressed me. But that was just the beginning. Because NFTs are more than art.
And NFTs allow you to transact art peer to peer in a much easier & more liquid way.
So that alone impressed me. But that was just the beginning. Because NFTs are more than art.
I started collecting. Before our platform @Blockparty launched I shopped on others. I browsed and bought on @SuperRare @rariblecom and on @niftygateway primarily.
Connecting with artists was exhilarating. I got my first Rarible reward. Then I made my first 5x flip. I was hooked.
Connecting with artists was exhilarating. I got my first Rarible reward. Then I made my first 5x flip. I was hooked.
As our platform launched I got to collect amazing stuff there as well. Artists who I admired before I ever learned about NFTs were releasing art week by week in greater numbers. Quite the rush.
Around this time @ZanzibarVenturz told me about @nba_topshot.
Around this time @ZanzibarVenturz told me about @nba_topshot.
With Top Shot I realized this was something potentially global. I understood digital collectibles and their value, but realized that others wouldn't implicitly. Digital art as NFT especially would be hard for them to grasp.
But Top Shot... I knew the public would get it.
But Top Shot... I knew the public would get it.
So I put some money into Top Shot, but spent as much time studying the platform as I did buying packs and moments. I knew this was something special.
Here I began to build my thesis.
Buy genesis pieces. Buy established artists new to NFT. Buy collectibles. Buy innovation.
Here I began to build my thesis.
Buy genesis pieces. Buy established artists new to NFT. Buy collectibles. Buy innovation.
These are still the core of my thesis to this day. Let's take a look at each.
1. Buy Genesis.
Genesis pieces are the first work an artist makes as NFT, or the first an artist mints on a certain platform.
They have unique provenance (story) and thus greater value.
1. Buy Genesis.
Genesis pieces are the first work an artist makes as NFT, or the first an artist mints on a certain platform.
They have unique provenance (story) and thus greater value.
Similar to low edition numbers in collectibles. These first-ever pieces from artists are more special in many ways.
I have 7 genesis in my collection from various artists who I thought had promise to grow over time, like @L_SAUCEYwashere and @kooshaazim.
I have 7 genesis in my collection from various artists who I thought had promise to grow over time, like @L_SAUCEYwashere and @kooshaazim.
2. Buy established artists new to NFT.
I bought the genesis piece from @hipworth_ and commissioned another not just because I liked his style, but because I saw he was experienced in art prior to this, and just had started minting NFTs.
Buying pieces like this is also wise.
I bought the genesis piece from @hipworth_ and commissioned another not just because I liked his style, but because I saw he was experienced in art prior to this, and just had started minting NFTs.
Buying pieces like this is also wise.
I also bought the first two WhIsBe gummy bear drops because they were the first two ventures of an already very successful artist into NFTs. Both profited nicely.
Which leads me to point number 3.
3. Buy Collectibles
Which leads me to point number 3.
3. Buy Collectibles
NFTs are more than just art as we've established. Collectibles as NFTs can be really powerful.
WhIsBe gummy bears are a great example. Other examples include the now very popular @nba_topshot, the rapidly rising Crypto Punks by @larvalabs and @AxieInfinity.
WhIsBe gummy bears are a great example. Other examples include the now very popular @nba_topshot, the rapidly rising Crypto Punks by @larvalabs and @AxieInfinity.
Which leads me to my final point.
4. Buy Innovation.
Another 'collectible' type project I love & am quite vocal about is @artblocks_io.
I love these because they are extremely innovative. Each project is a new artist, with a new approach, pushing art/tech boundaries.
4. Buy Innovation.
Another 'collectible' type project I love & am quite vocal about is @artblocks_io.
I love these because they are extremely innovative. Each project is a new artist, with a new approach, pushing art/tech boundaries.
Artblocks along with the also innovative forerunner @AvaStarsNFT represent not only great artistic quality, but innovation on the tech + delivery of NFTs as products and consumer experiences.
They leverage artistic quality, innovation, randomness, and community to great effect.
They leverage artistic quality, innovation, randomness, and community to great effect.
So:
1. Shop genesis + early work from promising young artists. This is ethical too.
2. Shop early work from established artists entering NFTs.
3. Buy collectibles, especially ones w/ global potential.
4. Seek innovation. Especially where art, collectibles & randomness intersect.
1. Shop genesis + early work from promising young artists. This is ethical too.
2. Shop early work from established artists entering NFTs.
3. Buy collectibles, especially ones w/ global potential.
4. Seek innovation. Especially where art, collectibles & randomness intersect.
Hope this helps.
Cheers.
Cheers.
