Did I imagine my very 1st purchase of a "useless" jpeg would cost $2m USD?
Absolutely not. It should have been $4m.
Frens, today I share the uncensored tale of how I entered the wild world of NFTs. From 0 to 8 figures in 30 days.
Grab a glass, take a seat, & hold on tight.🍷👇
Absolutely not. It should have been $4m.
Frens, today I share the uncensored tale of how I entered the wild world of NFTs. From 0 to 8 figures in 30 days.
Grab a glass, take a seat, & hold on tight.🍷👇
**DISCLAIMER: The story you are about to hear is unique. It is not to be taken as investment advice.
On the contrary, it is a tale of ego, envy, recklessness, & sleepless nights. It may one day end in a $100m+ fortune. It could also end in me being broke, angry, & humiliated!
On the contrary, it is a tale of ego, envy, recklessness, & sleepless nights. It may one day end in a $100m+ fortune. It could also end in me being broke, angry, & humiliated!
But such is the life we all signed up for.
My name is Cozomo de Medici. And I collect jpegs.
My name is Cozomo de Medici. And I collect jpegs.
While I am new to the NFT space, my family have been patrons of the arts for many years, our collecting philosophy simple:
"The best painters, and their best paintings."
"The best painters, and their best paintings."
This is what led me to the Punks. My friend @metahands who introduced me gave me one warning:
"You are about to discover digital crack."
"You are about to discover digital crack."
The day was in February. I remember it well. @FlamingoDAO had recently purchased an alien punk for a record-breaking ~$760k.
It gave me great envy that I did not possess one of these alien punks myself.
Ah, the prestige we silly humans are programmed to seek!
It gave me great envy that I did not possess one of these alien punks myself.
Ah, the prestige we silly humans are programmed to seek!
I decided to go shopping. A source mentioned an alien could be had.
In fact, it was simple.
I would need to open with a price of $4.5m USD.
In fact, it was simple.
I would need to open with a price of $4.5m USD.
My jaw hit the floor. Why would I spend $3.5m - or 2300 of my precious ETH - when just days before one went for 25% of that?
I passed, and proceeded to place 400E bids on every cryptopunk ape.
I passed, and proceeded to place 400E bids on every cryptopunk ape.
After 4 or 5 unaccepted bids, I moved on with my crypto life, not thinking of the punks again until June/July.
And that was when I noticed something peculiar:
And that was when I noticed something peculiar:
When all of crypto was crashing down, Punk prices were holding steady - even climbing.
I began reading the words of the great @peruggia_v, and realized how wrong I had been to look away from the # 1 asset in cryptocurrency.
I began reading the words of the great @peruggia_v, and realized how wrong I had been to look away from the # 1 asset in cryptocurrency.
With the help of my old friend @Farokh, I began ape shopping again.
Repeatedly, we are told to buy the floor ape for 1600E, which again, seems astronomically priced.
Then, one day, my DMs EXPLODE.
Repeatedly, we are told to buy the floor ape for 1600E, which again, seems astronomically priced.
Then, one day, my DMs EXPLODE.
“Congrats on your buy!” “The floor ape has sold!” “OMG you did it!”
I rushed to my computer. What had I done? Had a bid been accepted? I couldn’t remember if I even had a bid up.
The floor ape had sold. But not to me. To @garyvee!
I rushed to my computer. What had I done? Had a bid been accepted? I couldn’t remember if I even had a bid up.
The floor ape had sold. But not to me. To @garyvee!
All negotiations I had with ape owners end instantly.
We would likely never again see an ape for less than 1600E.
For there is a strange, cultural "ponzi-nomics" to NFTs, much like contemporary art, no one wants to sell for less than the previous high price.
We would likely never again see an ape for less than 1600E.
For there is a strange, cultural "ponzi-nomics" to NFTs, much like contemporary art, no one wants to sell for less than the previous high price.
2 hour laters, @pete____d grabs the ape listed for 2200E, and we will likely never again see an ape below 2200E.
And then, as I am drowning in sorrows for not buying the floor ape, total pandemonium takes over the Punks discord.
And then, as I am drowning in sorrows for not buying the floor ape, total pandemonium takes over the Punks discord.
A floor sweep is happening. Then another.
“The funds are coming! The funds are coming!”
My budget too slim, my ape dreams now shattered, my dear friend @justinaversano, who had been graciously helping me in pursuit of an ape, makes a "crazy suggestion":
“The funds are coming! The funds are coming!”
My budget too slim, my ape dreams now shattered, my dear friend @justinaversano, who had been graciously helping me in pursuit of an ape, makes a "crazy suggestion":
I should buy the floor zombie.
BOTH floor zombies.
As I'm pondering this crazy idea, the pandemonium continues, and another problem starts to arise:
BOTH floor zombies.
As I'm pondering this crazy idea, the pandemonium continues, and another problem starts to arise:
The Great Repricing.
Every punk owner not asleep is pulling their punks and doubling their prices! The floor is lava! People who bought punks that morn are selling for double just hours later!
Every punk owner not asleep is pulling their punks and doubling their prices! The floor is lava! People who bought punks that morn are selling for double just hours later!
I look at the wallet that holds the treasured "Cozom Zombie".
Unquestionably a top 3 Zombie, & unquestionably priced at what was hours earlier, a very expensive 850E
And it now looks like a damn good deal.
Earlier, the site said the wallet hadn't been active in weeks. But now
Unquestionably a top 3 Zombie, & unquestionably priced at what was hours earlier, a very expensive 850E
And it now looks like a damn good deal.
Earlier, the site said the wallet hadn't been active in weeks. But now
... It says “Active 1 min ago”.
COZOM is about to be repriced!
I loaded up my ETH, and click the trigger. First on Cozom, then on Punk #8472, Rhino Zombie.
And that is how Cozomo de Medici was born.
COZOM is about to be repriced!
I loaded up my ETH, and click the trigger. First on Cozom, then on Punk #8472, Rhino Zombie.
And that is how Cozomo de Medici was born.
This tale is getting a tad long. I will write Chapter 2 if there is enough interest.
For now I will simply say that this NFT ride is just beginning.
If you are reading this, you are early, & it is a pleasure to be on this journey with you.
I raise my glass to you all🍷
~CdM
For now I will simply say that this NFT ride is just beginning.
If you are reading this, you are early, & it is a pleasure to be on this journey with you.
I raise my glass to you all🍷
~CdM
Epilogue:
I couldn't just let this end without sharing a little of my philosophy for this wild world we are all in.
Last night I connected with @ac_collecting. We had a delightful conversation in the DMs, and I began to browse his remarkable gallery.
I couldn't just let this end without sharing a little of my philosophy for this wild world we are all in.
Last night I connected with @ac_collecting. We had a delightful conversation in the DMs, and I began to browse his remarkable gallery.
As I’m browsing through his metaverse, I realized that we are on the dawn of an entirely new world of socializing meets entertainment meets the arts meets investing.
It felt not unlike an exotic car meet-up, an outing on the golf course, or sitting around a poker table.
It felt not unlike an exotic car meet-up, an outing on the golf course, or sitting around a poker table.
The conversation evolved around his collection and mine. We shared our interests, our excitement over rare works. Our philosophy.
And it was then I realized, we are all part of a new paradigm.
And it was then I realized, we are all part of a new paradigm.
Never before have the worlds of social, arts, & investment collided in this way, virtually.
It is not an activity requiring much money to start, nor a particular skill.
It is not an activity requiring much money to start, nor a particular skill.
It can be done by anyone, with a simple web connection. Kids will compare video game wares. Us adults, our Art Blocks.
But this isn’t going any where. It’s only going to continue to explode.
But this isn’t going any where. It’s only going to continue to explode.
With nearly everyone I know who owns a little crypto, now asking me about the jpegs, I can see & feel it.
Let us enjoy these early days of building collections, connections, & experience in the metaverse.
We are at the dawn of something special. And I know you feel it too.
Let us enjoy these early days of building collections, connections, & experience in the metaverse.
We are at the dawn of something special. And I know you feel it too.
Follow me @CozomoMedici for more tales on:
- The NFTs I feel will vastly outperform the market
- How I determine whether to purchase floors or elite
- My philosophies around Punks, Meebits, & Art Blocks
- A tweet of gm or buongiono every single day ;)
- The NFTs I feel will vastly outperform the market
- How I determine whether to purchase floors or elite
- My philosophies around Punks, Meebits, & Art Blocks
- A tweet of gm or buongiono every single day ;)
And retweet the first tweet in this thread to help expand this exciting new paradigm we are all a part of:
https://twitter.com/CozomoMedici/status/1433587285035913217?s=20
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