Thread by @punk6529

1/ On NFA (Not Financial Advice)

I am making this thread so I can refer back to it because more and more people are copy-trading me in their purchases

🚨 Key message: Do not assume that anything I buy or tweet is a good investment or 'financial advice'🚨

2/ As we have discussed before, 6529 is on a mission-based journey and that mission is not necessarily to optimize return on investment on NFTs

So the first thing you should know is that, in most cases, I am not buying NFTs because I plan to sell them at a higher price

3/ If an NFT I buy makes sense for the 6529 mission and is never liquid again, that is fine for me.

Related: I am buying for the 6529 Museum.

Often I am not buying NFTs that are financially optimal in isolation but match a theme in the Museum

4/ I am in Level 4 / Level 5, so I can afford for all 6529 NFTs to go to zero and nothing will change about my life.

I will have the same house, car, vacation, family, trips, job and so on

6529 has survived in crypto since 2013 by isolating IRL from crypto this way

5/ So the key mega-point is that if I buy an NFT, it does NOT mean:

a) you should buy it
b) it is a good investment
c) it is right for you
d) you should FOMO

🚨DO NOT FOMO beyond your financial capacity. We are not going to run out of JPGs🚨

6/ I have noticed that plenty of people are now tracking my wallet, so whether I tweet or not, people are going to copy-trade me (even though they should not necessarily do so).

So when I have time to, I will sometimes tweet about what I am doing to at explain my logic

7/ One category of buys and tweets are mega-grails, of 100ETH, 500ETH, 1000ETH and so on

These don't worry me so much because the people who can FOMO into a 500ETH squiggle do not need financial advice from me anyway and almost certainly have more money than me.

Good luck 🐳s

8/ The other category of tweets that I have really enjoyed recently are under-looked photography collections.

These are often 0.1 to .2ETH type collections.

You should know that I am buying those with zero expectation of being able to resell or that I will have liquidity

9/ At 6529's scale, 0.2ETH pieces can bought purely because I like them and because want more of them to exist in the world.

And because I have a bigger Twitter feed than a typical unknown photographer I give the world a chance to decide if they also feel the same.

10/ For many of these photographers, selling 25 pieces at 0.1ETH might be the difference between if they can continue their work, if they can do the next project, if they can make the next collection.

It is life-changing, career-changing amounts of money in some cases

11/ Allowing someone w/ a unique vision or style to find their first 10, then 100, then 1,000 true fans is one of the awesome outcomes of NFTs so I will do my part to help when possible

It is correcting an IRL distribution/market breakdown where the artist can't find their fans!

12/ Now, more abstract points.

For important pieces, for important collections, for big buys I think it is a positive for large collectors to explain their logic and explain their intentions.

It is good for artists, collections and markets and people should do it more

13/ For now I am still buying generally from the 6529.eth main wallet, particularly large buys.

Being front-run has not yet become a problem so I will stick with this for now.

In the future that may change.

14/ There are some pieces that might be bought by other wallets bc my IRL obligations are not consistent with tracking a bunch of auctions, mints, etc.

So I've asked others to help with this type of thing

When they make it home to the main wallet, I will share the good news

15/ So that is it for now:

I want to reemphasize that you should only: a) buy what you like, b) with money you can afford to lose.

FOMO is both real in this space (happens to everyone) but keep in mind how many other cool JPGs are incoming and chill 🏖️

16/ I think most people know this, but for the n00bs.

Increasingly what you see in my wallet on OpenSea are *not* pieces that I have collected but instead spam to my wallet, so you can't even copy trade that way.

Basically if it was a transfer, not a buy, 95% it is spam

17/ Closing this thread.

If you got here for the first time and would like to learn more about NFTs, take a look here:

https://twitter.com/punk6529/status/1429399888786333697