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6529

@punk6529

22 Sep

1/ Mini-thread

My hypothesis

The biggest current NFT collections are going to be bigger than all but a handful of any NFT collections that are going to be put together by the "TradArt" collectors incoming.

Why?

2/ There are multiple collections with market value today of $50M to $100M. Some of them even more maybe.

But for the purposes of this example, let's use $50M to $100M as a range.

How many TradArt billionaires are going to be ready to put $50M to $100M into NFTs today?

3/ My guess is "not very many". Keep in mind that most billionaires are illiquid. When you read that XYZ is worth $2B or $5B or $10B, do not imagine that this money is sitting in a bank account.

It is in stocks, bonds, partnership interests in funds, stock of private companies

Read 14 tweets

6529

@punk6529

21 Sep

https://twitter.com/Zeneca_33/status/1440341797125853187

1/ Same buyer for both. I don't think you need a PhD in rocket science to understand what is going on.

This is another Chromie Squiggle vertical collection being built in front of our eyes.

It is, as I tweeted a few days ago, one of the smartest structured rarity plays in AB

https://twitter.com/Zeneca_33/status/1440341797125853187

2/ As always we need to look at both demand and supply.

Demand: Is it an appealing concept for a museum or collector to be able show each type of the iconic, first AB project?

I consider it one of the most obvious "yes-es" in on-chain generative art

3/ How about supply?

There are a theoretical 20 sets that can be built but many of those are vaulted already. I'll update my table later and post it, it is a mix of diamond hands and AB super-gurus (or both)

Won't be more than a handful of these ever built from today onward

Read 4 tweets

6529

@punk6529

21 Sep

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

Read 17 tweets

6529

@punk6529

20 Sep

It is hard to imagine a worse system for managing KYC than the current system of disclosing oodles and oodles of personal information (and photos) to the customer service reps of many different organizations

6529 has a significant IRL job. I have to do this weekly +/-.

It is the dumbest thing in the world, as if there were not 100 better ways to confirm my residency / identity than sending utility bills (home address), ID numbers, photos etc to hundreds of people / year

To take the dumbest example, confirming that you are a resident of country X is a different question than "what is your home address and how many kwh of electricity or BTUs of gas you use"

The fin svcs firms need the former, not the latter

Read 4 tweets

6529

@punk6529

20 Sep

https://twitter.com/naval/status/1439724904367026176

1/ This is 100% correct. The first phase of this were broad horizontal self-booted up communities like BTC and ETH.

And more of these will emerge too.

But (and?)...

https://twitter.com/naval/status/1439724904367026176

2/ ...what we are seeing with ERC-721 and NFTs is the opportunity to represent communities with higher resolution directly on chain.

One of the reasons for tension sometimes within BTC or ETH, fork wars etc is, in effect, battles about what the community is, what it represents

3/ I believe in NFTs we will see smaller, tighter, more vertical communities with roles more finely represented.

And forks are much easier to manage. We can make more JPGs trivially without risking network security

Read 4 tweets

6529

@punk6529

19 Sep

1/ On Metaverse Land

This is a very short thread, but something that has been bothering me since the spring and I think I now have an initial point of view on it

6529 does not yet own any metaverse land (decentraland, sonmium, etc) bc I had some concerns I had to work through

2/ Concern 1: I don't understand conceptually why metaverse land should be scarce from a consumer product market fit perspective.

I get that, say, decentraland limits land to make number go up, but the marginal cost of metaverse land is zero and we need to bring 1B ppl onboard

3/ So I think, basically, any metaverse that limits land to some artificially small amount will eventually be outcompeted by a metaverse that onboards tens or hundreds of billions of people for close to free

And that is likely to be a centralized institution which is bad

Read 16 tweets

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