1. Hello everyone again! It's been a while since i wrote a thread, but here we are!
This time i'll try to express my feelings about #NFTs and what i think they are.
Let's start!
This time i'll try to express my feelings about #NFTs and what i think they are.
Let's start!
2. I always try to explain things based on the everyday use and traditional space. For example I try to evaluate cryptocurrencies as currencies of the countries, defi tokens as stocks.
3. For example let's take $ftm.
There is a country called Fantom and you pay taxes with $ftm. The more that country grows, the more people pay tax and the more the demand grows for $ftm.
If the infrastructure is good, people will build businesses in the country.
There is a country called Fantom and you pay taxes with $ftm. The more that country grows, the more people pay tax and the more the demand grows for $ftm.
If the infrastructure is good, people will build businesses in the country.
4. And the businesses are for now generally #DeFi projects. Let's take @SpookySwap and $BOO token for that example.
It's like binance built on the country called Fantom, people pay taxes with $ftm to use the product, and $BOO is the stock of the business.
It's like binance built on the country called Fantom, people pay taxes with $ftm to use the product, and $BOO is the stock of the business.
5. When you stake your $BOO, revenue of the protocol will be given to you similar to the normal stocks. Or if business does well, demand to your stocks will increase and $BOO's price will appreciate.
6. So what's the value proposition of NFTs? What they look like in real life?
We try to say it's a form of art but not everyone is so sure about that.
Or why do you pay thousands of dollars for a jpeg that you can save it with one click?
Social capital.
We try to say it's a form of art but not everyone is so sure about that.
Or why do you pay thousands of dollars for a jpeg that you can save it with one click?
Social capital.
7. I am a watch enthusiast so i'll try to explain it with watches.
Why does someone pay >100k$ for a watch when they can simply buy an apple watch or see the time from their phone's screen?
Sure it's beautiful and the art speaks for itself, but the question is why?
Why does someone pay >100k$ for a watch when they can simply buy an apple watch or see the time from their phone's screen?
Sure it's beautiful and the art speaks for itself, but the question is why?
8. Because people express their personalities with the watch they wear. Some of them are here just to flex with a Rolex.
Some of them are flexing even harder with Patek Nautilus. They don't care about the beauty or movement, they see the name Patek Phillipe, they buy.
Some of them are flexing even harder with Patek Nautilus. They don't care about the beauty or movement, they see the name Patek Phillipe, they buy.
9. And some of them are here to express their lifestyle, their personalities with them.
If you know even a little about watches, you can easily judge a person based on the watch they wear.
And if you like the watch, or have words to talk about that watch, you click.
If you know even a little about watches, you can easily judge a person based on the watch they wear.
And if you like the watch, or have words to talk about that watch, you click.
10. I met one of the smartest person i have ever met with "Hey man, that's a beautiful watch, can i look at it?".
Then after 20 mins of watch talk, we found many similarities between us, then started to do business with each other.
Then after 20 mins of watch talk, we found many similarities between us, then started to do business with each other.
11. If you are not an enthusiast, you'll probably have a hard time to understand what can one talk that much about watches, but it's real.
And it's the same as #NFTs.
They represent your lifestyle or feelings, and they give you social capital, just with a difference. Online.
And it's the same as #NFTs.
They represent your lifestyle or feelings, and they give you social capital, just with a difference. Online.
12. You have a @BoredApeYC nft? It seems like you were one of the early adopters and you bored of aping.
You have @Pudgy_Penguins or @SappySealsNFT ? It seems like either you are cute or you like cuteness.
You have @DegenApeAcademy? It seems like you either are OG or wannabe.
You have @Pudgy_Penguins or @SappySealsNFT ? It seems like either you are cute or you like cuteness.
You have @DegenApeAcademy? It seems like you either are OG or wannabe.
13. And when you talk to someone, or when someone comments you with the same NFT project's profile pic, you feel more connected with that person than people with random pic.
The projects are something like private clubs, where you pay something to be in that club.
The projects are something like private clubs, where you pay something to be in that club.
14. But if you don't like the art, if you don't like the project, don't buy it.
There are many watch traders in the watch ecosystem as well, and because of them many of the watches are unbuyable. And trust me, %90 of watch flippers get rekt.
There are many watch traders in the watch ecosystem as well, and because of them many of the watches are unbuyable. And trust me, %90 of watch flippers get rekt.
15. It's illiquid market compared to other trade spaces. The same goes for NFTs.
You want to show off your feelings? Buy the NFT.
The art speaks for you? Buy the NFT.
You like collectibles? Buy the NFT.
You want to make a quick buck? Don't buy it. You'll probably get rekt.
You want to show off your feelings? Buy the NFT.
The art speaks for you? Buy the NFT.
You like collectibles? Buy the NFT.
You want to make a quick buck? Don't buy it. You'll probably get rekt.
16. "You can click and save it, why do you pay 100k$ on a Crypto Punk, it's stupid!"
is the same thing as
"You can click the top of your screen and see the time, why do you pay 100k$ for an Audemars Piguet, it's stupid!"
If it doesn't make sense, just don't buy it.
is the same thing as
"You can click the top of your screen and see the time, why do you pay 100k$ for an Audemars Piguet, it's stupid!"
If it doesn't make sense, just don't buy it.
17. But if the NFT speaks to you, and you can afford it, just go for it.
We have a short life to shout at each other's pleasures. If it makes you happy, if it touches you, just go for it, whether it looks stupid to other people or not.
Thank you for being here, as always.
We have a short life to shout at each other's pleasures. If it makes you happy, if it touches you, just go for it, whether it looks stupid to other people or not.
Thank you for being here, as always.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
