Matty Profile picture
24 Nov, 23 tweets, 4 min read
A quick thread on why listening to NFT influencers can lose you a LOT of money.

If you’re new please read.

If you like this, please RT.

1/ Let’s explore 👇
2/ The NFT industry was mostly a handful of people building/collecting/buying projects they genuinely liked.

Now it’s a lot of “who’s buying what” and speculating on hype potential.
3/ Signalling is part of business so to some degree “it’s just business” but the reality is this can create enormous hype that gets newbies rekt if they’re new to the space.

Double that with the illiquidity of new NFT projects and it can get ugly.
4/ When influencers tweet, let's simplify it to,

- Intent, (unknown)
- Immediate effect, (known)
- Long term effect, (unknown)
5/ Let’s also dive deeper and expand into some of these points.

Again, a reminder to share this thread if you find it valuable. I think there’s a lot of content newbies need to know/be aware of since there’s real money at risk.
6/ But Matty aren't you an "InflUenCeR"?

I hate being referred to as one but I guess I am. My tweets DO have some influence so apply everything you read here to me and my tweets.
6/ Firstly, I think Titter is OP.

The fact that you can tweet a few sentences and it can reach millions of people is incredible.

BUT Twitter algo is designed to distribute “hyped content”. This is where the danger lies.
7/ If you had to pay for the amount of impressions my Twitter has generated last month alone it would be ~$50k.

Think about the power of that. Some people have 10-20x the influence of me, maybe more.

So they're getting for free what companies/people would pay $5M/yr for 😳.
9/ A simple tweet can take a new NFT project to the moon but if there's no underlying building, community, value, etc, then the below graph plays out.
10/ BUT if there's collective influence that has build value that sustains and underlying strength, this graph plays out
11/ Which one will make you money?

Both have the potential to actually.

The first is where some influencers take advantage. They buy very early, hype the project, sell at the top and move on.

The problem is whether they do this KNOWING the project is garbage.
12/ There is a huge incentive to do this. It's so damn easy.

Spend 10 ETH very early when no one knows the projects.

Make a few tweets, convince others to join, tell 10s of thousands of people about how it's going to be epic. Sell at 10x.

13/ The good thing is now the NFT community as a whole are more experienced.

SO we can smell BS. STILL with newbies entering all the time, I feel like it's just something everyone has to go through.
14/ Most influencers never intended to become influencers, they just started off tweeting frequently, sharing, shit posting, creating and before they knew it they had 10k+ followers, some 100k+.

Suddenly "just sharing" becomes a signal to potentially millions of people.
15/ So at some point you think.

"Holy shit my tweets have so much influence" 😱


"Holy shit my tweets have so much influence" 😈
16/ So are they now obligated to think better of their influence when sharing projects? Or should they do whatever they want?

Regardless, what they tweet has an effect and it’s THAT effect that should be known and understood by everyone.
16/ I think the biggest part of it comes down to 'intent' which is a big unknown.

Do they flip or hodl?

Both are fine BUT flipping shows intent to play the hype.

Which if YOU want to participate in, have to be aware of risks.
17/ This thread isn't to say "influencers are bad", it's more to bring awareness of how it effects what you invest in and how to navigate around.

Basically influence creates high volume, which creates a peak, then a drop.
18/ The onus is on YOU to be diligent in looking for MORE than just hype, (if long term investor), OR know how to trade/derisk if needed.

The onus is also on us collectively to educate others on the market when you see patterns.
19/ The reality is, everyone in crypto is incentivised to talk about projects they’ve invested in. This is by design.

If you’re playing a game, blogging, using a platform, you can purchase tokens and be incentivised to help.
20/ Again, once experienced and hard lessons are learned, the control is really only in your hands. So it's up to YOU to Do Your Own Research.
21/ Some things I look at,

Founding team
Funding model
Product fit
Community strength
Digital marketing ability
Potential growth

If you JUST look at “Network/influence”, you can see how people can get rekt.
22/ Anyway, none of the above is investment advice, just my 2 cents on the topic on protecting yourself and newbies you're onboarding.

Stay well.

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More from @DCLBlogger

15 Nov
NFT Marketing 101.

How to bring eyeballs to your NFT project, Art, Avatars, or anything you’re working on.

Let’s explore

2/ 8 Years ago I quit my full-time job to learn how to make money on my own.

I made blogs, apps, web projects, etc and ultimately realized if I can't get eyeballs on my projects, there's really no point.

In this new age of digital noise, how do you get people to pay attention?
3/ imo it came down to 3 main things,

- GREAT product
- Building Awareness
- Persistence/Re-iterating through feedback
Read 29 tweets
15 Nov
Barbados to become first sovereign nation with an embassy in the Metaverse. 🤯

“The Barbadian Ministry of Foreign Affairs and Foreign Trade signed an agreement on Sunday with @decentraland for the establishment of a digital embassy.…
“the government is also finalizing agreements with “Somnium Space, SuperWorld and other Metaverse platforms”
“In an interview with CoinDesk, Barbados’ ambassador to the United Arab Emirates, H.E. Gabriel Abed, said that the country intends to expand aggressively beyond this initial effort to build structures and purchase digital land in a variety of virtual worlds.”
Read 5 tweets
14 Nov
Multi-million dollar idea for who can build this.

An NFT trading-simulator platform where you can practice NFT investing/trading/flipping with fake ETH.

But still earn the platforms native token based on performance/number of follows, etc.

2/ Challenge would be to bring fungible properties to a non fungible economy.

Can be done with “floors” or multi edition art, (there’s plenty), and expanded upon slowly. (Fractions, traits, etc).

A native token can be worked into the ecosystem.
3/ example,

- to vote which projects are whitelisted onto the platform.

- Stake/burn it to get more “fake ETH”. As it’s “trade to earn (NFTs).”

- Earn it if you perform well or educate.

(Just some ideas).
Read 4 tweets
10 Nov
There are extremely wealthy corps/companies interested in spreading negativity around the NFT/blockchain industry.

And it’s sad the masses fall for it.

Square Enix, Discord, EA, Ubisoft announce their interest and 90% of their core userbase are angry smh.

2/ Honestly, it’s just sad.

This tech is designed to liberate and give control to the end user/creator.

It’s the biggest threat to established companies that take advantage of their power to set rules. Rules they always win by.
3/ The exact same thing that happened to Bitcoin, (Years of attempted suppression),

Now happening to NFTs.

“NFTs are bad for the enviro” - there is millions of dollars worth of NFT transactions happening in enviro friendly blockchains.
Read 5 tweets
29 Oct
Ok What’s this Metaverse thing everyone keeps talking about?

Books, Ready Player One, random nerds on the internet and now Facebook?

The next decade is going to be LEGENDARY.

1/ Thread 👇
2/ What is the Metaverse?

There’s a lot to unpack here.

Wikipedia has a good line on this,

"Metaverse is a speculative future iteration of the Internet, made up of persistent, shared, 3D virtual spaces linked into a perceived virtual universe."
3/ The term initially made an appearance in the book “Snow Crash”.

I’m not going to fake it. I didn’t read Snow Crash.

But I DID watch Ready Player One and was like HOLY SHIT this is the future.
Read 25 tweets
26 Oct
What does it mean to help projects build?

In the NFT/blockchain industry, founders and their community can be business partners.

Let’s explore the many ways you can buy + hold + BUILD.

1/ Thread.
2/ Blockchain/NFTs have an interesting customer-company/artist relationship where the user/collectors are incentivised to help.

Unlike just buying a Netflix sub, in the NFT world that sub can be an NFT that can also be an investment.

So why just hold when you can help grow?
3/ Building could mean many things.

Here's some ideas that come to mind including things I've implemented and seen around in the last 3-4 years.

The future is about shared incentive models for all parties involved.
Read 23 tweets

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