When I joined the NFT craze in September 2021, I was naive.
Finally, I thought, a way for artists to make a good living. A new digital art movement that would propel the creator economy to new heights.
Was I ever wrong…
Finally, I thought, a way for artists to make a good living. A new digital art movement that would propel the creator economy to new heights.
Was I ever wrong…
The reality: 99% of NFT pfp projects are money grabs that deploy wash/insider trading tactics to perpetually pump the floor, and give the illusion of high demand.
None of the big players were here for the culture unless it was the culture of profit.
None of the big players were here for the culture unless it was the culture of profit.
And that’s fair, money is money and people go where the money is.
Flippers brought the energy required to make NFTs a household term.
Money’s not then problem. There’s something more insidious that still grips NFT culture.
It’s the unspoken rules about who has “made it”
Flippers brought the energy required to make NFTs a household term.
Money’s not then problem. There’s something more insidious that still grips NFT culture.
It’s the unspoken rules about who has “made it”
If you don’t sell out in a few weeks you’re considered a rug (degen for we can’t make money off your collection).
The floor must always be up. Floor price is the most important utility, whether we admit it or not.
And if your project doesn’t moon in a few weeks you’ve failed.
The floor must always be up. Floor price is the most important utility, whether we admit it or not.
And if your project doesn’t moon in a few weeks you’ve failed.
The pressure to deliver a manipulated floor price greatly outweighs the need to provide value.
The value comes from the pump, when it -should- come from the utility.
The reality is that most NFT projects don’t have a viable business model…
The value comes from the pump, when it -should- come from the utility.
The reality is that most NFT projects don’t have a viable business model…
And no way to stay in business long term besides selling more NFTs. Some will build lasting brands, but most will whither away because of this.
NFT pfp culture ultimately cares very little about the long-term success of a project or its creator.
NFT pfp culture ultimately cares very little about the long-term success of a project or its creator.
You’d pay $120 a year on Patreon to support the average creator. but yet complain if the NFT they bought for $120 doesn’t appreciate 500% overnight.
You don’t ever get that $120 back if you decide to stop supporting that artist on Patreon.
You don’t ever get that $120 back if you decide to stop supporting that artist on Patreon.
And if you keep supporting them you pay even more than the average NFT. And people do that. They pay creators for their work without ever expecting to turn a profit because the value is being delivered.
I still believe NFTs are a tool that creators should use
I still believe NFTs are a tool that creators should use
But I don’t believe in the ridiculous expectations of a culture that is using creators to make a profit. And now putting royalties on the chopping block.
Someone has to be your exit liquidity. Ultimately, it’s the creator that cops all the fallout of a pump & dump system.
Someone has to be your exit liquidity. Ultimately, it’s the creator that cops all the fallout of a pump & dump system.
The projects that break away from this have a chance to make something real and amazing. And the ones that insist on making NFTs their entire business model will mostly fail.
I’m not here to make the artificial pump my entire game plan.
I’m not here to make the artificial pump my entire game plan.
DragonForge doesn’t belong to that culture. We have found, and will continue to forge, a different path.
It takes times to build an empire. Years.
The only way NFT culture survives and creates long-term viability as a cultural movement…
It takes times to build an empire. Years.
The only way NFT culture survives and creates long-term viability as a cultural movement…
Is when the people who manipulate the value of collections are outnumbered by people who actually give a shit about creators.
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