MSS Post Series: NFTs

  • ✅ Success stories
  • 🎩 Status, Signalling, Utility & Entertainment
  • ⚠️ Risks, fraud, scams
  • 🤟🏽 NFT lingo
  • ⛽️ Costs & Gas Fees
  • 🤖 Digital native identity & expression

NFT Series (1/6): success stories

The newly crypto-rich did what rich people do: bought art 🎨 and toys 🧸

  • Digital artist Beeple, sold a collaged image file for $69 million plus 10% royalty off consequent resale 🖼
  • Top Shot a marketplace for NBA highlight reels, has generated over $230 million in sales 🏀
  • Jack Dorsey, Twitter’s CEO, sold an NFT version of his first tweet for a whopping $2.9 million
  • The musician (and mother of Elon Musk’s youngest son) Grimes sold her NFT collection of digital artworks for $6 million in less than 20 seconds ⏳
  • $24 million Sotheby’s auction of Bored Ape Yacht Club tokens 🙊
  • The average selling price of CryptoPunks has gone from under $200 to over $200K, a 1000X return in a span of a few months
  • SoftBank’s Vision Fund led a $680 million Series B round, which values the company Sorare at $4.3 billion — a fantasy football platform based on NFTs ⚽️,

NFT Series (2/6): Status, Signalling, Utility & Entertainment

People seek out the most efficient path to maximizing social capital

https://www.notboring.co/p/status-monkeys?fbclid=IwAR0XMzGAyAbAhXjWgsZJEUFmyTjg_fIvtYjacilGqFVJ8zMxIURalEUEnto

NFT Series (3/6): Risks, fraud, scams

The basis for fraud emerges because artworks & collectible toys DO NOT have a standard pricing basis

NFT Series (4/6): NFT lingo

One sign of a communal movement is that a new language emerges. Here are some key terms you need to know…

NFT Series (5/6): Costs

Transactions on the Ethereum blockchain are incredibly energy inefficient; one transaction uses more power than the average US household does

NFT Series (6/6): Digital Native Identity & Expression

Bitcoin’s value is rooted not in the Bitcoin blockchain, but rather in the collective belief of millions that it is in fact valuable; NFTs, to the extent they capture and retain value, will require the same sort of collective belief ✊🏽.

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AdiG

AdiG

www.clutchplayadvisors.com Early stage company advisory and startup fund raising. Human connections that build relationships, add value and move the needle