Lab Summaries - GMoney | NFT Projects That Will Make it Through the Bear

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As an avid NFT learner, I was excited to listen to GMoney’s interview on The Defiant podcast recently.

He shared insights about the NFT market today, how he thinks about CryptoPunks and his vision towards the future of NFTs.

There were many eye-opening insights that made me rethink what I knew about NFTs.

If you are interested in the NFT space, this is a must listen.

In the meantime, I’ve summarised some gems I’ve taken away from the podcast here.

Links to the full podcast and GMoney’s Twitter account at the end.

Enjoy!

Current state of the NFT market

• In a bear market, there are more trades for people who need liquidity; People that are transacting are people that really need to transact for liquidity.

• Most people want to maintain more liquidity and thus have less purchasing power today.

• While floor prices for blue chip NFT projects are getting slashed, smaller collections might be down more.

  • Reason being: Holders of smaller NFT projects might have relatively less liquidity, with different liquidity profiles versus holders of blue chip NFT projects.

• Comparing real estate to NFTs:

  • Real estate can generate yield, which allows it to be more of a safe haven asset.

  • NFTs in their current form are more similar to art as an asset

CryptoPunks Thesis

• People have always been attracted to products that serve as display of success and wealth

• NFTs are the ultimate flex, with a limited supply and ease of authentication. This makes it a status symbol similar to ‘lambos’ and rolexes.

• As the first profile picture (PFP) project that really took off in the NFT space, it also holds a lot of historic value. Even projects like Bored Apes Yacht Club that came after can be seen as an homage and tribute to CryptoPunks

Future of NFTs

• Overall, we are likely to observe growth in NFT space through 2 areas: Disruption and Adoption

• Disruption can come in the form of new and innovative use cases. For example:

  • Membership tokens such as Proof and Admit One

  • NFT lending with tools such as NFTFi; Greater use cases of NFT x Defi - using NFTs as Collateral to get loans - driving a new innovative primitive that can be a gamechanger for NFTs as an asset

    • More work can be done to develop from peer to peer lending now, to peer to protocol in future

• Adoption can be driven with more resources and infrastructure built for creators - e.g. no code creation tools for creators to attract more artists

Enjoyed this interview?

You can find the full interview here on The Defiant.

You can also follow GMoney on Twitter.

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Feel free to drop me a DM and send any feedback, suggestions or takeaways over!