Friday, June 14, 2024

Exactly how people get rich with NFTs

In this video I go over two things — exactly how an NFT goes from 0 to 100x and how collectors get rich buying the right collections.

We’ve heard a lot about “blue chip” NFTs (BAYC, Azuki, Doodles, World of Women, Cool Cats, Cryptopunks) and many people are looking to buy into the next one. At the same time these get a lot of negative press as well with many people calling them scams.

I’m often seeing both groups misunderstand what’s actually happening here. 

One of the biggest things coming out of NFTs is decentralized brand building. This is where creatives crowdfund a new brand instead of going through centralized channels, and they’re primarily using NFTs which means that ultimately everything can be community-owned, and collectors capture a lot of the upside. 

This has led to a new class: culture investors (or vibe capitalists, I’m still trying to find a catchier name). 

Many culture investors have already become millionaires but I think we’re still in the first inning. I also talk about some obvious risks, many of which already exist with any type of brand building (it’s just not as obvious when for example Netflix signs a deal and it doesn’t produce an ROI, but it happens a lot).

Follow me on twitter:

0:00 start here
0:57 “profile pic collections are scams”
2:14 BAYC vs Marvel
3:14 the rise of the Culture Investor
4:34 exactly how NFTs go from 0 to 100x
8:20 Exactly how NFT Investors get rich
10:55 why I buy specific NFTs like Azuki


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