Nft & Crypto History (w/ Easus)

Name: Nft & Crypto History (w/ Easus)
Uploaded: 2023-01-31T22:42:53.000Z
Duration: 2 h 36 min 25 s

Introduction

The speaker gives a background on why they revisit narratives and different plays in the NFT market. They explain how they prepare for new plays and trends, and give some personal background information.

The speaker revisits themes from previous ICO plays (Initial Coin Offerings).

They discuss how to be early in identifying new trends in the NFT market.

The speaker gives some personal background information, including their experience in finance, analytics, and tech.

Personal Background

The speaker discusses their personal background leading up to their involvement with NFTs.

The speaker has a background in finance and analytics.

In 2015, they started getting into sneakers and resale.

In 2016, they found a slack group that got them into the resale game.

This led them to crypto and buying their first cup of Bitcoin in 2017.

MBA Program

The speaker talks about going back to school for an MBA while also being involved in sneaker resale and eventually crypto.

The timing of going back to school was not ideal due to their growing interest in sneaker resale.

They found a slack group that introduced them to crypto while still pursuing their MBA.

Post-Corporate Ventures

The speaker discusses leaving corporate full-time in 2019 to pursue various ventures including sneakers and resell. They reflect on the journey that led them to NFTs.

In 2019, the speaker left corporate full-time to pursue various ventures including sneakers and resell.

They reflect on why NFTs are important by showing ties between pre-existing cultural ingredients that led us here today.

The Cultural Shift and Financial Markets

In this section, the speaker discusses how cultural shifts have affected the financial markets and why people are willing to pay more for something than its retail price. They also talk about how collector culture, sticker culture, and resale culture have contributed to understanding supply and demand mechanics.

Building Foundational Cultural Shifts

The speaker talks about how cultural shifts have affected the financial markets.

Collector culture, sticker culture, and resale culture have contributed to understanding supply and demand mechanics.

People who came from a background of resale culture into sneakers or building blocks understand the same fundamental aspects that were present in 2016-18 with cards.

Hustler Mentality

The speaker talks about the hustler mentality of being able to identify rare items that others want but are hard to get, correctly pricing them, reselling them, and making a profit.

This mentality was not as prevalent in 2016 as it is now. It has become more common among younger participants who see opportunities in owning valuable assets.

Fractionalized Shares

In this section, the speaker discusses fractionalized shares and how they have become more widely understood over time. They also talk about how this understanding has led to increased adoption rates among participants.

Understanding Fractionalized Shares

The speaker talks about how fractionalized shares were a basic understanding during preliminary conversations around crypto in 2017.

People now understand that they can own a fraction of an asset like Tesla or Amazon.

Increased Adoption Rates

As participants come into the market with an understanding of fractionalized shares, adoption rates should increase exponentially.

This increased understanding has already led to fractional bits of crypto parks, fractional Apes, and dials being sold.

Bringing More Liquidity to the Market

In this section, the speaker talks about how fractionalized shares have brought more liquidity to the market. They also discuss how smaller buyers can now participate in addition to larger buyers.

Increased Liquidity

Fractionalized shares have brought more liquidity to the market.

Smaller buyers can now participate in addition to larger buyers.

Future Progression

The speaker believes that as fractionalization continues to progress, it will bring even more liquidity into the market.

The Rise of Tesla and Crypto

In this section, the speaker discusses how Tesla's success in 2019-2020 led to a shift from fundamental investing to momentum investing. This shift fueled the early crypto run that started in mid-2020.

Retail Investors' Power

Retail investors realized they had power with their dollars.

Fundamental investing shifted to momentum investing.

This shift fueled the early crypto run that started in mid-2020.

Liquidity Concentration

Liquidity was trapped in illiquid assets like houses and 401ks.

Retail investors entered financial markets, concentrating liquidity.

Money trickled down into lower cap assets as players sought higher returns.

NFT Market Maturity and Flow of Money

In this section, the speaker talks about a conversation he had with Avalon about where the NFT market would mature and fall into the overall crypto market. He also discusses how money flows through different layers of the crypto market.

NFT Market Maturity

Speaker had a conversation with Avalon about where NFT market would mature.

They discussed how it would fall into overall crypto market.

Flow of Money

Big players take safe multiples with blue chips.

Lower liquidity players need more multiples for higher returns.

Money trickles down into lower cap assets like open editions for 10x or 100x returns.

Crypto Market Rotation

In this section, the speaker talks about how understanding how money flows through different layers of the crypto market can help people enter and exit various stages as they rotate through them.

Understanding Crypto Market Rotation

Understanding how money flows through different layers of the crypto market is important.

People can enter and exit various stages as they rotate through them.

Modern NFT Boom

In this section, the speaker talks about the modern NFT boom and how it compares to the run made by CryptoPunks.

Modern NFT Boom

Speaker wasn't around for CryptoPunks' run.

The modern NFT boom saw similar patterns to those seen in the early crypto run.

Blue chip NFTs like Apes and Our Blocks started pumping first.

Lower cap assets like Pudgy Penguins and open editions followed suit.

NFT Market Cycles

In this section, the speaker discusses the cycles of the NFT market and how liquidity flows through different types of assets.

NFT Market Cycles

Money trickles into apes and cool cats, then into blue chips, mid-cap, lower cap coins.

The cycle repeats with resets and restructuring.

Currently in an open edition phase.

NFT market was considered a mid-cap asset a few months ago.

Money flows into blue chips first (e.g. Art Blocks), then mid-matter projects (e.g. gaming matter), then open editions with high supply.

Framework for Investing in Crypto

Look at global liquidity and where it's flowing (stocks, crypto).

Pick up low cap coins with a narrative that could potentially 5x or 10x returns without using leverage.

Listen to Avalon office hours from 2021 for insights on what played out over the last 14 months.

BTC Dominance as an Indicator

BTC dominance is currently in the mid 40s range.

A massive crypto run usually starts with BTC dominance increasing to the 50s or 60s range.

Understanding Bitcoin Dominance

In this section, the speaker discusses Bitcoin dominance and its impact on the crypto market.

What is Bitcoin Dominance?

Bitcoin dominance refers to Bitcoin's share of the crypto market.

It is calculated by dividing Bitcoin's market cap by the rest of the crypto market.

As more money enters the crypto market, it tends to concentrate in Bitcoin first before trickling down into mid caps, small caps, and other alts.

The Importance of BTC Shift

A shift towards BTC is important because significant money coming into lower cap coins can give outside returns.

Increasing market cap is always good for speculative assets as it directly ties to price.

Attention may be away from less speculative assets when prices rise, but increasing market cap bodes well for us in the near term.

Determining Crypto Market Cycles

In this section, the speaker talks about how he determines which cycle we are in regarding the crypto market.

Global Liquidity Flows

The speaker looks at global liquidity flows to determine if we are still in an accumulation phase or expansion territory.

Until there are less restrictive macro conditions, any pump seen will not be a true expansion.

Trading Strategies for Crypto Markets

In this section, the speaker discusses their trading strategy for crypto markets and how they determine when to enter or exit a position.

Accumulation Phase

The speaker is currently in an accumulation phase.

They look for ranges and are in and out of positions.

Once the market cap starts to consistently increase, they start looking at Bitcoin dominance.

Bitcoin Dominance

The speaker looks at whether Bitcoin dominance is going up or down.

If people are accumulating Bitcoin, then there may be a potential Bitcoin run.

If people are rotating into more speculative assets in crypto, the speaker looks at ratios of how ETH is performing relative to Bitcoin, Solana, MATIC, etc.

Blue Chips and Lower Tier NFT Assets

Once blue chips are pumped, more liquidity enters into lower tier NFT assets.

The speaker looks for projects that have a good team and some semblance of what they're doing that could potentially run to Ether 2.

This framework helps them determine when to enter or exit a position.

PO App Announcement

In this section, an announcement is made about a PO app.

PO App Announcement

An announcement is made about the MVHQ Month POapp.

The secret code to claim it is "mvhqxisis".

There is no penalty for getting the captcha wrong.

Crypto Market Cycles

In this section, the speaker discusses their approach to crypto market cycles and how they determine which projects are likely to run.

History of Crypto Market Cycles

The speaker walks through various cycles and matters.

They discuss blue chips or blocks that kind of run.

They mention Pudgies and other projects that have already had a run.

They note that we're now in an area where people are burning things for something valuable.

Lower Cap Gun Place

The speaker refers to this area as the DJ area or lower cap gun place.

Setting Up for Success

In this section, the speaker discusses the importance of setting up multiple Discord and Twitter accounts using proxies to take advantage of upcoming opportunities.

Importance of Multiple Accounts

Minting from contract can be complex and difficult to navigate.

Bots will automate minting, making it easier for people to acquire multiple items at once.

Companies like Starbucks, Disney, and Nike will bring their cyber security infrastructure into web3.0.

Having multiple accounts with a high profile score will increase your chances of being selected for whitelist opportunities.

Setting Up Multiple Accounts

Use proxies to set up multiple Discord and Twitter accounts.

Maintain a one-to-one ratio of proxy Twitter, Discord, email, and phone number.

Rotate through 50 profiles daily to build history on each account.

Invest in better quality proxies as they are crucial for success.

Preparation is Key

In this section, the speaker emphasizes the importance of preparation in resell by discussing how it applies to web3.0.

Importance of Preparation

Preparation is key in resell because if you don't have what you need when you need it, you've already lost.

Being prepared gives you the best possible opportunity to take advantage of any right-left opportunities that arise.

Infrastructure Setup

Focus on building infrastructure setup every day.

Prepare for massive companies coming into web3.0 with massive opportunities by having your setup ready.

Scale up your setup as much as possible before these opportunities arise.

Profile Score Matters

In this section, the speaker discusses how profile scores matter in sneaker culture and how they apply to web3.0.

Profile Score

Profile scores are important in sneaker culture and will be important in web3.0.

Companies will start looking at how mature your setup is when selecting whitelist opportunities.

Maintaining Multiple Accounts

Maintain a one-to-one ratio of proxy Twitter, Discord, email, and phone number.

Rotate through 50 profiles daily to build history on each account.

Invest in better quality proxies as they are crucial for success.

Automation Tools

In this section, the speaker discusses automation tools that can help with setting up multiple accounts.

Automation Tools

Use automation tools to make it easier to set up multiple accounts.

Software exists that can keep your emails warm without filling them up.

Use software that allows you to open multiple windows at once.

Understanding Trading Fundamentals in Crypto and NFTs

In this section, the speaker discusses the importance of understanding basic trading fundamentals when it comes to crypto and NFTs. They explain that being able to identify basic structures in charts can help traders be successful in both markets.

Importance of Identifying Basic Structures in Charts

Being able to identify basic structures in charts is important for success in both crypto and NFT markets.

Traditional traders are entering the NFT market, making it more mature.

The more liquid a market is, the more it mimics traditional markets.

Identifying Your Trading Style

Not every trading style is suitable for everyone.

It's important to identify what type of trader you are before an opportunity arises so that you know exactly how you're going to trade it.

Knowing your psychology and aligning your trading style with an opportunity can lead to more success over time.

Thoughts on Liquidity Extraction and Porsche Project

In this section, the speaker shares their thoughts on liquidity extraction and the Porsche project.

Liquidity Extraction

The speaker does not support liquidity extraction because they believe people should do their research before investing.

They met with the Porsche team but did not feel like they met with many people.

Porsche Project

The floor price for the Porsche project is doing well now, but the speaker believes that two million dollars could make or break Porsche.

The speaker would have liked the Porsche team to extract less liquidity, but acknowledges that people are making money from it.

Proxy Accounts and Managing ALTs

In this section, the speaker discusses how to manage proxy accounts and ALTs. He talks about using real phone numbers, emails, and profiles for these accounts. He also shares some tools that can be used to get phone numbers for each site.

Using Real Phone Numbers for Proxy Accounts

The speaker recommends using real phone numbers for proxy individual accounts.

It depends on what you are trying to block.

The speaker manages his ALT by having a main account, another account, five main alts, and another one that is not public.

If you do some research, you could figure out all of those have real phones with actual prepaid phones with actual profiles.

Organizing Proxy Account Information

The speaker has a sheet where he stores all the numbers for hundreds of accounts that he uses in case he gets questions.

It's like a master document that keeps all of his profile information tied together.

When signing up for Swoosh or Nike account it automatically links your account.

Starbucks did the same thing as well as Nifty Gateway where he had a whole bunch of nifty accounts.

Identifying Meta Games

In this section, the speaker talks about identifying meta games and why it is important to understand why they are taking place.

Understanding Meta Games

Kobe is someone who survived multiple cycles which makes him interesting to the speaker.

Identifying a meta game is important because it helps in understanding why something is happening.

A lot of people are good at understanding that there's a new matter happening but not why it's taking place.

Trading Strategies

In this section, the speaker discusses their trading strategy and how they prefer to be late to the party and leave before people start freaking out. They also recommend reading an article from 2021 about bear markets and using Discord as a central hub for information.

Late to the Party

The speaker prefers to be late to the party when it comes to trading.

They like to leave before people start freaking out.

The speaker recommends reading an article from 2021 about bear markets.

Using Discord as a Central Hub

The speaker recommends using Discord as a central hub for information.

They have their own Discord where they do everything from tweeting to following operating procedures for their VA.

All necessary information is embedded in that Discord so that if their VA quits or they have to hire more people, everything is easily accessible.

The speaker has news for Blue Chips flowing into one section of their Discord and ninja alerts and Moby alerts flowing into another section.

There is also a section used to capture any in-cycle thread that anybody posts so that there is a history of even top cats early mvhq videos.

Overall, the speaker emphasizes being prepared with infrastructure and leveraging free tools available such as Discord.

Supplemental Materials and the Future of NFTs

In this section, the speakers discuss the importance of supplemental materials for NFTs and how bots are changing the game. They also touch on the future of NFTs and how they will evolve over time.

Importance of Supplemental Materials

The speaker requests Seth's supplemental materials for NFTs.

The speakers discuss how valuable assets eventually end up in a queue system where people can purchase them hands-free using their phones.

Bots in NFT Market

The speakers talk about how bots have become necessary to win quick tasks like sneaker games.

Twitter bots can listen to a group of accounts and grab links from tweets to purchase items without any human intervention.

The speakers predict that there will be new mechanisms developed to prevent botting as the market evolves.

Future of NFT Market

The speakers discuss how artists may tweet out manifold links, which could lead to a queue system for instant mints.

As more people enter the market, it will become more inclusive, and new mechanisms will be developed so that different types of people can get what they want.

There is a delicate balance between flippers and producers determining prices in low liquidity markets like NFTS.

Web3's Potential to Introduce New Wrenches

In this section, the speakers discuss web3's potential to introduce new wrenches into the market so that it cannot be botted. They also discuss whether it is better for brands to protect their products or let the market decide.

New Wrenches in Web3

The speakers discuss how web3 can introduce new wrenches into the market so that it cannot be botted.

The speakers predict that as the NFT market evolves, new mechanisms will be developed to prevent botting and make the market more inclusive.

Brands' Role in NFT Market

The speakers discuss whether it is better for brands to protect their products or let the market decide.

There is a delicate balance between flippers and producers determining prices in low liquidity markets like NFTS.

This transcript has only two sections, which are both related to each other. Therefore, I have combined them into one markdown file with two subheadings.

The Impact of Brands on NFT Sales

In this section, the speakers discuss the impact of brands on NFT sales and how it can potentially hurt core believers if they are sold items by people who do not appreciate what they are buying. They also talk about how mature brands should launch and mint status to mimic their overall brand philosophy.

Brand Philosophy Should Mimic Launch and Mint Status

Mature brands coming into the space should have a launch and mint status that mimics their overall brand philosophy.

Porsche's Strategy for Selling NFTs

Porsche would rather sell only 2,000 than cut prices because they don't want to make it look like Porsches are accessible. This strategy is understandable from a brand perspective.

Choosing Between Hype or Community Solidarity

If you're trying to appeal to the community, you can't send out emails three hours later after the mint is closed. You have to choose between extra hype or extra community solidarity.

Yuga's Dominance in NFT Trading Volume

In this section, the speakers discuss Yuga's dominance in NFT trading volume and whether it is unhealthy for the macro environment. They also talk about diversification and how Yuga controls 50% of the market cap.

Flight to Safety with Yuga

Yuga controls 50% of all NFT trading volume on Etherscan, which could be seen as a flight to safety. However, it is not healthy for diversification in the macro environment.

Playing Yuga's Game

Yuga's game is to do whatever they want, and people should play Yuga whenever they want to play. It doesn't fit into any frameworks, and it breaks all the rules.

Trading Crypto and NFTs

In this section, the speaker discusses their approach to trading crypto and NFTs. They explain how they use technical indicators to trade crypto and how they determine when to layer in and out of NFTs.

Trading Crypto

When trading crypto, the speaker relies on technical indicators and charts.

In a bear market, the speaker is focused on doubling or tripling their money. In a bull market, they aim for 10x or 1000x returns.

The speaker prefers to take a disciplined approach to trading rather than relying on luck.

Trading NFTs

The speaker generally does not trade both crypto and NFTs simultaneously.

When it comes to NFTs, the speaker looks for signs of irrational exuberance as an indicator that it's time to sell.

The speaker tries to maintain capital by taking profits at times of maximum euphoria in the market. They then wait for confirmation before redeploying capital into the next opportunity.

Macro Indicators and Trends in Crypto and NFTs

In this section, the speaker discusses macro indicators and trends that they are keeping track of as they relate to crypto and NFTs.

Key Points

The question asks about macro indicators that can help with de-risking within crypto and NFT markets.

While there are some metrics available, such as the Bitcoin fear and greed index and Twitter sentiment, the speaker does not rely on them heavily.

Trading Strategies

In this section, the speaker discusses trading strategies and how to avoid getting caught up in market euphoria.

Consistent Wins Over Time

Experienced traders consistently win over time by going through many market cycles.

They don't always post huge gains like 10,000%, but they are consistent.

Avoiding Market Euphoria

When everyone is posting gains on social media, it's usually a sign of peak euphoria and a good time to sell.

The speaker looks for an exit when they see others posting about their gains on Twitter or Discord.

Unless there is a fundamental reason to hold an asset, the speaker generally looks to sell during peak euphoria.

Layering Out Trades

The speaker's best trades have been when they layer out their positions instead of selling everything at once.

They sold some of their Project Penguins tokens at different price points instead of waiting for the top.

Once something has 10x'd, it's less likely to do so again in the same bull run.

Holding Assets and Letting Go

In this section, the speaker talks about holding assets and letting go of them when necessary.

Treating Assets Like Relationships

The speaker compares holding assets to being in a relationship. They only have time for one thing they really love and view other assets as tools to advance their portfolio goals.

It's important not to get married to any particular asset because not all investments will be successful.

Regrets and Convictions

The speaker has held onto bags from previous bull runs that they regretted later because they got caught up in market euphoria.

Selling assets that didn't make sense showed conviction in their beliefs and plan going into the investment.

Sourcing Low-Value Coins

In this section, the speaker answers a question about how they source low-value coins.

Finding Low-Value Coins

The speaker did not answer the question directly but instead talked about their bullishness on Pack.

They believe that Pack will be successful because of its unique features and strong community.

Extracting Money from the Market

In this section, the speaker talks about extracting money from the market and how he feels about it. He also discusses his thoughts on Path and its founder.

Thoughts on Extracting Money

The speaker believes that if someone promises something and extracts money from the community, they should deliver what was promised.

He thinks that taking responsibility is important and that being a leader comes with a price.

The speaker is not bullish on Path's founder right now but believes that there is too much money for him to just go away.

He mentions that Path's founder has extracted money before and disappeared for months, only to come back and extract even more money.

Dark Horse Theory

The speaker shares his theory that Path's founder may be using an algorithm to run his account in perpetuity.

Thoughts on Orcs

In this section, the speaker shares his thoughts on Orcs, a project launched by a team with very little funding.

Early Days of Orcs

The speaker thinks that the team behind Orcs was early and had a mature strategy for launching their project with very little funding.

He acknowledges that they delivered value early on by providing Dungeons for people to play through during the bear market.

Current State of Orcs

However, he notes that over time, some of the novelty has worn off and people are starting to question when they will create their next big thing.

English Gaming Matter and Finding Coins

In this section, the speakers discuss the challenges of operating like an indie company in the gaming industry. They also talk about finding coins and investing in them.

Struggles of Operating Like an Indie Company

The speakers believe that companies operating like indie companies will struggle even if gaming matter takes off in 2023.

Finding Coins to Invest In

To find coins to invest in, one can join Telegram groups or follow influencer YouTube channels.

It is important to find passionate individuals who have done research on a protocol and buy into it with a small amount of money.

Staff Seth is recommended as someone who knows how to play coins. He has been nurturing his Bitcoin bag for four or five years.

It is important to play the pump, take profits, consolidate when there's a new narrative that fits the particular coin, and hope to catch one of those God candles like Ada had, Medicard had, or Solana had in early 2020/early 2021.

English Investing Strategies and Frameworks

In this section, the speakers discuss investing strategies and frameworks.

Investing Strategies

The speakers recommend getting on Zoom call meetings before tokens launch to get information about upcoming investments.

It is important to be in on an investment early because once it becomes centralized it can be difficult to make a profit.

Sometimes people are too close to an investment opportunity which makes it difficult for them to see its potential value.

Frameworks for Investing

The speakers discuss the importance of frameworks for investing.

Solana was criticized for being too centralized, but it was still a good investment opportunity.

English Execution and Strategy

In this section, the speakers discuss execution and strategy.

Execution

Sometimes the speakers need to disappear in order to process missing pieces and start putting together a strategy.

It is important to consider all aspects of an investment before making a decision. For example, when considering Porsche Play, the speaker considered that only 100 were minted and asked when a new whitelist would come out because they knew there would be a squeeze.

Strategy

The speakers emphasize that execution is only half of the equation; strategy is equally important.

Importance of Practice

In this section, the speaker emphasizes the importance of practice in achieving success.

Practicing to Improve

The only way to improve is through practice.

Even with years of experience, one can still make mistakes and needs to continue practicing.

It's important to execute what you've learned through practice.

Appreciation for the Talk

In this section, the speaker expresses gratitude for the opportunity to speak and shares his appreciation for the audience.

Gratitude and Appreciation

The speaker appreciates being given the chance to share his knowledge.

The talk covered a lot of information that will be useful for listeners.

The speaker is grateful for having an attentive audience who found his talk interesting and digestible.

The audience is thanked for their time and attention.