NettyArt NFT Podcast Episode 4. In this short clip, we talk about Is WAGMI BS in the NFT market
0:00 hey folks this is july co-founder and
0:02 ceo of netiart.io
0:05 today i’m here joined by my co-host
0:07 jonathan that’s right that’s me yes yeah
0:10 john let’s talk nfts let’s talk nfts
0:14 how are you feeling about nfts this week
0:16 johnny uh
0:18 i mean listen definitely we’re in a
0:20 bearish market but uh i’m still
0:22 optimistic about the whole you know
0:25 space um
0:26 right now i’m actually looking to buy
0:28 some you know i’m looking to add to my
0:31 collection
0:34 for me i still have such a long-term
0:36 view on this and you know it really
0:39 sucks for the folks that purchased an
0:41 nft like in the last 30 days maybe right
0:44 or 60 days uh
0:46 but again if if you purchased last year
0:49 the the bulk or you know six months ago
0:52 most likely you’re probably still up
0:56 again i’m not counting the factor that e
0:58 also drops yeah
1:01 so so yeah i mean i’m still um i’m still
1:04 bullish about the whole space and all
1:06 that yeah i uh i’m very enthusiastic
1:08 about the space
1:10 which brings me to our first subject for
1:12 today yes there’s a great twitter
1:14 twitter thread
1:17 and the title is we are going to make it
1:19 is
1:21 um yeah and in fact very few are going
1:23 to make it and here’s why now uh this is
1:27 a thread that i didn’t write
1:28 this is attributed to riddles.eth who is
1:31 self-described as a financial market
1:33 management consultant and based on this
1:36 twitter profile and what he wrote or i’m
1:40 assuming it’s a he could be a she we
1:42 don’t know the person isn’t doxed it’s a
1:44 great thread and so
1:47 the first idea is the house always wins
1:49 yeah and the question is but who’s the
1:51 house so
1:53 this comes from a casino you know
1:55 analogy the house uh is the project
1:58 creators it could be open c it could be
2:00 coinbase it’s the whole ecosystem the
2:03 people mining right right ethereum that
2:05 pulls eth
2:07 in your transaction
2:09 right and and they all make money
2:11 whether or not the collection performs
2:14 uh well financially for the collector
2:17 and that’s where the concept of the
2:18 house always wins comes from and again
2:21 if you read into this thread which we’re
2:22 going to share
2:24 uh yeah we’ll add it to the description
2:26 below excellent and the second thing is
2:29 insider trading rug pulls scams
2:31 exploitation at this point in your nft
2:34 career you’ve probably been subject to a
2:37 rug pull or
2:38 some other kind of uh collection that’s
2:40 really tanked and
2:42 maybe even disappeared
2:44 um and then the third thing is winner
2:47 takes most right it gets amplified uh in
2:50 in this space um
2:52 you know due to the flight of capital to
2:55 blue chip projects and other things yeah
2:58 the analogy that uh riddles dot
3:01 uh eth uses is
3:03 you know you look at someone like lebron
3:04 james or adele or another big time uh
3:08 celebrity these people make hundreds of
3:09 millions of dollars they’re worth
3:11 hundreds of millions of dollars there’s
3:13 local celebrities and athletes who make
3:15 a fraction of what they make and the
3:17 reason why is because they can scale
3:19 yeah right they have platforms so when
3:21 you look at you know something like
3:22 board apes right they are the lebron
3:24 james of uh nfts and so they are
3:28 accumulating a lot of that wealth in
3:31 those collections yeah i mean this is
3:32 one of the reasons and and we spoke
3:34 about this before that you know i
3:37 definitely push folks to try to buy into
3:41 a blue chip or
3:43 uh maybe an emerging blue chip something
3:45 that you think has that potential yeah
3:47 because i think at this point it’s
3:49 getting a little scary to like you know
3:51 uh you know folks are minting projects
3:53 left and right and the majority of them
3:56 are gonna fail
3:57 um you know so it becomes i you know we
4:00 spoke about this you know
4:02 the majority of the market is borderline
4:04 gambling
4:05 right like you’re taking a bet
4:07 on something that’s not proven and i
4:09 think if you’re interested in the space
4:11 and think about this right
4:14 we have all invested in things like even
4:16 an art blocks project right our blocks
4:18 was on fire we saw stuff it looked good
4:20 it had potential yeah yep nothing right
4:23 and so there are no guarantees that any
4:25 collection and even some and you’re
4:27 right because you know our blocks is
4:29 solid right like we know that that’s not
4:31 a rug pool uh but yeah it’s like it’s
4:34 all right the dynamic of succeeding in
4:37 this space
4:38 is serious right like you’ve always
4:40 mentioned you know who’s demanding the
4:43 attention right
4:44 and and it
4:46 and that’s why it’s pretty tough if
4:48 you’re coming into the space or you’ve
4:50 been in the space you know again
4:53 my recommendation is you know
4:56 continue to consider projects that
4:59 already have a track record or proven
5:02 themselves and don’t get caught up with
5:04 the fomo of like missing out
5:06 you know fomo is uh very real very
5:09 powerful
5:11 so again like this this isn’t fud i
5:14 think this is an honest perspective and
5:15 if you are investing in this space you
5:18 should check it out as july said it’ll 5:20 be posted in the description below