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NFT Anonymous Group - Where we frivolously spend crypto gains on digital animal cartoons. (2 Viewers)

urbanhack said:
I just watched that dude's video to search for upcoming projects. I might jump into this: https://twitter.com/partydjsc

launching today at 5pm pst.
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Somebody brought this one up on the NEO Tokyo discord.  One guy said his buddy runs the marketing for the project and it's a very competent team in the EDM marketing space who's done work for DeadMau5.  Unfortunately, he doesn't know anything about the development team.  

 
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urbanhack said:
I think we should all pick a project that is just getting off the ground. At this stage in my life I'm not sure how much I'm going to interact with a new social group just because we bought the same jpg. I'd rather take an existing social group (FBG) and go into a project together. As far as risk I'm willing to enter at .5 ETH or maybe anything less than 1 ETH if the project seems robust.

Who's in?
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in

 
Willie Neslon said:
Am I nuts for not selling one of these things right now? Floor is 6 eth. Can lock in a $20k profit and still have one to sweat for the reveal. Have to think post reveal the floor will drop for the non-rares. Or just lock them away and hold long term? What would you do?
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Nope...that's actually standard protocol and you're right to assume the floor will drop after reveal.  You risk trading away a rare, but the smart money play is to cash in before the reveal.

Sorry - worded my answer strangely compared to your question.  I would sell one now.  It's not crazy to hold both, but I personally would take the risk of one off the table because the floor will definitely cave on commons.

Taking the profit on one allows you exposure to the project for long term, but also gives you a nice sum to play on other projects.  As with any other investing, diversification is key. 

 
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Captain Cranks said:
Nope...that's actually standard protocol and you're right to assume the floor will drop after reveal.  You risk trading away a rare, but the smart money play is to cash in before the reveal.

Sorry - worded my answer strangely compared to your question.  I would sell one now.  It's not crazy to hold both, but I personally would take the risk of one off the table because the floor will definitely cave on commons.

Taking the profit on one allows you exposure to the project for long term, but also gives you a nice sum to play on other projects.  As with any other investing, diversification is key. 
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Appreciate the response. I'm trying to figure out what I could live with. Holding both and floor drops i would just lock them away long term. But if I sold one and it was a rare I would be so upset. Then again I would feel like an idiot to have this free money just sitting there and not taking it when i could. This is like a real life episode of Let's Make a Deal!

 
PSA for those of you new to this game.  It's fraught with scams and hackers so you have to be really careful.  A few important things I've learned.

1.  When you create a Metamask wallet, make sure you're on https://metamask.io.  Metamask.com is a phishing site that will steal your crypto.

2. Never give your Metamask safe key to anyone other than Metamask.io.  No one will never need it for any type of transaction.  It's between you and Metamask.  That's it.

3. Never trade or move NFTs that have been dropped on your wallet that you weren't expecting.  You can opt to hide them on Opensea in order to ignore them.

4. On Discord, projects will not DM you.  There are really well constructed scam DMers who make it look like it's from the dev team.  Just ignore them.  

 
Willie Neslon said:
Appreciate the response. I'm trying to figure out what I could live with. Holding both and floor drops i would just lock them away long term. But if I sold one and it was a rare I would be so upset. Then again I would feel like an idiot to have this free money just sitting there and not taking it when i could. This is like a real life episode of Let's Make a Deal!
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No doubt.  You're dealing with cognitive bias which is tough to overcome when you're in the thick of it.  Unless you have a much larger wad of cash sitting around for NFTs, taking profits on half so you can diversify is the shark move.  

 
Captain Cranks said:
No doubt.  You're dealing with cognitive bias which is tough to overcome when you're in the thick of it.  Unless you have a much larger wad of cash sitting around for NFTs, taking profits on half so you can diversify is the shark move.  
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I have about 20 other nft's that could all do well but I don't think any of them have close to this kind of potential. I kind of got in this nft game hoping for a moonshot and now I have two. I feel like I'm 55-45 hold both. Friends irl are split. It's a fun problem to have I guess but I'm really torn. Having them not be revealed yet is what really makes it a tough decision. Reveal is sunday or monday so still have some time to think it over. 

 
Willie Neslon said:
Anyone know the skinny on cold wallets? I ordered a Ledger Nano X but now reading some not so great reviews.
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The skinny is pretty simple. Cold wallets are safer from a security standpoint. A little more inconvenient by needing to be moved on and offline. When I got mine Charles Hoskinson was imploring anyone with more than 10k skin in the game to use a Ledger. So I got two knowing I misplace or hide things from myself (the x and s combo was just $15 more). I am unaware of the bad reviews. Seemed every time I sought reviews, Ledger was recommended about 4-1 over Trezor, and both were highly recommended over hot wallets. :shrug:

As for profit taking vs hodlin', I have nothing to add to what both you and Cranks have said other than as a Californian I want to avoid taxation by moving to Nevada or possibly Mexico before the 1st of Jan. As a US citizen I want to avoid as much short term gains as possible. So minimizing asset moves and avoiding all profit taking is me until next August. 

 
Chaos Commish said:
The skinny is pretty simple. Cold wallets are safer from a security standpoint. A little more inconvenient by needing to be moved on and offline. When I got mine Charles Hoskinson was imploring anyone with more than 10k skin in the game to use a Ledger. So I got two knowing I misplace or hide things from myself (the x and s combo was just $15 more). I am unaware of the bad reviews. Seemed every time I sought reviews, Ledger was recommended about 4-1 over Trezor, and both were highly recommended over hot wallets. :shrug:

As for profit taking vs hodlin', I have nothing to add to what both you and Cranks have said other than as a Californian I want to avoid taxation by moving to Nevada or possibly Mexico before the 1st of Jan. As a US citizen I want to avoid as much short term gains as possible. So minimizing asset moves and avoiding all profit taking is me until next August. 
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Is the learning curve on the Ledger any issue? Have you had any problems with it? Do you store your NFT's in it?

 
Willie Neslon said:
Is the learning curve on the Ledger any issue? Have you had any problems with it? Do you store your NFT's in it?
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It wasn't for me but I've played with a few dozen wallets. Scroll down this article to "Connecting your metamask to nano."

You may want to read the section just above, but everything else is puff. And yes, all my defi wallets are connected to Ledger now. My one custodial wallet is not but freewallet.org uses ledger technology and keeps holders funds in cold storage - like many central exchange wallets. Use google or the ledger site if you have issues. It's all simple enough. Just that extra step of powering on the device and connecting to online wallets. You're buying nfts so you know the drill for connecting metamask.

 
Re: early vs late

While I def believe it’s early (just look how few people are actually using OpenSea), I’m starting to hear more and more buzz around an approaching NFT bear market. Sooner than we think too. Is this just natural FUD? Preparing in any way? 

 
Willie Neslon said:
These suckers are at a whopping 8 eth floor. Reveal postponed until Tuesday. If they rise above 10 before reveal I think I'd be crazy not to sell one.
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Heck yeah, I'd be watching the sales and floor closely and dumping one for sure.  Not financial advice (always wanted to say that lol).  

 
Bobcat10 said:
Re: early vs late

While I def believe it’s early (just look how few people are actually using OpenSea), I’m starting to hear more and more buzz around an approaching NFT bear market. Sooner than we think too. Is this just natural FUD? Preparing in any way? 
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If crypto goes bear, I think a lot of the PFP projects are going to lose a ton of value.  That's why it's key to be in quality projects with long term value and use cases.  If you're holding onto the latest fad pfp project with no use case, I'd be worried.  

Of course, if crypto goes bull, I don't think the NFT market has anything to worry about in the short term. 

 
Bobcat10 said:
Re: early vs late

While I def believe it’s early (just look how few people are actually using OpenSea), I’m starting to hear more and more buzz around an approaching NFT bear market. Sooner than we think too. Is this just natural FUD? Preparing in any way? 
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I already thought we were in the bear market. It gets better still? Countless people are already making crazy money off the dumbest ****.

 
ShamrockPride said:
I already thought we were in the bear market. It gets better still? Countless people are already making crazy money off the dumbest ****.
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We were in a craze through the end of August.  September was a bit of a bearish market but things have turned around the last 2-3 weeks.  Yes, it can get a lot better still.

 
I've got a project I'll pitch tomorrow.  It's called the Impact Theory Founders Key.  Totally different project than all the copycat PFP projects were seeing and likely the new model of community-driven business investment.  The world is a changin' and we're out there ahead of it.  I'm excited about this one. More details tomorrow.   

 
Ok.  Here's a summary I pulled together for the Impact Theory Founders Key...

Overview:  Content studio whose goal is to create the next Disney by developing empowering storylines for the next generation of content consumers.  The Founders Key is a series of NFTs which serve as the cornerstone of the project’s community first ethos to give owners access to the ongoing value created by the company.  This is done via special access to future NFT mints of its various content franchises.

Dev Team:  Impact Theory is led by successful entrepreneur and co-founder of Quest Nutrition, Tom Bilyeu.  This is pseudo-philanthropic endeavor for him, but something he’s extremely passionate about and will work tirelessly to make successful.  The company now has around 40 employees including marketers, artists, engineers and even includes former Disney and Netflix executives.

Project specifics:  https://www.youtube.com/watch?v=WAteiGkS-Oc&ab_channel=NFTCulture

-          Key quotes – “We’re trying to disrupt Disney.  We’re trying to make sure nobody gets to the age of 15 without encountering a growth mindset and we’re going to do it at scale through story.”

“I will win on the jump (NFT sales), for sure, but then I’m going to support it for the next 40 years.  90% of the long tail value will be captured by my community, not me.”

“For me this is a long term play that we’re not just trying to pump these out.  Each one of these <10 projects currently in development> is a franchise that we plan to carry to the screen.”

There are currently 10 different stories/projects being developed including Neon Future PFP with Steve Aoki in early 2022.  Another storyline is due to drop in early November 2021 with “absolutely top-tier art…and a story planned out over 3 years…and will support for 5 years whether it makes money or not.”

https://medium.com/@george_pags/impact-theory-founder-key-c8d2f687f1ef

NFT Minting Details:  There are three tiers of the Founders Token:  Legendary, Heroic, and Relentless (3 ETH, 1.5 ETH, and 0.1 ETH, respectively).  The deadline to get on the whitelist is today at 6 PM PST.  Presales for the Legendary Key start tomorrow.

Discord:  Great positive community.  This isn’t your typical hyped PFP discord where everyone is talking about how it’s going to moon.  People are genuinely excited about Tom and the long term prospects of the project.

Risks:  The largest execution concern is whether the studio will produce compelling content.  I don’t believe it’s a huge concern, but ultimately they have to create storylines that capture the audience’s attention.  I see this as low risk.

 
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Captain Cranks said:
Ok.  Here's a summary I pulled together for the Impact Theory Founders Key...

Overview:  Content studio whose goal is to create the next Disney by developing empowering storylines for the next generation of content consumers.  The Founders Key is a series of NFTs which serve as the cornerstone of the project’s community first ethos to give owners access to the ongoing value created by the company.  This is done via special access to future NFT mints of its various content franchises.

Dev Team:  Impact Theory is led by successful entrepreneur and co-founder of Quest Nutrition, Tom Bilyeu.  This is pseudo-philanthropic endeavor for him, but something he’s extremely passionate about and will work tirelessly to make successful.  The company now has around 40 employees including marketers, artists, engineers and even includes former Disney and Netflix executives.

Project specifics:  https://www.youtube.com/watch?v=WAteiGkS-Oc&ab_channel=NFTCulture

-          Key quotes – “We’re trying to disrupt Disney.  We’re trying to make sure nobody gets to the age of 15 without encountering a growth mindset and we’re going to do it at scale through story.”

“I will win on the jump (NFT sales), for sure, but then I’m going to support it for the next 40 years.  90% of the long tail value will be captured by my community, not me.”

“For me this is a long term play that we’re not just trying to pump these out.  Each one of these <10 projects currently in development> is a franchise that we plan to carry to the screen.”

There are currently 10 different stories/projects being developed including Neon Future PFP with Steve Aoki in early 2022.  Another storyline is due to drop in early November 2021 with “absolutely top-tier art…and a story planned out over 3 years…and will support for 5 years whether it makes money or not.”

https://medium.com/@george_pags/impact-theory-founder-key-c8d2f687f1ef

NFT Minting Details:  There are three tiers of the Founders Token:  Legendary, Heroic, and Relentless (3 ETH, 1.5 ETH, and 0.1 ETH, respectively).  The deadline to get on the whitelist is today at 6 PM PST.  Presales for the Legendary Key start tomorrow.

Discord:  Great positive community.  This isn’t your typical hyped PFP discord where everyone is talking about how it’s going to moon.  People are genuinely excited about Tom and the long term prospects of the project.

Risks:  The largest execution concern is whether the studio will produce compelling content.  I don’t believe it’s a huge concern, but ultimately they have to create storylines that capture the audience’s attention.  I see this as low risk.
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Thanks for posting. I've watched some of his interviews and tracked his progress about his own education of crypto, Web3, and NFTs. 

 
Willie Neslon said:
Appreciate the response. I'm trying to figure out what I could live with. Holding both and floor drops i would just lock them away long term. But if I sold one and it was a rare I would be so upset. Then again I would feel like an idiot to have this free money just sitting there and not taking it when i could. This is like a real life episode of Let's Make a Deal!
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Weeeeellllll.  What did you end up doing?  I see the floor is 3.8 now.  

 
So I got the ETH in my metamask and I made a small purchase yesterday just to test the process and now I can't find the ####### NFT that I bought.  :lol:

 
urbanhack said:
Yes..OpenSea.

I see the transaction in metamask, but it's not translating to anything showing in Opensea.
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Hmm.  So when you go to your profile in OS, there's nothing?  

Either you're not connected to MM correctly (close your browser and try reconnecting) or there's a lag on OS.  If you open the NFT on OS, does it show the recent sale with "you" as the owner?

 
Captain Cranks said:
Weeeeellllll.  What did you end up doing?  I see the floor is 3.8 now.  
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I held. The Meka's were revealed this morning so the floor drop was expected. It's 4.9 eth. Not too bad. Expect it to rise to around 6 in a few weeks. I have not looked at my revealed Mekas yet. Afraid to look.

 
urbanhack said:
So I got the ETH in my metamask and I made a small purchase yesterday just to test the process and now I can't find the ####### NFT that I bought.  :lol:
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Are you looking on Metamask desktop? For some reason you have to manually input tokens on desktop. It's a glitch. They show up right away on mobile though.

 
Captain Cranks said:
You did not waste time.  What got you into those projects?
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My cousin has been eyeing these things for a bit and dabbling, and was into these. 
 

The ones that interest me most are the ones that are kind of “gamified,” and have some utility. For example, the stupid space apes are soon going to be able to fly missions, apparently, if you have three apes, and also holders of them will soon get a planet or something. I dunno. I’m rereading that and it occurs to me this is all just madness.

 
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I tried to get in on the mint of the Scribbles last night. A bunch of heavy hitters behind that project. I didn’t even come close. 

 
Otis said:
I tried to get in on the mint of the Scribbles last night. A bunch of heavy hitters behind that project. I didn’t even come close. 
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Yep.  Not sure about Scribbles, but gas for Jungle Freaks mint the night before was $4k. Well worth it though considering you could mint 3 at 0.07 ETH price and the floor is currently over 1. 

 
Otis said:
My cousin has been eyeing these things for a bit and dabbling, and was into these. 
 

The ones that interest me most are the ones that are kind of “gamified,” and have some utility. For example, the stupid space apes are soon going to be able to fly missions, apparently, if you have three apes, and also holders of them will soon get a planet or something. I dunno. I’m rereading that and it occurs to me this is all just madness.
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This is the way.  There's gotta be some long term use case or future utility or else these things are going to zero. 

 
Captain Cranks said:
Yep.  Not sure about Scribbles, but gas for Jungle Freaks mint the night before was $4k. Well worth it though considering you could mint 3 at 0.07 ETH price and the floor is currently over 1. 
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Can you explain for me wtf this “gas” charge is?  I saw people going bananas about this on Twitter last night, some absurdly high gas prices of north of $10k. 

 
Otis said:
Can you explain for me wtf this “gas” charge is?  I saw people going bananas about this on Twitter last night, some absurdly high gas prices of north of $10k. 
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Gas is the fee owed to miners to process the transactions on the system.  So you've got all these NFT transactions trying to be verified on the Ethereum system and only a finite number of miners (computers) to do it.  Since you need the transaction verified quickly, you get into a bidding war on the gas (fee) to have yours processed vs someone with a lower bid.  

 
We're in a couple Solana projects that have a royalty component (just got our 1st royalty on SOL Tigers last week). Now people are freaking out because of the FUD regarding how these might be treated by the government/SEC. Platforms like DigitalEyes and Solanart (where our projects were listed) are now delisting royalty projects. Any of the smart people here have a non-panicky take on this?

 
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