What are NFTs Staff
February 15, 2022Twitter Followers: 11K
-+
What originally brought you into the NFT space?
The Jonathan Bales article about his Ja Morant Cosmic purchase. I probably came into Top Shot with a big wave of DFS players who all saw the same article.
-+
What month and year did you get involved in NFTs?
January 2021.
-+
What NFTs do you currently own? What is your favorite and why?
Lots of NBA Top Shot, Wolf Game, Gutter Dog, Smilesssvrs, Chain Runners, Cryptoon Goonz, Purrnelopes, Pieland.
Honestly I would say Top Shot because the possibilities with moments are really endless. The gamification and challenges have made it really fun this series. From a non-Top Shot standpoint, I really like what Smillesssvrs has going on. Their art is out of control so much detail, and their collabs are great as well.
-+
What do you think is the most important thing to look for before investing in NFT projects?
A team that knows how to do three things. Build a great project with good art and good technology. Build a strong community organically, not through useless WL competitions and Twitter raids. Offer strong marketing techniques and be able to generate and sustain hype. I believe it’s really hard to find a project that does all three well. Generally one of those three pillars is going to feel in-organic and scammy and that’s not the way.
-+
What would you tell a newbie before beginning to invest in the NFT market? What should they look for?
Be extremely patient. Watch out for bots in DMs. If it looks too good to be true it probably is. Most of your successes will come at or near mint prices. Be willing to take some losses, but take time to watch how market trends work. See how cycles work from project announcement, mint, reveal, etc. They are very repetitive, but it takes some time to figure it out.
-+
What do you foresee as the top challenges for NFTs moving forward?
Barrier to entry of good projects becoming too high. I think we continue to see some of these projects create lower entry level offshoots to allow their brand to build. Does that dilute the value of the main project? Will be interesting to watch play out.
-+
Where do you see NFTs in the next 3-5 years?
I think NFTs are definitely the future of gaming. However, I also think there will be a rough cycle of NFTs when big brands start to get into this space. I see a future where there are a lot of useless NFTs that don’t have utility or value behind them and were simply a cash grab by a big corporation. It will take some time for the companies with big money to figure this stuff out.
-+
Anything else you’d like the people to know about you?!
Follow me on Twitter @JonBoyBeats and subscribe to my Show Me The Data platform for in-depth Top Shot analysis, projections, market trends, and a really kick-ass Discord.
