Last week, OpenSea, the former frontrunner in the NFT marketplace, confirmed the layoff of half its workforce as the NFT markets seemed to bottom out.
gmoney, NFT collector and founder of 9dcc, joins Unchained to provide insight into the once-dominant NFT marketplace’s fall from grace. He talks about the competitive dynamics that challenge the platform's market share and whether a token launch could help. In addition, gmoney delves into why the NFT market has been “abysmal,” what could potentially catalyze its revival, and how he thinks creator royalties will evolve.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
whether OpenSea 'rested on their laurels' after becoming the market leader
whether the fact that its competitor Blur launched a token was a reason for OpenSea's fall
whether OpenSea not immediately following other platforms such as Blur in making creator royalties optional led to some of its decline
how gmoney wants to incentivize people to pay creator royalties
why the NFT market has gone down and what gmoney's thesis for NFTs is
what catalysts could cause the next NFT bull run, according to gmoney
how NFTs make it possible for certain groups to access new forms of credit
whether Ethereum can be displaced from its leadership position in the NFT market
what gmoney thinks could revive OpenSea’s prospects
Whether Blur's model is to blame for the decline in the NFT market
how gmoney thinks Blur should act to retain its market dominance
Thank you to our sponsors!
Crypto.com
Arbitrum Foundation
Phemex
Popcorn Network
Guest
gmoney, NFT collector and founder of 9dcc
Links
Previous episodes of Unchained and The Chopping Block debating NFT Royalties:
The Chopping Block: Did Blur Cause a Decline in the NFT Market?
The Chopping Block: Two on Two Debate: NFT Royalty Throwdown!
Are NFT Royalties the Way? How to Build a Sustainable Creator Economy
Decrypt:
Did Blur Really Crash the NFT Market?
OpenSea’s move to make creator royalties optional for NFT trades
Blur Overtakes OpenSea as Ethereum NFT Trading Skyrockets
The Crypto Times: Blur Jumps Nearly 30% Within Days While OpenSea Layoffs
Cointelegraph: OpenSea lays off 50% of staff with severance in preparation for version 2.0 launch
CoinDesk: NFT Lending Platform Blend Sparks Concerns Over Ecosystem Liquidity
The Information: Coatue Cuts Value of OpenSea Stake by 90% as Fund’s Returns Sag
Axios: The fight over a shrinking NFT market as marketplaces foresee next big boom
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Gmoney is one of the most prominent NFT collectors in the space, breaking into the scene with a splash when he bought a crypto punk for 140 ETH last year. He rose t become one of the best-recognized NFT collectors and is now becoming a creator himself. Given the current market crash is hitting all areas of crypto, Gmoney dives into how it's affecting NFTs. In his previous life, GMoney was a trader in traditional finance. We talk about how he went from trading stocks to trading non-fungible tokens full time and now starting his own project.
Thanking our podcast sponsors:
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On today's episode of Empire's Weekly Roundup, Gmoney joins Santiago and Jason to discuss CryptoPunks, IPs, and the creator space in the wake of this week and last week's news. Not only weighing in on the NFT space's tricky relationship with IP and creative commons rights, Gmoney discusses his own journey with self-branding in the space and outside of it. Santiago and Jason also cover $APE and the ApeCoin DAO, the vote results of last week's discussion on Anchor, and more.
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Thank you to Avalanche for sponsoring Empire. Avalanche is one of the best and fastest growing smart-contract platforms in the industry.
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Follow me and Santiago on Twitter, @JasonYanowitz and @santiagoroel; let us know what you thought of the show!
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gmoney holds one of the four knitted cap ape CryptoPunks, and is a prolific investor. From riding the dot com bubble all the way down as a pre-teen to buying apple calls in high school, gmoney has always been deeply fascinated by finance.
gmoney has a keen eye for the broad markets and makes informed trading & investment decisions. Since the start of the pandemic and crypto's subsequent rise, gmoney's tone has shifted to one of a 'disruptor' and 'futurist.' Falling down the NFT rabbit-hole in 2020 has demonstrated a character development of sorts, shifting from the harsh, objective financial markets to a more art-based, community-based one.
gmoney's approach to making money is fascinating, but perhaps not nearly as interesting or important as his role in the budding metaverse.
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----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures
----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures
At Non-Fungible Castle 2021, an NFT exhibition in Prague, four NFT experts debate some of the hottest topics in the metaverse, like how to value NFTs, whether insider trading exists, what makes Ethereum-based NFTS so special, and the environmental impact of NFTs.
Guests include Maria Paula Fernandez, co-founder at JPG, Kavita Gupta, cofounder of FINTECH.TV, Oliver Halsman Rosenberg, artist, and Gmoney, an NFT collector. Show highlights:
what an NFT is
why NFTs have value
what the “myth of decentralization” has to do with NFT valuation
why collectors like gmoney prefer to collect NFTs on Ethereum vs. other chains
how provenance and IP rights interact with value
why gmoney thinks Solana Punks are like fake Chanel bags
what “owning an NFT” actually means
whether newbies need to be protected from buying scam NFTs
the “rite of passage” of falling pretty to a rug pull and the concept of “do your own research” (DYOR)
what can be done about insider-trading-like activities in NFTs
how to navigate public-facing blockchains when your address is doxed
different ways to link off-chain assets to NFTs
what the crypto industry can do to better understand the NFT impact on climate change
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
Nodle: https://bit.ly/3AXGydJ
Episode Links
Non-Fungible Castle 2021
Website: https://www.nfcastle.com/
Conference recordings: https://www.nfcastle.com/conference
Twitter: https://twitter.com/nf_castle
Tweet thread of Laura’s experience at NFCastle 2021:
https://twitter.com/laurashin/status/1449731658928824320
Maria Paula Fernandez
Medium: https://mariapaulafernandezneglia.medium.com/
LinkedIn: https://www.linkedin.com/in/mar%C3%ADa-paula-fern%C3%A1ndez-no-social-selling-please-a96a8034/
Kavita Gupta
Twitter: https://twitter.com/KavitaGupta19
Oliver Halsman Rosenberg
Instagram: https://www.instagram.com/oliver_halsman_rosenberg/?hl=en
LinkedIn: https://www.linkedin.com/in/oliver-halsman-rosenberg-940a0935
gmoney
https://twitter.com/gmoneyNFT
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