Thread by Alex is Building
- Tweet
- May 15, 2023
- #Cryptocurrency
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If you were here in 2018, would you have bought CryptoPunks?
Most investors missed out.
I went through every CryptoPunk tweet from 2018 to find the patterns that set them up for success.
(And how to catch the hidden gems in this NFT bear market)
Here’s what I found.
🧵👇
Most investors missed out.
I went through every CryptoPunk tweet from 2018 to find the patterns that set them up for success.
(And how to catch the hidden gems in this NFT bear market)
Here’s what I found.
🧵👇
Okay, so let’s start by flashing back to 2018 ⏳
🧵 (1/16)
🧵 (1/16)
You could purchase an Ape CryptoPunk for $2,000.
(In 2022, an Ape CryptoPunk sold for $7,700,000)
Also shoutout to @Zoink for the early call on Museums.
🧵 (3/16)
(In 2022, an Ape CryptoPunk sold for $7,700,000)
Also shoutout to @Zoink for the early call on Museums.
🧵 (3/16)
Derivatives were already emerging,
But they were driven by a love of the original collection and not as a hyped way to launch a project.
🧵 (4/16)
But they were driven by a love of the original collection and not as a hyped way to launch a project.
🧵 (4/16)
Punks were featured at the very first NFT-NYC in early 2019.
Yes, NFT-NYC ran before the bull run of 2021.
🧵 (5/16)
Yes, NFT-NYC ran before the bull run of 2021.
🧵 (5/16)
When researching, I kept coming across highlights like this, which can be fun to share.
But as I looked through more and more old tweets,
I noticed a single consistent pattern that could be the key to unlocking gains in this bear market.
🧵 (6/16)
But as I looked through more and more old tweets,
I noticed a single consistent pattern that could be the key to unlocking gains in this bear market.
🧵 (6/16)
People who bought CryptoPunks in 2018 were buying them because they actually loved the Punks themselves.
Not because they were trying to pump their bags within a month.
🧵 (7/16)
Not because they were trying to pump their bags within a month.
🧵 (7/16)
They weren’t in a rush for the floor price to go up,
They had true passion for what they had gotten involved in.
They felt like they had seen the future.
And by being patient, they were right.
🧵 (8/16)
They had true passion for what they had gotten involved in.
They felt like they had seen the future.
And by being patient, they were right.
🧵 (8/16)
Imagine an NFT trader from 2023 being sent back to 2019,
Buying a Punk in January and being pissed because it didn’t moon by June.
They would have missed out on ALL of the upside.
🧵 (9/16)
Buying a Punk in January and being pissed because it didn’t moon by June.
They would have missed out on ALL of the upside.
🧵 (9/16)
In 2023, we’ve seen how quickly attention can shift.
A month ago it was Nakamigos,
Now it’s memecoins,
Next month it will be something new.
🧵 (10/16)
A month ago it was Nakamigos,
Now it’s memecoins,
Next month it will be something new.
🧵 (10/16)
We’ve seen this time and time again in Web3.
Those who buy into the hottest project of the month get burned.
Whilst the ‘boring’ choice, with a genuinely passionate community succeeds.
(We even saw this with BAYC taking a week to sell out)
🧵 (11/16)
Those who buy into the hottest project of the month get burned.
Whilst the ‘boring’ choice, with a genuinely passionate community succeeds.
(We even saw this with BAYC taking a week to sell out)
🧵 (11/16)
In 2018, CryptoPunks were a niche project, supported by a community of passionate holders.
In 2023 I see @Azuki, @pudgypenguins, @DeGodsNFT and many more creating the same culture and showing up every single day.
🧵 (12/16)
In 2023 I see @Azuki, @pudgypenguins, @DeGodsNFT and many more creating the same culture and showing up every single day.
🧵 (12/16)
Their teams and community don’t get distracted by the new shiny thing of the moment.
Instead they focus on building what they’re passionate about.
🧵 (13/16)
Instead they focus on building what they’re passionate about.
🧵 (13/16)
If you want to buy the next ‘CryptoPunks’
You need to buy something that you genuinely enjoy being a part of,
And that you’re happy to hold long enough to see the payoff.
🧵 (14/16)
You need to buy something that you genuinely enjoy being a part of,
And that you’re happy to hold long enough to see the payoff.
🧵 (14/16)
We all wish we bought Punks in 2018.
But how many of us would buy the same project if we saw it now?
To make gains in this bear market, find the underrated gems and be patient.
You’ll be rewarded in the long run.
🧵 (15/16)
But how many of us would buy the same project if we saw it now?
To make gains in this bear market, find the underrated gems and be patient.
You’ll be rewarded in the long run.
🧵 (15/16)
Hey, thanks for reading 👋
If you enjoyed, make sure to retweet.
I share threads like this every week, for more follow at: @AlexIsBuilding
✅ (16/16) ✅
If you enjoyed, make sure to retweet.
I share threads like this every week, for more follow at: @AlexIsBuilding
✅ (16/16) ✅
Hey I’m Alex 👋
I’ve invested in ETH at $45, worked with the NBA & built an NFT project.
I believe Web3 is the fastest way to retire early and do what you love.
Every week I drop a care package of shortcuts from 8 years in Web3 to help you get there 👇
grow-faster.beehiiv.com/
I’ve invested in ETH at $45, worked with the NBA & built an NFT project.
I believe Web3 is the fastest way to retire early and do what you love.
Every week I drop a care package of shortcuts from 8 years in Web3 to help you get there 👇
grow-faster.beehiiv.com/
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Sert @sertx92
·
May 15, 2023
Great thread ser!