CryptoPunks: gmoney’s Ado About NFT Collector’s ‘Best Buys’

In January 2021, gmoney purchased Ape Punk #8219, the most expensive CryptoPunk at the time, for 140 ETH ($150,275 at the time).

Months before Beeple broke the sound barrier with his $69 million Everydays sale, the sale garnered a lot of attention thanks to gmoney’s Twitter thread thesis about CryptoPunks and digital scarcity heralding the NFT craze.

But that didn’t come yet and the cryptocurrency plummeted right away, taking the CryptoPunk low price with it.

Coming from a Tradfi background, gmoney got into cryptocurrency in 2017, but it wasn’t until late 2020 that he started getting interested in NFTs. The New Yorker has gone all-in on several high-profile collections and is currently involved in many more, including 271 Chromie Squiggles, multiple CryptoPunks, Autoglyph, multiple Beeples, and Justin Aversano Twin Flame.

Money’s first NFT of 2020 was CryptoKitty, but playing a lot of Fortnite at the start of the pandemic in 2020 was a big brain unlocker for digital ownership.

“I was playing a lot of Fortnite when quarantine started and I saw how much money these kids were spending on skins. I just realized that digital scarcity is definitely going to be a problem,” says gmoney.

“In my previous career, I was always looking for opportunities that I thought the market was mispricing. So, by chance, I came across cryptocurrency and NFTs.”

Although gmoney is currently focusing a lot of its time on 9dcc, an on-chain lifestyle platform and clothing brand, it remains a top force in NFTs.

‘ purchasetop’ With the most expensive CryptoPunk… for a week

gmoney recalls that when cryptocurrency prices began to fall significantly, he thought he might have bought the high with his purchase of Ape.

“Cryptocurrencies were shaking and Bitcoin was at $30,000, but when I bought it, it seemed like Bitcoin had retreated to the low $20,000s and I was like, ‘Holy shit, I literally bought the high,’” says gmoney.

“My response at the time was to tell myself, ‘Okay, this is a long-term deal.’ It’s always been a long-term deal.’ “I bought Ape for $150,000, so I thought I’d like to sell it at Christie’s or Sotheby’s within five years for about $5 million, but I didn’t realize I could do that in five months.”

“Especially in the first week, Bitcoin fell so hard that there were times when I literally thought I had just bought the high. Fortunately, that wasn’t the case and it was quite short-lived. I think it was about a week ago that Flamingo DAO purchased the Alien Punk for about 600 ETH ($750,000 at the time). That’s actually what led me to join Flamingo and then everything started going to shit again.”

FOMO after missing out on CryptoPunks at $1,500

Perhaps unsurprisingly, FOMO was a big factor in the purchase. That’s because gmoney was hesitant on CryptoPunks after missing the rise to $1,500.

While minting hundreds of Chromie Squiggles, gmoney credits Snowfro, Nate Alex, and Justin Trimble for persuading him.

“Snowfro was a great help while creating Squiggles. It was mostly him, Nate Alex and Justin Trimble that almost made me blush about the Punks. Because up until that point, I just wanted to find the next CryptoPunks,” gmoney said.

“At the time, the price of a punk floor was around $1,500, which I thought was too high. I was trying to figure out the next version of this and they criticized me pretty hard.”

CryptoPunks, Squiggly, Autoglyphs: gmoney’s NFT collector tHesis

Like prolific NFT CollectorsDC Investor and VonMises, Don has a long-term view on most of his portfolio.

“I would say I’m more of a collector who buys and holds, especially when it comes to art. I think especially about the collection we were talking about. I think they will probably become historically relevant over time,” says gmoney.

“There are only 10,000 Punks, 10,000 Wavy Lines, and about 500 Autoglyphs, so I think over time they will end up in museums as digital artifacts. You can’t include these.”

“So, I think it has slowed down a lot since the first half of 2021. There are just too many things coming out and too much supply, so I think it’s better to hold on to things that are rising less. “It’s already gone up too much, but it’s more likely to go up than something new I can make 10,000x or so.”

“That’s why you haven’t seen me do much with the collection since then, because I was really happy with what I got.”

gmoney also has an easy-to-overlook soft spot for Nate Alex’s on-chain Squiggly 100-piece collection, which launched in October 2020.

“I really like Squiggly’s and so does Nate. I think Nate is awesome and I think it’s pretty historic and will stand the test of time. And that’s just a very small collection.

gmoney says it has taken its cues from collectors like the VonMises, honing its eye for the nuances and desirable qualities of a collection.

“I remember after I made one of the Hyper Squigs, VonMises DM’d me and offered me something like 0.75 ETH or 1 ETH. I said no, I didn’t need the money, but at that point I already realized. He was a really smart guy, and if he wanted Hyper, someone else probably wanted it too,” says gmoney.

“So I tracked down all the people who were going to issue Hypers, and because of my interaction with the VonMises, someone actually bought one right after they issued a Hypers. “At the time, I had no idea what was rare, but I thought, ‘Okay, if this guy wants it, I’ll want it too.’”

Gmoney build On-chain clothing brand 9dcc

The birth of 9dcc, an on-chain clothing brand and lifestyle platform, in early 2022 was something gmoney had been thinking about from early on. He recalls a conversation with Pranksy, which originally began with a vision for a metaverse fashion brand, but pivoted the idea shortly after launching IRL clothing with Adidas.

Since then, 9dcc has become popular not only with cryptocurrency users but also with some celebrities and athletes.

“What’s really cool is that people who wear our products don’t wear them for the technology, they wear them for the design. I think that says a lot about the design,” he says.

“Huge compliments to our Creative Director. Because, above all else, we have to make things that people want to wear. “If we have this cool technical aspect and people don’t want to wear it, it’s just going to sit there.”

“But the fact that celebrities are wearing them and athletes are wearing them means they have good designs and added skill unlocks.”

The name 9dcc refers to the last four digits of the wallet address and gmoney seeks to convert mainstream consumers to the idea of ​​cryptocurrency and digital ownership.

“I often tell people, if I’m wearing a hat or a shirt or something, I say, ‘Hey, do you want a free NFT?’ Most people are curious so they ask you to take out your phone and then show you the experience. I think people have a preconception that NFTs are too expensive paintings,” says gmoney.

“I educate them that this is proof that they have actually met me. The only way to get this NFT is to meet me. In general, they think it’s pretty cool. Then they may or may not ask more questions. Although it doesn’t refer to it as an NFT as in the message, it leans more towards digital engagement. “It’s a digital experience that anyone can have.”

“We all have access to the Internet. That’s a digital experience, right? We visit the website. All these things. That’s just a feature of it, we have obfuscated all cryptocurrencies. I always use guiding principles. “If she can use it, like the North Star, for example, I know it’s good, but if she can’t, we still have work to do.”

Also read

characteristic

Australia’s world-leading cryptocurrency law is at a crossroads: the inside story

characteristic

‘Account Abstraction’ Powers Up Your Ethereum Wallet: A Beginner’s Guide

Quick Q&A with NFT Collector gmoney

Biggest NFT sale to date?

I took the gift when Bored Ape was around 0.5 ETH level. I sold it for about 79 ETH. The price at the time was about $270,000. That might have been my biggest sale.

Who are your three favorite digital artists?
1. XCOPY – The first one is XCOPY. My biggest regret from the last cycle is not getting XCOPY. I think the price is a bit high for what I want.

2. Get the most likes and die

3. Grant Yoon

When did you purchase your first cryptocurrency?

It was 2017. I remember trying to buy it around 2012. I saw that Bitcoin was at $27 and tried to buy it, but I couldn’t figure it out. I spent 4-5 hours trying to figure it out but I just couldn’t find it. I missed it, but it is what it is.

If you could pick just one, what would be your favorite NFT across all combined wallets?

I’d say my CryptoPunk Ape, but some of my other favorite artwork is Justin Aversano’s work. I helped bring him into the space so his stuff always resonates with me and means a lot to me.

What do you think are currently underrated NFT projects?

Cryptopunk.

Whose collection do you admire other than your own?

Off the top of my head I would probably say Seedphrase. I think he has an amazing collection.

Are there any emerging artists you think might interest our readers?

I think I’ll probably die with the most likes. I think he has a lot of followers in this area, but I still sometimes look at his follower count and it seems like this guy isn’t widely known yet. I like his shit. I think he’s fun and the best person to meet in person.

Who are your top three followers on NFTs?
1. Derek Edwards

2. Chris F

3. Aaron Wright

I think they’re definitely in this for the long term and they’re seeing trends first and foremost.

What advice would you give to someone just discovering NFTs who is curious and wants to experience it for themselves?

I would say take your time and be patient. There is no need for the market to go anywhere anytime soon. Find what works for you. You don’t necessarily have to do it to make money. Do it because you love art.

What is your advice for someone looking to survive in the cryptocurrency market for the long term?

No leverage, no leverage. No leverage required. The upside is large enough even without leverage.

links

X: @gmoneyNFT

gmoney wallet: /gmoney

gmoney vault wallet: /gmoneyvault

9dcc store: https://9dcc.xyz/

subscribe

The most interesting read on blockchain. Delivered once a week.

Greg Oakford

Greg Oakford is the General Manager of Upside DAO, Australia’s leading cryptocurrency and web3 collaboration hub and investment fund. He is an avid NFT collector and co-founder of NFT Fest Australia. Prior to cryptocurrency, Greg was a marketing and sponsorship specialist for professional events in the sports industry.

Follow the author @GregOakford