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🎁 Wrapped: The Weekly Web3 Newsletter - January Musings

🎁 Wrapped: The Weekly Web3 Newsletter - January Musings
By Futureproof • Issue #12 • View online
January Musings 
By @DepecheNode_

NFT Waves 
NFTs will be responsible for onboarding millions of new web3 degens. We are now in the middle of the largest wave to date, and it’s unlikely to slow down anytime soon. Here’s why:
  • ETH is ~50% off - affordable eth creates a favorable environment for trading NFTs
  • Integration into pop culture & celebrity adoption - this is speeding up, not slowing down
  • Coinbase NFT platform coming soon™ - opens the door for tens of millions of Coinbase customers. For reference, only 3 million people in total have bought NFTs so far. 
  • Music NFTs are just getting started 
  • Each project has the opportunity to onboard brand new cohorts - punks, apes, veefriends, and doodles all have unique appeal to different audiences 
  • Better tools are coming - Coinbase NFT, LooksRare, Genie, and Gem all offer new tools to improve the buying & selling experience. In addition, Opensea is rumored to be opening up its doors to the Solana ecosystem.
  • NFTs are effing fun & incredibly versatile in scope. Defi is amazing, but it’s not going to onboard the masses. 
*Warning: It’s hard to tell the difference between froth and adoption. We’re likely seeing a little of both at the moment. Also, adoption != your bags going up. 
Uncertaintyďťż
Adaptability is the key to winning this game. Learning to hold conflicting emotions and viewpoints at once in the mind will be a crucial skill moving forward. Here are a few headlines from the week. As usual, it’s a mix of good and bad. Identifying what is noise vs what could materially impact the future is a superpower. 
  • The Biden Administration taking executive action on crypto regulation for ‘National Security’
  • Texas advocates for BTC miners, Arizona introduces proposal to recognize BTC as legal tender
  • Some crypto traders declare the market has bottomed out, others warn of greater bear market structure
  • Stock market notches one of its most volatile weeks in the last year 
  • BAYC breaks 100 eth floor, celebs aping in, token imminent 
  • Azuki rockets to 8 eth floor in one week, PFPs pumping across the board 
  • Generative art showing signs of life, chromie squiggles back to 9 eth floor
  • NFT haters seems to be growing at the same rate as overall NFT interest
You realize we all have less than one year of ‘experience’ in NFTs, right?
You realize we all have less than one year of ‘experience’ in NFTs, right?
High levels of uncertainty = high levels of opportunity (and risk). Take time to evaluate what risk level is appropriate for your situation, and set yourself up to take advantage of opportunities when they arise. For me, this meant putting a chunk of my portfolio into stablecoins at the beginning of the year. It created psychological freedom and headspace, and has allowed me to reinvest in more NFTs during this run up. 
Weekly Highlights 
  • Frog Nation (and defi) gets rocked after @zachxbt does some serious investigative work
  • Crypto industry leaders launch gmi PAC to support crypto friendly politicians
  • YouTube CEO exploring NFT integrations 
  • Apple CEO ‘investing in the metaverse’ 
  • FED meeting goes as expected, rate hikes incoming 
  • First 1,000+ ETH ape sale (Ape #232)
  • Weekly Winners: Apes 110, Punks 82, Azuki 9, Doodles 14, Clonex 13, Cool Cats 15, ABS .8, Mutants 20
  • Weekly Losers: Galactic Apes 5, Cryptoskulls 1.6, Neo Tokyos 25, Creature World 1.2, Phantabears 2.2
🚨DISCLOSURE: I own NFTs! I own punk #2971 if you’d like to dig around.
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Futureproof

Explorative, web3-centric market analysis and digests. Advisory and Angel updates.

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