I recently reached the first big milestone in any collector's journey... 100 NFTs!
I joined OpenSea in March but bought my first NFT on May 30th, a bug eyed piece from the Humans of 2074 collection, 5 months later with the purchase of Modular from OneRobot. The Classics. I've now hit the century.
My 1st and 100th NFT.
If I could sum up this exciting experience in two words it would be "learning curve", I did a fair amount of research before I jumped into NFTs but I still think I was really unprepared, it's a whole new industry and it's developing so quickly each day, we can see the benefits and the direction it can take but whether it goes that route is up to the community in my opinion.
On one hand we can see that DAOs would be hugely beneficial and artists now have a huge platform to sell their art directly to collectors with low barriers of entry and minimal broker fees. Plus any sort of community project that brings people together to create, innovate, and return power back to the people would be a beautiful thing. Sadly it's not all positives, there are plenty of people within this space that are there to disrupt and scam people which is such a short sighted thing to do, but I guess they don't care about that anyway as long as they make a quick dollar.
One of the things I like about the NFT community so far is that most of the real world nonsense is kind of cut out, there's no stupid arguing, needless division, identity politics and politics in general is rarely discussed, people are united behind the common goal of reaching the potential we all believe this technology has, and of course banking some profits along the way. Open Discord or Twitter to find people from every corner of the globe greeting each other with a simple "gm" any time of the day, the sun's always rising somewhere!
I've found some great people, artists, developers along the way. The Collector Chronicles and Punkscapes being a couple of examples of great work with strong communities that are a pleasure to be part of and watch develop. For every success it seems there are a hundred failures, thankfully I haven't had that many but I've had my fair share, HypeHippos being the worst so far but there are at least 2 more projects I'm in that are likely abandoned, it's frustrating how some seemingly strong roadmaps and team can very quickly disappear and a project collapse.
I enjoy reading through upcoming drops, seeing what plans people have for their projects and trying to understand what is likely to succeed that is also within my price range. We've all seen the stories of people flipping NFTs for hundreds of thousands, even millions, unfortunately that hasn't happened to me yet but I remain hopeful!
Living in the UK means that checking world clocks becomes a constant habit, I was pretty much living on Eastern Time for a couple of weeks before I decided it wasn't healthy! It can be frustrating with late drops in the US, for instance the Boonji Project was due to drop at midnight here last night, that's not too late for me so I waited up, it then gets delayed an hour, then another hour, so I'm awake until 2am midweek only to get the announcement that the launch has been postponed. This has happened to me a few times, I was awake til 4am once only to be told the launch was cancelled. I understand these things happen and it's probably something everyone has experienced at least once but with such a fast moving market if you're not there then you miss out so it's a sacrifice sometimes you have to make.
Compared to my purchases I've made very few sales, I think it's because all my NFTs fall into 2 categories, "Keep, it will be worth loads one day" and "Sell it, the project is dead" so naturally the only thing i'll be trying to sell is dead projects and only a complete fool buys a dead project...which I have also done.
With the announcement of Coinbase entering the NFT market we are likely to see thousands of new people joining our community, with that comes new opportunity and new collectors, it can only be good for the market certainly in the short term. One thing that hopefully is cleared up are scam tokens, in the spirit of crypto I am really against having to verify your identity to be able to join in and I hope they do not introduce verification to launch projects. I would much rather see code scanning or something like that, where code is scanned for known issues before uploading to marketplaces. If that's possible.
After the last 6 months of experiences in this new world I am excited to see what the future brings, the potential is huge, there are also possible issues on the horizon with regulation and more sophisticated scams but if we can navigate our way through these obstacles then this is life changing technology, both financially as well as everyday usage.
Anyway, I'm probably going to spend the rest of the day browsing OpenSea activity and getting lost in Twitter looking for the next big project or some eye catching art, as I write this I'm currently sitting on 105 with this piece from Bonshiki Art my latest addition.
✌️
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