Non-Fungible Token Good vs Bad

NFTs Pros and Cons: The Good, the Bad

Who are like on the project and it's called Dreamland Genesis and you know to check out their white paper like from for me at least you know I've been in the space for a little while and reading their white paper and then read like a white paper for, you know, one of these like rugs pulls and you'll just see the difference of the type of language, the type of bowls and you can see the even the heart in the White Paper. And it's actually like inner.

entertaining so if you're newer in the space and you haven't really read you don't know what's a good white paper versus a bad one at least from my like personal opinion I would say check out the dreamland genesis I'm not like calling guys if i don't even own one UM but if you you're interested in like what is a good white paper look like reading Dreamlike genesis see their road map see what their plans are and you know to watch them and see if they execute and learn a little bit before you inv.

Entertaining, so if you're like newer in the space and you haven't really read you don't know what's a good white paper versus a bad one. At least in my like personal opinion, I would say check out the dreamland Genesis. I'm not like calling guys, if I I don't even own one, UM, but if you you're interested in like what is a good white paper look like? Read Dreamlike Genesis, see their road map, see what their plans are and you know watch them and see if they execute and learn a little bit before

You can lose a lot of money, just you know the.

People in the NFT space who are like selling. They're like specifically targeting people who are not experienced with.

Flipping or buying or selling, so they will definitely take advantage of you.

And if you ever feel like rushing into a decision to buy something that should be like a little bit of a red flag. Uhm? Yeah, that's kind of all I wanted to say on that.

 

 

The title of this is good versus the bad and dumb. You know, like people don't realize the behind the scenes stuff crypto Mike mentioned. And I believe Joe de mentioned how you have these folks who.

The black market, right? The Black web and you know all the things with crypto in general, so now they use as NFTs as I invested in the NBA top shot and when it first came out I truly believed that people were money laundering just based on the price of some of the transactions. I think it was a way to launder money. I believed in the project because it's the NBA right? But I saw the downfall of it because I think a lot of that money was being taken advantage of stock.

These people with money are always going to find a way to get richer. They are going to take advantage of the man that doesn't have anything. The woman who doesn't have anything, so you have to find that fine balance of making sure that you're not the person that becomes the exit liquidity for people who do not need exit liquidity because they have more liquidity than any of us. And I hate hearing things like that, but I know it's so true. And it's one of those things that it's good to know. 

And he mentioned about alpha groups that you have to have $1,000,000 of $1,000,000. Sorry of crypto in your account and prove it in order just to be accepted into their discord group because they manipulate markets they move the needle and then they're able to drop. There's groups that crypto might have told me of people who have taken advantage of projects that have failed. They make their own version of that project. They literally take over the contract and then they manipulate it. 

So they want the community to have their backing of them. They want the community to believe in them and all they're doing the whole time is dumping their bags and I hate seeing it, but it's a.

those are pump and dump groups I don't like to call them I wouldn't call them alpha groups because they're obvious if they're calling themselves alpha groups they're right off the bat there.

Those are pump and dump groups. I don't like to call them. I wouldn't call them alpha groups because they're obvious if they're calling themselves alpha groups, they're right off the bat. They're they're miscommunication.

That they have an alpha group for it. I mean, cousin generally like in crypto and in stock trading and an alpha group would be like a guy that you're you're paying to basically provide you with some with the education he's not just providing you alpha, he's teaching you how to trade, right? Like I don't think there's anybody who's qualified because the markets themselves in the NFT space are so early on that you know they don't even have enough experience themselves to be able to say that.

Anybody who could provide that alpha would be just doing it for themselves at this time, taking advantage of the market being very early and taking advantage of those opportunities themselves. So if anybody is saying that they're providing alpha or it's an alpha group, pay to get in, and then if T space you know 99%, I would say. Personally, my opinion I could be wrong, but I I would say my opinion would be that they're full of shit.

Yeah, I agree with you on that for sure because we mentioned it all the time. It's still too new. So and the other point, I want to make two. Is that paying for whitelist grinding? You know how they pay people to grind for them to get them. These NFT spots on whitelist it. The best example I could get for folks who are new at NFTs and don't understand what we're talking about. Think of somebody paying somebody to wait online in a footlocker for them to get a pair of sneakers. Think of the people.

 

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Early access to sneakers behind closed doors. They're the ones putting the stuff up for sale before other people. That's the kind of stuff that we're talking about here and how it moves to the NFT space. The natural progression for most people on Twitter was similar to the route we got on Twitter because of sneakers. We went from sneakers to stocks. We went from stocks to options. We went from options to crypto, and we went from crypto to NFTS. I know there's quite a bit of people that if you're

Followed that as well as in between. There maybe did a dabble of selling off of Amazon, buying an Amazon listing on eBay and some of these other things that you see out there. You know if you're a hustler, you're always going to find the new thing that's out there, so a lot of you I know probably feel and resonate with what I mean by that. So I try to give examples that are easy to understand. Like that sneaker one, and I hope I hope some of the people that don't understand, really that help.

 

It goes without saying that we've all had bad, and we're all looking for the good, and I think part of like you said being a hustler is you're looking for that one good break or you're looking for that one good. Like if only I could just meet, you know two or three people that are good and think as I do then we'll all make it.

And I love love that optimism in crypto and in NFT's, it's like totally built from my personality because I am not built for a cubby and a cubicle or any of that fun stuff. 'cause, you know, I'm just not built that way. But I I wanted to ask permission before I said anything about the project that I am getting involved with because I don't want. I'm not, I'm not, you know, I did not raise my hand to show because I absolutely.

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First, they test that word because it's so derogatory and negative and ugly.

 

Exciting things happening as far as you know, like video game studios are, you know, releasing NFTS kind of as like a seed. You know, like a fundraising mechanism rather than taking investors, or like a VC.

So that's you know that's interesting too. And then you have, like you know, some staking NFTS you know.

Like an empty world for example.

With you know to separate good and bad on some of these profile picture projects. I just feel like you know to my earlier point when you have a blue-chip swinging $100,000 in a week like Bordi that could go from you know 70 E 110th in the in a span of a week and you know it could go up 30% and it's $100,000 price swing. I just feel like.

 

You know with Board 8 where they wear their status where they are at today most people that are buying board apes at today's prices are buying it for access. They're not buying it necessary for an investment if you're purely buying NFTs as an investor and trying to.

Make, that's fine, it's not. I'm not. I'm not saying to, I'm just saying that you would. You would probably want to look at specific projects, not not. Maybe not a PFD project might not be. Might not be right for you because the project is like bored apes like nobody is buying, nobody's paying $100,000 or $300,000 for a fucking boarding picture.