SHILL Issue 58

@RoninRosewater
I swept a floor this am. Not gonna tell you what it is yet. I’m not a whale so it’s an affordable floor. Before I tell you, I want to
talk a little about value. How do we value NFTs, especially when thinking about mid-term investment, which in nfts is like... a
month?
NFT collection value is constantly being made up by the market. Like anything else in an open, competitive market short
term price is where supply and demand meet.
These collections all have their own value propositions and attempt to capture a niche in the market. We see utility, art,
community, and branding plays among other more specific ones. Solid branding has been the big trend recently.
Brand value is a term that describes the monetary value that can be attributed to a brand vs the generic version of the same
product. There are quality differences in the product as well as how it’s marketed or packaged vs others.
With NFTs brand value is being seen as a proxy for team’s ability and likelihood that they’ll generate enough hype to pump
the price. Most invest in NFTs bc they want a return, not necessarily a nice community or neat thing to build.
But brand value is highly volatile, especially when projects must compete vs other brands whose main niche is their brand
lol. So, in a bear market it’s generally smart to stick to builders, alpha groups, and projects that are creating something other
than hype.
Admittedly that hasn’t been the case recently tho with brand-based projects grabbing eth volume and pumping hard. This
has been good for Solana’s legitimacy. The value of a hype machine vs a community that’s building something can get really
out of whack.
The crazy thing about market price is that it is just a result of the group’s perception and willingness to buy/sell. You can
choose which projects are the most valuable. You choose by buying, holding, and raising prices on listings. When enough ppl
do this the market moves.
I know this is obvious stuff but it’s important to remember that there’s a collective choice by the group that sets price. To
me, we should choose to put value in community and projects that build along with the hyped brands whose community is
based only on FP go up.
To some extent we do that, but really price is just made up bs most of the time from most of the market guessing, so you
can’t expect the prices between projects to be proportional to their value.
So, if we remove project names and did a blind taste test and I told you one project has some of the best art in the space, a
doxxed team with many heavily connected and invested in the market, a manageable short term roadmap with many long
term prospects...
and an extremely inviting, helpful, and personable team in discord while another project had art that reminds you of a project
that blew up but is different and their play is just branding and hype, which of those sounds safer in a bear market?
Which of those would you choose to reward? You may have guessed from my pfp that the floor I swept was @dreamcitynft.
This project is creating web3 things, stories, art, community with a purpose.
It’s led by a story savant, and talented 1/1 artist @wakeupbrandon. I assure you that no artist on Solana doesn’t like this
man. That means he can connect with them and collectors grow and create.
Shmokey @ShmokeyMcRekt
@wakeupbrandon, we have a problem. I now have 33 + am STILL seeing more @dreamcitynft Orphans I want to sweep.
Artistically so much more than most PFP collections coming out. And the cyberpunk lore/storytelling your team is sharing in
Discord, just makes me love this work more. Honestly, I think every one of the @dreamcitynft Orphans is a gem.
To me, 6 = 6x the rad, fren :)
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SHILL Issue #58