SOLANA NFT/DEFI/TWITTER ECOSYSTEM
the bit you
came for 2
part 2 from linkkzyy
Solanasensei looks back
is now the time
& MUCH more
FROM THE EDITOR
Linkkzyy looks at what is coming up #alpha
SecretSphinxes is in ont he conversation
Redacted_j on why projects should or should
not have an obligation
SolanaSensei with a history lesson
The Bit You Came For 2
Linkzzyy analyses what to look for ina
project. Part 2 #alpha
too good to pass on
CT21 collecting pieces while you sleep
0xGumshoe- what will it take to capitulate?
Kemos4be lays it out, plain and simple
A moment of silence in remembrance of all those NFT projects and 1of1s that have vanished over the last year.
Some, so promising. Others...
One piece locked away in the #SHILL vault this week but I thought I'd re-add my "Nimbus" because @arteovni
is nearing the end of their 100 mint for the Lucid Screens series.
#SHILL has its own NFTs up for auction on Exchange.art and now Formfunction too! Proceeds go to helping this
magazine grow and become better. All the World's a Stage is live now https://exchange.art/pixeltoy/ and Do
You See Me? https://formfunction.xyz/@Pixeltoy.sol/
The 'meta' over the last week has been about ROYALTIES. As such, this issue includes a couple of articles
focused on perspectives. We need perspectives. It helps us form our own opinion based on the evidence
A whole lot of content in this issue. NFTs to tickle your senses. Alpha to contemplate. Stories you may have
missed. It's good to know that at the end of the week you can rely on #SHILL zine to package it all up in one
convenient magazine that you can access when you are ready.
Ready to dive in?
Enough said. You know the drill.
My favorite Discord quote of the day:
"If you guys just tweeted
more FP would be better"
Keep your eyes on...
Secret Sphinx Society
The art is just so consumable imo. Some people dislike AI based art but I just think these things are so
adorable and well crafted that most people will see some cuteness in them. The team seems to be marketing
and expressing their thoughts well and in a vocal manner and they have an interesting plan in the
Stake 2 Orcs for 60 days; Receive an egg & baby orc.
You can then slowly upgrade this baby orc to level 10 using the native token; higher the lvl, more
Once your baby orc hits lvl 10 you can then purchase attributes to put on your baby orc and -
customize it. After all this, you can then scan your baby orc into AR or get it ordered as a realistic
3D figure. I find this so bullish because you can essentially build your own mini figure w/ traits
After this they envision going further but for now this is the core concept, with a small supply of 2222 of
these, I can see them pumping as 2 have to be staked together for 60 DAYS to get your egg. Likely meaning
the supply will squeeze very rapidly as more people aim to get their baby orcs.
Art is very adoptable and conveys an emotion or thought to you.
Vocal team, talking about things relevant to the project + Spaces.
Good organization between Discord & Twitter, minimal clutter.
Massive supply squeeze rooted in the project's utility.
Solid core values.
Organic growth appears.
Lack of call to action / community driving in the roadmap / ideas.
Would love deeper dives on the team; 3 line backgrounds doesn’t really allow readers to attach themselves to the
team or feel a depth to their person.
I like it a lot, I think they're cute. I think this team is totally
on the right track to building something really cool even if
it’s a little more niche. I also think a lot of holders may find
themselves sentimentally attached to the NFTs once they
have a mini figurine that’s been tailor made to its exact
traits and so on. I think this project has a lot of depth to it.
From waiting 60 days, to raising the baby orc and so on. I
think it’s super intriguing. There’s an inbuilt supply squeeze
as well so It’s likely to see favorable price action with time.
I think with the team providing some more depth on themselves,
a dope website, and really finding ways to get the
community involved, this first installment of the roadmap
may only be the beginning of something dope.
I uh- look. I don’t have any information on this, idk what is going on or what they’ll do but
the art is so ugly it becomes funny and the almost exclusive auditory + visual marketing
campaign is just so degenerate and funny.
I think these pump off meme factor or the development of a very niche community, overall
this shit is just funny as hell and there’s 0 harm in being early.
Also bonus points for;
Very active and vocal founder in twitter spaces.
Unique marketing idea with these weird dumb singing videos.
Truly bear market, goblin town vibes.
Art being idk, good? maybe? idk LMAO.
Project royalties— once again in the spotlight. Sounds
like time for another thread from the project who
played with royalties before anyone else, nine months
ago. Here’s why we did it, what we’ve learned, and
how we survived and thrived without team royalties:
First, some backstory: Our Sphinx collection minted on
Jan. 13th, 2022, with 5% royalties, but with a twist—
our custom mint contract allowed us to bind every
minter’s wallet to the specific NFT they minted, meaning
all our minters have received secondary royalties
Since then, they’ve received over 1,000 Sol in secondary
royalties, over 2/3rds of our original mint proceeds.
Our core roadmap design allows for the creator
wallet address to be swapped out, meaning new holders
can ‘steal’ the royalty binding for themselves!
Experimenting with royalties so long ago was a massive
leap into the unknown, and the re-binding game
theory of catch-and-release allowed us to collect
market data for months on how people chose to trade
when they knew they could control the royalties on
What we learned: -Long-term believers don’t see value
in royalties because they aren’t selling often -A small
% of nft’s get traded more because they cycle through
flippers’ hands -Not taking any royalties for the team
requires extremely precise treasury management
The last point is key in this new, 0%-royalty landscape
that we seem to be entering. Proper treasury management
is now critical to projects’ survival.
Things like: -Runway projections -Estimated gross/
net revenues -Transparency reporting are critical to ensure
that investors/holders know the team’s financial
standing and can make appropriate investment choices
based on those numbers.
Projects will also need to either: -raise mint costs to
fully cover their expected build, ship, and delivery
timelines -create revenue flow from business activities,
either ad-hoc or from full-time work in order to be
able to build out a full team of mods and other staff.
Another effect of this shift will be on project development
and team hires. Plenty of projects in the space
hire third-party developers to create their project
infrastructure: staking contracts, gamified contracts,
new mints, etc etc.
These will all need to be appropriately budgeted for,
but less royalties/funds will force teams to hire cheaply—
leading to more unaudited contracts, more potential
drains, and potentially less quality of development.
Third-party devs are already scarce as it is!
Where this is most detrimental is to pre-existing projects.
They’ll need to drastically reconstruct their budgets in order
to reflect the lack of royalties, especially if they’re: -older and
have higher FP -have large teams -don’t have an external revenue
New + unminted projects can more readily adapt to this
change and may even start to outperform some of the established
projects, as they struggle to adapt quickly enough. In
any case, it’ll be a massive catalyst for a new era of project
Returning to revenue streams for a second— We’ll likely see
stuff like ‘casinos’ and ‘launchpads’ and ‘accelerators’ become
standard, as projects hunt for a consistent revenue stream.
The market may become saturated in these, and quality may
start to suffer in turn.
Make sure you’re asking the right questions to teams, especially
when development and contracts are involved. Inexperience
can lead to fatal errors when dealing with contracts, and for it
to be done right, make sure they’re spending enough capital to
pursue top tier devs!
In the same vein, projects that will have a huge advantage in
this new era will be those who are owned by devs. In-house
development will become an intangible premium, since projects
won’t have to hire out, can pivot on the fly, and will have
more treasury to wield.
We’re grateful to be in a position where our actions 9 months
ago gave us the experience, we need to navigate this new 0%
royalty landscape. It’ll be interesting to watch teams find solutions
to revenue streams like we did and adapt in ways that we
never thought of.
Some projects will fail. This is an inevitable truth of entering
into a 0% royalty meta. We don’t wish failure on anyone or any
project, but it’s important for us as a space to realize this is
more a reality than ever before, and to prepare for this accordingly.
Some projects will succeed brilliantly, too, and personally I’m
excited about the possibilities. We’re proof that projects don’t
need royalties to survive and thrive in the Solana ecosystem,
and we’d love to share our experiences with everyone so that
everyone is better prepared.
Does BMW feel like it owes me something? No. It does not. But I have one sitting in my garage. However, when I talk
with NFT creators, they often feel a sense of obligation towards holders, like they constantly owe them “the work” and
What’s the difference? I’m a customer of BMW, you’re a holder of a shiny Ape. Why isn’t BMW doing twitter spaces giving
me updates all the time? Why do we demand so much of companies like DAA but not of BMW?
This is because the relationship between the holder and creator and customer and corp is different. And I think it comes
from the royalties. The holder is agreeing to give the creator the cut, in exchange for the work from them in growing the
Only now they’re not giving the cut anymore. They want all the effort for none of the pay.
If that’s the case, if the cut is zero, then what do they, the holders, become to the creators? Just a customer. Just as I am
to BMW. The economics are the same. A one-time purchase, followed by a secondary sale of the NFT is the same economically
as the car market.
The holders are still making big bets on which NFT companies will provide the best value. And NFT companies still need
to provide it. But NFT companies are no longer “in bed” to quite the same extent with the holders.
So now NFT creators have a new incentive: To try to sell goods and services to the holder that the holder wants to buy.
Whatever that might mean. It’s going to be different for every community. Because if they don’t, they make no money.
Following the allegory, BMW wants their resale values to be high because it keeps their primary purchase prices high,
so they produce long-lived products. They want that rep. But they don’t need royalties to have that incentive. (Actually,
their repair bills are insane).
I think this is a better system than one where the NFT creator is incentivised to help current NFT holder find newer NFT
holders at greater price. Sure, that works for a little bit but there is only really a few NFT collections that has survived
more than a year on it.
Now, one could argue these incentives are one and the same, really, but I’d say no. Right now, some projects on Solana
move >500k a month without ever selling a single product. That’s a hell of a lot of inertia to prevent real product innovation.
If you want to see a brand really scramble, take their revenue to zero, but leave them with all the eyeballs and holders
they had before. Trust me, they will come up with some beautiful and amazing product lines that increase the value of
the brand for everybody. It’s Darwinism.
The problem is that the drive to zero isn’t happening fast. Like the frog in the pot, it’s happening so slowly that they think
they can stop it by conjuring up parlor tricks to halt the progress. By the time they realize it’s too late, it’ll be too late for
most of them.
For those of you who were not able to experience the birth of Solana NFTs, I would love to describe to you how the
space looked like back then and tell you about a few of my experiences as a Solana OG. If you are a Solana OG, this may
be very nostalgic.
@SolanartNFT was the first marketplace in Solana created by SolPunks founders and initially used for @PunksOnSolana
only. All trades were done through Discord or Telegram prior to that. As Solana NFTs began to expand, they integrated
other SOL projects.
Solana NFTs started with SolPunks. They were the first Solana project to to sell out. They generated the initial hype and
momentum that triggered the entire Solana NFT movement. The SolPunks hype attracted the first ETH whales and big
investors in Solana.
SolBears are one of the most legendary rug pulls in Solana. They were the first ones to pull a big hard rug on Solana
thanks to the infamous Yogi. Sensei and many SOL investors lost a huge bag with these bears.
Another OG project that was temporarily very profitable for many was @SollamasNFT. They messed up various things
during their mint. There was a lot of FUD in regards to a few decisions made by the team, but many managed to flip
them for very nice profits.
SMB (PART 1)
One of the most recognized projects in Solana was and still is @SolanaMBS. OGs know that the minting experience in
the early days was horrible. Discords were pure FUD. I believe we waited about one or two days to receive our SMBs.
SMB (PART 2)
SMBs were CRUCIAL for SOL NFTs. At one point, aliens were going for 20 SOL and skellies for like 35 SOL aprox in discord
chats. Sensei paper handed many SMBs. I would have $1 million extra if I sold at the top. No regrets though, this is part
of the game.
DAA (PART 1)
I can confidently say that DAA probably had the greatest impact in all of Solana NFTs. Their Twitter account had more
followers than any other SOL project had prior to the minting. Their marketing strategy was unlike anything we had seen
DAA (PART 2)
While I was in Bali, my friend received a call while he was sleeping. He came running to my room to wake me up for the
mint. After the team changed the minting date and time various times, Sensei managed to mint 12 apes. (I bought a lot
more apes after)
DAA (PART 3)
I was never so confident in my FP predictions for this project. This was the start of a new chapter in the history of Solana.
These were some of the best days I ever had on Solana. FUD and negativity were pretty much inexistent.
Another marketplace that temporarily had a huge impact in Solana NFTs was @DigitalEyesNFT. Solanart was very selective
with the projects they listed, so many of the projects that didn’t make it would get listed here. (There was a lot of
SOLANA ECOSYSTEM These images are for TRUE OGs. We thought the SOL ecosystem was growing so fast when these
images went “viral” back then. We can’t even fit a fifth of the SOL ecosystem in one image anymore.
SOL REACHES $100 Solana hit $100 for the first time in history exactly 1 year ago. - August 30th, 2021 The speculation
surfaced majorly because of Solana’s Ignition teaser video, which featured a purple flamed lighter.
SOL INFLUENCERS Many influencers were here since the early days,
but most weren’t. Imagine all the big SOL influencers with less than
10k followers. I believe @SOLBigBrain was the first SOL influencer to
reach 10k. Also, shout out to @SolanaLegend
THUG BIRDZ Another legendary OG project with one of the most
insane Solana NFT communities was Thug Birdz. At one point Thug
Birdz went above 137 SOL floor price. This limited 3333 collection
was very easy to pump and OG holders were not willing to sell.
EXTRA OG MENTIONS
@FRAKT_HQ @KaijuCards @AuroryProject @BoldBadgers @ApeShitSocial @SolDogeNFT @peskypenguins @Galactic-
GeckoSG @SolariansNFT @kreechures @RogueSharks @unirexcity @FamousFoxFed @AbstraticaNFT @ROXcollective
Analyzing A Project’s Merit’s Post-Mint.
The Fun Bit.
Social Sentiment: To avoid rewriting the whole bit, apply
this stuff here. Who’s looking at the project, what’s got
people excited about it, how many people and so on.
Under this I would also keep my eye out for expansive
projects, by this I mean things like DeStables. Community
ran projects which add onto the expansion of the
brand/project itself. Additionally look for things like
custom items/collectibles being made; custom versions
of NFTs, custom shoes, clothes and so on.
Numbers & Metrics
Prefacing this by saying, personally I hate TA for NFTs. I
don’t think charting NFTs is a valuable way to trade specifically
when they generally cycle around news rather
than anything else.
If TA still fancies you, the one value I find is figuring out
which price barriers have the largest amount of listings
(aka, resistance). I would recommend doing this regardless
as it offers you an opportunity to sell at the resistance
and rebuy on a potential drawback for cheaper
and netting a neat profit already.
One thing to note when looking at resistance is the
speed of liquidity. If you hit some form of resistance in
FP and liquidity flowing in begins to slow it’s worth listing.
It is very likely that trading bots and people will see
the halt and begin listing/dropping the floor. However,
if liquidity is high; you may just get steam rolled out of
NFT Inspect: This can be a very valuable tool for reasons
beyond influencers swinging their willies in a battle of
who’s more narcissistic. Observe the community rankings
category. It gives you access to how many unique
individuals are rocking a PFP under this collection but
also the reach.
If you have a collection of say 10,000 and 60% of the collection
is uniquely rocking their PFP with a community
reach of 30% but their floor price is 2 SOL it would be a
buying indicator alone.
However, if the project has a large community reach but
a lackluster amount of unique PFPs; this is not particularly
a buying indicator, it’s more likely that an influencer
or person with a large platform is rocking it, which can
be nice, but it is nowhere near as useful as 2-6,000
people on the timeline marketing the project with each
tweet, reply, Twitter space, etc.
HelloMoon Smart Money: This one is a given nowadays,
so I won’t go into depth but it definitely has its
strengths. Make sure you don’t get caught in a short
term play that will dump on your head. Be proactive.
Liquidity: This is the most important thing with NFTs because
it dictates the value of literally everything. Your floor
can be any price but if there’s no liquidity purchasing at that
set price, it’s not really the floor price. Always keep track of
liquidity flowing into the things you are interested in buying
and if you see slow trends or a gradual daily increase, it’s a
good sign that there might be more coming in the near future
Ask Questions: Try to talk with the team, talk to influencers,
talk to people on the timeline, try to perceive what the mood
is towards the collection. Why are people buying, why are
they bullish and talking about it?
Buy the Rumor, Sell the News
This is a pretty common trading style and is usually successful.
I would not advise following it word for word, but the general
premise is useful in this space.
If you see a project that might be under the radar or slowly
creeping up in terms of volume, NFT Inspect or discussion,
it’s a great opportunity to look into the project and figure out
what’s coming next. Almost every bit of big news/announcements
for projects results in a positive price action even if it’s
10-20%. Taking advantage means you’ve just made a neat 10-
20% for simply being aware and selling to the latecomers.
I talked about this briefly in pre-mint analysis, but it’s always
good to look for quality insurance on the things you buy into;
- Are the marketing graphics dated?
- How does the website look?
- Discord ugly as shit and hard to navigate?
- Is the staking platform well made?
This is something I don’t see talked about enough with
projects implementing staking and native tokens. Why. The.
F*ck do you think tokenomics made from anything less than a
professional mathletics gamer is worth betting on?
It is such a core and key component of their ecosystem and it
requires INTENSE math and thorough design to actually make
not only a unique but sound tokenomics structure.
Don’t have faith in some monkeys releasing a coin without
proper design. If they are cutting corners, being lazy, or overtly
stingy with their funding, none of these are good signs.
Overlap w/ Pre-Mint
There’s some themes which obviously overlap which are as
Is the art good?
Is the team experienced?
Are their plans worth buying into?
Is there a vocal leader?
Socials? (Discord, Twitter etc)
If you have conviction on a project, then I wouldn’t concern
yourself with trying to get an absolutely bottomed
price. Make the market come to you. Bid, wait for drops
and so on, but don’t keep yourself waiting on something
you wanna vault, it can burn you.
Don’t fade metas and market trends. If you see it forming,
follow it. Eg, the early 2022 Branding hype. Late 2021
Utility hype. Going against the grain won’t necessarily
burn you, but it will restrict your ability to make money.
Don’t fade 1/1 Art. This is a subjective thing, but definitely
check it out, it may be worth it down the line.
Organization is key.
If you hate reading, use Chrome extensions such as Swift
Read to speed up the process.
If you can code, I’m sure you can build programs to speed
run processes and organize better.
Always try to ask the team questions. Put the gas on
them a little bit. You may not like their answer but if their
response feels controlled and calculated, assume they’ve
got a good pulse on what they’re doing or will present it
Always think in the mindset of the general population. It’s
not truly about whether you really like the art, the ideas,
or the team. It’s about if they are consumable on a broader
Don’t avoid placing bids, there’s always an opportunity to
snag an NFT cheaper by slapping a bid on.
You’re not bound to sell the top, you’re supposed to sell
for profit. If you hit the top great, if you sell before the
top you’ve still profited, don’t be harsh on yourself.
Have clear goals in mind when trading. What $ Value or
$SOL value do you aim to hit? Work towards it. If you hit
it, celebrate it and set a new goal. I found myself constantly
moving goalposts and felt an endless cycle of “I’m
not doing good enough”. Avoid this.
Security is paramount in this space;
Don’t click random links. Ignore any NFT you receive
that you didn’t buy or trade for. Legitimate projects do
NOT randomly drop NFTs. Always check with the project
before interacting. Generally avoid 2FA linked to a phone,
opt for email. Use a hardware wallet if possible.
Tools Worth Using For Trading
NFT Inspect Collections
Anything Famous Fox
Netrunner - From what I’ve gathered this is the best tax software
native to Solana.
Sol Decoder - Specifically the Fox Alerts. Gives you the ability
to get in on WL Token markets early.
Yawww - An option for royalty evadoooors.
ME Analytics - I find these at times clunky, but they can be
worthwhile on the fly.
Trading Bots - These aren’t something I can endorse, but if
you want them, you can find them.
Must Use For Alpha Hunting
#1 NOTION - You can LITERALLY get a free personal notion. It
is SO. SO. SO key to be organized in this space, it moves like
lightning and the more capital you accumulate the more NFTs
you will be buying at once. Having an organized notion will
allow you to track not only what you’ve bought & hold, what
you’re considering buying and also the projects you need to
research or are researching.
On-top of this, you can get an IOS App and Desktop App.
Have an, “Oh I gotta do this” while out thought? Slam it in
the to-do-list you’ve made. There’s pretty endless management
softwares out there, so feel free to look for something
which may suit you more. Tiago Forte offers good insight on
Solana Calendars/Upcoming mint trackers.
Mercury - This isn’t half bad for looking at projects which
have just been onboarded to Mercury’s WLing service. Can
occasionally find a hidden gem before its WL slots fill up and
snag an early spot.
Magic Eden Launchpad - Similar to Mercury, it’s widely
known, but you might occasionally stumble on some juice
keeping up to date with the projects running through this in
Influencer Following Lists & Liked posts:
This is a bit obscure, but for many influencers they will
receive loads of DMs daily from upcoming projects. If they
are anything like me, they usually follow every single one
that looks like it has merit from a first glance look. Tracking
some influencer’s recently followed accounts may help you
get ahead of the curb. Similarly, they get tagged in a bunch of
shills every day and they may like some of these. A quick look
at likes can provide some dope insight. I wouldn’t say either
of these are the most efficient or useful ways to hunt some
quality alpha, but the options there.
DAOs & Groupchat; These went very unnoticed until the last
few months, but forming GCs with people in multiple DAOs
(eg, a SMB, a Taiyo, a Degod and a Boogle) can potentially
give you indirect access to all 4 DAOs and can feed each other
any information or alpha inside of them in a mutually benefi
cial manner. Similarly, you can buy into a DAO or just use
a DAO you’re already in.
But Linkkzyy, I’m aware of this stuff and use it already,
where is the juice?!
Well, here’s the alpha hunting tactic that has helped me
find almost every sleeper, stealth, degen mint I've profited
Videos can’t be directly attached; so find the youtube video
Once again I want to slap in this disclaimer: nothing here
is financial advice. It’s just a list of highlights of promising
projects with condensed research & ratings. I implore you
to give them your own research and apply some of the
insight I gave you in the above pages.
—Existing Projects Worth Buying—
DeGods, y00ts, Taiyo Robotics, SMB, Blocksmith etc =
Liberty Square: I think the team is way too dialed into the
space and they’re doing a lot of unique shit with a very
experienced CEO in the web2 business world.
Aurory: I’m perma bullish on this team, it’s such a large
team filled with experience and the necessary funding. I
can’t wait to watch them in the coming years.
Sensei Labs: Art is not to my taste but I think if the listings
see some drastic drops we could see a nice pump down
the track much like BlockSmith’s arch.
NetRunner: The only Solana native tax software to my
knowledge and it appears to be the most efficient. I can
see a pretty clear play in buying a bunch and waiting for
the end of the financial year when people need them to
rent them out or sell them for a neat profit. If not; you
have your tax and portfolio management system covered.
Thugmonkez: I can’t believe I’m putting this here in all
honesty, but the team is stacked with connected and
valued people, the marketing has somehow been working
flawlessly even if it’s just shit copypasta, I see these going
higher. Holding the right amount of these gives access to
the upcoming project the Indie Cove which is worth doing
Lily/Lotus Gang: Don’t fade bunjil.
Obviously there are many good projects out there, but it’s
going to be up to you to do some of your own hunting.
Precursor Discussion to the upcoming mints list
A very common theme I’ve seen throughout my research
is a lot of ambiguity and a lack of voice from the team. As
a result, for some projects there isn’t a lot to discuss and
the bull case has to be centered around how adoptable
and pumpable the art is + the marketing style so far.
Other projects I find to be outstanding and am extremely
hyped to see their progress. Keep an open mind when
looking at these projects and remember this is not financial
advice, this is not the play to buy, this is a document
summarizing those which look promising and allowing
you to digest their content in short format.
Some may also have more “Cons” than “Pros” but always
remember the disparity between the importance of the
point’s which are pros and cons.
Also also; many of these lack mint dates, supply counts and
prices so you will need to track them actively!
Also also also, if a project has a revenue stream in the making
it will be in pros, if they do not, it won’t be there but any
project lacking a revenue stream model should be an instant
For those extremely fresh in the space, “Alpha” is generally
considered to be informative and most importantly early
insight into a project/investment opportunity. Alpha is any
discussion that makes you money. Ultimately, money is
what people want in this space, those who say otherwise
are lying or sitting on a life savings grand enough to feed a
small village for hundreds of years.
But let’s hit the deeper notes now: in an investment rich
space, the number one priority you have as an individual
is attempting to remove emotions from short term plays
and bolstering the strengths of your emotions in long term
plays. If you want to hit a blue chip, you need emotions, you
need conviction and sometimes you need to sink with the
ship, just like many DeGods holders did after its brief decline
in late 2021. However, if you want steady cash flow, you
need to remove emotions from short term plays.
Why is this important?
For me it’s quite simple, you need to acknowledge all positions
from an unbiased standpoint.
If someone screams “BEARISH!!” , you need to ask yourself:
why? As a long term holder, you need to think deeper, why
do you think they’re wrong? What can validate that? In
the case your research and thinking supports what they’re
saying and you simply cannot invalidate it, you must make
the decision, will you sink with the ship or will you cut your
Similarly in a short term environment your feelings DO NOT
MATTER. What is the public sentiment? What does price action
say? What does the liquidity say? WHAT DO THE FACTS
Align your mindset and come up with a plan before you buy
into a project so you don’t find yourself over leveraged and
over committed to something which could have made life
changing money, but rather sunk leaving you with pennies
to the dollar.
Alpha can be stumbling on a project with huge potential
early; but I encourage you to be more insightful and think
deeper. This is what will make you more money. Imagine
if you sat down with a friend at the start of this year and discussed
the global economy. You discuss the liquidity flowing
in and out of crypto and NFTs, ask what this NFT hype is
comparable to, and ask how that comparable event transpired?
I say confidently you could have stabled at $120+ SOL
just as I did.
Do not be ham-strung by a vision limited and narrowed specifically to NFTs and even more so NFTs on Solana. Remove
blinders and root your thoughts in authenticity.
You can also look at Alpha through mathematical lenses and what not but I don’t believe NFTs play into the traditional
meaning of Alpha. (Excess ROI after accounting for volatility etc.)
OG Solana Alpha Hunter Turned Builder.
Work w/ @TrippyBunny_NFT @TheAlphaDAO @SolApeFinance
CultureHacker - Odyssey suit - xZD1
CultureHacker - Odyssey armor - exoskeleton #1
CultureHacker - Odyssey suit - xBD1
CultureHacker - Odyssey weapon - Sonic #1
CultureHacker - Odyssey pet #1
Allégro by @CryptoVulture
SHILL Issue #78
Only Sky Is Higher Than Sky by @degenpoet
SHILL Issue #78
Time Machine by @degenpoet
SHILL Issue #78
TV Casualty by @lowbrownative
SHILL Issue #78
Seaside Line No. 2 by @a_masudii
SHILL Issue #78
Wild Strokes IV by @SAJNFT
SHILL Issue #78
Yakuza #21 by @rimamaiw
SHILL Issue #78
Vireo’s Eye by @a_meierart
SHILL Issue #78
Zombie Hours by @degenpoet
SHILL Issue #78
NY State of Mind #3 (Metro ID) #42 by @JTLissPhotoArt
SHILL Issue #78
NY State of Mind #4 by @JTLissPhotoArt
SHILL Issue #78
How far are you from Capitulation? NFTs were the only thing keeping the $SOL community alive and
well, but now the castle seems to be falling apart.
Capitulation is a term that defines the moment that an investor gives up and exits the market by liquidating
everything at major losses.
Although the act is just a moment, what precedes it is a multi-month/year long process of continuously
waking up to bad news, loss of liquidity, loss of value and stagnation.
This process is emotionally draining and can lead to depression & other mental and physical health
issues. I’m 2-3 months away from capitulating. However, that makes me highly BULLISH on myself, you
I have worked on my emotional intelligence long
enough to understand every phase of my emotion
cycle. Right now, I’ve accepted that I won’t be
making as much (or any) money than in last year’s
Exhaustion is starting to kick in. In 2 to 3 months,
I will want to give up and just start the year fresh
doing something else. But that’s the thing, I’m
aware, so I won’t give up and it will be 10x easier
to work through those emotions when/if they
The game becomes easier when the mind is
strong. What better time to work on it than in a
Bear Market that pushes your limits? Beat it and
you could achieve wealth that you have never
If you leave, where else are you going to find an
investment that has more ROI than Crypto? Nowhere.
So stay, even if you spend 10 minutes a day
checking the news & studying, but stay.
Crypto will change the world, maybe not as much
as we think when the bull run is raging, but it will!
So why leave?
Do you prefer the perspective of having to work
pay-check to pay-check for 40 years filled with regret?
Ask older people about their biggest regrets
and you’ll see yourself in 20 years unless you get
the strength to fight for your happiness.
Write your own mantra and repeat it. Act on it.
Live by it. I know this is something different, but
it’s what made me become financially successful,
so I had to share with you.
SHILL Issue #78
Without royalties NFTs lose 50% or more of their value
I will break this topic down into three main sections:
1. Broken Incentives — with royalties as the scapegoat.
2. Disruptive Potential — NFTs have very, very little
3. “Revenue Streams” — grasping for straws & very
shitty replacement for royalties.
Section 1: Broken Incentives
Incentive models have been broken since NFTs started
& they’re only getting worse. I’ll break this down into 3
parts: 1. The Past: Magic Eden & MOPI
2. The State of the Union
3. The Future: Without royalties, it’s worse
S1P1 Magic Eden is a masterclass in revenue maximization:
1. They charge 5-20% of mint to launch. 2.
They receive up to 10% of the royalties on an NFT they
launch. 3. They charge a 2% tx fee to trade on their
platform. 4. They also have VCs. GG, WP.
S1P1: ME launches projects they are heavily optimized
for MOPI (Mint Out, Pump It). This means royalties &
fees become extremely extractive: sometimes even
quadrupling the initial mint take. This was extremely
@MagicEden, especially with projects like @okaybears.
S1P1: The groundwork for the royalty’s debate was,
unintentionally, laid by @MagicEden a few months ago
when they were heavily promoting/marketing hyped
mints & eventual rugs. They optimized their entire
platform & the projects they launched for “Mint Out,
Pump It.” (MOPI)
S1P1: MOPI, a flipping-focused model, was pushed to
the extreme by ME:
SHILL Issue #78
They vigorously marketed botted projects like @ShroudedNFT, @DegentownNFTs, @kingsofdastreet, etc. This led
to obscene extraction via royalties — leaving many to believe that royalties were the “problem.”
NOW. To clarify — I’m not trying to lampoon @MagicEden here. Just giving my perspective. They’ve been stuck
between a rock & a hard place for months, and, they’re now in an impossible position. They built for an unhealthy,
immature, & nascent market & amplified those traits.
S1P2: The State of the Union
1. @y00tsNFT/@DeGodsNFT just farmed ~$2 million in royalties off of an unrevealed NFT, then virtue signaled
“0%” royalties after benefiting for months.
S1P2: The State of the Union
2. @MagicEden is now below 50% market share for the 1st time in 2022 bc of 0% royalty competitor. 3. Creator
incentives are blowing up like a pipe bomb inside of a PO Box.
yes, this 0% royalties will force projects to find revenue streams, but it also leaves no incentive to make the fp go
up or provide any holder benefits. why are you even in NFTs at that point?
S1P2: The SOTU
4. Degens are championing “sustainable revenue streams” in place of royalties even though: • Revenue streams
can’t be shared with holders (SEC) • ME can’t even claim its “revenue” is secure nor sustainable. • BAYC, Moonbirds,
DeGods, etc, don’t have them.
S1P2: The SOTU
5. Metashield & not “owning” your NFT. All of this ends up in a big, disgusting, royalty-farmed soup that ends up
creating a somewhat reasonable justification for removing royalties all together. But it isn’t that simple, not at all.
S1P3: The Future Without Royalties
It’s bleak: Soft rugs will increase. Hard rugs will increase. Mint prices will go up. Free mints will be less frequent.
De-rugs will cease to exist.
SHILL Issue #78
1. You’ll get diluted. Why have a limited supply if they
can just keep selling you NFTs?
2. They’ll leave, there’s no incentive to stick around.
3. There’s no incentive to pump floor price except to
sell you more NFTs. 4. It’s just a kickstarter with extra
S2P1: ALL of the following industries use royalties in
a major capacity & without royalties NFTs have ZERO
potential to disrupt them: — Music (Live & Recorded)
— Video & Film — Art Licensing — Digital Art — Comics
— Audio & Podcasts — Publishing — Journalism —
S1P3: “Nikes don’t have royalties tho.” Yep, and they
make millions of shoes a year to sell to you, justified by
*some* of them having a decent resale price. NFTs also
don’t get dirty or break. They’re a durable asset with
provenance; value over time is best (royalties).
S2P2: Without royalties you won’t be able to onboard
many creators to Web3 whatsoever. The only thing
that has ever convinced any of my “normie” friends
that NFTs are good has been royalties: Art creates perpetual
value & for the first time in history artists can
Section 2: Disruptive Potential
1. Disrupting Existing Industries
2. Onboarding Creators & Artists
3. Goodbye Grassroots
S2P2: The concept for a collection from an artist’s
perspective is that they can use the funds to create
something grandiose in scope. Participatory art on a
grand scale. This requires a team, teams require time,
time requires pay. No royalties, no pay overtime. DOA.
SHILL Issue #78
Section 2: Conclusion. Without royalties you essentially
make NFTs an entirely Web2 product. You pay
a centralized team once and then trust them to not
screw you over even though they have 0 incentive not
to. You stifle innovation. You remove 90% of use cases.
& NFTs suck
S3P2: Revenue Streams: The Meme This is quite
simple: There are no reliable revenue streams in this
ecosystem. As evidenced by Magic Eden losing 40% of
its market share in 6 months. Nobody knows where
NFTs are going — it is idiotic to stifle one of the major
S3P2: “Revenue streams” are good — but they are not
a wholesale replacement for royalties. I’ve seen dozens
of pieces of tech made irrelevant in a matter of weeks
by another party. PMF doesn’t exist for more than a
month or two for most projects.
S3P3: A Broken Promise The promise of NFTs was a new
structure of project, which allowed for more flexibility.
Sometimes it was bad, but other times leads to innovation.
Section 3: Revenue Streams
1. NFTs are a Financial Media Asset
2. Revenue Streams: The Meme
3. The (now broken) Promise of NFTs.
S3P3: As we hire devs who do web2 implementations
on the blockchain, and strip away our innovative business
structure (via royalties).
Why would anyone care to make a serious business in
web3 outside of shilling to the hype monkeys, in lieu of
a web2 business?
Right around here you should see a “see more” button
to read the rest of the thread. Make sure ya click it.
S3P1: NFTs are tradable media assets. All major media
conglomerates have huge royalty income. Every commercial
you watch, every movie you see, every song
you listen to is paying royalties to someone, somewhere.
Without royalties NFTs become a worthless
SHILL Issue #78
Diamond Hands Crew
Diamond Hands Crew Gen2.0
Diamond Hands Crew Gen2.0