NFT God Newsletter 8/18: Bored Ape Yacht Club Space is Boring, NFT Royalty Debate, Blue Chips Dip

The Daily Alpha 8/18- Happy Thursday everyone! New section I'm adding this week- the "1% Better Every Day" section. This has been my mantra and mindset for a while now and the biggest reason in my opinion I've grown to the size I have. I believe the most powerful life changing hack you can implement is improving yourself just a tiny bit every day. The compound interest you get off this habit is life changing. Seriously. In an effort to try and share this mindset with you, my reader, I'll include one link to a tutorial, video, or book every week. If the content isn't for you feel free to skip the section, no pressure. But if a tutorial or book resonates with you feel free to reply back to this email. I read and write back to anyone who responds to my newsletters. Feel free to email me directly with feedback too: [email protected] . Also happy to hear your self-improvement recommendations. Email me with any books, tutorials, or small habits that have been beneficial for you! Anyway, onto the alpha-

Latest Twitter Thread:

1% Better Every Day: CryptoZombies

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This week's '1% Better Every Day' recommendation is CryptoZombies. I've talked about this programming tutorial a few times on my Twitter feed but I think CryptoZombies is by far the best way to learn Solidity for beginners. If you are into NFT's or Ethereum I couldn't recommend picking up Solidity enough. It's the programming language that powers the smart contracts behind NFT's. Even with no programming experience Cryptozombies is a fun, easy tutorial. Learning these kinds of tech skills will instantly boost your professional value. My challenge to you: spend 15 minutes a day this next week working on this tech lesson.

Today's News:

🔥 Bored Ape Twitter Space is….Boring

🔥 Sponsored: OWNIC

🔥 Eliminate Royalties?

🔥 Blue Chips Bottom Out

Note: This week there is a sponsored column(marked as sponsored). Please DYOR before making any investment decisions.

BORING SPACE YACHT CLUB

Last night the Bored Ape Yacht Club Twitter account hit 1 million followers, a new standard for the NFT space. Days before hitting this major milestone the account tweeted out a teaser, simply that they'd be holding a Twitter Space the night they hit a milli. Speculation was rampant. Would they tease Otherside? Would they release the Kodas? Would they airdrop everyone $100,000 for free? To the disappointment of most, none of those things happened. Instead, it was a multi hour marathon of the founders talking about themselves and how they got so successful. No news was given, no free money was handed out, and the metaverse still hasn't arrived.

It's unfortunate that impatience overshadowed a major cultural moment in web3. I think it just further highlights the most valuable currency in the space: hype. Hype is the sole determinant of where a price goes. Utility doesn't matter. Team doesn't matter. All that matters is emotion and speculation. Why do you think 10KTF and Gucci Grails floors have held so strong despite the bear? 10KTF has done a masterful job of slowly releasing bits and pieces of a puzzle, never revealing the big picture. With BAYC at the moment, we have a view of the whole picture. It's a video game. And while there's some mystery around the full game experience, the hype has gone away. Holders need something new to speculate about, and unfortunately for them that was not delivered last night. In a space that is filled with impatience, those who are patient will be rewarded the greatest.

SPONSORED: OWNIC

OWNIC — ownic.com Own a unique piece of success

OWNIC is a licensed dynamic sports NFT platform spearheading the first-ever sports NFT collectible where an athlete's career growth and performance are reflected on a card via innovative, dynamic NFT tech. This is achieved by integrating off-chain data and introducing an xP power concept.

xP represents an NFT power and increases based on an athlete's achievements as well as gamified elements such as attaching wearables to the card, rarity, and performance in competitive games. xP links physical and digital worlds and unlocks multiple rewards, utilities, and unique experiences

With dynamic NFTs, collectors can be a part of an athlete's journey and put their NFTs to work. OWNIC dNFT holders will be able to compete in games for rewards, stake their NFTs, unlock signed merch, access athlete metaverse, and even govern a sports club through ClubDAO.

Soccer stars like Leonardo Bonucci and MMA legends like Glover Teixeira, Alex Pereira, Rafael Dos Anjos, and others have already signed exclusive deals with OWNIC. OWNIC is also an official partner of S.L Benfica, EuroLeague basketball players association, and other global sports brands.

Check out the OWNIC site below, and don't miss the first officially licensed Leonardo Bonucci Drop Pre-Sale http://presale.ownic.com

OWNIC -Licensed dynamic sports NFT platform with multiple utilities. http://ownic.com

NFT ROYALTY DEBATE RAGES ON TWITTER

It seems every week brings a new debate into the NFT world. This week the big debate was around if projects should continue to have creator royalties. On one side people argued that royalties are sucking liquidity out of the market, rewarding founders who most of the time don't deserve it. On the other side, what incentive do creators have if there are no royalties? I refrained from joining the debate on Twitter but I decided I'd include my thoughts in this week's newsletter. I just don't believe royalties are a viable revenue model for NFT projects outside of art projects. Royalty streams are largely dependent on market conditions. In bear markets like the current one, volume has all but disappeared and ETH prices are at yearly lows. No projects outside of the top 5 blue chips are making any kind of money right now through royalties. None. If your project didn't raise millions from VC's or keep a fortune in their treasury from the bull market, you are probably broke right now.

This is just not a viable or sustainable business model. Whether royalties are justified or not, I believe in the future when actual businesses are built around Web3, royalties will disappear. They are just too unpredictable for legitimate businesses to be structured around. I think what you'll see from projects looking to sustain an actual business is revenue models like you see in Web 2 today. Free merch will start to disappear, replaced instead by token gated ecommerce stores. Lifetime passes are guaranteed to be a thing of the past. Those 20 analytics tools that launched this year with a lifetime pass are all making a collective $0 in revenue right now. These will all be replaced by subscription services. Which raises the question, if all of these NFT projects adopt web2 revenue models then really what is web 3 other than web 2 businesses with a token on the blockchain?

BLUE CHIPS GO LOWER THAN LOW

Absolutely brutal week if you're holding any blue chip project, as almost all of them saw massive dips to new 2022 lows. It seems the only projects doing well are CryptoDickbutts and whatever derivative is being wash traded to get on the Opensea rankings. What makes this cratering even more painful is the fact that global markets have been generally bullish over the past several weeks, with stock and crypto prices having one of their best stretch runs of the year. If you are one of the many people who have a large portion of your portfolio in NFT's you probably have had a very frustrating week. I've been preaching the following for months now, even during the bear market: please keep a balanced portfolio. By being responsibly invested in many different areas like stocks, commodities, crypto, retirement, savings, and yes NFT's, the kind of pain the NFT market has faced over the past month won't impact you (as much).

It doesn't matter if your bags are down massive. I'd still highly recommend rebalancing to ensure your portfolio is more risk adverse and less volatile (NFA but kinda FA). I posed a question on Twitter this week asking if people needed resources on stock investing. I got 100+ comments and 100+ DM's asking for stock investing information. There clearly is a need for this type of education in the Web 3 space. I'm putting together a thread and will post shortly with how I learned about stock investing and how you can get started. I really hope this will be beneficial for everyone to read.