NFT God Newsletter 8/25: BendDAO Under Pressure, Y00ts List Explodes, The Merge is Coming
The Daily Alpha 8/25- Happy Thursday everyone! In last week's newsletter I gave out my email address (email@example.com) and asked you to send me your thoughts on "1% better every day" and what it means to you. The responses I got from you guys and gals truly inspired me. A lot of you put some really deep thought into your replies. I got so much value out of the responses that I want to share them with you. So this week I'm changing around my formatting a bit. I'm adding a couple new sections, an email of the week and tweets of the week. The thought you guys put into your messages to me is so unbelievably appreciated so I want to share the value with all of you. Also keep the emails coming! Any thoughts or recommendations you have feel free to shoot to that firstname.lastname@example.org or just hit reply to this email. I try to respond to everyone as quick as I can.
Quick sidenote- last week and this week is the first time I'm including a sponsored section in my newsletter. I've never taken a penny in my life to advertise on my Twitter and will never do it, so I hope this sponsored paragraph doesn't come off as intrusive or hurt the quality of the newsletter. I hope the value you get out of this on a weekly basis is enough to compensate for the section. Anything I ever put in my newsletter that is sponsored will clearly be marked as sponsored. If you have any feedback at all on this please email me email@example.com.
Long intro I know. Anyway, onto the alpha-
1️⃣ Latest Twitter Thread
2️⃣ Sponsored: OWNIC
3️⃣ 1% Better Every Day
4️⃣ NFT Stories of the Week
5️⃣ Email of the Week
6️⃣ Favorite Tweets
Note: This week there is a sponsored column(marked as sponsored). Please DYOR before making any investment decisions.
Latest Twitter Thread:
OWNIC — ownic.com Own a unique piece of success
OWNIC is a licensed dynamic sports NFT platform spearheading the first-ever sports collectible where an athlete's career growth and performance are reflected on a card via innovative NFT tech.
With dynamic NFTs, collectors can put their NFTs to work by competing in games for rewards, staking their NFTs, unlocking signed merch, accessing the athlete’s metaverse, and governing a sports club through ClubDAO.
Soccer star Leonardo Bonucci, MMA legends like Glover Teixeira, Alex Pereira, and Rafael Dos Anjos have already signed exclusive deals with OWNIC. OWNIC is also an official partner of S.L Benfica and the EuroLeague basketball players association. Check out the OWNIC site above, and don’t miss the first officially licensed Leonardo Bonucci Drop Pre-Sale http://presale.ownic.com
1% Better Every Day: Motivation
This week's '1% Better Every Day' recommendation is from @hey_tariro who emailed me the above video from HealthyGamerGG. I thought this was an AWESOME video on motivation and ties into my motto of "1% better every day" really well. It's 24 minutes but I'd highly recommend watching it. Here's the rundown on his points:
Your actions determine how motivated you are at any given moment. The more positive actions you make (getting a task done, working on your resume, reading a book), the more motivated you get. The more negative actions you take (drinking, doing drugs, gambling), the less motivated you get. Positive actions makes motivational deposits. Negative actions make motivational withdrawals. Want to become more motivated? Start making motivational deposits with small healthy habits. That extra 10 minutes of reading a day will start a chain reaction. Motivation is a garden you need to continuously water and take care of.
You don't take more action because you're motivated, you're more motivated because you take action.
That 1 small action you take today can change your life and turn you into a super motivated person that accomplishes things you can't imagine.
Send me any recommendations you have for this column, would love to feature you!
🔥 BendDao Liquidated
🔥 Y00ts List Announced
🔥 Merge 3 Weeks Away. ETH Ranging
NFT LOANS TURN OUT TO BE AN AWFUL IDEA
The biggest story of the week was undoubtedly BendDao, a loan service that allowed people to put up their NFTs as collateral and get a loan in return. Say I had a Bored Ape that was valued at 150 ETH and put it up as collateral so I can get $500,000 as a loan. Now imagine the NFT and crypto markets crash and you can't pay back that loan. Also the NFT you put up as collateral is now worth 20% of the original price, so even if the NFT gets liquidated the lenders still can't get their money back. Basically everyone is royally screwed. Well this is what happened to BendDao this week, causing panic leading to additional selling pressure on the NFT market.
The cascading liquidations threaten to sink the floor prices of many blue chips collections further including BAYC, MAYC, CloneX, and Azuki. Lesson learned here: decentralized finance, especially exotic protocols that involve NFT lending are still not trustworthy. The market is just way too volatile and immature to risk your hard earned money for an extra few % of interest over your regular savings account
Y00TS LIST TAKES TWITTER BY STORM
NFT Twitter hasn't been able to stop talking about Y00ts the last few days. Over the weekend DeGods founder Frank starting rolling out the allow list for this new collection in a really unique way. Instead of doing the standard NFT engagement farming (retweet and tag 3 friends!) he allowed others to do the engagement farming, by having people apply for spots like a college then announce the winners 1 by 1. For the past several days a new winner has been announced on the y00tlist twitter account every 15 minutes, driving insane amounts of hype.
Disclaimer: I made the y00tslist, but the reason I'm mentioning this news story is because I think the marketing here is genius and I'm quite honestly surprised this is the first time I'm seeing it. By making people apply for the project Frank is getting people super emotionally invested. It makes people feel like they accomplished something when they get accepted. Then by announcing the winners 1 by 1, engagement is created organically on the announcements, rather than artificially like you saw with Ezu and the mass farming we saw with that announcement. It also creates FOMO for the people who applied but didn't get accepted. I wouldn't be surprised if this "application" meta becomes a thing and we see this way more often.
MERGE IS COMING
Every once in a while I like to do a "state of the market". This is another quick one for you. A lot of people are convinced this Merge for Ethereum will be a wildly bullish event. In all honesty I just don't think it's possible to predict how the market will react to this. Also, the macroeconomic environment couldn't be worse right now. Every risk-on asset is still down massive. We are at the very beginning of a bear market. Just a few months in. Every past bear market has lasted between 3-4 years. There is absolutely no reason to believe this could end in the next couple months. Please in the next few weeks do not get caught up in the FOMO or hype. We are still in an atrocious environment at the moment. You can never lose money on the sidelines
Email of the Week
This week Peter (no Twitter provided) sent me an incredibly thoughtful email on his system of self improvement.
He covered his self improvement journey and some observations he's made along the way. One line that really stood out to me is this:
You (or I) will always be seeking more knowledge, and the of feeling well-being is temporary (means it comes and goes) and relative (compared to other people). There is no 100% inner peace to be obtained. There is always a subtle feeling of lack and seeking. Even though one is outwardly very successful and happy.
I think a lot of people get caught up in the search for inner peace. What they don't realize is inner peace is impossible to obtain. The human brain is programmed to always be searching for something more. Always seeking new knowledge. Always looking for a new problem to solve. The best thing you can do is accept that you'll never truly be satisfied. Happiness starts when you stop pursuing happiness.
My Favorite Tweets of the Week
Thank you so much to everyone who's replied to my tweets or emailed me this week! Look forward to hearing from more of you soon! Take care and have an excellent weekend!