NFT God Newsletter 9/8: Y00ts Mints Out, RTFKT Forges, Doodles Stops Tweeting
The Daily Alpha 9/8- Happy Thursday everyone! Traveling down the coast of California this week for vacation. This short break has given me some time to reflect on the space as a whole and how incredibly unique it is. I've had many passions and side hustles but there's been nothing like Web 3. The amount of connections I've made, the network I've built, and the genuine friendships I've gained in just a year is pretty remarkable. If you are in this space and have a Twitter I highly urge you to lean in as hard as you can. Tweet out your unique perspective. Reply to every idea you find interesting. DM anyone you want to make a connection with. Build your own network and opportunities. Web 3 is a flat hierarchy right now. Don't pass up on this incredibly unique opportunity. Put yourself out there and get as uncomfortable as you can every day. 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
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: My Morning Routine
This week’s ‘1% Better Every Day’ is about my own personal morning routine. I found putting focus and attention on the way I start every morning has totally changed how my days go and my overall quality of life. I've built this routine through a ton of trial and error and figuring out what works and doesn't work for me. It's pretty simple:
Sit on couch, close eyes
Spend 3 minutes focusing on everything I'm grateful for, 3 minutes scanning my body internally, then 3 minutes thinking about what I want to accomplish in life.
Make a coffee, write for 10 minutes about literally anything.
This roughly 25 minute routine pretty much guarantees no matter what happens in my day, I'll approach it with the best mindset possible. I've tried different forms of meditation but the ones where you just clear your mind don't work well for me, my mind is too busy.
Would love to hear your morning routines! Feel free to email me firstname.lastname@example.org with your thoughts or routines. I would love to feature some next week. Also include your Twitter handle so I can credit you and follow. Look forward to hearing from you!
🔥 Y00ts Mint Out After A Few Hiccups
🔥 RTFKT Begins Forging
🔥 Doodles Still Hasn't Tweeted
Y00TS MINT OUT AFTER A FEW HICCUPS
By far the most anticipated mint of the season went down on Labor Day as Y00ts finally hit the open market. Originally scheduled to happen last Friday, and then Sunday, the incredibly hyped Solana mint finally went down Monday night. Several issues including last minute smart contract bugs led to the repeated delays. And even then there were some issues, as network challenges led to many having to refresh their page for hours just to get their NFT. Volume has been insane, with Y00ts dominating the charts of every major marketplace.
Proceeding the mint, Frank has announced a seed round of 7 million dollars for Dust Labs, his Software as a Service company built around the Dust token. I personally find Dust to be the most interesting component of the DeGods ecosystem. Many utility tokens exist in the NFT space, but none have actual utility outside of merchandise. Dust seems to be the only utility token to actually have real use cases coming, as all of Dust Labs software will use the token. The idea is if the software is compelling enough, people will need to buy Dust to use the services. I think this is an awesome way to bring value to a token.
As for my take on Y00ts, I'm luke-warm but excited to see how it plays out. It clearly has a ton of hype, but at the moment there isn't a ton of information out on the actual product itself. We know it gets us into one of the strongest communities in NFT's, but past that not much is known. Right now you can fetch close to $5,000 for the NFT. In a deep bear market like the one we're in Frank will have to move quick with news in order to keep that floor stable. Will be watching closely as more info comes out.
RTFKT BEGINS FORGING
On Wednesday RTFKT began "forging", their interesting approach to Web 3 merchandise. Forging allows you to mint NFT's for exclusive pieces of merchandise that you can then later activate for the physical merch. By holding a CloneX, you can mint many pieces from a new merch collection, including t shirts, hoodies, and even Nike Air Force 1's. The controversial part of all this though- all the merchandise comes at a pretty significant cost. Hoodies, pants, jackets, and shoes are going for hundreds. Many CloneX holders spoke out on Twitter because they felt slighted by having to pay for the merch. They expected it all for free.
My take- expect way more of this in the future across all projects. I think the days of getting free stuff just because you hold an NFT will eventually come to an end. The revenue model of relying on royalties in order to run a business isn't sustainable. I think the only way for projects to survive bear markets will be to incorporate Web 2 models like paid merch and subscription fees. 99% of NFT projects are bleeding cash right now and relying on new mints to bring in revenue. Minting new NFT's only dilutes your ecosystem. Don't be surprised when the future of Web 3 is actually Web 2.
DOODLES TAKES AUGUST OFF
The ire of NFT Twitter seems to shift focuses each day. This week that ire was directed at Doodles. For over a month now the official Doodles Twitter account has been silent. While this might be alright in Web 2, in Web 3 most people find this unacceptable. This week Burnt Toast (founder of Doodles) tweeted from his personal account that he's had family challenges this month which has prevented him from being on social media, leading to a mix of reactions. Investors and holders came out in support, while a lot of the community still criticized the team for their silence.
Here's what it comes down to for me, NFT projects that have taken in millions and millions of dollars from their community cannot have single points of failure. Burnt Toast has every right in the world to not think about NFT's while he has family members in the hospital, but Doodles as a professional organization needs backup plans for when major stakeholders are not capable of fulfilling their duties. Imagine if Apple stopped shipping iPhones because Tim Cook was on vacation. They have many alternative plans in place in case and single resource becomes unavailable. This is the way all major companies work. Once you start taking in millions from your customers, you need to start acting like a well organized company. Takeaway: NFT projects need to start acting like real companies.
Email(s) of the Week
Last week I asked you guys to send me your favorite quotes to my email. Got a ton of responses, I wanted to include a few here. Thank you to everyone who emailed me. I sincerely appreciate each and every one of you. Any opinions or feedback on the newsletter? Send an email to email@example.com. Happy to have a conversation! Include your Twitter too so I can follow you!
Markus from Germany-
"Happiness equals reality minus expectations."
My take: happiness is a reflection on your perception of the world. If your expectations are too high, it'll skew your reality. Remove expectations.
Max from France-
"Move on & never give up."
My take: Your ability to move on from situations, both positive and negative is a direct reflection of your emotional intelligence. Made a mistake? Take out a lesson and move on. Had a positive situation? Reflect on what you did well and move on.
"If you spoke to others the way you spoke to yourself you would have no friends"
My take: We are our own harshest critics. Be conscious of your inner talk.
“Big doors swing on small hinges”
My take: small habits turn into big results. 1% better every day.
"Just because you can, doesn't mean you should"
My take: decision making is your most critical skill. Constantly work to make better decisions and avoid impulsiveness.
"I eat difficult conversations for breakfast."
My take: Strive to be uncomfortable.
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!