NFTs Twitter Spaces Summaries

8Aliens & NFT Market Trends

In this Twitter Spaces Summary (#TSS) of the NFT Morning Show, Pio.eth and friends review the latest NFT market trends and discuss 8Aliens.

In this Twitter Spaces Summary (#TSS) of the NFT Morning Show, Pio.eth, NFTNick.eth, and friends review the latest market trends and discuss 8Aliens.

n.b. Summaries are edited for brevity and inconsistencies may occur due to crosstalk or audio quality. The content presented is not financial advice. Do your own research and review the disclaimer below.

NFT Morning Show: 8Aliens, The Merge, and Market Trends

Pio.eth hosted the NFT Morning Radio on Aug. 15, 2022, with a runtime of 1:33:39 and 6.3K people tuning in.

Here is a summary of that Twitter Spaces.

Are you buying 8Aliens?

  • NFTNick.eth notes that he exited his positions. Pio.eth asks if he’s looking at buying anything on the NFT side. NFTNick.eth says no. NFTNick.eth talks about 8Aliens, and jokes whether it can take over Bored Apes 😆
8Aliens are collectible, interactive NFTs you can chat with.
Each Alien and its associated interactions are generated by algorithms and our Artificial Intelligence.
  • NFTNick.eth says he’s looking for a discount on the top end of the NFT market. Pio.eth mentions that 8aliens was a project that caused Nick to raise his eyebrow on the YouTube show. Pio.eth deflects critiques that it was outrageous for his show to suggest that 8aliens (an NFT project with 10,000 supply) would go down in price.

8Aliens has been created by Heptalabs a team of 7 artists and engineers working on turning NFTs into interactive experiences

8Aliens OpenSea Description
  • Kix.eth says he trashed allow-lists during the bull market, but he likes how 8aliens ensured a good portion of the NFTs were going to people that were bullish or invested in the project. A lot of the free mints get bought by multi wallets and sell at whatever price they want. Jesse Halfon talks about how the people that made money were in their discord.
  • Pio.eth notes that the most bullish thing for an NFT project is taking legit venture capital money. He mentions how the first bull run in the NFT space would be a fine art bull run and full adoption by the traditional art world.

NFT Market Trends Report

  • Signal (she/her) notes that overnight trading volume is 14.6 million, down from 25 million. She is seeing a pullback across the market, with BAYC at 79, MAYC at 13.7, and CryptoPunks at 69. Signal says the overall crypto is doing well, but the OpenSea volume is down in the mid teens.
  • Pio.eth mentions that Axie Infinity has removed token rewards from its classic game mode to attract users to a new game mode.
  • NFTNick.eth notes that authorities arrested a developer who wrote code for Tornado Cash.

How will the Merge impact NFTs?

  • Kix.eth considers a theory suggesting that ETH tops out at $2,200 USD per ETH. Kix.eth says the market may be seeing money out in the blue chip NFT projects based on his gut feeling.
  • Node says he put in a couple of offers on different Clone X NFTs.
  • Jesse Halfon offers technical non-analysis, saying ETH is going back to $1200 USD for a couple of months. But 2022 is the year of ETH – The Merge is coming. ETH is under-appreciated relative to the technicals, 2021 was the “Year of NFTs,” and “Bitcoin is for Boomers.” Narrative matters.
  • Pio.eth says there’s a case to be made for sure, and there’s a lot of uncertainty around The Merge and its impact on price.
  • BenJammin.eth notes that they’re seeing an NFT bleed after people get excited for prices rising. With the Merge scheduled a month from now, people want to stack ETH because they believe the price will climb due to the Merge. We’ll likely see more NFT bleeding until then.

focus on artists or creators that are trying to grow, rather than aping into NFT degen mints that are likely going to zero.

  • Pio.eth says it’s hard to identify which artists are favored by the market, but if you strike gold with that, you’ll get rewarded.
  • Spencer Gordon-Sand (“Spencer”) notes that they’ve been thinking about what happens post-Merge, and he feels giga-bearish on the NFT markets after the Merge. Spencer is surprised how well NFT markets have held up, and believes the markets have not seen true capitulation yet. He’s looking to enter positions on dumps and pick up large positions in a lot of blue chip NFTs.
  • Kix.eth jokes that he’s going to create a narrative around the proof of work NFTs. Then he’s going to accumulate a bunch of CryptoPunks, Art Blocks, Bored Apes, and make millions.

Which NFTs are worth buying? Which NFTs are scams?

  • Pio.eth talks about how there’s interest in Clone X succeeding because it was acquired for a lot of money by Nike. Pio.eth says he’s not bullish on [most?] NFT projects because they’ve taken money and not doing anything. Pio.eth notes that he could make a case that Moonbirds is a web3 business so long as Kevin Rose stays interested.
  • Node‘s Twitter Poll shows that 60% of people who voted said that it was the most likely “Top Tier” project to fade into obscurity.
Azuki starts with a collection of 10,000 avatars that give you membership access to The Garden: a corner of the internet where artists, builders, and web3 enthusiasts meet to create a decentralized future.
The Azuki NFT project is considered a top tier collection, but some question its long-term viability.
  • Pio.eth says they’ve seen loyal communities to projects that were scams. NFTNick.eth mentions that 90% of communities have been loyal to scams. Node talks about how there’s loyalty for projects that never crack one ETH. Pio.eth inquires if Azuki raised venture money. NFTNick.eth notes that there’s plenty of people that took money out, and there’s stories of misuse of capital. NFTNick.eth talks about how there’s a bunch of people who took advantage of the market and operated without integrity.

What signal do VCs convey when they invest in an NFT collection?

  • Node says the market is where it was in 2021. Spencer says he has mixed feelings on whether VC investment mean it’s a rug or not. He’s seen VC funded projects that tend to sell more new collections.Their incentive is to hit revenue and get acquired.
  • NFTNick.eth talks about how VCs have been dumping on retail consumers via tokens, so integrity is a spectrum. Kix.eth says they agree with Pio.eth: if VCs invest in an NFT company, it means you can take the rug risk off the table because they’re betting on their own. Kix.eth mentions that Nike is making sure this is a legit operating team.
  • Pio.eth notes that they are sick of NFT projects taking 80% of the primary sale funds and not hiring people. BenJammin.eth mentions that it’s a level of patience since hiring 40 to 50 people would take a while.

Note: this Twitter Spaces Summary represents only ~60 min. of the NFT Morning Show due to technical difficulties on our end. We’ll strive to capture the full show in future summaries.

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Disclaimer & Risks: This summary is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. The host and guest may hold NFTs mentioned on the show, but that is not an endorsement or recommendation to buy any tokens or NFTs mentioned. Please do not follow any opinion as a specific strategy. Using crypto applications, wallets, protocols, and tools may expose users to risks including, but not limited to, smart contract bugs, systemic risk, flashloan attacks, economic incentive failures, liquidity crises, admin key exploits, governance exploits, and pegged assets such as stablecoins or tokenized BTC de-pegging.

By Rod Fuentes

Authentic, exited startup founder. Exploring Web3, DeFi, NFTs. Co-founder @AlphaBack_xyz. Loves: coding, cooking, climbing, and CoLab machine learning 😜