What is the significance of NFT? Why is it so expensive? How does it compare to other non-fungible items like branded apparel or even a Lamborghini? To answer these questions, GMoney spelled out his thoughts on how he sees the NFT supercycle and Blockchain metaverse in the decades to come.
G started his career in traditional finance, trading in equities for over 15 years. In 2017, he learnt about cryptocurrencies, blockchain and the metaverse, and he never looked back. Today, he is better known in the crypto space as his online pseudonym, GMoney.NFT.
GMoney.NFT is famous in the crypto space for becoming a pseudonymous identity represented by one of the 24 punk apes created by Larva Labs. He is most notoriously known for paying $150k for his NFT avatar, CryptoPunk 8219. A cautious looking ape wearing a bright orange knitted hat.
This year, GMoney.NFT has started a new venture fund with the team behind Delphi Digital, creating a new NFT infrastructure beyond the digital art use of non fungible tokens and helping other NFT creators to become a core piece of the long-term NFT ecosystem.
Delphi Digital is an independent research & consulting boutique providing institutional-grade analysis on the digital asset market. Delphi’s broad vision is to advance the understanding and development of crypto space. They will be part of the broader Delphi organization, comprising three existing successful and synergistic business lines which are Research, Ventures and Labs.
This year, GMoney has collaborated with Delphi Digital for the fund and they are planning to invest 80% of their fund capital into leading NFT networks that are creating NFTs and building new NFT tech to improve the ecosystem.
In this episode, Marc and GMoney delved into the subject matter of non fungible tokens (NFT) space and the metaverse: what they are, why we should care and why GMoney thinks that NFTs are here to stay for the long run.
GMoney spoke about how he learnt to understand the concept of NFT through Fortnite (yes, the video game), the different cycles of NFTs, and how the Delphi fund will be used to invest in the NFT infrastructure.
“There's going to be this massive Supercycle and visual ownership because that kid is 10 years old today, but in 10 years they're going to have their own disposable income and they're going to be totally okay with digital ownership”
“Just because I have more money doesn't necessarily make me smarter.”
“And now, people were spending eight figure on an NFT and nobody's questioning it for the most part”
“If I'm a celebrity and I'm just going to do a drop and sell it, that's basically a cash grab. That's not really doing much for the community, right? Like for my fans, my number one, fans, the people that are most likely to buy my things are my biggest diehard fans.”
“What is the escalation of the world that can afford to spend, you know, 15 to a hundred million dollars on a piece of art? It's very small, but what is the population of the world that will, that can band together and say, Hey, I want to own a piece of this. I can't afford it all on my own, but I'm willing to contribute X amount.”
“Now it's like, I see something real. I see tech being built. I see people that are actively building in the space. To me is real. Like if I were to think about this in relation to the.com bubble, I think right now we're in like 2007. Right. Like the, the ICO boom was the nineties and the 2000 bubble bursts.”
03:52 - GMoney’s background and history
06:26 - His first dip into NFTs
10:24 - The potential of NFT and what does it mean to GMoney
15:22 - The current state of the NFT community
22:37 - Explaining Crypto Punks and other NFTs
26:38 - GMoney’s first NFT purchase
38:57 - Purchasing the $150k Crypto Punk Ape
42:56 - Using the ape as his online pseudonym
49:50 - Breaking down the hype and price cycle of NFTs
58:49 - Delphi Infinft funds and it’s thesis of investment
01:07:00 - Outro Plugs
GMoney's Info
GMoney’s Cryptopunk
CryptoPunk NFT Sold for Record 140 ETH
GMoney Book Recommendation: The $12 Million Stuffed Shark
GaryVee Audio Experience: What's the Future of NFTs?
Marc's Info