The State of NFTs 2022: Collector's Edition
DegenMetrics DAO is an open source Web3 community for analysts, collectors, investors and BUIDLers to come together and co-create authentic insights on Web3.
tl;dr: I’m BUIDLing DegenMetrics, an NFT project for community and researchers to co-create authentic Web3 research and analysis.
Hey 👋,
Hope you guys are having a great day!
I’m barging into your mailbox because you’ve attended at least one of my sessions on crypto currencies on crater.club.
I’m Rohit, and I’m writing you at a time when our world is going through seismic shift.
The war in Ukraine has once against brought to fore the power of social communities to come together and empower the people fighting an uphill battle with one of the mightiest militaries of the 21st century!
The power of crypto-currencies, DAOs and the blockchain are starting to show applications beyond the coffers of high frequency algo traders waiting for pump and dump opportunities.
Before I got a full-time job in Crypto, I worked in trad-fi having worn multiple hats as an Equity Research Analyst, Financial Consultant and M&A (Corp Dev) with firms like EY, BDO and Mazars. Later, I quit that world to start my first business launching a boutique research service providing deep industry, market and technology research and insights to VCs and Founders operating at the intersection of Technology and Finance aka Fintech.
The last 8-months have been the most rewarding days of my decade long professional career. Web3 is exciting and brimming with raw creativity and cutting edge technology.
DegenMetrics is the first step in creating a DAO to co-create research with the community and offer authentic, high quality, original and actionable reports and insights into everything Web3.
The DegenMetrics NFTs will combine authentic art with utility value doubling up both as a symbol of your independence and relationship with the DegenMetrics commune 💝.
I’d love to have you in the community so together we can BUIDL the most authentic and practical resource to operate in Web3 like a pro 🕵️
The State of NFTs: Collector’s Edition 2022
The last 15-months has witnessed a meteoric rise in growth of the NFT segment. The success stories of NFT collectors on Crypto Twitter has spurred interest amongst many to get started collecting and flipping NFTs to turn their fortunes. While NFTs have proven to have strong intrinsic value in some cases, in most cases it’s just a random project trying to ride the wave and make a quick buck!
Report Intro
NFTs are digital IDs representing unique ownership on the blockchain for digital or physical assets like art, collectibles, in-game items, skins, or real world things like concert or sports event tickets.
NFTs are slowly moving beyond the world of comical art as big global corporations see a major opportunity in adopting the trend. Brands like Nike, Pepsi, NBA to Movie and Sports stars are leveraging NFTs to create new community owned digital products.
This report breaks down the NFT market into its sub-components with the aim to help first time NFT collectors to have a ready playbook of practical tools and insights to start their crypto journey.
The report is divided into five sections and each section. There are no inter-dependencies in the section, and as such each can be read and used independently. However, for first timers it’s highly recommended that you read it from the top.
What will we cover?
The report is divided into five main sections:
Intro section: What are NFTs and Why should you care. This is where we set the background of how NFTs were created at the first place, and a brief timeline of the major events that led to the creation of the multi-billion dollar NFT market.
Become an NFT Collector: First step is always the hardest. In this section we offer a framework for collectors to find (research process), understand (analysis process), and invest (buying process) in NFTs.
Quantitative analysis: On-chain data analysis of NFT projects. We discuss the key metrics to track, how to find and read those metrics.
Discovering Alpha: In this section we explore the underlying factors that separate potentially valuable projects versus copycats! We share case-studies of successful and unsuccessful NFT projects to get empirical insights into what differentiates the great from the rest.
Flipping NFTs: We share actionable strategies for first time collectors to take advantage of market movements to start flipping their NFT collections for profit.
Detecting scams and risks: In this section we learn best practices to detect fraud and risks of rug-pull in a specific project.
Tools and resources: A list of great Twitter handles, research tools, and other NFT related apps you can take advantage of to start your journey as a pro collector!
Next steps
I love the Web3 space. There’s just so much innovation happening that it’s hard to catch up. If you’re into Web3, DeFi, crypto or NFTs, then the best way to be a part of what we’re building is to join our Discord.
I’d love to hear about what excites you in Web3? Which protocols or projects are you most bullish on? What sparks your interest and curiosity in Web3?