Insights from 6529

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Behold the mind of NFT philosopher @punk6529. I studied his 64 threads and distilled the insights from each below. (1/84) 🧵

TLDR: · gm · WAGMI · Use a hardware wallet · Ppl need the freedom to transact · We must build an open metaverse · Memes run the world & we must seize them · Don't let institutions steal your memes

Here's an index in case you want to skim through the threads (my favorites are highlighted). Alright... let's dive into thread #1!

1/ Don’t Let the Institutions Steal Your JPGs NFT holders can refuse to sell, unlike fungible tokens. Institutions have more $ and can end up with more NFTs if we sell to them. Selling out hurts decentralization and chips away at NFT culture. (ps, this is for NFT whales) twitter.com/punk6529/status/1423370458494341129

2/ JPGs Myths enable humans to coordinate and grow at scale. Eg, Nike is a myth that exists more in our minds than reality (its products, ppl, logo, etc all change but we still believe in "Nike"). NFTs are the fastest and most scalable myth transportation layer ever created. twitter.com/punk6529/status/1424127515476598796

3/ Decentralization & NFTs The internet and ML could lead to mass centralization like transaction censorship. DeFi may be subject to things like KYC and securities law. NFTs may be the most powerful censorship-resistant application bc govs can't ban each punk or squiggle. twitter.com/punk6529/status/1428455358398443527

4/ Regulation & NFTs NFTs are a form of expression (speech) and have strong First Amendment protections. Taxes will apply to NFT sales and large marketplaces and off-ramps will KYC. Some projects may be deemed a security... be weary of any project promising a profit. twitter.com/punk6529/status/1428638532684423173

5/ @XCOPYART’s Sunshine XCOPY is a master of the memes like "Right Click Save As" and this piece: · Is counter to dark XCOPY style · Captures the JPEG summer meme · Can scale to the rest of the world given its positive vibe and meme In sum... it's an A+ meme seized by 6529. twitter.com/punk6529/status/1428656886543495169

6/ The Metaverse is... a superset of VR, AR, and the internet. It'll happen this decade. You can be an owner in the metaverse vs. a user on the internet — it's like BTC but for everything. We must make corporations want to join an open system instead of building a closed one. twitter.com/punk6529/status/1429514317108502536

7/ Reclaiming the Tulip Meme "Tulip bubble" is a powerful meme against crypto. Referring to crypto as a tulip is saying it’s substanceless and bound to crash — like tulip prices in the 1630s. The Fidenza Tulip is an iconic on-chain generative artwork and @punk6529 bought it! twitter.com/punk6529/status/1429863145607159809

8/ Buying Your First NFT Rules: 1. Don't FOMO 2. Assume it's worth $0 3. You don't need to buy anything Steps: 1. Buy smth cool for cheap to see how it works 2. If you want more… get a hardware wallet 3. Watch marketplaces, Twitter, and Discords to find what else you may want twitter.com/punk6529/status/1431931687034830850

9/ 6529 doesn’t do paid promotions Generally, paid promotions aren't worth buying and the people promoting them aren’t worth following. Steer clear of Tweets like: "Follow, Like, Retweet, & tag friends to be eligible for this giveaway" twitter.com/punk6529/status/1432088984180695045

10/ NFT Twitter Lingo ser: sir fren: friend pfp: profile pic gn: good night gm: good morning gmi: gonna make it 1 of 1: each NFT is unique sweep: buy many NFTs at once secondary: buying NFT post-mint mint: issuing NFT from blockchain floor price: NFT lowest asking price twitter.com/punk6529/status/1433002033242595338

11/ Institutional Traps Institutions will say things to get people to sell to them... like how they'll display the artwork Ultimately, institutions have a duty to return value to shareholders. Which may lead to broken initial agreements and paths which go against crypto ethos. twitter.com/punk6529/status/1433708919591948309

12/ How the 6529 Fam Acts twitter.com/punk6529/status/1434145979528323072

13/ Goal = Onboard 100M People to NFTs Only a small # of ppl are here today but that # can grow quickly due to compounding. If everyone brings 2 people aboard, we’ll get to 100M in 9 generations. But don't recruit ppl by selling the dream of financial riches! twitter.com/punk6529/status/1434554792035160077

14/ 5 Levels to Making It 1. Unable to access basic needs: 🙏 2. Struggling to get by: hustle 3. Middle class: enjoy 4. We like nice things: enjoy carefully 5. Self-actualization: ❤️ Lvl 5 is usually found by competing for a big goal and doing it for the love of the game. twitter.com/punk6529/status/1435229502708322313

15/ 1st Amendment & SEC 1st Amendment = free speech Howey test = determining if an asset is a security (investment in entity expecting profit from others’ efforts) NFT rewards relating to the art are likely fine (eg, free art airdrops) but those promising $ returns aren’t. twitter.com/punk6529/status/1435581987553751041

16/ Advice for Emerging NFT Photographers Your goal is to build 1,000 true fans. To do it, find a tiny niche and own it. Play the long game by building a community. Aim create photographs that people will remember afterward. Use high-res so it'll look good in the metaverse! twitter.com/punk6529/status/1438042185207799812

17/ 6529 Squiggles Squiggles are the first @artblocks_io (AB) collection and AB is OG on-chain generative art platform. 6529 has a 🐐-tier Squiggles collection including a vertical collection (one of each type). Btw, AB’s Discord is a great place to chat about generative art! twitter.com/punk6529/status/1439332605263032327

18/ NFA Don't consider what 6529 buys a good investment or financial advice. 6529’s mission is building a decentralized metaverse — not flipping NFTs for $. 6529 often invests for personal interests and to support artists. Buy what you like with $ you can afford to lose. twitter.com/punk6529/status/1440303850842300431

19/ NFT Photography Rights Photographers should experiment with different rights models like collector-owned IP or CC0. Commercial rights are overvalued and the token and community are undervalued. Consider aiming to spread your work and monetize on future primary sales. twitter.com/punk6529/status/1442587130941906946

20/ 6529’s Photo Gallery Click here to see the full gallery: t.co/NEdctxJZ5z Artists include: · @noealz · @teexels · @halecar2 · @chimodu · @TokyoLuv · @MerrWatson · @aylaelmoussa · @DrifterShoots · @dave_krugman · @justinaversano · @korbinian_vogt And more! twitter.com/punk6529/status/1442498117258170368

21/ Billionaire TradArt Collectors Most mega OG NFT collections have already been built by individuals and DAOs. Billionaire TradArt collectors aren't willing to build massive collections atm as NFTs still seem super risky. Maybe 30% of top collections will be TradArt ppl. twitter.com/punk6529/status/1440654746331664393

22/ NFTs 2030 You’re insufficiently bullish on NFTs Society runs on databases by trusted third parties which are prone to anti-competitiveness and existential risk. BTC solved decentralized consensus for payments and NFTs solved decentralized consensus for ALL goods... twitter.com/punk6529/status/1443921334837338114

23/ ETH Gas Prices Gas can be expensive sometimes (eg, a $35 fee on a $350 purchase). The physical alternative is paying 40%+ in distribution fees (storage, shipping, etc). For low-priced NFTs, blockchains like Tezos have cheaper gas (<$1). So... NFTs are relatively cheap. twitter.com/punk6529/status/1444782122007420928

24/ 6529 Gradients @6529er designed this 100-item collection where each NFT is a subtly different shade. No roadmap but you can expect many experiments and collabs (like the 6529 Memes!). The first batch of 50 sold for up to 28 ETH. Fun fact — I own two! twitter.com/punk6529/status/1446182782594699270

25/ Eyes on Earth and Citizen Science by @MattScobel NFTs create a new funding model: · Publically displayed (discoverability) · Creator can be rewarded (purchase) · Investor has an incentive to buy it (own asset) · Streamlining purchase process (no bs paperwork) twitter.com/punk6529/status/1448395546150977537

26/ The City Experiment Art allows you to see the world through someone else's eyes. 6529 ran an experiment where he asked people to share favorite images from their city. You can view the results in the thread and see some of the pics here! twitter.com/punk6529/status/1449316622573920262

27/ What is an NFT? Virtually everything is non-fungible (unique). NFTs are tokens which represent what the creator declares... like an authenticity certificate. The token contains a URI which points to where the art is stored. NFTs can be anything — art is the beginning. twitter.com/punk6529/status/1451896453065023493

3 memes against NFTs and why they're wrong: 1. Right-click save as— provenance is perfect in NFTs unlike paper signatures in TradArt 2. Everyone can see it — everyone can go to a museum or online 3. You don't own the copyright — you don't own TradArt IP

28/ Real Estate A land deed and physical land are only bound by signatures and $. Land ownership is a normalized social convention whereas NFTs are disconcerting bc they're unfolding in real-time. For NFTs, the token is the deed and what it means is a social convention. twitter.com/punk6529/status/1452797543478448129

29/ America & Crypto US is a natural home for crypto because it's financially and technologically strong and believes in freedom. Crypto is a weapon for US because US has the largest crypto market today and it can handle the development of open systems — unlike its competitors. twitter.com/punk6529/status/1457278102405623811

30/ Europe & Crypto EU should aim to be the leader in crypto because: · Has no digital payment rails · Jump into the next gen of tech · Continue supporting human rights · Looser financial regulations like no Howey Test But they're not atm and risk falling further behind USA. twitter.com/punk6529/status/1457370810679808006

31/ Not Failing Decentralization Again We tried building a decentralized digital world in 1996. It failed bc we live in meatspace and live by meatspace rules. We must educate citizens on Web3's importance and lobby politicians. Otherwise, bad policy could set us back decades. twitter.com/punk6529/status/1457393362466709506

32/ The Pathway to Open Global Decentralized Systems is... Adoption from regular ppl and they need: · Crypto —> fiat offramps · No risk of legal penalties · No burdensome obligations We need action > ideology and ppl to fight for the right to build this infrastructure twitter.com/punk6529/status/1457750434546864129

33/ gm NYC Showcasing some of 6529's favorite NFT art in Times Square! twitter.com/i/status/1455622499861925898

34/ Securing Your NFTs Terms: · Wallet: holds private keys · Public Key: wallet address (can share) · Private key: wallet password (never share) · Seed phrase: private key recovery system (never share) · Passphrase: optional extra password to create wallets (never lose) twitter.com/punk6529/status/1461742366696652809?s=20&t=M5UU6jYOBOrs1fCmnAHgbw

Goals: · Security: keep private keys private · Resiliency: ensure you don't lose private keys Wallets: · Software: application on computer/phone (eg, @metamask) · Hardware: physical device (eg, @Ledger) What to use? <$1K: software $1K+: hardware $1M+: 3+ hardware & @gnosisSafe

You should have multiple wallets: 1. One hardware wallet to store items 2. One hardware wallet for interactions (eg, minting a random NFT) 3. (optional) a mobile software wallet for emergency transactions

6529 outlines the steps to purchase and set up a wallet in Tweet 54. If you're setting up your first wallet, read this section multiple times and follow the steps. The core principle of wallet setup is storing your seed phrase on paper and never typing it into a computer. twitter.com/punk6529/status/1461750319084445697?s=20&t=M5UU6jYOBOrs1fCmnAHgbw

35/ Photography 1/1s The NFT version will be more valuable than print bc: · Composable · Perfect provenance · Global buyer market · Better storage & maintenance NFT photographers should consider making NFT 1/1 the "original" & communicate their plans for NFT & prints clearly. twitter.com/punk6529/status/1467098483656122371

36/ Web 1, 2, 3 There's a war for the metaverse (web3) between: 1. Meta/Facebook: a king who can decide what you see, create, and whether you exist 2. NFTs architecture: you own digital objects and can transport them Art is the wedge for NFTs and it may just save the world twitter.com/artnet/status/1472671289450151939

37/ NFT Rights Delegation Storing NFTs in cold wallets is necessary for security but that hurts composability. You should be able to delegate other addresses for things like: · Signing · Lending · Airdrops · Displaying · Leasing rights twitter.com/punk6529/status/1471832930066604039?s=20&t=4ovGZkRyFU-zlAmGZfDJtw

@0xFoobar recently led the build for a wallet delegation solution! @0xnook, @khivedoteth, @purphat, @andy8052 and @punk6529 helped build it too. twitter.com/0xfoobar/status/1575290861570740226?s=20&t=i5VWinK8_egyqwwXWvgJdA

38/ How to Make it in Crypto as a Normal Person ONE RULE: SURVIVE! Invest an amount where your life is okay if it nukes... the biggest risk is selling during a period when crypto is nuking for years. Think of your crypto being worth $0 and not having to look at it for 10 yrs. twitter.com/punk6529/status/1477259809493819393

Tactically, 95% of people should: · Not lever · Chill until 2030 · Buy mostly blue chips · Have fun and enjoy this experiment · Invest an amount that won't stress them & for NFTs specifically: · Buy things they like · Expect them to be illiquid · No real expectation of a return

6529 says 99% of us shouldn't use leverage and used Zhu Su as an example of an elite pro trader (top 1%) who can... But even Zhu still got mega rekt... Leverage will risk your survival.

39/ Preserving a Digital Image for 100 Years Off-chain digital longevity sucks... you need multiple storage forms, ongoing payments, and future generations to take on the practice. On-chain longevity has promise but needs work (like offering pre-payments with multiple pinners). twitter.com/punk6529/status/1480871574823710723

40/ NFTs are the Best Way to Sell Digital Art There are two ways to prove digital object ownership: 1. Trusted 3rd party (company or government) 2. Blockchain Problems in the company scenario are: · Fragmentation · Central control · Company can fail · Shareholders prioritized twitter.com/punk6529/status/1481228619863187461

· Diminished composability · Company has all leverage Governments have the same problems +: · Political interference & competition · Poor history building tech services Whereas NFTs have: · Perfect provenance · Sovereign ownership · No third-party reliance NFTs are the way..

41/ We Want Corporations to Enter NFTs... As long as it's on decentralized blockchains. Digital objects will be everywhere and those objects should be cross-application and openly accessible. A fully digitized, fully ML, centralized society risks being an Orwellian nightmare. twitter.com/punk6529/status/1485743978364477445

42/ Marketplace Transfer Function NFT Transfers are currently unassisted and blockchains are irreversible. Marketplaces can fix this by: 1. Adding an address book 2. Pulling confirmation data from the receiving address (eg, ens, # of transfers) NFTs need more usable software. twitter.com/punk6529/status/1489387642018050050

43/ Why NFTs are Socially Optimal TradArt must balance privacy and publicity as the piece can only be in one place. NFTs provide ownership and global public benefit at no physical cost — it's better for artists, collectors & the public! twitter.com/punk6529/status/1493973723547934726

44/ Freedom to Transact Underpins Constitutional Rights bc... people need $ to exercise their rights. The state can weaponize the financial system today and CBDCs will offer them more power. We must fight for preserving non-custodial and decentralized financial architecture. twitter.com/punk6529/status/1494444624630403083

45/ Geopolitical Conflict Highlights the Need for... us to build distributed cost-effective renewables, deeper global integration, and overlaying of national and global identities. The metaverse shouldn't be rivalrous like IRL bc land isn't scarce but we'll need to work for it! twitter.com/punk6529/status/1497550173597093894

46/ Punks @Larvalabs (LL) created Punks & Meebits and had very restrictive licensing. @yugalabs acquired them and granted holders full commercial rights (like BAYC). Yuga makes $ through trading royalties and LL can only make $ by selling their Punk holdings or licensing IP... twitter.com/punk6529/status/1502595586960367617

And LL likely would've monetized the IP with trad media companies. Yuga acquiring Punks is a way better outcome bc they won't mess with the Punks and they granted holders IP rights. gg to Yuga for seizing the memes. ps, NFT project rights structures will be holder-owned or CC0

47/ Safely Dropping NFTs to Collectors The options are... · Delegate rights w/ @delegatecash (best!) · Airdrops (safe & convenient) · Mintpass NFT (also safe but requires txs & gas) · NFT as mintpass (mostly safe but also requires txs & gas) · Wallet snapshot (not safe) twitter.com/punk6529/status/1506732150120456205

48/ Life is Short Do the math for how often you see the people and do the things you love most. You'll realize your special moments are far fewer than you think... Make every one count and don't burn your short life on things you don't like to do. twitter.com/punk6529/status/1507787390114488322

49/ EU Giving Up EU is far behind in AI and only sees a path of regulatory leadership (which is lol bc it's not creating value!). Regulation "leadership" will encourage more companies to build outside EU too. EU must work, like previous generations, to create a great future. twitter.com/punk6529/status/1509832349986562048

50/ Introducing OM OM's goal is to become a decentralized open metaverse that can scale to 100M ppl (open meaning no one party is in charge). The social component of scaling is difficult for metaverses — we need it to be easy, affordable, and bridge the physical world. twitter.com/punk6529/status/1514718020849000461

Concepts · Memes > land: ppl need to identify with myths & tech/land/etc will follow · Art: ❌corporate ✅ vibes (like @XCOPYART) · Portals: we aren't restrained by physics OM is powered by @oncyber & in browser. The 1st district, 6529's Museum, has 25 galleries and over 2k NFT

51/ OM Gen 1 The alpha version of OM which you can apply to join here: 6529.io/om/join-om/ The spaces are on-chain and you can request an individual space (eg, gallery), building, district (eg, for a PFP project), or even an experimental district (eg, gooch island). twitter.com/punk6529/status/1516193658139201539

52/ Cultural Object Framework Everyone knows a few thousand cultural objects (memes). These objects are: · Global (eg, USA) · National cultural objects (eg, Superbowl) · Local (NYC —> "South of Houston" (SoHo)) · Work/Hobby (photographer —> rule of thirds) twitter.com/punk6529/status/1518332020929314816

Memes follow fractal power laws (winner take most + same pattern at diff scales). NFT collections are fighting to become global meme winners... only a few are gmi and they'll be incredibly powerful. 99% of ppl should focus on winning a niche vs being an OK global effort.

53/ Bear Markets Goal = SURVIVE. · Enjoy life · Keep fiat cash flows · Don't try predicting markets · Plan for every possible scenario · Forget your all-time high net worth · Review your emotions & asses risk tolerance · Build skills & contribute... and u prob gmi by 2030 twitter.com/punk6529/status/1525565876711444484

54/ VCs in Web3 Many web3 projects don't pass the Howey Test (ie, are unregistered securities) and need to raise $ from accredited individuals (like VC firms & angel investors). It's imperfect as only a handful of strong firms invest in crypto but startups need the $ to execute twitter.com/punk6529/status/1530586594184511489

55/ RAW is... 6529's personal photography collection (he's always loved photography!). Photo 1 is reflections on the water in the Reykjavik harbor. The collection will be mostly landscapes and cityscapes RAW photos are CC0 so u can use them however u like! twitter.com/punk6529/status/1533195045196775425

56/ The Right Way to Worry Business success is closer to "mo' money, mo' problems" than nirvana. Business productivity is a form of worry (eg, is my CRM set up perfectly?) Everything will change and suffering comes from fighting change. When you accept this, you are at peace. twitter.com/punk6529/status/1533375485023031297

Worry on a day-to-day basis, try to be better, and take positive action. Have fun on the ocean surface and ride the waves (swim, ski, sunbathe, etc). And also have a level untouched by daily worry... the ocean deep that no surface action can impact.

57/ The Memes Objectives: · Spread open-metaverse messages widely · Run experiments in emergent community behaviour Model: · CC0 · Changing distribution · 0.06529 ETH mint price · 300-1k editions (ERC-1155) The Memes are inspired by Rare Pepes & Loot! twitter.com/punk6529/status/1534965126901682181

There are now 22 meme cards with artist collaborations such as: · @osf_nft · @seerlight · @MattScobel · @Reuben_Wu · @komodaharu · @AlienQueenNFT · @lphaCentauriKid Full collection: opensea.io/collection/thememes6529 ps, many Meme cards are featured in this thread 👀

58/ The Metaverse Needs Crypto as... it'll consist of digital objects which should have distributed storage bc central storage is subject to: · Censorship · Rent-seeking · Instilling fear (getting banned) · Threating political & global national security twitter.com/punk6529/status/1536046825047736326

NFTs are interoperable, decentralized and self-sovereign whereas web2 digital objects are trapped. The metaverse needs public blockchains, and specially NFTs, to reach its potential.

59/ Wealth is a Claim on Other People's Time People normally think about what stuff they can buy.. But what you're actually buying is labor to make the stuff — the stuff is a distraction. Money, roles, & fame are examples of mechanisms to determine who has claims on whose time twitter.com/punk6529/status/1547313080115204096

60/ NFT Minting Learnings Personal: · You must learn by doing · Have sympathy for artists as minting is a vulnerable experience Tactical: · Tooling is immature · Fighting sybil attacks is hard · Avoiding gas wars is possible · We're reliant on centralized identity services twitter.com/punk6529/status/1550562880185143296

61/ NFT Rights Delegation will encourage normal ppl to onboard bc they'll feel safer and be able to enjoy ALL fun NFT things! We'll likely see rights markets (eg, pay 0.01 ETH to rent my Punk in a game). @delegatecash, @wenewlabs, & @tokenproof r working on delegation tools. twitter.com/punk6529/status/1540622605497077761

62/ Royalties Royalties aren't enforceable on-chain and ppl pay them to support the creator's rules. Royalties should be a tax on gains. No royalty collectors & products are self-serving. Creators should position themself to monetize in other ways (eg, holding some supply). twitter.com/punk6529/status/1558920163386327042

63/ Post-Merge Carbon Trolling Energy usage was a meme against crypto but ETH is now 99.95% more energy efficient! Meanwhile, the TradArt ecosystem has a massive carbon footprint (buildings, travel, etc). The meme was ultimately ppl afraid of change and 6529 poked fun at them. twitter.com/punk6529/status/1571900532813598721

64/ Being Efficient with Busy People Sr. ppl just want the job done and you should help them by: · Making a decision OR · Making a recommendation OR · Communicating it in one compact message Never DM "can I ask a question?" and preferably don't ask to hop on a call. Process: twitter.com/punk6529/status/1562510420644343810

Whew, 64 threads down! Congrats if you made it this far 👊

To recap... 6529's core messages are: · gm · WAGMI · Open metaverse · Use a hardware wallet · Ppl need the freedom to transact · Memes run the world & we must seize them · Don't let institutions steal your memes

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