Thread by @jiucrypto, Thread about buying and investing in #NFTs on #hicetnunc @hicetnunc2000 on the [...]

Thread about buying and investing in #NFTs on #hicetnunc @hicetnunc2000 on the $XTZ @tezos blockchain.

In this thread I will write about my experiences as a collector, my approach and why I consider #Tezos based NFTs as one of the biggest opportunities in crypto right now.

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At the end of the thread, I will spotlight some of my favorite @hicetnunc2000 (HEN) artists.

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Before I am getting started, I should make clear that I have no professional background in art or finance.

While I am an autodidact in investment and consider myself quite successful, I honestly have to confess that I don’t “understand” a lot about art.

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I just buy what I “feel” and that meets certain criteria that I will describe later.

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First of all let me give you a MACRO view about the crypto markets in general and the NFT space in particular…

To make it short: There are not many crypto currencies that I would buy at their current levels. Almost all have gone up by a multiple since their last bottom.

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I am not saying that they can’t go higher but overall the risk / reward ratio has become worse and worse over the last months. I HOLD the coins I have but wouldn’t buy most of them here, except on significant dips.

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Now let’s look at NFTs… The NFT world has always been dominated by the $ETH ecosystem. When I first discovered NFTs around one year ago I've already been a bit late to the “Superrare-party” as prices had already gone up so much that it just didn’t feel right to buy anymore.

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So I focused on @makersplace and was able to build a very nice collection there: https://makersplace.com/futeart/

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FuteArt

FuteArt's collection of rare digital artworks.

https://makersplace.com/futeart/

Unfortunately over time, #Ethereum fees have become SO high that I lost any fun in using the Ethereum ecosystem. A simple #NFT purchase could cost 60, just setting a price 30 USD in FEES.

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I realized that most of the world’s population has been excluded from being able to use the #ETH ecosystem because they can’t afford the enormous fees.

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#Ethereum had been gentrified, just like a formerly hip student and artist city district that gets bought up by the establishment, driving the prices so high that the same clientele that made the area cool is leaving it and looking for a new place to stay.

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Also, the prices for the NFTs itself on $ETH based platforms kept rising. I am not saying most artworks are overpriced but if you want to be a collector AND an investor at the same time you should always look for the exceptional opportunities.

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Watching this price development and disappointed by the slow and expensive #ETH network I started to consciously look for #NFT platforms on other ecosystems.

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Those that caught my attention the most have been @signArtApp based on @wavesprotocol $WAVES and @hicetnunc2000 based on @tezos $XTZ.

In the end, it was the uncurated and permissionless platform #hicetnunc that excited me the most.

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When I first tried it it was still very early. There was no secondary market, there were some copyminters and most artists didn’t even have any links to their social media in their art works.

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But when I purchased my first NFTs via $XTZ in my @TempleWallet (it’s similar as @metamask for $ETH), I experienced how it feels to pay few cents on fees only and when transactions settle within a minute max. I saw the HUGE potential of and for #Tezos.

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It felt like SALVATION for someone coming from the ETH ecosystem.
And when I checked out the HEN discord and saw the vibrant community and development activity on so many levels I realized that being early in this process might be a great experience and a great opportunity.

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I KNEW WE COULD BE PIONEERS.

I expected a lot of artists and collectors to switch from $ETH to $XTZ in the coming weeks.

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Because: Which non-established artists and which collectors, who are not quite rich would still be willed to pay the astronomic #ETH fees when there is an almost free alternative that is progressing fast?

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Let me summarize $XTZ ’s biggest advantages (for normal users) over $ETH:
1. Transactions are almost free (few cent max)
2. Transactions settle almost instant (max ~ 1 minute, mostly faster)
3. XTZ is environmentally friendly as it is POS and not POW

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No electricity consumption through mining! Please note that the last point could be interesting for you even if you don’t care about the environment (what I don’t hope) – because the #greenNFT narrative could cause a very strong traction or even hype for XTZ-basd NFTs.

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Especially since environmental awareness is an important issue for the same clientele that has the education and means to buy and / or release #NFTs.

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Important security hint: Just like with $ETH you can keep and use your Tezos and it’s NFTs and other tokens on a hardware wallet like the @Ledger Nano S. It can be connected to @TempleWallet.

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Another thing that excited me about HEN was and is the number of cool artists. Before you start you NEED to know one thing: Opposed to many ETH based NFT platforms HEN minting is permissionless and releases uncurated. EVERYONE can mint their NFTs there for few cents.

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This is why you should be very careful of copyminters! Always check the artists’ social media channels (I mainly use Discord and Twitter) and use their provided links to their artworks.

TWITTER ONLY ALLOWS 25 TWEETS AT ONCE SO I WILL CONTINUE THIS THREAD IN SOME MINUTES

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This is very different from curated platforms where the “digging” often happens the other way round! @hicetnunc2000 is truly the WILD WEST of NFTs!

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An effect of the high diversity and number of artists and also of the low minting fees on XTZ is that there is a broad spectrum of art and also of prices.

While I have never found extremely expensive NFTs I’d say the pricing varies from very low to rather high.

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Most can be considered very affordable. You should also know that there are extremely many free giveaways, often great “objkts”.

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Btw, I think when it comes to #NFTs I am probably not the best “investor”. Why? Because I don’t overthink and just buy what I like and consider priced fairly (sometimes it’s even surprisingly low).

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I don’t pay too much attention to artists’ follower numbers and rationally “force” myself to buy things I think I "should" like but actually don’t like.

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I follow what @theRealKiyosaki taught me:

If you invest in something you need to love it and have fun with it. Otherwise, you won’t spend time with it voluntarily and thus never become good at it!

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Maybe I’d get better “investment results” with a more rational approach – but would I still enjoy the process? Life is too short for things we don’t enjoy!

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Let’s come back to one of my original points: While I see most crypto currencies with a questionable risk / reward ratio and many $ETH NFTs with a limited upside potential from their current prices (not to speak of the annoying and discriminating fees)...

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... I see high quality #NFTs on $XTZ at affordable prices as one of the biggest opportunities crypto has to offer right now.

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I hope I don’t have to explain to anyone that crypto in general is extremely risky and #NFTs are no exception.
So please be careful, do your due diligence and only risk what you can afford to lose without losing your smile!

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I personally expect NFTs to stay as art on the blockchain is just too fascinating and to easy too trade for wealthy elites that they won't see sustainable recognition. This doesn’t mean that single #NFTs can’t become totally “worthless” pricewise!

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Before I spotlight some of my favorite artists I’d like to give you some of the most important links:

@TempleWallet
@hicetnunc2000
HEN Discord: https://discord.gg/4pXqsqhS
HEN Telegram: https://t.me/hicetnunc2000
Wiki: https://github.com/hicetnunc2000/hicetnunc/wiki

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hicetnunc2000

decentralized computation

https://discord.gg/4pXqsqhS

Excellent tool to check an objkt’s price history: https://www.hicetnunc.xyz/objkt/46415

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hic et nunc

decentralized digital assets

https://www.hicetnunc.xyz/objkt/46415

When it comes to spotlighting some of my favorite artists I am in a bit of an dilemma… Because I need to focus on some and that means there are other excellent artists that I won’t mention. Please don’t feel offended!

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As I said in the beginning I am an art noob, can’t always recognize or describe greatness and will focus on some few that have a special meaning to me for different reasons.

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The first artist I’d like to mention is @orlainberlin.

When I “arrived” on HEN I discovered one of her artworks that immediately became one of my all-time favorites.
For some reason, it reminded me on the Nebra sky disk. Isn’t it absolutely magnificent?
https://www.hicetnunc.xyz/objkt/1964

The next artist I want to spotlight is @dkaism. He has already been one of my favorite artists on @makersplaceco and was afaik one of the first successful artists who also started using $XTZ based HEN. I love the mixture of futurism and mysticism.
https://www.hicetnunc.xyz/tz/tz1Rw2JoU2AK2TNdfhcd4h918CdTGSNh5Gnw

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With @windspiek I found another extremely interesting artist. He’s doing very characteristic 3D animations and was one of the “interactive NFT” pioneers. Check it in motion!
https://www.hicetnunc.xyz/tz/tz1cjTb6ijvnPrJBfaTEFphxDovW9xQbkmDK

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Very characteristic works also come from @x6highx. Great idea and realization in his “Psychological Drama” series, check it in motion!:
https://www.hicetnunc.xyz/tz/tz1e3xgjrmmXevHV1Cv18119TibVxgp24M8p

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@ABelitskaja is another artist with a very consistent style (that’s very important to me) and spectacular objects:
https://www.hicetnunc.xyz/tz/tz1SDZM1kqzL6psuSCENppawXXAsDXH6yVmH

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Now let’s come to my favorite environmental warrior @RenancioM. His NFTs cover the tragic situation of the flora and fauna of our planet and the implementations are EXCEPTIONAL. This goes along very well with the #greenNFT possibility $XTZ offers.

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I can imagine @RenancioM could get lots of attention from people with high environmental awareness in the future. You should check his breathtaking gallery in motion:
https://www.hicetnunc.xyz/tz/tz1UcaJxKNDqcFRroyhTGPjCQLNGyucWKiWY

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I LOVE the Sweden based artist @Eliasklingen because he made this OUTSTANDNG 1/1 masterpiece: https://www.hicetnunc.xyz/objkt/31757 You need to PROMISE me to watch it! With sound. Also looking at his other releases makes clear that he has the highest quality standards.

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An award for innovation and disgusting beauty should go to @alien3y3 for the sick approach to transform people’s skin into alien flesh. Brave and edgy!
https://www.hicetnunc.xyz/objkt/5781

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@Kopfgestaltung brings very dark and atmospheric art in an exceptionally detailed way. Incredible quality.
https://www.hicetnunc.xyz/objkt/23888

BEFORE I SHARE THE LAST ARTIST THAT HAS AN EXCEPTIONAL IMPORTANCE FOR ME I NEED TO PAUSE THIS THREAD AGAIN FOR SOME MINUTES

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