As I'm looking for inspiration to write this intro, I look out the window and up there, between the trees, I see train tracks.
They are a reminder of my life before NFTs. Everyday I was inside that train heading to my 9-to-5 job at a big robotics company.
I didn't hate my job, but something was off. I needed to build my own thing.
Do you have a train track ? A constant reminder of why ?
...
Today I want to talk about 3 things NFT Artists & Collectors struggle with during the bear market.
1. Resisting to Pressure
The Outside Pressure
In a previous newsletter I've talked about how the fluctuations of the crypto market can break you:
(ELI5 for Artists)
Beeple sells jpeg files, sells every last ETH he receives
22
But fluctuations impact more.
For example, selling was easier in March 2021 than now.
Despite this, I released my biggest project in November 2023, a bear market. Don’t let market conditions dictate your release.
Adjust your marketing strategy. Artists often resist marketing, but it’s essential. Even NFT collectors like Cozomo understand that to attract new talent you have to put yourself out there.
That's just how life works. Don't be stupid, Market your art.
The Inside Pressure
You are your own enemy.
Don't let fear stop you from making good decisions.
Fear is natural.
I fear having to go back to a 9-to-5 job.
I fear that the market might be my downfall.
I fear that my next projects will not be good enough.
But at the end of the day, you have to make decisions. And fear should not dissuade you from making the right decisions.
2. Keeping their money
Avoiding Scams and Hacks
Look, there are So many things that could and should be done.
Here's what I do:
Withdraw money after a sale.
Keep unsold crypto in a multisig.
Diversify unsold crypto (Stables, Gambles, etc.)
When an app asks to spend crypto for you, change the amount to reflect what you will actually spend (by default it's ALL of it)
Read Smart Contracts for important transactions (you can use chatgpt).
If I need a company's website, I check their Twitter bio, then cross-reference it with Google.
Use a hardware wallet for important stuff, hot wallet for the rest.
Don’t EVER download files someone sends you per DM.
If you HAVE to, open them in a browser, or better, a VM (I use tart)
Share your tips in the comments!
Diversifying
The rule is simple:
If your assets' foundation vanishes, are you screwed? If so, diversify more.
Diversify your wallets (Hot: Metamask, Rabby, and Cold: Trezor, Ledger,...)
Diversify your social platforms (Twitter, Discord, Newsletter, Instagram,...)
Diversify your revenue (Selling Art, Reinvesting revenue, Sell your niche knowledge, etc.)
Forgetting the Taxman
The taxman doesn't care if ETH went down 90% yesterday. If you owe money, you better make sure to keep it safe.
The guy is a true degen
Still, he later consulted an accountant.
The news was devastating.
3. Getting new ideas
Keeping an Idea List
I once spoke with a seven-figure NFT seller who advised to keep a list of 100 ideas.
Since then, I've actually started doing it. I'm still pretty far off the 100 ideas (Actually I just counted, I am at 136 ideas !)
I jot down ideas and add them to my database (like Notion), when I get home.
Getting inspiration from Nahiko (and others)
Lastly, you'll need inspiration to create your list of ideas.
Creativity is simple: your brain needs to consume high-quality content to produce high-quality content.
Here are this week's bookmarks (I heard it's very high quality content 😉 )
✨ Flux is taking over
Believe it or not, this image was generated with AI (Flux + LoRA).This image changes EVERYTHING:
- A new reign begins: Flux (Bye, Midjourney, SD, Dalle, etc.).
- We’re leaving the "uncanny valley" behind.
We'll never be able to tell what's real from what's not again.
✨ AI Streaming is easy now ?
But this is from a single still image
Avatars using AI will be huge for streamers, remote workers, influencers
No need for expensive 3D pipelines and mocap, just a phone or webcam.
What have we gotten ourselves into?
🖼 Web Magic
It runs directly in your browser using your GPU to extract human
Demo: whenistheweekend.com/motion.html
#AI #Olympics2024Paris @threejs
📖 A Giant Crypto Timeline
Script in the file, bottom left →…
✨ Getting Elon in your team meetings
Single image to live stream deep fake.
Look at that quality!!
It's called Deep-Live-Cam (link in replies)
See you next week ✌
Nahiko
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I share 1 new thing I learned in the NFT space, every week ✨ Don’t miss the next one:
