GMoney’s Regret Over Purchasing CryptoPunks: NFT Collector

Back in January 2021, gmoney purchased the most expensive CryptoPunk at the time, Ape Punk #8219 for 140 ETH ($150,275 at the time). The sale garnered a lot of attention due to gmoney’s Twitter thread thesis about CryptoPunks and digital scarcity.

Coming from a traditional finance background, gmoney got into crypto in 2017 but only became interested in NFTs in late 2020. He has invested in several high-profile collections and currently owns various NFTs.

gmoney’s interest in NFTs was sparked by playing Fortnite during the pandemic, where he discovered the concept of digital ownership. He always looks for market opportunities that are undervalued, leading him to crypto and NFTs.

gmoney is now focused on his lifestyle platform and clothing brand, 9dcc, while still being a top influencer in the NFT space. He continues to engage with the community and promote NFTs.

gmoney recalls doubting his purchase of Ape Punk when the crypto market experienced a pullback. However, his long-term vision for the NFT kept him invested, and he eventually saw returns on his investment.

FOMO played a significant role in gmoney’s purchase of the most expensive CryptoPunk, as he had missed out on their earlier rise to $1,500. Influencers like Snowfro, Nate Alex, and Justin Trimble convinced him of the value of CryptoPunks during his time minting Chromie Squiggles. “I was trying to find the next version of this and then those guys red pilled me on them pretty hard.”
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CryptoPunks, Squiggly, Autoglyphs: gmoney’s NFT collector thesis

Like prolific NFT Collectors DC Investor and VonMises, money has a long-term horizon on most of his portfolio.

“I would say I’m probably more of a buy-and-hold collector, especially when it comes to art. I think especially on the collections that we’ve spoken about. I think that they’re probably going to stand up over time and become historically relevant,” gmoney says.

“There’s only 10,000 Punks, 10,000 Squiggles, approximately 500 Autoglyphs so I think over time they get into museums as digital artifacts. You just can’t not include these.”

“That’s kind of why I think I slowed down a lot after the first half of 2021. There were just so many things that were coming out and the supply became so high that I’d rather hold on to something that will go up less because it’s already gone up so much, but has a higher probability of going up than something new that maybe I can make like a 10,000x on.”

“That’s why you haven’t seen me do much with my collection since then is because I’ve been really happy with the things that I did get.”

gmoney also has a soft spot for the often overlooked fully onchain Squiggly collection of 100 by Nate Alex that was launched in October 2020.

“I really like the Squiggly’s and I love Nate. I think Nate is awesome and I do think those are going to be pretty historic and stand the test of time. It’s only a small collection too.

gmoney says he honed his eye for nuance and desirable traits in collections by picking up on cues from collectors like VonMises.

“I remember after I minted one of the Hyper Squigs, VonMises DMs me and offered me something like 0.75 ETH or 1 ETH for it … I remember I said no and I didn’t need the money but by that point, I already realized that he was a really smart guy and if he wanted a Hyper, someone else probably wanted it too,” gmoney says.

“So I then kept track of all the people that would mint Hypers and I actually bought one right after somebody minted because of that interaction with VonMises. Even though I had no idea what the rarities were at that point, I was just like, ‘All right, if this guy wants it, then I probably want it.’

Gmoney builds onchain clothing brand 9dcc

The birth of onchain clothing brand and lifestyle platform 9dcc in early 2022 was something gmoney was thinking about early on. He recalls a conversation with Pranksy that originally started out as a vision for a metaverse fashion brand, but he pivoted the idea shortly after his IRL clothing drop with Adidas.

Since, 9dcc has become popular with crypto natives and even some celebrities and athletes.

“I think the really cool stuff is that these people that wear our product aren’t wearing it for the tech, they’re wearing it for the design, which I think says a lot about the design,” he says.

“Big shot of kudos to our creative director for that because first and foremost, we have to make stuff that people want to wear. If we have this cool tech side of things, but people don’t want to wear it, then it’s just going to sit there.”

“But the fact that celebrities are wearing it and athletes are wearing it means that the design is good and then the tech unlock is the extra.”

The name 9dcc refers to the last four digits of a wallet address, and gmoney wants to turn mainstream consumers onto crypto ideas and digital ownership.

“I just say to people a lot of times if I’m wearing a hat or a shirt or whatever ‘hey, do you want a free NFT?’ Most people are curious, and I ask them to take out their phone, and then I just show them that experience. I feel like people have this preconception of NFTs being these overpriced pictures,” gmoney says.

“I just educate them that this is proof that they met me in real life. The only way you can get this NFT is by meeting me. Generally they think that’s pretty cool. and then maybe they ask more questions, maybe they don’t. Although we don’t mention them as NFTs like in any of our messaging, we lean more to a digital engagement. A digital experience everybody gets.”

“We all go on the internet, that’s a digital experience right? We go on websites, all these things. It’s just a function of that and we’ve obfuscated all of the crypto away. I always use a guiding principle or let’s say like a north star, if my mother can use it then I know it’s good, but if she can’t, we still have work to do.”

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Rapid Fire Q&A with NFT Collector gmoney

Biggest NFT sale to date?

I was gifted a Bored Ape when they were at around 0.5 ETH floor. I sold it for around 79 ETH, which I think was about $270,000 at the time. That might have been my biggest sale.

Who are your top three favorite digital artists?
1. XCOPY – Number one is XCOPY, I think my biggest regret from that last cycle is not getting XCOPY. I think I’m kind of priced out from the stuff that I want.
2. Die with the most likes
3. Grant Yun

When did you buy your first crypto?

It was in 2017. I remember I was trying to buy it around 2012. I saw a Bitcoin at $27, and I was trying to buy it, but I couldn’t figure it out. I spent four or five hours trying to figure it out and just couldn’t. I missed it but it is what it is.

If you could only name one, what would be your absolute favorite NFT owned across your combined wallets?

Have to say my CryptoPunk Ape but in terms of other favorite art pieces, I have some Justin Aversano stuff. I helped bring him into the space so his stuff always resonates with me and means a lot to me.

What’s an underappreciated NFT project right now, in your opinion, if you had to name one?

CryptoPunks.

Who else’s collection outside of your own do you admire?

Off the top of my head, I’d probably say Seedphrase. I think he has an incredible collection.

Are there any up-and-coming artists that you would encourage readers to pay attention to?

I’d say probably die with the most likes. I think he has a cult following in the space but I still sometimes look at his follower count and think this guy is still not widely known. I love his shit. I think he’s hilarious and he’s like the nicest guy if you ever meet him in person.

Who would be your top three favorite followers X for NFTs?
1. Derek Edwards
2. Chris F
3. Aaron Wright

I feel like they’re definitely here long term and they definitely see the trends way before most.

What would be your advice to someone just discovering NFTs now who has a lot of curiosity and wants to get their feet wet?

I would say take your time and be patient. The market isn’t necessarily going anywhere for the time being. Find stuff that resonates with you and don’t necessarily do it for the money, do it because you love the art.

What is some advice for someone that’s trying to survive crypto for the long run?

No leverage, no leverage. You don’t need leverage. The upside is big enough without leverage.

Links

X: @gmoneyNFT

gmoney wallet: /gmoney

gmoney vault wallet: /gmoneyvault

9dcc store: https://9dcc.xyz/

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Greg Oakford is the General Manager for Upside DAO, a leading Australian crypto & web3 co-working hub and investment fund. He is an avid NFT collector and the co-founder of NFT Fest Australia. Prior to crypto, Greg was a marketing and sponsorship specialist in the sports industry working on professional events. Follow the author @GregOakford.

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