My thesis for buying NFTs

I’ve been buying NFTs for the past 6 months.

“Imagine buying a JPEG” is what the NFT skeptics say on Reddit.

Saturday Night Live reduces NFTs to the process of uploading a JPEG and getting $3000 for it.

When you boil down the purchase of an NFT to paying for a freely available digital image, I agree it sounds crazy to spend thousands on them like most buyers of top NFT collections have done.

But to write off NFT-based art in such a manner is both short-sighted and totally misses the point of what this tech is capable of.

Because anyone can easily create NFTs, it is reasonable to expect that 99.9% of the currently existing NFTs will soon become worthless. However, I assert NFTs’ current top “brands” (Bored Ape Yacht Club, Hashmasks, and CryptoPunks) will thrive well beyond our current NFT bubble, the reasons for which I have broken down below:

1) First-mover advantage.

Few NFT collections have established themselves the way BAYC (Bored Ape Yacht Club) Hashmasks, & CryptoPunks have. These guys have first-mover advantage working for them which is momentous in spaces where value is subjective & built upon name recognition. As more art collectors join the NFT world, more are introduced to these established collections, further…