If you’ve started to dive a bit deeper into the world of NFTs there’s a good chance you’ve come across Whale Shark who goes by @WhaleShark_Pro on Twitter. While he’s decided to stay mostly anonymous, and for obvious reasons, Whale Shark has become a leader in the NFT community and likely has an investment portfolio that’s worth upwards of $100M.
Last week Whale Shark did a pretty in-depth interview with CoinDesk about all things NFT and I really enjoyed it. Okay, I enjoyed it so much I read it twice and there’s a good chance I’ll read it a third time. As someone who has invested in digital assets since 2007 I find NFTs fascinating and I’m like a sponge now, reading everything I can and dipping my toes in the water, learning as I go.
While I would recommend that anyone who wants to learn more about investing in NFTs read the whole article, I thought I’d share three nuggets there I found particularly interesting. So let’s jam.
- The NFT community lives on Twitter – in the interview Whale Shark noted that while he isn’t sure how it all went down, somehow Twitter became the place where the NFT community gets together. Yes there are telegram groups and two pretty big Discord channels, but Twitter is where it’s at. In the article he also shares key accounts to follow.
- 99.9% of the NFTs being released today will probably be worth $0 – this reminds me a lot of how people first get into domains. So many people read about domain investing, get excited, and go off and hand register a bunch of junk. They quickly learn that 99.9% of what they bought, isn’t actually an asset, and it sounds like the same is true with NFTs. This means really doing good DD and understanding even how to do DD in the first place is going to be important.
- Whale Shark looks at NFT projects like VCs look at startups – what I thought was interesting about Whale Shark’s investments strategy is that he does the same thing VCs do when analyzing a startup, he learns more about the founders, does a deep dive into current funding, and really tries to learn about the long-term potential of the project. This is where NFTs really deviate from domains, domain names are all about the words in the domains, and yes – how big the market is for people that would buy those words. But domain investing isn’t similar to venture investing much at all, NFTs are.
Of course there were a lot more than three nuggets in there, and my gears are still turning thinking about everything Whale Shark shared. It also convinced me that I need to get some $WHALE tokens and I’ll be trying to make that happen this week.
As usual, I’ll share what I learn with all of you! Oh and quick reminder, when it comes to NFTs not only am I not an expert, I’m not even a beginner, I am a total noob. So don’t take anything I say in this or any other post as advice, just consider it ramblings from someone trying to learn more about NFTs 🙂