The Founders of https://twitter.com/lasso_labs
and Karthik Thiyagarajan
talk about the NFT search engine they built.
Summary
How did you get into NFTs?
0:00
Combining NFT data silos seamlessly to power new use cases.
4:26
Non-speculative use cases of NFTs.
9:39
Crypto-native games.
15:07
How Lassolabs index NFT data.
19:27
Learnings from early product feedback from users.
25:24
Utility as a proxy for NFT community health.
30:08
Boffin talks about how NFTs is an emotionally loaded term, and that many people would buy NFTs if they were not called that.
Boffin talks his theory of why reddit NFTs will accrue value, and the longer the collectible lasts, the more people get on board, the oldest ones will be worth the most.
Boffin says the earliest people have the best handles on twitter, and that they can use flex to stand out.
Boffin says that Reddit NFTs is a pretty big bet personally for him on the long term future of them.
Boffin talks about how the product decisions of the Reddit team have an impact on the future value of Reddit NFTs and how much they want to support the project.
Boffin says owning the collectible avatars makes owners financially invested in reddit making good product decisions going forward. Boffin mentions the governance stack they’ve built on Arbitrum.
Boffin talks about how he evaluates projects in general and talks about how to predict if a narrative will take off. Boffin talks about various narratives that he thought would take off but hasn't including Cool Cats. It has been directionless and the floor of the cool cats community has dropped.
Boffin discusses the narrative of Squiggles as another example of a narrative that didn't take off like he thought.
Boffin discusses his favourite nfts and says he like buying from small artists.
Timestamps
How he got into crypto in 2013. 1:33
The amount of capital he’s spent on reddit NFTs. 7:41
How to stand out in a digital world. 16:58
How much does reddit want to continue to support NFTs? 22:50
How traits work in Reddit NFTs - 25:56
NFT thesis that didn’t work out. 32:46
Coolcats, an example of a narrative that didn’t take off. 39:09
What is your favourite NTFT and why? - 43:30
Links;
https://twitter.com/NinjaBoffin/status/1585626484731174912
Episode Show Notes
Conor Moore discusses the two schools of thought on NFT lending markets, the peer to peer market vs the peer to pool market. And the various pros and cons of each approach. Conor Moore talks about how the inspiration for Metastreet vaults was to take the benefits of peer to pool and overlay that behind the peer to peer market.
David Choi discusses Powersweep, an integration to increase captive use case for the vaults. David Choi notes that early on, users of the vaults were doing a positive carry trade because of the low cost of capital. That use case disappeared with the bear market onset. Now, they are pioneering use cases around leveraged NFT trading.
Conor Moore talks about the how the leveraged purchase of NFTs is similar to real world examples of leveraged purchases such as real estate. David Choi notes that he didn't like the trad art lending markets because it’s slimy, fascinated by cash flow generating NFTs. David Choi talks about his vision for what Metastreet is building.
David Choi discusses the Metaverse Economic Forum (MEF) and notes that their goal is to bring builders together into a more cohesive community to create the capital markets of the metaverse.
David Choi and Conor Moore talk about what their favourite NFTs are.
Timestamps
The bad and the good of peer-to-peer lending markets. 6:06
What is the use case for NFT lending? 11:17
What are the differences between how people use borrowed funds in the art lending market vs. NFT lending? 16:12
What is the non-recourse art lending industry?
19:43
Do you think that a completely different demographic of people needs to come in order for NFTs to go "mainstream"?
25:15
What’s the future of capital markets in the metaverse?
29:34
Liquidity and price discovery in the metaverse.
37:41
Links