In this week’s podcast, Camila Russo talks to Zeneca, an NFT investor and content creator who grew his collection of non-fungible tokens from 0 to about 3,000 pieces worth millions in less than a year. He comes on the podcast to talk about how he went from professional poker player to full-time NFT trader, and what lessons from poker he has brought over to crypto. We discuss the importance of teams and communities when investing in NFT projects, and the key signals he looks for when buying NFTs. Zeneca talks about the difficult balance of using incentives to bootstrap community, while also providing value beyond those incentives, otherwise projects become unsustainable.
Zeneca believes the NFT market has hit a downturn amid rising crypto prices because it has become saturated with the same types of projects. He believes avatars will take a back seat to projects where NFTs have utility beyond displaying the art itself and being part of a community. That’s why gaming is setting up to be the next big movement in NFTs, he says. Still, he doesn’t believe we’ve seen a true bull and bear market yet — that will come when NFTs better integrate with DeFi and leverage comes into play.