Before You F.U.D. or Sell, Remember This! | Episode 236

Kevin Sturmer 0:00
You’re listening to NFT 365. The first daily podcast on NFT is with your host Fanzo, talking crypto, blockchain, web 3, non-fungible tokens, metaverse, and

What the f*ck is a non-fungible token?

We’ll get to that. It’s time for today’s episode of NFT 365. The only daily NFT podcast minting an NF T every day for 365 days. Powered by the ADHD coin at rally.io. Here’s your host and digital futurist, the ADHD superpowered to Brian Fanzo.

This show is not financial advice. So, do your own damn research.

Brian Fanzo 0:46

What’s up friends welcome back to another episode of NFT 365. As always, we are super powered or sponsored, whichever you want to say by Crypto Business Conference. Crypto Business Conference is happening October 9, to the 11th in beautiful San Diego, California. Hope to see all of you there. And as we’ve been kicking off for the last couple episodes, I’ve been trying this new format where before we get into the show, we’re gonna get into the idea where I’m gonna talk a little bit about the projects that we’re minting each and every day. And I want to say like, I’m not like a basher or a hater of the metaverse or lands or that world. Let’s just say I have yet to have my aha moment in the in the metaverse, but I also understand the idea of, you know, land and the experiences and developing in the metaverse and personally like I think part of my problem has been the ones that I’ve researched that I’m like, I’m not sure apparently they become very popular. And then the ones where I’m like actually this one seems pretty cool. Not so much so I’ve I’ve kind of held back a little bit from actually minting a lot of land until honestly I found one I found a really cool one for yesterday’s mint. And it’s called Verse Estate and this is the they’re currently minting the the New York version. They already have minted out there, Los Angeles kind of location. But the thing I like about it is they’re calling it it’s an open social, hyper realistic VR metaverse. And if you’re playing your buzzword bingo at home, I think you just hit a bingo because that was kind of how they’re kind of describing their initial piece. But I will tell you that their team like the more research I did on this one project, it is on Solana, which to me is another I kind of think of that as a win a little bit over here. I feel like Solana is built a little bit better for this kind of web three technology that they’re kind of innovating over there. But they’re also a company brand that headquartered in Dubai, they have a really massive team with two big partnerships, including one with Coin Telegraph. And as you’ve heard me share in a couple of the last episodes, like partnerships, to me are kind of a big deal when it comes to a lot of these VR, kind of virtual experiences. So for me, like when I first saw this idea of like it’s a VR land, but it also allows you to have kind of like that social Metaverse 3d experience so we went admitted that for our Mint 365 I kind of liked the idea that it has a little bit of kind of like realistic view into like what you know, the world might look like. The other thing I liked about this project, when I was looking through it was I really went into their team, like I just want to like for me, like trusting a team is also just trusting that a team has an experience that they’ll be able to build upon. And so they’re still minting it’s called Verse Estates. We’ll include a link in the show notes, but this is the New York version is what we minted for yesterday’s Mint 365 in you know, kind of building on that theme, you know, today’s episode, you know, I’ve been getting some messages and I say some messages, let’s just say, I mean getting a plethora, which anytime I can use that word I will make sure to plug that directly into every episode. As it is my favorite word as it’s been my favorite word for forever, but a plethora of messages where some people are either flooding, which let’s remember flooding stands for fear, uncertainty and doubt. So when we say someone is flooding, we’re saying that they are spreading fear uncertainty or doubt about a project about a founder about you know, a group of people I’ve been getting some messages you know, I would say more frequently over the last couple of weeks from some people that are that are quote unquote giving me a heads up that like hey, you know, I don’t know if you’ve been following this product person or you might want to distance yourself from this person or I don’t longer believe in this project. Brian, I know that you hold them up and part of that has to do with I know my wallet is very public. So most people are very Be aware of what I’m holding in multiple different wallets. But I wanted to kind of address that a little bit, because we have to first understand that our our ability to give people the benefit of the doubt or to give people second chances or to be able to roll with people that might be, but that might be asking for forgiveness or asking for more time, our ability to do that, when we are currently feeling outside pressure when the market is down, when let’s face it, there are things going around in the world today that are very negative and very overwhelming. Our I believe, and like when I think of it from the psychology side, we have a tendency to not only jump to some conclusions, but in some cases overreact, react based on the environment around us. And that is perfectly understandable. But one of the things that I really wanted to kind of like, kind of hopefully, open out our perspective, too, and take a step back, is that if we understand that, right now, the market has really shifted, and it’s changed the way we’re buying and selling. If we realize that even, you know, I’m very blessed that you know, our podcast, you know, so many of you are still listening to the podcast. And I’ve heard from other podcasters that are like Brian, and some of their numbers are down up to like 50% of their listeners because of these current times that we’re living in. And so it’s very understandable that if things are a little bit down, that we might not be, as all in in different phases. But the question we often have to ask ourselves is like, are we going to hold others and maybe an NFT project or a founder, at a higher standard, than maybe we’re even willing to hold ourselves during these down times? And so what I mean by that is, you know, if there are if there’s a project that we’re like, you know, what, we can’t wait for them to deliver this, you know, this current utility, and if they keep delaying it, right, but yet, they’re, they’re telling us about it, they’re giving us updates, they’re kind of keeping us in the know, the questions, we have to really kind of come back and ask ourselves is like, what is it that we are like, are we concerned that Katie missed their first deadline, like, I’m just gonna be honest, most NFT projects are not hitting many deadlines early on, especially during these current, you know, states of the market. The other thing we have to ask ourselves is, what did we get in this project for, because I know a lot of people’s, let’s just say, your desire to pull the ripcord right or to eject or to, you know, you know, to pull the parachute and say, you know, what, I’m going to save what I have now, our desire to do that sometimes are is influenced by like the things like the floor price, or maybe the sediment of the entire community. But I think we have to take a little bit of a step back sometimes and realize, like, wait a second, like I was in this project, because of what they were going to deliver in month six, in month nine. If in month three, they’re not delivering what we have to ask ourselves is, do we trust that if they if they get their things together? Will they deliver something of quality, or maybe it’s like, you know, what they’re letting us in now. And if I can’t trust them to deliver part one, it’s no wonder that they’re not going to deliver part two and part three. And I’m not one telling people not to flip out or projects, not to pull the ripcord, I actually would argue that sometimes selling at a loss before everyone else realizes that they probably should sell at a loss is a great way to maintain your liquidity. But I do feel like right now is the time you’ll have to like, you know, check yourself before you wreck yourself in that state of like, like take a step back and say, you know, what, they might not be delivering on this, or they might have changed the dates on this. But I still believe in them at the core, or, you know what, I’m gonna give them a second chance. But I want to, I want to know, these type of things. The other part of this is, you know, is it a, is it a pile on conversation? Or is it something that is your individual thought, it’s very easy, and I fell victim of this as well, where sometimes I’ve walked into a conversation where everyone is, is talking about, like, you know, is kind of piling on a certain topic. And I’m like, You know what, they’re right. And I kind of I kind of jump in on that feeling. But the next day when I take a step back, and I’m like, You know what, like, I can see where they’re coming from. But if I’m looking at like, what I care about and the things that I’m worrying about, then you know that their influence shouldn’t influence my decisions. And so that to me, is a big one. The other one is and this is one that I mean I’ve had many sleepless nights, especially over the last month or two, with a couple of projects that I that I have cared deeply about and I care about the others that are holding the NFT is in as well. Is that your what is your by you putting out that Like publicly, right? If you tweeting or you bashing a product or a person or a project, if you’re starting to complain about them publicly, like, we have to, like ask ourselves like, What is our goal there. And we also have to recognize that it doesn’t take a lot of followers, right? You can, you can have a low amount of followers, but a lot of people from one project follow you. And by you simply, you know, making certain statements or proclamations is going to possibly influence others decisions. And so the question I always have to ask myself is that, you know, like, I’m one that wants to be real and as authentic as I can possibly be. But it also understand that sometimes, Transparency can get a blurred line with oversharing. And so that’s where I’m going to ask them to challenge us is like, am I oversharing, because I’m bitter and I’m frustrated, or am I sharing this to try to protect others. And let’s also remember what is protecting others mean? And I know, like, I’m a, I’m a recovering people pleaser. And when I say recovering, I put that word on there just to get myself feel better. Because I do have, like a massive, you know, I often overcompensate to my goal is to please others and not piss people off. And, and I am much more of a lover, not a fighter and, and for me, part of it is also is like, I want other people to come to their own conclusions on certain things, or certain people or certain projects. And I also, this is the thing I often asked myself, right, if I’m going to either talk negatively, or if I’m going to publicly share which projects I’m selling, or which projects I’m removing from my bag, what I have to ask myself is is like what are like, what are the short term and like long term impacts are repercussions of that. And then also taking a step back and asking my like, am I am I sharing that for me? Or am I sharing that for others? And I think sometimes we can believe that we’re doing that. You’ll for others, we want to protect everyone else. But if all of a sudden you’re putting out that out and everyone starts selling and the prices of their of someone’s NFT’s that they have starts going down drastically? Did you really help them right, like would have been? Would it have been better and like a private message? Right? And, you know, like, I I’ve kind of prescribed to this rule my entire social media life, right? Like, a I’m not gonna post things that I’m not okay with my mom seeing Right? Like, that’s always been a mama’s boy boy role of me and, and trust me, my mom’s message me sometimes just like, Brian, I, I’m disappointed that you share that, or I can’t believe that you put that out there. But I, but I’ve risked I’ve managed that kind of like risk versus reward. The other thing that I try really hard on is that, you know, if we’re going to be someone that understands that, like the Spider Man, Uncle Ben, right, like, with great power, comes great responsibility. You like I don’t overly promote a lot of projects? Because I don’t know what your version of successes, I don’t know. Are you looking at it from a what is this project going to look like in November? Or are you looking at it? What is this project gonna look like in 30 days? Or maybe you’re gonna be like, I don’t care. I care about what it’s going to look like a year from now. Right? I was on a phone call yesterday with a good friend of mine. And bless her heart. She’s like, Brian, I want to send you $6,000 I want you to put that into crypto by NFTS for me, spend the $6,000 put them into a wallet. And then I want you to remind me next July 4, that you did this for me. And I was like, well, first off, I was like, Ah, I kind of liked this challenge, right? Because now it’s like, well, what project am I going to spend? If someone had five $6,000? What am I going to spend? So I spent a little bit of my night last night going through me and like, you know what, like, what I would I jump in here when I jump in there? And then I send them a couple of projects. And I’ll tell you, they came back and we’re like, what if I made it $12,000 Because now I might want to get into a world of women and well the women is currently I get three and a half eath or whatever it may be. But the reason I say that is because in that person scenario, me flooding a project because they’re not delivering like this month or they’re in the short term. Like I don’t know if everyone is not logging in back into July right. And so I think that’s a very careful to be to kind of talk about that. The other thing is, like even if you’re back channeling it, even if you’re doing it via DM there’s definitely something to be said about people like you if they’re willing to badmouth this project. What’s the likelihood that they might be able to willing to badmouth me or the projects that I’m working on right and and I am very much like in the in the camp of like, let’s not go over you know, toxic toxic positivity and I am perfectly fine at calling a spade a spade and calling someone out. If they are doing something you’ll what I believe is, you know, immoral or against what I believe is like the lines but I’m all So very clear. And so this is the other part that I think we should put out there is if you are sharing about you either selling a project moving on or no longer involved in a project, whatever that may be, let’s add as much context to that, as you are comfortable adding, because a lot of times people are like, Oh, my goodness, they like and I’ve seen this, Brian, they’ll be like, Brian, I see that you posted four of these NF T’s for sale. Should I sell mine now, too? And it’s funny for me on that, because partially, I’m like, Well, do you know why I’m selling um, did you also look at the price I’m selling that might I list a lot of NF T’s at the state where I say, if someone buys this from me, I’m perfectly okay with it. Because I can buy back into the project at a lower point. Like, there’s a lot of NF T’s that I have up for sale right now, on my open see that, like, I have no intention, I don’t believe they’re gonna sell anytime soon. But if someone’s like, Oh, my goodness, I love this project. And that art is the one I want. And they’re willing to pay me like four eath, for a project that has a floor of point four, I’m going to give them the opportunity to buy it, because now maybe I can buy two or three of that project. So like Don’t, don’t let like some triggers or some, you’ll like some data points, that we often make assumptions based on certain data points, without like taking in the whole context. And I always like to put out there, right data, without context is just information, right? It’s just, it’s another set of information. But data with context gives us the story to understand all of those moving parts. So like I am very clear in whenever I am talking, and I tried to do this on both, like on positive and negative, I tweeted out this morning, and said, Hey, I haven’t been a huge fan of Metaverse, land buys. And I’ve studied them for a good while. But I found this one on magic eating that I really like. And I bought it for the mint 365 collection, check it out. To me, that context allows people to make their own decisions. I’m not, this isn’t me pumping my bag, I’m literally telling you, I’ve done research. And I’ve added to my collection. And so this is that that area where transparency, when it’s involved in context, can be really powerful transparency, or what we can call oversharing. Just because we’re bitter or mad or sad or disappointed, can oftentimes do not only more harm to a project or others, but it also can do more harm to ourselves, and even do harm to those that we might care about in the project. And I’m just gonna put this out there. Every single founder, when I find a founders Twitter account, I don’t just look at what they’re talking about, of their current project. Because let’s face it, almost, I mean, if you’re anyone that listens here, I believe you must be a collector, before you are a creator of an NFT project. Let me say that, again, I’m very clear about this. I’m very passionate about this, we must you must collect NF TS before you create your own collection. And this is coming from the, um, the precedent button guy, right? Like I love helping people press the down button and take action. But in this space, it’s really vital for you to be a collector first. And so what I like to do on someone’s Twitter account, is I go back, like I go back six months. And I’d be like, what are they? What were they talking about, about NF T’s six months ago, four months ago, three months ago. And if I noticed that they jump into a project, they promoted heavily. And then when the project doesn’t do as good as they want, they bashed that project a lot. And then they’re asking me to mint their project as if like, they’re all of a sudden now let’s figure that all out. Like to me that is those are signs and triggers that that might sway me one way or the other. Now, I’m not saying that you’ll like that I don’t want people to feel pushed forward, or to try new things or to talk about new projects. But I think we have to be very careful in the balance of what we share and how we share it. The last thing is, is that I know for a lot of people, the NFT space has been the very first time that they’ve had a following or had influence or had a brand where people are, are making decisions based on what you’re doing. Right. Like true influence to me has nothing to do with foot social followers. It has everything to do with who are the people that are following you that are willing to take action based on either what you’re saying what you’re doing, or the things that you’re talking about, right. Like it’s the it’s your ability to influence action shows true influence. But with all of that being said, we also have to be very understanding that some people have never had that before. And it can be a little bit.

Brian Fanzo 19:40
Let’s just say what it is right? It can be a little bit overwhelming. It can be a little bit of a dopamine hit that we can’t get enough like,

Brian Fanzo 19:47
Oh my god. It’s so exciting that everyone’s jumping. When I say jump and if I say to get in this project, they’re getting into it. But just remember, there’s also the downside of that, right? The bashing that comes with that. And I’ve had people in my DMs Even though I try really hard at putting out there, my why I’m making decisions. And people are like, you know, Brian, I went all in on this project because you interviewed someone associated with them on the podcast. And now the project is falling apart, how dare you like you’re a piece of shit. Like, I, I can’t believe that you’ve done that. And I have to recognize that like, they’re, they’re hurting, they’re mad at their own decisions. And they’re blaming me, but I know that I’ve added that caveat, I’m comfortable knowing that I when I when I put out recommendations, or I interview people, I’m very transparent in where I’m kind of putting that and so we have to also give people a little bit of a benefit of doubt, like, so if someone messages me, or some of you that might be listening, some of the ones that have messaged me over the last couple of weeks, just know that, like, I understand that might be like, Hey, you’re trying to figure out that balance, right? So like, I’m gonna, I’m gonna challenge us all to, let’s give people a little bit of grace. If we see them talking bad about a project, let’s also give people grace, if a project is not currently delivering, maybe at what we expected them to deliver at this moment. Now, with all of that being said, there are some projects that I hold in my bag, that I am just like, You know what, I no longer trust the founders, they’ve they’ve checked enough boxes of, of, you know, they haven’t been communicating, they, they continue to put out false promises, they, they rather kick people out of a discord or block people, then then just admit that they’ve done wrong, or they haven’t been, they haven’t been as active or haven’t done the things that they’ve said. And to me, that’s really, you know, you have to kind of make those judgments on your own. But I think before we jump to a conclusion before we all of a sudden just sell, you know, selling all of our NF T’s for a certain project, like we have to take a little bit of a step back. And we have to like kind of like, understand, Okay, what did we get into this project for? What are the current signs that we are we are seeing or hearing? And then is it better of getting out now or getting out later, and I will tell you, some projects, like I might be like, You know what, I no longer have faith. But selling the NFT at $80. Right now, probably isn’t, isn’t a positive either. So you know what, I will hold it. And this is what I do on my spreadsheet, I put it there. And this is maybe this is like the tip for everybody here is I put like a baseline or a bottom of what I will sell a certain NFT for. And if all of a sudden the floor price gets to that I just sell it right? Because I’m like, You know what, I determined this a while ago, right? Like, there’s one project that jumps to mind. Therefore, price just jumped, I believe 2.06. And I was like, Man, I’m into this project pretty heavy. I know that their mid price was much, much, much higher than that. But selling at a point oh six right now to me, just seems like a loss loss completely across the board. So what I did was I went into my my piece and I was like, You know what, if the floor gets back above point, one, five, I’m gonna sell half of my collection. And then if it gets to a point to one, I’m gonna make another decision about removing myself from that that collection. Now, that’s nothing that I’m putting out publicly, right? Because I’m not I’m not out here to bash that like project or put that out there so everyone can see but I want to manage my own expectations. And I will tell you, I’m pretty good at sticking to this for anyone that remembers the goblin story. Like when I meant to goblins. Originally I was like if it gets to a point nine three floor I’m done. I’m going to eject that’s that’s the perfect return on my investment. Am I Am I time, the minute it hit point nine, three, I put it up for sale and it’s sold. Now. I woke up the next morning it was the floor was 1.7. And I was like, Oh no, like, what the hell was I doing? But the funny part about that was I didn’t like I wasn’t like bashing myself because I knew that when I jumped into that project, I think at point o nine or whatever it was that I knew that like my threshold for my gain was at that certain amount, right? So then I went back to when I was like, Where can I buy back into goblins? Like what would the floor need to be? And so these are things that you should be doing individually. Because what what I’ve also noticed is that if I hear people starting to talk negatively about a project, I will jump to that spreadsheet and go okay, what was my what was my baseline on that? Okay, okay, I mentioned it this price, you know what I I’m gonna keep faith, but if it gets to this level, I will probably eject. And that’s the part of this that most people just don’t understand when it comes to selling NF T’s like it is way harder to sell NF T’s especially NF T’s that are rarer than it is that most people will ever tell you right like people make it seem like oh, I picked my price on open see I set it for sale for three days and then I just sit back and twiddle my thumbs and bam, there it is. It’s sold the east in my wallet I got what I wanted for it and I move on. I will tell you sometimes where I want to sell a project for a certain amount. And I’m like, You know what I if I dropped it point oh two, you know, I could probably You know, I could probably sell it now. But you know what, I’m not going to do it. And all of a sudden the floor drops point two. And then I’m like, Oh, my goodness, if I could have dropped 2.02, I could have sold it. But instead, I was being stingy with that point oh two, and now I’ve lost, you know, instead of instead of dropping $35, I now have lost $350. Right. So like, these are all things that you just have to take into account. And I just, I also just, you know, ask everybody that, you know, when you just see certain actions that people are taking, don’t just take them for face value, do a little bit of research about why someone might be doing something because a lot of times someone might be selling an NF T, not because they don’t believe in the project. But because they want to build liquidity to buy him, maybe a rare one in the project, right? Like, if you would have went back, if you were watching my wallet back in October, November of last year, you would have saw me in one day, sell four of my crypto chicks, you will be like, Man, Brian’s done, we should all sell our crypto check. But little did you know, I was selling all four of them to buy the rare one that I wanted to extract that eath. So I could buy into the one that I really, really wanted in that collection. And so be just be very wary of a lot of those data points. And also just recognize that, you know, negativity breeds negativity. And when we’re piling on, and during this current state, it can be very easy for us to just kind of like, let that bleed into our decisions and what we’re talking about socially, but you’re like, I’m a believer in so many of these projects and the people. And I’m also a believer in second chances. I mean, my, my favorite baseball player in the world is Barry Bonds. If that doesn’t sell you that I believe in second chances. I don’t know what I don’t know what else could possibly be is like, I like that’s my favorite baseball player. And I understand people can talk about steroids, or they can bash him for things that he’s done. But I’m also one that like, I’m judging him for well in the baseball field. And I believe the era that Barry Bonds was crushing it was a steroid era that everyone was on steroids. So anyhow, go down to Barry Bonds route, you’re gonna get me fired up. But I say all of that, because we also just have to recognize that, like, do we know what the founders are going through in their personal life, and with their mental health with the world around them, like, know that we might not know that and I would challenge like, if you’re a founder, this is where that transparency and that access to you can work in your favor, right? Because if you let people know, like, Hey, I got COVID, or, Hey, I’m, you know, I’m taking care of my kids this summer, because of some of the decisions we had to make. And I have to, you know, I have to stay home with them. So I might not be as active as I, as I maybe had thought I would be, the more that we can own those things, the better, it’s going to allow people to have the context to make correct decisions, because I will just tell you, there are a couple of people that that have messaged me that I hope they don’t remove themselves from a couple projects, because I believe those projects come this fall are going to take off. And I think they are going to be regret not only selling at a loss, but selling based on the FUD that they’ve heard around, rather than their own individual decision. So I hope that it kind of inspires you to we just really, really have to consider a lot of those things that are that are out there and, and how these different things influence us. We also have to remember, you know, surround yourself with people that understand what your version of success is and what you believe in. Right. And that that is kind of a beautiful thing. And finding those people, of course, is always one that I you know, is is a fun thing in this space to find those people that are aligned with you. And one of the ways you can do that is you know, checking out our sponsor events, the crypto Business Conference, happening October 9 to the 11th in San Diego. One of my favorite things about these in person events is that idea of like, Hey, if you’re going in sitting in this talk about the metaverse, you must be interested in the metaverse as well and connecting with those people that are in the room and and that can be on top of lots of different levels. So definitely check out different events in your area, different events that align your eye like you know, I’m a big fan of what the crypto Business Conference is working towards because it is focusing on the business aspect of this entire web three space from your NF T’s to cryptocurrency to Metaverse to web three to even social tokens like our ADHD coin. So definitely check that out social media examiner.com/nf t 365. And my friends, you know, it was the it was the holiday, we are kicking through the month of July, for those that are listening to this in kind of real time.

Brian Fanzo 29:32
You know, take you know, take a chance on yourself. Remember that you’re like a lot of the things that you believed in early on, or the things that you jumped in, just because markets down and and the things around us are down doesn’t always mean that what the decisions you made were wrong. I’m just gonna we have to give ourselves a little bit more grace as well. Right. You know, I always laugh like I bought it I own a Jeep Wrangler. And when when the gas prices are low Oh, I talk about how much I love that Jeep Wrangler. But as soon as the gas price goes to $7 a gallon to fill up my tank, all of a sudden people are like, you’re an idiot for driving a Jeep Wrangler? Well, if I don’t remember why I bought that Jeep Wrangler, and the memories it has, and the reason that I love that vehicle, it’s very easy to be like, Man, I’m an idiot, I should have bought a Tesla. But let’s face it for me, then we’re not even not even competing in that same thing. So, you know, it’s easy for us to question our decisions. You know, Monday morning quarterbacking it doing it today saying Why did I do that in February, but trust yourself that the decisions you were making in February, were based on the data you had at that time, and your belief in where this all was going in the future. So until tomorrow, my friends make it a great day. Cheers.

Kevin Sturmer 30:47
This show is not financial advice, so do your own damn research.