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@rev
#9 /nft AMA ft. @avichal & @zedd @avichal is Co-Founder & General Partner at @electric Capital. He's a serial entrepreneur, ex-Google and Facebook tech executive, and a prolific investor — NFT investments range from projects like Magic Eden and Wasabi to NFT funds like Spencer Ventures and @curated. @zedd is Co-Founder & COO at Magic Eden, the leading community-centric NFT marketplace for discovering, expressing, and owning digital culture. 📆 Fri, 16 Aug @ 10am PT — ask your questions in the comments!
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@rev
your thoughts on the current NFT market? what would you like to see more of?
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Avichal Garg
@avichal
We're coming out of the Trough. There are many interesting experiments happening across chains. In many ways, the Eth L1 ecosystem is the quietest of these ecosystems right now so people who primarily pay attention to ETH are missing out on BTC, SOL, and L2 experiments. If you look at NFTPulse.org metrics, you'll see lots of activity across chains and marketplaces right now. I'm especially excited about what's happening in the BTC ecosystem because that ecosystem is so large (from a wealth effect perspective and global user perspective). It's unlocking even more innovation on top of BTC, i.e. OP_CAT discussions for L2 rollups on BTC L1. I would to see more experimentation with NFTs as infra for capital formation. Capital formation is one of the killer features of crypto and thinking about how NFTs can help raise capital beyond the 10k PFP drop is a big opportunity. For example, could we represent intellectual property as an NFT, fractionalize it, and crowdfund campaigns to buy critical IP as a community?
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Zedd
@zedd
Bullish of course As a macro narrative i think it has obviously been relatively more quiet -- but people may be surprised to hear that ME is having it's best year ever on all metrics (even better than the last bull market). So there is definitely a good amount of activity and experimentation going on -- we see it first hand on all the different chains because we are on sol, eth, base, polygon, btc. There is something different to try in each of these ecosystems eg cNFTs on SOL, OEs on Base, Runes / ordinals on BTC etc. Each is its own playground - and ME is like the gateway to it all, as it no doubt continues to expand. Would love to see more creators experimenting with it (big goal of ours) and lower barriers to entry (eg if the only way to experience it is to buy a super expensive ape, that's gonna be pretty hard to bring in a tonne of people)
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