brypto

this seems true - related, punks specifically feel emblematic of a specific cypherpunkish ethereum L1 culture (stuff like terraforms, xcopy also fit here). the decline of $ETH the asset, and Ethereum L1 as an execution layer, has also led to the decline of this specific culture

i think i used to think punks where like, the premier scarce cultural artifacts in crypto, but this no longer seems true to me, they are specifically the premier artifacts for *ethereum L1*

so ETH L2s can "win", but if $ETH continues to underperform and people don't use the L1 then i'd still be bearish punks

cultural relevance of punks has nothing to do with ETH price imo. 

punks, xcopy and few others - are already beyond some of these chain games

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they are sick but their broader relevance is conditional on the relevance of ethereum imo 

possible for niche group of eth natives to always think they’re sick and also think that group won’t grow much in the future if ethereum culture doesnt

i am skeptical, they’re already a lot less relevant today than they were a few years ago. they’re now viewed as boomer/ETH OG coded whereas they used to be viewed as cultural stewards across all crypto (imo)

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i am skeptical, they’re already a lot less relevant today than they were a few years ago. they’re now viewed as boomer/ETH OG coded whereas they used to be viewed as cultural stewards across all crypto (imo)

https://warpcast.com/six/0x6e44b437

what are a few culturally relevant NFTs on other chains now that some of those chains are booming, say on SOL?

punks appearing a lot less relevant today is a manifestation of NFTs in general being less relevant.

yea I agree with that view that’s definitely also a factor

but I am not even talking about like ETH vs solana here, I am talking about like ETH L1 vs ETH L2s. it seems objectively true that ethereums cultural and social layer is transitioning to L2s and my hypothesis is this has a structural change on how new people in crypto (those who create culture) view/value ETH L1 cultural assets

the ppl who value punks today are those who “grew up” on ethereum L1. people who onboarded via eg base/FC don’t care about punks imo

what do you think about the patrons and collectors of culture from this perspective?

i guess i think they won't. idk what they WILL value, or else i'd be buying that lol, but there's a lot of things that are scarce and old but not valuable. i'm presenting the case that punks may go down that path, the valuations for these assets are predicated on cultural consensus around status and it feels like that might be going away for punks

i'm sure some people will continue to value them and there will always be a market for them. if and when i can ever afford a hoodie i will prob buy one myself because i personally value them - i just don't know if others will continue to. but mostly i think punks are more tied to eth L1 than crypto broadly. so punks succeeding requires ETH L1 to succeed, not just crypto succeeding.

You were presenting the perspective of L2 culture creators and their waning esteem/valuation for cultural artifacts minted on L1 

Curious how you think collectors and patrons may be evaluating the growing base of digital artifacts across the different layers

Do you think they’ll value the scarcer older L1 artifacts lower over time in the same way as these new L2 creators are?