Some Crypto Narratives for 2024:
* #Bitcoin ETF (almost done)
* Ordinals
* BRC-20 Tokens
* #Ethereum ETF (should pick up steam in Q2)
* Gaming
* The next #Solana (layer ones like SEI, INJ, TIA already seen a lot of upside but more to come)
* Artificial Intelligence (AI)
Here’s what really happened.
Before the 2021 NFT boom, some large punkholders (1000+ punks claimed) sold all / most of their punks — mostly below 3 ETH. But they still had 1000+ bugged contract tokens (”v1s”). A campaign was started to promote the “v1s” as the authentic version (“the originals”). So the holders — who had already sold their punks to other people — now started saying the “v1s” were the real deal. They came up with the V1 name and promoted the narratives.
There’s more:
Do you know why the contract was upgraded?
Because the bugged “v1” contract allowed anyone to buy punks from someone else — without paying for them. You could buy someone’s punk listing, get the punk, and not pay any ETH: You got the punk, the seller got nothing!
Most people didn’t exploit this bug. But some did.
Ironically, the person who exploited the most people was the large punkholder who sold 1000+ punks below 3 ETH — but who still had their 1000+ “v1s” — and who now became one of the most vocal leaders for the “v1s.” That’s why I haven't traded these tokens: I know how it started, how it unfolded, and the motivation behind promotion of the “v1s.”
I haven't said much about this. But I think history, actual truth, and how communities build and grow is important. Most people weren't here in 2017. It isn’t only about what’s first. Cryptopunks would never have blossomed without a community of early, blockchain-loving believers. A community with the foresight to value digital art—to trade it, to buy it. A community that was in agreement around the token they wanted to use. A token that gained value — in many ways, because of the community.
Of course we can buy whatever tokens we want.
That's the fun of NFTs and crypto-art!
But it's also healthy to know your history.
It's healthy to know what happened — and why
Especially if you're someone who cares about how we build and grow here
Disclosure: I claimed 108 punks (now have 144) and still have the 108 “v1s” from the bugged contract
@CredibleCrypto@HalloHMH76 💯if the above claim was true, Cred would never have a losing trade and we would be >$5 for CRV. Keep doing what you do Sir 🫡
@CryptoKaleo I love $Pengu but $1 calls feel like what everyone was calling on for DOGE last cycle. Feel like $Pengu may fall short too - fingers crossed 🚀