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Buying NFT Grails – Brandon Buchanan

Brandon Buchanan

On today’s episode of ‘Floor Is Rising’ podcast, hosts Sabre Tooth (Professional NFT Collector) and Kizu (A Professional Art Critic) talk with guest Brandon Buchanan, Founder and Managing Partner at Meta4 Capital, been in crypto a long time and now running an NFT fund. He explains why the Grail Thesis of investing in NFTs is the way to go.

Episode Highlights

  • 00:58 – Brandon shares how he got into NFTs and also how he came to found the Meta4 NFT Fund.
  • 03:15 –They’ve been trying to acquire the best assets, and most innovative and important collections dating back all the way to 2014.
  • 05:25 – Michael Jordan rookie card is considered a Grail and they certainly have some of those in NFT’s space.
  • 07:35 – Crypto Punks certainly continue to be, if not the top collection of all time, they are still amongst the top. So from a number’s perspective, it’s still there, says Brandon.
  • 09:20 – Brandon says, when they first put out the Bored Apes, even they themselves would admit that they didn’t think the project was probably going to be as big as it is now.
  • 11:48 – When they were mapping out the deployment of the fund, a lot of it meant doing this retrospective of NFTs to show where they’ve been, where they are now, and where they could potentially be headed.
  • 13:35 – Brandon wanted to have their own internal tools that they can use to be able to execute such a strategy.
  • 15:00 – When you look at the earlier NFTs like Rare Pepe or a Crypto Punk. They’d be very hard-pressed to say that’s a security, but that is essentially a form of digital art or digital collectible, states Brandon.
  • 17:35 – There’s just something so beautiful about hearing the base that everything else is built on top of, and it’s the same way with NFT’s.
  • 19:25 – There is just a ton of demand for new launches, and new projects that people want to get on the ground floor.
  • 21:34 – Brendon thinks, if they didn’t make that purchase, then at the outset, they probably could have gotten it for somewhat a bit of discount today.
  • 23:14 – Brendon talks what NFT projects are right now seems to be pretty fairly valued.
  • 25:35 – Sabre enquires, who these individual institutions are who will come into the NFT space?
  • 30:02 – We do need to De-Risk and help with UX, UI way so that people can interact with NFTs and that’s all part of the process.
  • 32:00 – Media is definitely going to play a more prominent role over the next several months in educating the market.
  • 34:00 – Brendon shares about his favourite NFT Artist and his favourite NFT collection.

Two Key Points

  1. Once you get into this realm, where you are doing Airdrops, where there is an expectation from the consumer that they’re going to profit based on the efforts of the folks that are running the enterprise, you start to get in a grey area of what’s the security or not. Even artists that now we’re seeing, use NFTs as a tool to essentially raise capital.
  2. Brandon highlights that we’ve entered a different realm of expectation that folks want their collections to evolve, that now it’s bigger than the art they want to be a part of a cool community. It becomes a sort of reflection of the kind of who you are. He thinks that’s a powerful driver.

Tweetable Quotes

  • “With NFTs, I kind of always had this philosophy or thesis around the tokenization of everything.” – Brandon Buchanan
  • “Some collectors have stuck to an opposite thesis that it’s better to collect floor pieces rather than those super rare pieces.” – Sabre Tooth
  • “By having these grails, we’re essentially having historical artifacts or digital antiquity.” – Brandon Buchanan
  • “Provenance in the history, for me, that is very important.” – Brandon Buchanan
  • “There have certainly been moments where I felt like we may be overpaying but the fact that you want a particular specimen, kind of mandates that you make a certain purchase.” – Brandon Buchanan
  • “Rare Pepes we believe are undervalued.” – Brandon Buchanan
  • “Most things end up getting fairly priced.” – Brandon Buchanan
  • “NFTs now have a very prominent voice in terms of helping people identify both collections that should be paid attention to as well as new artists.” – Brandon Buchanan

Resources Mentioned

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