Good evening future NFT whales and valued VanEck NFT Community members!
This note kicks off my periodical message, one of the many benefits you will receive as VanEck NFT Community Member. In the notes that follow, I’ll provide you with updates on the NFT landscape, interesting projects and timely opportunities that you can take advantage of, and alert to you any other interesting developments within the space. In the first few messages, I’m going to stick to the basics, as our community is a blend of those who consider themselves to be crypto-native and those who come from a more traditional finance and investing background, new to the crypto world. My only promise going forward is that I’ll strive to teach you more about NFTs and their potential use cases. Let’s dive in!
Summary of today's notes:
Today’s featured project: Seekers/SYLO
Project-specific Alpha
Podcast recommendations
1 - What are Seekers/SYLO?
The Seekers project is backed by the SYLO token and application that’s available on Apple’s iOS and Android. This P2P or “Wallet-to-Wallet” application provides a medium for users to conduct payments and communications across a decentralized network.
You can consider SYLO a combination of WhatsApp and Venmo, merged into one intuitive, decentralized application, solving issues related to private payments and general data sharing.
Unlike our current smartphones, whose data is stored by a central server which is then sold to third parties for advertising, the SYLO network allows data transfer in a secured, encrypted manner.
The app supports a smart wallet that allows easy exchange to and from friends in the form of communication including video conference, voice and text. The best part is that no one has access to your data! The app also allows the purchase of crypto within the app. You can earn yield by staking specific tokens and you can spend crypto at various global vendors.
The momentum that SYLO is currently experiencing is partly tied to their recent distribution of “Seekers”, one of the largest NFT mints in the history of the space. The project minted, created and added to the blockchain over 48,000 high-quality, fully rendered avatars; ready for exploring a truly open metaverse.
A massive benefit of Seeker’s distribution method is that the release introduced the NFT world to their decentralized P2P app. Even more importantly, they’ve designed the distribution so that going forward you would need to own a Seeker in order to run a node. This nuance provides a clear bridge between the digital world and our own. You can visit a secondary marketplace like Opensea.io to take a closer look at the NFTs: https://opensea.io/collection/the-seekers
I own these assets myself, and this is not financial Advice, however I use the Seeker project often as the perfect example for the potential that Web3 has to offer.
2 - Project specific Alpha. When it comes to NFT projects, “Alpha” is differentiated from the traditional finance term of Alpha. In terms of its use with NFTs, it essentially means “leaks of information” that may result if better upside. For instance, related to the Seekers mint, if your Seeker had a chassis tied to the ATEM Car club, then you may be eligible for a free ATEM Car Club membership. The Alpha comes into play as having advance knowledge of these leaks may result in better trading of your digital assets.
A common misperception is that this may seem like insider information or unethical behavior. In this case of NFT projects, these LEAKS ARE SHARED ON PURPOSE! The projects like to reward the most engaged users who are paying attention to announcements, community chats and even who solve various puzzles…similar to the one currently at vaneck.com/NFTcommunity.
As I introduce you to new projects, I’ll be sure to drop Alpha going forward. Again NFA, do with it what you will.
3 - Two Podcast Recommendations. 1st - Get to know Me! I recently did a Podcast with UCLA Professor, Beverly Macy. If you would like to get to know me a bit more, learn about other various NFT projects and more detail about the VanEck Community NFT, then take a listen.
2nd, NFT Alpha Podcast. I listen to this one frequently. They provide great intel and provide current NFT landscape and market price updates.
Tips of the day:
Not your keys, then not your crypto! I recommend getting most of your crypto off of exchanges. If you have more than $1000 in digital assets, then invest a cold wallet and protect your private key with something that is fireproof, safe and easily concealable. I recommend Billfodl or CryptoSteal. Both options are around $99. We will be having a Web3 Tea YouTube show with a guest from Ledger, a cold storage solution company. Mark your calendars for July 13th.
Authored by Matt Bartlett, CAIA
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