Summary of The Current State Of The NFT Market | @Bankless Live

00:00:00 - 00:40:00

The presenter discusses the current state of the NFT market and how it has evolved in the past year. They emphasize the importance of accountability and how it is important to remember why you are investing in NFTs in the first place. They also discuss the upcoming collaboration between Reebok and Visa.

• 00:00:00 Gary Vaynerchuk discusses the current state of the NFT market and the V Friends project, which is designed to create and protect intellectual property. He also discusses recent collaborations and projects.
• 00:05:00 The speaker discusses their recent activities, which include hiring more employees and raising capital. They believe that the current state of the market is bearish and that the economy will eventually "crash." The speaker also discusses their tech projects, which include a new Discord chat app and an upcoming blockchain-based pickleball league. They say that they are focused and determined and that they will not be influenced by the market's fluctuations.
• 00:10:00 The presenter discusses the current state of the NFT market, highlighting that there is a lot of confusion about businesses and that some are doing well while others are struggling. He advises caution when judging a project's success based on its stock price, and provides examples of successful and unsuccessful NFT projects. He also discusses the importance of building a strong team and providing value to customers, emphasizing the importance of utility in the NFT market. He concludes by explaining that the key to success in the NFT market is finding a utility that consumers will want, and that it will take time for NFTs to regain investor confidence.
• 00:15:00 The video discusses the current state of the NFT market, particularly noting that some projects are seeing significant growth while others are experiencing more volatility. The author mentions that, as the market becomes more normalized, big businesses will enter the market in force.
• 00:20:00 The speaker discusses the current state of the NFT market and how it has evolved in the past year. They emphasize the importance of accountability and how it is important to remember why you are investing in NFTs in the first place. They also discuss the upcoming collaboration between Reebok and Visa.
• 00:25:00 The presenter discusses the current state of the NFT market with Bankless, discussing how there is no web3 aspect or NFT aspect to these products, just a physical product of a metaverse. He goes on to say that he brings value to these products by being a provider of access and background information for those who own series one NFTs, and by building Affinity relationships with other NFT project operators. The presenter also discusses how much work is still needed to be done in terms of developing technology and utility for NFTs, and how those who are interested in the space should get involved now while the market is still hot.
• 00:30:00 The presenter explains that there is a lot of hype and speculation in the nft market, but that there is also a lot of good innovation and new strategies being developed. He notes that while some operators are focused on short-term interests, the real leaders are those who are able to maintain a long-term vision and focus on their customers. He concludes by urging other operators to be as quiet and as focused as possible in order to create a more sustainable and successful market.
• 00:35:00 Gary discusses his thoughts on the current state of the NFT market, highlighting that he is happy to see some people selling out, but reminds them that their goal should be to build a successful business, not just invest in a cryptocurrency. He also mentions that he is not in the Collector Mode that he was a year ago, and that he is currently in "V Friend" mode.
• 00:40:00 The presenter discusses the current state of the NFT market and how it differs from Bitcoin and other cryptocurrencies. They also mention that the Toys R Us "Friends Shop" will launch on October 17th.