Discover more from Crypto in the City by Violet Summer®️
021: Hot Takes On $SOL, Plus Boss Beauties NFT Drop 🙋🏾♀️
Are you investing in $SOL?
“Back then they didn’t want me, now I’m hot and they are all on me.” - NFTs
I was recently at a #MiamiTech event and ran into this guy from Brooklyn I met during #MiamiTechWeek, who had a different outlook on crypto and his whole appearance in general. For one, he streaked his hair blond at some fancy salon in Brickell. And two, he was raving about cryptocurrency, and the amazingness of $SOL, and why I should buy into this venture-backed project. I wasn’t shocked by his newfound stance because when I met him he dissed me for going to the “shitcoin conference” in Wynwood. Anyone who lives in Miami for more than a month will become super bullish on crypto. Just wait until Art Basel. 🎶
One of the reasons why investors are betting on venture-backed cryptocurrency Solana is because of its proof-of-stake infrastructure that has an appealing sustainability angle. Its immaculate growth over the last year is due to over $13M investment (Series A funding). The project has grown exponentially in 2021 as many eager crypto enthusiasts are starting to consider it as an obvious rivery to Ethereum and more opportunities to mint NFTs that require zero to little gas fees. Plus it only takes seconds to complete a transaction compared to Bitcoin’s every 10 minutes to mine a block. Early investors have already cashed in on $SOL gains as these lucky people got in for as low as $3 a token in January 2021. Now $SOL is worth over $190 per coin. At the time of writing this, over 65% of users on Coinbase are buying and holding, compared to selling which is a telling sign.
Solana is taking on one of the biggest challenges with existing blockchains- scalability. Designed from the ground up to be able to process over 50,000 transactions per second, Solana is built with scalability and speed in mind. This directly competes with other payment systems like Paypal or Visa. On top of this, Solana can achieve sub-second confirmation times, meaning users do not have to wait for their transactions to be confirmed. This makes Solana an idea blockchain for decentralized finance and trading – as traders demand near-instant trade times.
The below video highlights the history of Solana and why the charts are a recipe for a new smart-contract-powered altcoin and/or a rocketship startup. Gone are the days where I will be referring to projects as “shitcoins” on this Substack. Dive into the video below and let me know what you think in the comments.
Boss Beauties NFTs ✨📲💎🎉
Everyone’s going wild for Boss Beauties NFT drop powered by Lisa Mayer, founder of My Social Canvas. The platform’s mission is to empower Gen Z and young women of all backgrounds and they just released 10,000 custom and unique NFTs on OpenSea. Each woman is super unique in properties and rarity. There is only less than 10 percent of the violet-colored NFTs and the NFTs with the leopard print scarves are even rarer. I know because I spent several rounds of gas fees bidding on them last night and to my avail no luck! The trading floor is currently priced at around 0.3ETH and collectors and enthusiastic onlookers (like myself) are super engaged in their Discord channel. Each unique NFT comes with exclusive invites to virtual events and random Air Drops. The founder also announced that My Social Canvas and Boss Beauties NFT Drop Team have been invited to the historical NYSE (New York Stock Exchange) and to display actual NFTs on Wall Street. 🤗 TAKE THAT CRYPTO PUNKS!!! Please only buy your Boss Beauties from their official Open Sea page and beware of scams FRFR. (Side Note: I was also verified on Rarible. 🎉) Whatever NFTs, I land on next will be acquired through the Ethereum or L2 blockchain spaces. So shill me. 🦎💸
Meanwhile, it seems like celebrities and brands are minting on the Tezos blockchain, using emerging marketplaces like OneOf.com and Truesy.com to create a 360-approach to marketing successful campaigns to huge audiences. Doja Cat dropped several NFT variations on Oneof.com and promised her fans access to a Discord channel. To be transparent, I tried to buy the $10 NFT through my Coinbase account, and let’s just say my request to customer service is still pending because I never received the NFT in my account. Even though OpenSea seems to be the go-to marketplace to get your project trending on the Top 50 charts, I think there’s a benefit to minting on multiple blockchains depending on how much is in your budget and what KPIs you’re trying to reach. However, on the flipside, stick to mastering one marketplace within one blockchain. They are all different when it comes to the user experience. I've heard great things about ZORA, I just haven’t tried it out yet. Moreover, regarding OpenSea, you have to be very strategic when launching a collection because of the NFT price economics and tactics to acquiring and increasing your ETH.
Anyways, I can’t tell you how many people have been DMing me about “getting into Crypto” and want to know-how. Truth is, you have to do your research! Go down the rabbit hole yourself. A friend of mine recently went down the rabbit hole after getting inspired by my own ramblings. It was really rewarding to observe this type of reawakening and re-examining of the world we live in and how we’ll live in the future. The global creator economy is rapidly growing and the beauty of this industry is that no one knows what it's going to be in the next decade.