Who is gmoney? The mystery behind the NFT guru and Bored Ape collaborator in Adidas’s “Into the Metaverse”
nftjedi
As we wind down 2021–what a crazy year it’s been–there’s one thing I wish I could do over. I wish I had followed @gmoneyNFT, who is self-described as a “futurist. disruptor. ape,” and read his tweet from January 6, 2021. In a tweet that may go down in history as a watershed moment for Web3 and NFTs, gmoney explained why he bought a CryptoPunk for 140ETH (then a bargain price of $170,000). That tweet thread was basically hiding in plain view–giving everyone a tip about the incredible run NFTs would have in 2021. His explanation is embedded at the end of this post.
gmoney saw NFTs use as a “flex” for status online that provided both a guarantee of ownership and authenticity: “But with a NFT, by posting it as my avatar on twitter and discord, I can quickly ‘flex’ with a picture. Ownership and authenticity can be quickly verified online. It has the same effect as wearing that Rolex in real life, but digitally.”
The analogy to owning a Rolex watch is an interesting one. Elite brands bring status.
But that’s not the only thing, and it may not be the most important thing. Another intriguing part about NFTs that gmoney didn’t discuss is their use as a part of online identity. People can reclaim a certain level of privacy through online anonymity or pseudonymity. Consider that we don’t even know the names of the founders of the Bored Ape Yacht Club. Nor do we know the name of gmoney. Yet they are some of the most important innovators in Web3. They’ve all teamed up with Adidas in what may be one of the biggest corporate campaigns “Into the Metaverse.” People regain control over their virtual identity. It’s for them to (re)create.
This is a far different approach from Web2, where the founders of Facebook, Twitter, YouTube, and Instagram were known and famous. Zuckerberg even had a movie about him.
The backlash against Big Tech–Facebook/Instagram, Twitter, and Google/YouTube–is, in part, because people’s privacy are beholden to the decisions of companies, not people.
But Web3 is different. Privacy is prized. It’s not uncommon for founders to go only by their online handles. We don’t know gmoney’s name. We don’t know the names of the founders of Yuga Labs. When NFTs are bought and sold, the transactions are authenticated on blockchain. But the identities of the parties are not public.
This article isn’t an attempt to identify gmoney’s identity. Instead, it it meant to acknowledge his important contribution to Web3 and NFTs. He saw the potential for NFTs in January 2021. Not only that, but he went full bore into NFTs and has now become an influential player. So much so, that Adidas has recognized him alongside Bored Ape Yacht Club and PUNKS Comics.
Here’s what we’ve gleaned about him from the Internet.
3/ But that doesn't mean that the digital revolution hasn't already started. CryptoPunks are the first ever NFT. There were only 10,000 of them ever minted, each with their own sets of attributes.
5/ When I started down the NFT rabbit-hole, I didn't care for CP's at all. I thought they were too expensive and I didn't want to be the greater fool. But after spending time in other community discords, everyone kept telling me I needed a CP for the collection.
7/ When someone buys a Rolex in the real world, they don't spend the thousands of dollars bc of the watch's utility value. A simple $5 watch could perform the same utility. It is to "flex" their status. To convey, "Hey look, I'm well off, I can afford this expensive watch"
9/ But with a NFT, by posting it as my avatar on twitter and discord, I can quickly "flex" with a picture. Ownership and authenticity can be quickly verified online. It has the same effect as wearing that Rolex in real life, but digitally.
11/ If you're looking for a high beta play on BTC/ETH, you want to be buying AAA caliber NFT projects. And as of right now, CryptoPunks is at the top of that list. @larvalabs
