Tyler Warner Drops 1,000 ETH Due To ‘Rock Star Complex’: NFT Collector

Tyler Warner, aka Tyler Did It on X, has become one of the leading sources of content on what's happening in NFTs and crypto. In the year During the NFT mania of 2021-2022, he took his ideas and sent his career in a new direction.

Tyler captures a wave of Art Blocks as well as Azukis, Moonbirds and Pudgy Penguins. At the top, the NFT portfolio was worth about 1,000 ETH, but like many JPEG fans from this time, NFTs gave away most of the paper wealth when they hit a brutal bear market.

“I screwed up everything. I think I ran about 1,000 ETH or about $3 million at the peak in August. [2021]. During that first full cycle I fell a bit into the rock star complex, thinking I'm the best businessman out there, and I'm very good at it. Everyone in the bull market was really like a genius; It was easy to get caught up in the moment,” says Tyler.

“Then you think back and say, ‘Wow, I didn't learn how to hit that sell button in that cycle. I hit it big on Art Blocks and it was a downhill period. Then I did well on Azuki, who ran a bit, and then I did really well on Moonbirds. I was buying birds on the first day. But I didn't really sell or understand at the right time because I thought NFTs were the new paradigm shift. I thought it was just too long.

The GameStop saga was an incentive to get in.

As a former banker and corporate consultant, he said he sees the GameStop saga in early 2021 calling into question the legitimacy of the TradFi system.

“When Robin Hood shut down and stopped trading after the first few moments, it really started to feel like a rigged system in the traditional stock market.”

“The crypto that solved this was a small light bulb. That cannot happen in a decentralized crypto market,” he says.

Feeling that his tenure as a financial services consultant was contributing to a rigged system, he shifted his focus to NFTs and crypto, and resigned from the firm in August 2021.

Within days of doing so, he launched his YouTube channel and doubled down on creating content about Web3. By the next month, he was working full-time for Lucky Trader, and today, he writes The Morning Minute, co-hosts FOMO Hour and still works for Lucky Trader.

“The crypto world intrigued me. It felt like a new frontier, and it felt like a market where I could have a voice,” says one of the partners at the former consulting firm, recalling how good career development involves working on your core skills and being yourself. Mentoring, leading a practice and “Ultimately, you want to have a voice in the market.

“As I was looking at my career path, I struggled to see how I could have a voice in this market. I felt that crypto was a more interesting sector and that I would be happy to be seen every day and maybe develop that voice.”

The future of sports collections is digital

As a big sports person, Tyler is an avid fan of the NBA and NFL, having been at X before crypto revolved around sports. He remains bullish on the future of digital sports collections.

“There were two things that clicked in my head in 2021. One was digital art and how it means so much on so many fronts, including the ability to look at art at any time and store it in an airport hanger. The other click was sports,” he says.

“A good friend of mine was getting into physical trading cards and baseball cards. He had a few thousand. He had to go to these trade shows to sell them and put them in good condition. In addition, storing them and protecting them from sunlight was very difficult and excessive.

“When Top Shot came out, I just clicked that it was better. You have 24/7 global access to buy and sell these cards. You don't need to worry about the situation. You don't need to worry about maintenance, and the overhead is zero.

Tyler thinks the NBA Top Shot, a key driver of NFT adoption in 2020 and early 2021, still has the upside and recently bought more to accompany his Victor Wembanyama rookie moment.

“I got into Top Shot. I bought a tip four days ago. I was a genius for a short period of time, doubling and tripling my portfolio, then everything collapsed,” says Tyler.

“I have a Victor Wembayama rookie moment, and I've sat down and watched him a few times before because he's put together so well and this feels like the future. If you believe that sports collections will still be a thing in 10, 20 or 30 years, which I do, I think there should be more penetration into the digital space.

A self-confessed Pengu maxi

One of the few PFP NFT collectives that has bought the lowest price action in the last 18-24 months is Pudgy Penguin led by Luca Netz. Much damaged by previous ownership, Pudgy has undergone a rebirth under the Nets since taking over in April 2022.

With 10 billion + GIPHY views and physical toys with the world's largest retailers including Walmart, Netz's vision and execution to capture share of thought with a major social media and digital footprint is evident for the Pudgy brand's execution. .

Tyler Pudgy is a self-confessed pengu maxi who bought it in double figures and sold it close to the top before the previous owners left.

It's one of the first sets I've found in 2021 that's a good size. I withdraw 10 for 0.2 ETH or 0.3 ETH. They ran to 50% and I was looking to sell, and it appeared to me that I did not want to sell any of them. I loved them all. I couldn't pick my least favorite,” he says.

“I rode the wave to the 4-ETH floor, but I wasn't really a fan of the main owners behind Pudgy. When I saw what they were doing, it was the highest I had ever sold on Pudgy. That was one of the few times I've done that for a set, I just let it all out.

“Then Luca came back in, and I could see that this guy had some potential. I know from my experience at 2021 that Pudgy Art is good, and a lot of OG crypto guys are caught up in it, so it has a built-in network, which is a nice feature. I think I bought the current wizard hat PFP when the floor is around 3 ETH. (It was 7.6 ETH at the time of writing).

OSF and Mando's famous business is putting more than 70 Bored Monkeys into fuzzy auctions in February 2023 for more than $9 million, something Tyler hopes to emulate with his pudgy collection.

“I aspire to be what OSF and Mando of Pudgy Penguins once did to monkeys. I made up to 10 stacks, but didn't stick to the thesis, and started selling some and chasing other things. Eventually, it's down to five and then three and then I'm down to just one. If I had stuck to that thesis, it would have been the right one. I just didn't execute it, unfortunately. I'm still incredibly bullish on Luca. Cryptopunks aside, I still think Pudgy is the most supported set.

A rapid-fire Q&A with NFT host Tyler Warner

Favorite NFT in your wallet?

“It must be my pudgy.”

Favorite 1-in-1 art class?

“My Grant Yune piece, ‘Painting the American Gothic.'

Favorite NFT artist?

“Alpha Centauri Kid.”

If you had to hold three memecoins for the rest of 2024, what coins do you think would be in your wallet?

“WIF is 100% there. It will remove all political coins until the end of 2024 because I don't know if those will last after the election. I am bullish on the RSIC token, the rune coin on Bitcoin and I am happy to hold it by the end of 2024. Finally, I I really like the PacMoon. It has legs I think, and it's still relatively cheap compared to the others.”

What was it like joining Rag Radio's FOMO Hour show?

“It was great. I think these people [Mando and Farokh] They are a dream team; (There are) big shoes to fill coming up behind OSF, and it won't go away forever. Mando was my inspiration for doing the NFT cover, and Farouk is driving the ship. He is the captain; He has energy and brings it every day.

The best thing about crypto?

“luck”

The worst thing about crypto?

“Bad Actors”

Who are your 3 favorite followers for NFTs on X?

Let's go to Stats, Mando and then Thread Guy to keep in touch with Gen Z.

Your top tools you use every day to keep track of everything?

“Dex Screener, The Blast Landing Page, Blur and Magic Eden for Runes and Bitcoin Standard.”

Great resources and information

“The Mandos Minutes are great, but I don't read many dailies because I don't want to distort what I write myself. For inspiration, I say milky way. I think it's the single best newsletter, and I draw a lot of inspiration from its writing style.

Advice on how to survive NFTs and crypto in the long run?

“Just know it's a marathon, and learn when to switch. Basically when you put your foot on the gas and put your foot on the brake so you don't burn out. Don't listen to people who say you should be on nap time – no sleep period is completely energetic. You can build good positions and make a good business from 9 to 5.

“Don't feel like you really have to burn the midnight oil. I think it's just developing a thick skin, and it's going to be rough there. In a bear market, you can go down on things, but know that there is more good than bad in this space – even if the bad sometimes outweighs the good.

If you have to guess, what will the international market price number be at the top of this particular cycle?

“I see. $10 trillion is my number. $10 trillion was in gold. That means we basically got 3x Bitcoin to get there. $150,000 is my Bitcoin target. I'm not sure what that means for the global market value, but over 7 trillion in this cycle.” I'm somewhere in the $10 trillion range.

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Greg Oxford

Greg Oakford is Head of Development and Partnerships at Upside DAO, Australia's leading crypto and web3 collaboration hub and investment fund. He is an avid NFT collector and founder of NFT Fest Australia. Prior to crypto, Greg was a marketing and sponsorship specialist in the sports industry working on professional events.

Follow the author @GregOakford