NFT Szn on Solana?

The thesis mentioned on Solana is playing out well.

Once the natives make money, they tend to spend it on Projects/Memes/NFTs specific to that ecosystem.

GUAC is up 4x since. looking good for more.

WEN looks primed for a major breakout.

BONK is up 2x in 3 days and likely headed for a Coinbase/Binance/Robinhood listing.

Once that happens, everyone's attention will be on Solana (it's there already but it would further cement it)

They will look at more plays where BONK came from.

Soon we could see NFTs going crazy too.

Many seem to have strong opinions of how worthless or how cringe-looking NFTs "art" is.

Heres my simple mental model.

NFTs are meme coins with pictures.

Apply whatever framework you have for memes, to NFTs and ignore (give less importance to) the art part.

The trend is in the early stages so be sensible with sizing.

Some of the best winners might not even be born yet.

Also, they are not as liquid as coins. So factor that too.

All it would take is one celebrity (which I think is very likely soon) to adopt a Mad Lad and the entire space would experience an explosive upside.

I do believe the next NFT bull run will dwarf the previous one.

Here's some NFT math as a mental model.

Not saying it will happen, this is just to give you some food for thought on why NFTs are so attractive to natives of the ecosystem.

Say you believe SOL is 5x-1ox from here and your NFTs would be multiples in SOL say 5-10x. That would make it 25-100x in USD terms by the end of the cycle.

That's what happened to ETH NFTs in the last run.

Coming to positions update.

NOTE: You will find All of them on Tensor.

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