Crypto Whale Reveals Why He Spent $500,000 on NFTs

Today I had the pleasure of speaking with Reade Seiff, a crypto whale who recently aped into Crypto Punks, Bored Apes, Lions, Cats, Pudgy Penguins and more.Show more

We discuss the use case of NFTs as social tokens and getting exclusive access to a private club, the immediate benefits he's received from the community, and his latest undertaking, Invaders NFT.

Follow Reade on Twitter at: https://twitter.com/sunsetreade

Timestamps:
0:30 - Reade's Crypto Journey
7:00 - Social Benefits from Owning NFTs (Crypto Punks, Bored Apes, etc.)
11:30 - Reade's Thoughts on the Benefits of Crypto Punks / Relationship to Bitcoin, Ethereum
12:49 - Other NFTs that Reade is interested in.
13:00 - Social Clubs and NFTs and how to get value from them
14:00 - Notable Crypto Punk Community Members
14:45 - Alec's Thoughts on Flexing NFTs, their value and future predictions
19:10 - Coinbase introducing NFTs and the where the market is headed
20:45 - Meet ups for Crypto Punk Holders
22:10 - How to make your NFT more valuable
23:25 - Crypto NFT Verification and what it means
24:00 - Earning interest and royalties on NFTs
25:00 NFTs as a side income opportunity and source of income
25:30 - Social Proof of blue chip NFTs
27:00 - How NFT communities are similar to real life
28:30 - Key takeaway for Alec in the NFT space and how he's navigating it
31:25 - Making NFTs work for you and Reade's approach
32:15 - NFTs as a membership opportunity (and why they are superior)
33:30 - Maintaining relationships in the crypto and NFT space
34:50 - Flaws with the NFT space and early adoption
36:00 - Experiment with Invaders NFT
38:45 - Marketing plans for Invaders NFT
44:30 - Closing thoughts

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DISCLAIMER: Everything Alec Torelli says on the CrypTorelli YouTube, his trades, strategies, and news coverage are based on his opinions alone and are only for entertainment purposes. You should not take any of this information as guidance for buying or selling any type of investment or security. I am not a financial advisor and anything that I say on this YouTube channel should not be seen as financial advice. I am only sharing my biased opinion based off of speculation and personal experience. An individual trader's results may not be typical and may vary from person to person. It is important to keep in mind that there are risks associated with investing in the cryptocurrencies and public and private markets, and that one can lose all of their investment. Thus, trades should not be based on the opinions of others but by your own research and due diligence. You and you alone are responsible for all of the financial risks you take.