My First Autoglyph
A mix of intuition, heeding the markets and FOMO
Bought my first Autoglyph.
After being completely drawn into the idea of the first true piece of art on-chain, I was decided I would eventually buy one.
But “eventually” is not something you can decide in such a tight, illiquid market.
The few cheap Glyphs available started to be purchased, and I decided to pull the trigger. More people were thinking like me.
In a matter of minutes, all the Autoglyphs below 30ETH were sold.
Currently, there’s nothing on the market for less than 40.
My guess is that, like me, other people were hovering around the market, thinking about when to buy one. Once it reached a critical point, we all had to pull the trigger. Maybe this critical point has a name: the Chamath Effect. People realized mainstream billionaires decided crypto art was not insane, quite the contrary.
I chose mine based on rarity (a #4, on a scale from #1 to #10), and not on taste, like my CryptoPunk.
But I’m enjoying looking up close and discovering details that went unnoticed initially.
It’s an even stranger feeling than buying a Punk.
As I mentioned, I think it’s a good bet that a portfolio of tier-1 NFTs will outperform ETH, and ETH will outperform BTC.
NFTX will allow for floor liquidity on both CryptoPunks and Autoglyphs, and this will allow anyone to build a portfolio of these. But in the meantime, FOMO was inevitable