Diamond Hands Podcast #12: Ethereum On The Rise, Plus How To Buy NFTs
In this iteration of the Diamond Hands podcast, ep. #11, Shadd Dales and Anthony Varrell weighed in on the latest growth in crypto. Facebook rebrand is also up in our discussion, of course!
This isn’t the first time the Diamond Hands podcast has weighed in on Ethereum, and last week, it rose to all-time highs of $4,400 USD. The price of Ethereum went up, while the price of Bitcoin went down.
“The thing that I’ve always found attractive about Ethereum, it’s a scalable technology,” said Varrell. “The people that are driving the technological forces of today, they understand it, they see the potential, and it’s in the conversation. These guys [Elon Musk, Mark Cuban] don’t want to talk about Bitcoin.”
Varrell said he wouldn’t be surprised it the value of Ethereum reached $5,000 USD in the coming week.
What is Ethereum?
Varrell said the unique selling point behind Ethereum is simple: “It’s what the Web3, NFT, Metaverse, blockchain, it’s what everything is being built on top of. You are essentially investing in the operating system of the next internet.”
He said it’s something he’d continue to invest in given the attention it’s receiving from people who are taking crypto seriously.
NFT.NYC Event Coming Next Week
Next week, Varrell will be attending the NFT.NYC 2021 conference. He said he views conferences like the one he’ll be heading to as a source of information and an opportunity to meet the people he connects with regularly on Twitter.
Making A Blue Chip Play
Varrell also detailed why he’s jumped on NFTs, specifically, Bored Apes Yacht Club.
“I prefer to start with a blue chip play versus get highly speculative; learn the lay of the land and then create a strategy from there,” he said.
He boiled NFT’s, especially the one’s creating community, down to being a form of an access pass to those communities in both real-life and digital settings. At the event, there will be specific invite-only events for the Bored Apes Yacht Club, where “you’re passed into the event on you’re NFT.”
At 5:33, Varrell explained how to determine what makes a blue chip NFT like Bored Apes Yacht Club.
Why Leverage NFTs?
Based on the growing industries Varrell and Dales cover regularly, Varrell said Ethereum likely has “the biggest addressable market” considering how it’s tied to Web3, NFTs, Metaverse, and blockchain.
“If I’m a rapper, if I’m a sports team, if I’m a brand, if I want to have another extension of my product and put my brand front and centre and start to create and curate a community and another extension of it, I’m going to leverage NFTs,” he said.
“If I’m Interscope Records, and I want to engage with my consumers in the Metaverse, that’s not here today but it is coming, I’m going to create an NFT collection or an experiential experience inside the Metaverse, and the best way to do that is via the NFT.”
How to Buy An NFT
Step one in buying an NFT of your own, according to Varrell, is having an Ethereum wallet.
Head to 8:30 to find out exactly what Varrell advises if you’re interested in buying NFTs.
Check out the full conversation in this week’s Diamond Hands podcast in the video above.
To view Diamond Hands Podcast Episode #11 – Part 1, click here