Andrew Steinwold is a respected voice in the NFT space and is managing partner of Sfermion, an NFT-native investment firm. We unpack the recent NFT boom and digest the innovation, successes, failures, and lessons in the space as we reflect and move forward. ------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS: http://bankless.cc/consensus2021  ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ GO BANKLESS WITH THESE SPONSOR TOOLS: ⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave  🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini  💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith  📈 KWENTA - DERIVATIVES TRADING WITH INFINITE LIQUIDITY https://bankless.cc/kwenta  ------ SotN #38: The State of NFTs, with Andrew Steinwold (Past, Current, and Future) When Andrew was last on Bankless for 'The Bull Case for NFTs' in September 2020, the Nation was introduced to NFTs as an ocean of opportunity for democratizing value. The landscape for NFTs has changed drastically in the last 6 months, but Andrew's approach has remained generally similar. Andrew updates us on his expectations on the future of NFTs in the context of the current boom. He addresses the notion of the 'NFT Bubble' and the blurred distinction between memes and value. We dive into Proof-of-Work vs. Proof-of-Stake and what makes for a genuine NFT – in terms of both content and distribution. Through the trials of this cycle, we have found many NFT-specific insights and lessons. Andrew explores the successes and failures of experimentation in this space. We highlight Cryptopunks, which boasts an organic release, being the first of its kind, and mass community adoption. ------ RESOURCES: The Bull Case for NFTs https://newsletter.banklesshq.com/p/the-bull-case-for-nfts-jake-burkhman  Andrew on Twitter https://twitter.com/AndrewSteinwold?s=20  Zima Red - Andrew's Podcast https://andrewsteinwold.substack.com/  Sfermion https://www.sfermion.io/   ------ THIS WEEK ON BANKLESS 🗞️ Weekly Rollup (3/12): https://shows.banklesshq.com/p/rollup-march-2  🧢 Weekly Action Recap (3/13): https://newsletter.banklesshq.com/p/weekly-action-recap-683  🛠️ Trading Synthetic Stocks (3/9): https://newsletter.banklesshq.com/p/how-to-trade-synthetic-stocks  🏴 State of the Nation | 3LAU (3/9): https://youtu.be/5KY9W3Ybmdc  ✏️ The Digital Culture Revolution: https://newsletter.banklesshq.com/p/defi-options-strategies-for-traders  ⚫ The Case for $100 SUSHI: https://newsletter.banklesshq.com/p/the-case-for-100-sushi  🐦 Follow Bankless on Twitter: https://twitter.com/BanklessHQ  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 

Download the crypto meta to your brain in this weekly show. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ GO BANKLESS WITH THESE SPONSOR TOOLS: ⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave  🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini  💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith  📈 KWENTA - DERIVATIVES TRADING WITH INFINITE LIQUIDITY https://bankless.cc/kwenta​  ------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS http://bankless.cc/consensus2021​  ------ MARKETS BTC Price: $55k ETH Price: Low-Mid 1800s Mostly TVL in DeFi: $41.2B $DPI: ~$450 MEV Dashboard https://explore.flashbots.net/  DeFi Undervalued? Coinbase vs. DeFi https://twitter.com/StaniKulechov/status/1369314364944244737?s=20  Global Banking $6.2 Trillion, DeFi $85B https://twitter.com/0x_Lucas/status/1369808216490602498?s=20  $3B valuation BlockFi: https://twitter.com/BlockFiZac/status/1370012146503929856?s=20  DAOs With Treasury Reports https://twitter.com/Matthew_Graham_/status/1367521656927838209?s=20  GBTC Trading 15% Below BTC Spot Prices https://www.coindesk.com/grayscale-halts-new-investments-in-gbtc-after-trading-at-15-below-bitcoin  ------ RELEASES Send From Arbitrum to xDAI (Hop Protocol) https://twitter.com/HopProtocol/status/1367914160483299332?s=20  Optimism Dai Bridge with Fast Withdrawals https://forum.makerdao.com/t/announcing-the-optimism-dai-bridge-with-fast-withdrawals/6938  Superfluid https://twitter.com/superfluid_hq/status/1369676939913486337?s=21  FEI Protocol https://www.coindesk.com/coinbase-naval-framework-ventures-19m-raise-fei-stablecoin  ------ NEWS $1.9T Covid Relief Bill and $1400 Stimulus Checks https://www.nbcnews.com/politics/congress/senate-passes-1-9-trillion-covid-relief-bill-including-1-n1259795  Fed Says Reopening Could Cause Inflation https://www.cnbc.com/2021/03/04/fed-chairman-powell-says-economic-reopening-could-cause-inflation-to-pick-up-temporarily.html  EIP1559 Approved for London Hard Fork https://twitter.com/TimBeiko/status/1367858606889037824?s=20  EIP1559 - Front Page of Bloomberg https://i.redd.it/hdgboaz8xml61.jpg  ETH Miners Protesting EIP-1559 https://cointelegraph.com/news/ethereum-miners-plot-hash-power-show-of-force-against-eip-1559  Meitu Buys $22M ETH, $17.9M BTC https://twitter.com/TrustlessState/status/1368639534770966537?s=20  Beeple NFT $69M https://www.telegraph.co.uk/technology/2021/03/11/digital-artwork-snapped-69m-record-sale  NFT Environmentalism https://joanielemercier.com/the-problem-of-cryptoart/  SuperRare Response https://medium.com/superrare/no-cryptoartists-arent-harming-the-planet-43182f72fc61  US Lawmakers Introduce Crypto Bill https://www.coindesk.com/lawmakers-digital-asset-regulation  Wyoming DAO Bill https://twitter.com/awrigh01/status/1369328856260354051?s=20   NBA Top Shot Freezes Funds https://defited.medium.com/my-centralized-experience-dapper-3d3e3a99cbd7  New Grayscale Job Postings - ETF? https://twitter.com/coindesk/status/1369451478428090369?s=21  JPMorgan Crypto Proxy Basket https://www.coindesk.com/jpmorgan-to-launch-cryptocurrency-exposure-basket-of-bitcoin-proxy-stocks  Logan Paul Sponsored Tweet Paid in SFI https://twitter.com/Buhlaque/status/1369149498098860041?s=20  ----- TAKES Everything is Broken https://www.zerohedge.com/markets/mauldin-everything-broken  Reinvesting in Crypto https://twitter.com/ryansadams/status/1368944228382965765?s=21  Steinworld’s Ethspansion from Genesis https://twitter.com/takenstheorem/status/1351409209305305090?s=20  Today Show Laughing About NFTs https://twitter.com/econoar/status/1369344244880527361?s=20  ----- MEME L2 vs ETH Killers https://www.instagram.com/p/CMLVE2YAQQ2/  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures