Sam Gellman, aka NFT Statistics, aka punk9059, is a distinguished determine within the NFT area, identified for his means to create charts and supply invaluable insights into risky markets.
In 2023 Gellman labored for Proof and hosted the “Proof Daily Countdown”, a 10-15min all it is advisable to know present that resonated properly with true believers of NFTs.
With the latest acquisition of Proof and Moonbirds, Gellman has joined the staff at Memeland, reuniting with Ray Chan, somebody he’s identified for the final 12 years.
His journey into NFTs began within the mania of 2021 when a handful of Gellman’s tradfi mates urged him to look into CryptoPunks. After some preliminary resistance, Gellman fall down the rabbit gap and has hardly come up for air since.
“Throughout Covid, they began actually aggressively recommending CryptoPunks. I assumed the primary three or 4 of them had been idiots after which when the fifth particular person mentioned it, I began to get FOMO,” says Gellman.
“That was type of after I began to become involved within the sport and ended up making an attempt to analysis CryptoPunks and located that there simply wasn’t numerous knowledge on the market on it. I began constructing out my very own knowledge units round CryptoPunks and that was principally the genesis of this account.”
Previous to changing into “NFT Statistics”, Gellman labored for Goldman Sachs for eight years and Uber for seven — he was one of many first 50 staff and chargeable for its early enlargement into markets exterior of the US and Canada, significantly in Asia.
“I launched London, launched Amsterdam, launched China, launched Singapore. I ended up operating the staff that launched Asian markets as a result of I’d been residing in Hong Kong after which I managed North Asia for some time which is like Hong Kong, Taiwan, Macau, all of the nations up there.”
Essentially the most risky faith on the planet
Previous to discovering NFTs, Gellman had truly labored for a crypto firm for a number of months however stop as a result of he couldn’t purchase into the crypto philosophy. He says the anti-establishment ethos of many components of crypto tradition by no means actually resonated with him.
“I wasn’t that anti-establishment. I type of loved each the businesses [Goldman Sachs and Uber] so there was just a little little bit of disconnect with the business I felt for some time.”
Gellman doesn’t essentially assume ‘we’re early’ and believes crypto is just a little bit like a faith.
“We’re truly not early in any respect. Bitcoin is 15 years outdated, to some 15 years is early, blockchain is older than Airbnb, it’s older than Uber, it’s not a brand new know-how anymore. It’s had billions and billions of {dollars} thrown in it so I don’t assume we’re early essentially, however I believe that it’s been round lengthy sufficient that you must respect it,” says Gellman.
“Generally I say that crypto is probably the most risky faith on the planet. It’s people who find themselves within the faith aren’t simply in it however they’re missionaries. They’re on the market telling everybody about it and that is altering the whole lot after which there are individuals who assume that the folks on this area are utterly loopy and stuffed with shit. I sit between these two and I believe that type of provides me credibility with each.”
NFTs are like nightclubs and the fickle nature of the eye economic system
The shifting nature of what’s sizzling and what’s not in NFTs is one thing Gellman has paid significantly shut consideration to. Whether or not it’s BAYC, Doodles, CloneX, Moonbirds, DeGods, Cool Cats or an entire raft of different initiatives which have been up and down, Gellman has a principle about fashionability within the area.
“One of many issues I say is that NFTs are like nightclubs. It’s very exhausting to remain cool for a very long time and there can be a time the place there are like three nightclubs and this was very a lot the case in Hong Kong. In 2008, there have been three nightclubs the place the road could be across the block and you must know somebody who knew somebody to get in after which three years later, nobody ever goes to them they usually shut down.”
The fickle nature of the eye economic system is one thing the Colorado based mostly American believes anybody in NFTs and crypto must be very conscious of, together with the present meme coin meta.
“I believe folks love to speak about all the explanations that one thing pumped and all the explanations that it’s higher, when at its core, it’s simply the item of FOMO proper now. FOMO is a really transitory attribute that may go in direction of something. It may well go in direction of numerous various kinds of objects.”
“Generally it goes in direction of cash, typically it goes in direction of JPEGs, typically it goes in direction of level techniques. It goes all over and I believe the huge, overwhelming majority of those meme cash are going to be price zero in three months and we’ll discover new stuff to wager on.”
“I’m very hesitant to say as a result of meme cash have been sizzling on SOL the whole lot else is lifeless going ahead. I believe that simply tells us the place the eye has been over the previous few months and doesn’t inform us an entire lot in regards to the future.”
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New position with Memeland
At Memeland Gellman has been introduced on as Chief Chart Officer however can be throughout a variety of key areas and is reunited along with his buddy and CEO, Ray Chan. The pair used to hang around at Asian tech conferences within the early 2010s.
A part of the remit will even be rising the worldwide enchantment of Memeland which at the moment has a powerful foothold in Asian markets however much less so within the US.
“It’s an organization the place just about each single worker relies in Asia or from Asia. There’s somebody in Dubai, somebody’s in Canada, however they’re all actually type of native Hong Kong and Asian native. They wished somebody based mostly within the US who makes the corporate have a bit extra of a worldwide enchantment in order that was one thing that I believe will not be exhausting for me to do,” Gellman says.
“I believe the large factor for them is that they have an enormous treasury, they’ve a coin that’s performed very properly. Additionally they have a particularly large viewers, they’ve a Web2 distribution platform, a Web3 distribution platform. I believe they type of wished a little bit of a COO kind particular person to come back in and create just a little bit extra group on all of the unimaginable issues they’re doing and all of the property that they’ve.”
May we see a relaunch of an analogous model Day by day NFT Countdown present in his new position? Sam’s not ruling it out and is grateful the outdated Proof present did what he had hoped for when it began.
“Generally I felt like that present did extra for me than it did for Proof. I assumed it was good however most likely may have leveraged it extra and I assumed it was a very good media channel. When you have got somebody paying your wage and stuff like that, I wish to make it possible for if I do it, it is vitally useful to Memeland,” Sam says.
“I’m glad that it type of did what I wished it to as a result of I wished folks to have a strategy to study what occurred on this area without having to listen to, two completely different folks make jokes with one another about their inside jokes, which is what occurs while you get onto X Areas.”
“I simply need 10-Quarter-hour the place you hearken to it, whether or not within the subway or on the best way to work or no matter. Then you already know what occurred over the previous day in NFTs. That was the aim and I believe it did obtain that.”
Favourite Founders
Gellman has respect for founders with real authenticity, are dialed into the sport and possess a excessive stage of creativity, paying specific tribute to Ray from Memeland, Frank DeGods, Gordon Goner and Matt and John from Larva Labs.
“Clearly Ray as that’s one purpose I’ve moved there however I believe he simply understands NFT communication very properly. He understands the sport,” Gellman says.
“I personally actually like Frank, he’s a divisive particular person. I don’t get why,” he says, noting that when DeGods was doing poorly Frank wished to provide folks their a reimbursement.
“He had little interest in taking folks’s cash. You’ve got folks within the area who’re type of in it for the cash and I simply assume he wasn’t actually that particular person. I believe he was somebody who was deeply uncomfortable with the thought of the challenge not doing properly and he didn’t need that on his shoulders. In the event you simply hearken to the issues he says although, I believe he actually understands the core of what his group needs.”
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Bored Ape Yacht Membership sentiment and ground worth has dipped not too long ago, however Gellman is fast to level out how revolutionary BAYC was, significantly founder Gordon Goner.
“I actually like Gordon Gonor. He’s simply extraordinarily inventive and one of many unhappy issues to me proper now’s how a lot apes are getting dunked on. At some stage, it was like when the ape group was doing all of the dunking two years in the past they usually had been dunking on CryptoPunks, and different initiatives.”
“I’ve owned a bunch of apes, however I’ve by no means been deep within the ape group, however they had been so inventive. Mutants had been so revolutionary, Kennel Membership was so revolutionary, a lot of the highway map stuff must be attributed to apes. Considered one of my favourite Gordon Gonor traces was ‘In case your worth goes down, cease occupied with the way to make it go up and go to the forest and do some mushrooms, and give you cool concepts.’”
“That impressed numerous what they did with Bored Ape Yacht Membership. I had a few Mutants. I assumed, oh, he was doing mushrooms and he got here up with this concept of goop popping out with the identical traits. On the time that was tremendous cool.”
“And I can’t overlook Matt and John at Larva Labs, I’ve a ton of respect for these guys and what they’ve performed.”
Speedy hearth Q&A
Favourite NFTs in your pockets?
“Midnight Breeze #5015 by Dutchtide Studios — I personal three of these and I’ll by no means promote this one specifically.
The Harvest #388 by Per Kristian Stoveland — I really like the Harvest. I really like coloration and I dwell within the mountains so it has a really majestic view.”
Favourite generative artwork assortment?
“I assume I’ve a little bit of loyalty to Chromie Squiggles. I personal one in every of them and I believe they’re type of the primary commercialized lengthy type generative artwork challenge on the market. The Chromie Squiggle I’ve I really like, I’ve no intention to promote.
I really like Fidenzas. It’s exhausting to not love Fidenzas however I virtually like them extra as a group than I wish to personal one in every of them. I really like Fidenzas in the best way that there are such a lot of they usually’re so various but nonetheless very clearly a part of the identical assortment. I believe they’re extraordinarily cool.”
How are you viewing ordinals in the meanwhile? And have you ever been lively in shopping for ordinals?
“I haven’t been, however that’s as a result of my technique personally, as you already know, one of many issues that Spencer as soon as tweeted is that you must utterly change your mindset while you go from a bear market to a bull market. And I believe my mindset is simply caught within the bear market. I misplaced an excessive amount of cash on NFTs as you may see from the wall behind me.
“Nevertheless it feels so much like ETH did two years in the past the place there’s this sense that there are a number of manufacturers which have been topped type of just like the bearers of the torch. As a result of they’re early the provenance will go to the early ones. I believe they’re nonetheless duking it out about which of them these can be.
“I believe with NodeMonkes, Quantum Cats and Bitcoin Puppets it’s clear proper now that the group has fashioned consensus round these collections they usually appear to be doing very properly.”
Who’re your prime 3 favourite follows on Twitter for NFTs?
TylerDidIt, Cirrus the GOAT and BCheque.
Recommendation on the way to survive NFTs and crypto for the long term?
“I believe that while you purchase, it is advisable to know while you’re going to promote. I believe there are three choices for that.
1 — One is you’re by no means going to promote. You assume it’s one thing that has long run collectibility.
2 — Two is you have got a worth level or an consequence that you’re searching for and if that occurs, you’ll promote.
3 — Three is you’re keen to see it go to zero.
Each time you purchase one thing it wants to suit into a kind of three buckets. If it doesn’t, what’s going to occur is it’s going to go up just a little bit. You’re like, fuck, it’s going to go up extra after which over time the whole lot finally ends up going to zero and also you lose all of your cash. I believe that the eye economic system is so fickle and it’s so simple to make an NFT and to make a challenge that the result’s there’s a lot provide of it.
You’ve got this shifting demand and ever rising provide so internet internet, it’s not an incredible asset class. I’d say if you concentrate on long run funding stuff, you must have one thing that has an excellent story, a identified exit level or one thing that you just’re actually shopping for for one thing apart from funding. You possibly can name it consumption. You’re excited to be a part of the group and also you’re keen to pay cash for that consumption, and the worth may go down.
I believe the place folks get screwed is the place they type of simply float and maintain issues, they usually have all these zombie positions.”
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Greg Oakford
Greg Oakford is the Head of Development & Partnerships for Upside DAO, a number one Australian crypto & web3 co-working hub and funding fund. He’s an avid NFT collector and the co-founder of NFT Fest Australia. Previous to crypto, Greg was a advertising and sponsorship specialist within the sports activities business engaged on skilled occasions.
