Billionaire Adam Weitzman buys 117 Pudgy Penguins

    by Gigliola: Adam Weitsman

    Billionaire Adam Weitsman (AdamWeitsman) just bought 117 Pudgy Penguins (pudgypenguins). He’s one of the biggest NFT bulls around, and he’s buying from holders who’ve been beaten down for so long they’ve stopped thinking straight. Pokémon collectors can’t imagine prices falling, and NFT holders can’t imagine them rising. Both sides are running on pure emotion.

    Transcript (en)

    Billionaire Adam Weitzman brought 117 pudgy penguins. He's probably the biggest NFT bull on the planet. He buys so many NFTs. I think he even tweeted fairly recently that he has X amount of NFTs. I think he's in the thousands. And he's never sold one. If anything, guys, what I would say is that this shows the incentives of how these things work. Like, if he owns it, then yeah, like, and he's got money. Like, probably can just buy the floor. Like, he can do that. Which he did. Yeah, yeah, 100%. And it's also crazy to think about how, like what that investment could turn into. I think that the NFT market in general, because they've been beat up for so long, they're so emotional. And so I don't think a lot of them are acting very logically right now. And I think that in pretty short order, they'll be kicking themselves because they've just been abused for so long from the price here. The opposite ends of the spectrum is what we're experiencing between like Pokemon cards and NFT people. like they're literally polar opposites right now. But on both fronts, emotion takes over. Like it's like you have no logic left. If you're still into NFTs, you should definitely follow us because we talk about JPEGs more than we probably should.