Episode 34 Investing in NFTs

Episode 34: Investing in NFTs

Episode 34

Investing in NFTs

Andrew Steinwold is the managing partner at Sfermion. We cover the challenges of starting up a Web3 fund, how NFTs make the metaverse possible, and what drives value in various NFT categories.

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[00:02:14] - [First question] - How he and his wife Josie Bellini got into the crypto space 

[00:05:40] - Why crypto OGs have a disdain for NFTs and feel this evolution is just a fad 

[00:07:55] - A snapshot of the NFT market today and the metrics he tends to look at 

[00:11:18] - Whether or not he’s surprised that the blue chip assets have held up

[00:13:56] - The early formation of Sfermion and what lead him to start it 

[00:18:33] - Thoughts on holding NFTs and building an investable fund around them

[00:23:13] - Plans for their second fund and what it will be comprised of 

[00:24:41] - His investment process and philosophy on exposure and valuation 

[00:28:15] - Top level view on capital allocation when investing and building funds 

[00:31:07] - SecondLife interview; in-game economies

[00:32:54] - Value is unlocked in more assets than just ones with utility 

[00:35:37] - How they pitched fundraising a venture fund compared to one that invested in NFTs

[00:39:10] - USD performance fees and capital deployment in their venture fund  

[00:43:37] - The different areas of the competitive landscape in NFTs 

[00:46:43] - Whether or not courts have reached out to them given their assets

[00:48:59] - Real world use-cases and experiments that could prove useful in the future 

[00:53:28] - Axie Infinity; thoughts on the Axie Infinity experiment and play-to-earn product market fit

[00:57:51] - What he’s most excited to see built over the next six months and six years 

Investing in NFTs

Introduction

Eric
This is Eric Golden, and my guest today is Andrew Steinwold. Andrew is the managing partner at Sfermion, an NFT-focused investment firm, where he makes venture-style bets, and invests directly in NFTs. He is a pioneer in the space, launching one of the first ever NFT funds available for outside investors. We discuss the challenges of starting up a Web3 fund, how NFT has made the metaverse possible, and what drives value in various NFT categories. Please enjoy this conversation with Andrew Steinwold.

Discovering NFTs

Eric
Today I'm excited to have Andrew Steinwold, managing partner of Sfermion, host of Zima Red, and maybe most importantly, the husband of Josie Bellini. I thought that would actually be a fun place to start. With Josie. For those of you who don't know her, she's an incredible digital artist. Andrew, thank you for joining me today, but let's start with your most impressive title, husband of Josie, and how you two got into crypto NFTs in this crazy world.

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