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Comment by malikNF | Hacker News Reader

Yuga labs came up with several NFT projects that were well received and they have brand recognition all over the world, and these folks managed to create an exclusive club a lot of people want to be part of.

There's many people including celebrities who are willing to pay huge sums of money to be part of that exclusive club. So the value of yuga lab's is not only in them coming up with some web3 game, it definitely isn't going to be their "endgame" as the author claims. Their brand they have so much more opportunities to add value to their eco-system.

[edit] To the ones who are down-voting this post, maybe explain why you are down-voting this, so I can understand what exactly I said that's wrong here.

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Is there any sense about which celebrities are actually buying NFTs? For example, I know Seth Green is big into NFTs, but a lot of the others (Gwyneth Paltrow, Jimmy Fallon, etc.) are likely to have gotten NFTs for free as part of a promotional campaign for Moonpay and BAYC[1].

[1] https://www.youtube.com/watch?v=luAXOfcg-dY

I'm actually surprised people still look at celebrities as some type of moral authority.

For example, I like Adam Sandler, if Adam Sandler started selling his own Adam Sandler coin, I still wouldn't buy it.

>> I'm actually surprised people still look at celebrities as some type of moral authority.

Agreed. But in the context of a brand-name I guess celebrity endorsements helps increase the number of people who know about your project.

As for the Adam Sandler coin HA!, but I bet there will be many who will buy this on the promise of getting rich quick by loading off on the greater fool sort of way.

Ironic then that Reese Witherspoon and other celebs who were pumping NFTs hard on Twitter, quietly change their profile pics when the NFT market collapsed.

Right, that's really logical with something like Vitamin Water.

At worst your out 3$.

I don't get an actor convincing a rational person to blow 3k on a fictional abstraction.

> There's many people including celebrities who are willing to pay huge sums of money to be part of that exclusive club.

Fatal error.

Celebrities don't purchase this "exclusivity" garbage. Why would they need that when they're already famous? If anything, they will get it for free and get paid to promote it, by the people that actually make it.

The kind of exclusive club you're envisioning is closer to Fyre Fest than the Viper Room, or some other exclusive celebrity owned club/restaurant.

All this is well and good for short term pump and dumps. But it is not going to work as a sustainable business.

What are you going to do, mint an endless supply of "exclusive" NFTs every month? The problem is fundamental, you will run out of greater fools one day.

It is better that you start your own BAYC clone. You'd be at the top of the pyramid and it barely costs anything

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