The United States
Gmoney is a renowned NFT cultural thought leader, educator, and community authority, known for sporting his iconic orange beanie CryptoPunk. An investor with 15+ years of experience primarily in the traditional finance sector. A futurist who used his time during the pandemic as a catalyst to understand blockchain technologies, capitalizing on them, which elevated him as a thought leader in the space. Gmoney is one of the largest collectors of NFT’s in the world and has one of the most prized collections. He sold Visa and Galaxy Digital the CryptoPunks they purchased for their collections and was listed in the inaugural list of Fortune’s NFTy 50 of the 50 most influential people in NFT’s.
Gmoney is a Puerto Rico-based, karaoke-loving investor. He is also known and famous as the person who paid 140 Ether (about $170,000) in January for a CryptoPunk avatar, the influential NFT booster, who goes only by the online alias “Gmoney,” called the move a “flex.” Gmoney is also a general partner of Delphi INFINFT, a fund built with crypto research and investment firm Delphi Digital that is dedicated to investing in NFT projects.
The question which bothers people who know how much Gmoney paid for the avatar is “ Why?”, and now we will try to explain. First of all, NFTs are digital assets. They can be jpegs of pixelated characters like CryptoPunks, but they can also include anything online, such as art, collectibles, and even memes. Each NFT is represented by code on a public online ledger called a blockchain, which tracks each time an NFT is bought and sold.
First and foremost, NFT investors see long-term value in the assets and the tech. As with any investment, they hope their NFTs will appreciate over time.
But beyond that, owning NFTs offers a form of social currency. There is value in the social status and acceptance from the crypto community that comes with owning a respected NFT, just like a Rolex or a Lamborghini in real life, Gmoney tells CNBC Make It. It’s a “flex utility.”
“When someone buys a Rolex in the real world, they don’t spend thousands of dollars because of the watch’s utility value. A simple $5 watch could perform the same utility. It is to ‘flex’ their status,” Gmoney says. “With an NFT, by posting it as my avatar on Twitter and Discord, I can quickly ‘flex’ with a picture.” “It has the same effect as wearing that Rolex in real life, but digitally,” Gmoney adds.
Gmoney is showing quite a high level of activeness on some social media platforms which happen to be Instagram, Twitter, YouTube and TikTok. Gmoney joined YouTube and created his channel back on July 7, 2021. On his channel, people can find literally everything connected with NFT. As of March 2022, he has more than 2 thousand subscribers. On Instagram, the audience of Gmoney exceeds 42 thousand followers. As for Twitter, he joined this platform in 2020 and currently has over 238 thousand followers. The last platform on which Gmoney has a presence is TikTok and here he has about 2 thousand followers.