Sam Parr hosts a conversation about picking creator coins on BitClout. One investor buys coins from active NFT artists with real royalty cash flow, citing early wins like Spookies and Cloudpunk. Another uses on-chain metrics and front-runs purchases by wealthy users like Dharmesh and Whale Shark.
Yeah, I'm going to— it's like I'm asking you stock tips. I'm on BitClout. I'm on the site now. What? And I could see this. I mean, I could just go and find it. But what creators do you own and what— which one are you going to be making any purchases anytime soon?
What do you like? Yeah, definitely. I own active creators. So if a creator is active and like posting and like doing fun stuff or interesting stuff, I buy them. But really the thing that I, like the hedge fund side of me really likes is NFT artists. Because for NFT artists, even today, not theoretical, all of them set royalties that go to their coins. And so there's real cash flows there that are often like totally disparate, like their coins are not like correctly priced for like how much money is gonna actually flow to their coins. And so I've been, yeah, I bought like Spookies and Cloudpunk, you know, early. Illuminatum is like another one. And those, like, just the cash flows are like above what it was when I, like, you know, those have made up for what it was when I invested in it. So that's kind of like, I think that's a strategy that like just traditional, like I do, like I get it. And then as we create more cash flows going to the coins, there'll be even more. But aside from that, because I know that, you know, creators who get big are gonna have ways that cash flows go to the coins. The smaller creators who I think are active and are like going to do cool shit.
Anyone in particular who you enjoy?
That's like the other one. Oh, there are a bunch. Well, so Dharmesh has been crushing it. He's not a smaller creator, but he's just been super active.
He's the 4th creator of all time right now.
Yeah, yeah, yeah. He's very big on the platform. I'm trying to see, like, there's like Matreshka, who's a woman who's very active there and does a lot of stuff. Tijen is this developer who does a lot of awesome stuff. Yeah, it's a DTA.
You want to know my strategy that, that worked on Bitcloud? At least early on, this worked pretty well. I was thinking about, I was like, okay, who do I buy? Do I buy the famous people that are not on yet? There's people building scrapers to try to figure out someone's thinking about it or they tweeted it out and it hasn't gotten verified yet. So go front run that. I figured out there's a very simple way to win. And I said, right now with any early project, I've built a bunch of social networks and I know anytime you build a social network, at first, 70% of the conversation on that social network is about the social network. This happened with the stuff I built. It happens if you go to Clubhouse. 80% of the rooms are just— end up— they will end up talking about how great Clubhouse is or what it's going to be or what's bad about it. They're just always talking about the platform itself. So I knew, okay, if people are going to be interested in the platform itself, I invested in all of the analysts who could, who could go through the on-chain data and report how— what prices were working, you know, how many, how many new users there were and all that good stuff. And so I bought all the analysts dirt cheap and they went up like crazy cuz again, they were talking about the platform in a way that was differentiated cuz the normal person didn't know how to go analyze the blockchain. And then the other one was basically rich active people. So I saw, I saw Dharmesh was just gonna buy his own coin and Whale Shark was just gonna buy his own coin. Craig Clemens was gonna buy his own coin. And so it's like a company that does a share buyback. It's like, oh, okay, this person has the, they have enough funds where they could like dramatically move their own coin price. So all I gotta do is just buy them and wait for them to do their buybacks. And sure enough, they did. And Dharmesh even said it publicly. He's like, I'm gonna buy for every follower I get, I'm gonna buy back my every, every coin holder I get, I'm gonna buy back 10x of my own coin or something crazy like that. And I was like, well, that's a Ponzi scheme that I love. That's perfect. Great. Uh, like I'll just hitch onto that ride. This guy's guaranteeing, and I know he's a man of his word, he's gonna buy He's going to buy back his own stuff and I could just front run that. So that worked amazingly at the beginning. I don't know if that would still work now.
I think the strategy of forecasting what content is going to be popular and then investing in the people who are producing it, I mean, that's like, that's like the name of the game, I think. Um, so I think that's pretty awesome.
Uh, like there was a guy who would do, uh, fake designs, like mockups, like, oh, this is what the client could look like. Oh, if they added NFTs, this is how it could look. It's just like kind of like design porn. Yeah, design porn. I was like, oh, that's going to work. People are— again, it's talking about the platform and in a differentiated way because this guy's a designer and he's going to just design mockups all the time. This is going to go viral. Great.
Yeah. By this point, genius, honestly. Yeah. And it'll be interesting to see how it works at scale, especially because Diamond App is like so mainstream and I think can actually get like some bigger people to like join and start using it. Yeah, I honestly, I wonder how it's going to play out. By the way, another fun thing we didn't talk about is there's actually an algorithmic feed that's like open source now built into the blockchain. So that would probably play into your strategy where you can look at how the feed works and then try and figure out what, what's going to get to the top. It's pretty hard to game, I think. But, but that's, that's another like interesting—
have you talked to Dharmesh?
