Gmoney on CryptoPunks: From Skeptic to Believer

For years, the NFT community had known Gmoney only as an enigmatic figure, a beacon in the rapidly evolving space. Concealed behind his alias and the iconic orange beanie CryptoPunk image, he had stood as a fervent advocate for NFT technology and its push toward mainstream recognition. Through his insights and counsel, he not only cemented his position as a trusted voice in the NFT arena but also garnered respect as both a futurist and creative entrepreneur.

In a defining moment in November 2022, the community was abuzz as Gmoney shed his cloak of anonymity, revealing his true identity to the world and adding a new chapter to his storied journey into web3. Initially skeptical of CryptoPunk’s aesthetic, he evolved into one of its most ardent believers in its enduring value.

Transitioning from the finance sector to the intricate world of web3, Gmoney has since pioneered endeavors such as Admit One and 9dcc, establishing himself as a foundational figure in the crypto-native luxury and lifestyle domain.

In the fourth episode of “Punks As Told By CryptoPunks,” brought to you by nft now and CryptoPunks, Gmoney delves into his transformation from skeptic to believer. Tracing his transition from the finance world to web3, Gmoney provides a unique perspective on the lasting influence and cultural significance of CryptoPunks.

nft now: Describe CryptoPunks in one sentence.

Gmoney: Me and my internet friends.

“Me and my internet friends.”

Gmoney

nft now: How did you first hear about CryptoPunks?

Gmoney: To be honest, I don’t really remember how I first heard about crypto punks. I remember how I first heard about NF Ts. My thesis was at the time that I was gonna buy a bunch of NFTs and a bunch of different projects. I had heard about cryptopunks, I remember I had thought that they were really ugly. It’s so funny how I went from oh, these things were so ugly when I first saw them to now like I said, there is a beautiful poem. That’s like a good book and, and I said, and I think at the time, the floor price was around $1500. And I said I don’t want to buy crypto punks. I want to buy the next crypto punks. And so, I proceeded to start buying a bunch of different projects in the space. I ended up buying a bunch of Chromey squiggles, and then I ended up in the Squiggles discord, and Snowfro was at that point he goes, Dude, stop wasting your money buying from you squiggles. You need to at least buy a zombie. And then, over the next few days, I believe it was him. Nate Alex and Justin Trimble, who red-pilled me on CryptoPunks.

nft now: As a Creative Director, what stood out to you about web3 and CryptoPunks in particular?

Gmoney: At that point in time. This is late 2020. The punk discord was awesome, like probably some of the biggest names in the space. We were hanging out there on a daily basis back then. And you know, that was obviously before the bull run in 2021. So, the space was still really small. I never felt like anybody was trying to dump on me. Like, I felt like they genuinely wanted to add more community members to the community and increase the community and wasn’t like predatory like, hey, like, buy the zombie at like 100k when it’s really worth 20, Right? It was just like, I thought people were just really fair, just generally wanted to help people learn.

nft now: Tell us a bit more about your background before web3.

Gmoney: I have a background in finance, with a focus on tech and consumer discretionary. So, I used to trade long-short US equities. I think I always had a really good eye for catching trends, especially consumer-focused trends, pretty early. Because I think, even with NFTs, I wasn’t in the space in 2017. But I think when I started to understand it, I said, wow, this is going to be something that’s big because I could see a use case for it. I have a really good portfolio. I think of Punks and Squiggles. And my thesis on those. I think that very much the same thesis I had when I started was that some of the stuff that was made in late 2020 was going to be museum-worthy and would end up in a museum.

“I think that very much the same thesis I had when I started was that some of the stuff that was made in late 2020 was going to be museum-worthy and would end up in a museum.”

Gmoney

nft now: What do you think makes CryptoPunks so special?

Gmoney: And so the key was to find some of them, and then hold on for dear life, right,? The way I feel about Chromey Squiggles and CryptoPunks, in particular, is that these are probably the best assets you can own in the space that I feel comfortable owning and that, hopefully, knock on wood. I never need to sell right, and I think what gets me interested about the next two years is as financing starts to come into the system. I’m like a grand scale in the sense that being able to post a crypto punk as collateral and get low-interest loans on them, then suddenly, you don’t need to necessarily sell them to unlock some of that capital in there. And you can use it the same way people use mortgages on their home right margin on their stock portfolio.

And I think as the space matures, that credit becomes available in the system. I think value begins to accrue to the best projects in this space. I mean, if you look at a CryptoPunk like that, the floor price has held pretty strong compared to pretty much everything else in the space. The volatility is way lower than almost everything else in the space. And I think if you want to talk about a true blue chip, I know that term gets thrown around very loosely, way more than it should. But that is kind of the definition of a blue chip, right? If you look at the traditional stock market, I see punks at the top of that list, which, hopefully, in a perfect world, I never need to sell them, but that’s my nice feeling from the investment side.

“And it was at that moment that I really realized that crypto was going to be bigger than even I initially thought it was like this entire NFT movement. Because I saw the way the community just rallied around it.”

Gmoney

I worked with Justin Rossano. And we put 100 Crypto punks on billboards all throughout Miami, billboards, and bus stops all throughout Miami. And it was at that moment that I really realized that crypto was going to be bigger than even I initially thought it was like this entire NFT movement. Because I saw the way the community just rallied around it. And it was a really grassroots endeavor, right in order to get your punk on a billboard, you had to pay to have your punk feature, and we went around to different members of the community to see if they would be interested. And when it was unveiled, it was just so well received that we ended up doing it the next month in New York for NFT. NYC and then again in London, in June. So it was, I think, something really special. It made me realize how powerful the community is because Matt and John were, you know, they were obviously part of the process, but they were never really an active contributor. So you see the power of community forming.

nft now: What do you think other entrepreneurs and creatives could learn from CryptoPunks? 

Gmoney: I would say probably just do something you’re passionate about because they think Matt and John were probably amazing; I can’t imagine that when they made this collection, they thought it was going to turn into, one the inspiration that it was for an entire generation of this space, and then be as lucrative as it was going to be. So you just never know what will come from just doing something you’re passionate about.

“You just never know what will come from just doing something you’re passionate about.”

Gmoney

Watch the full fourth episode here. Check back each week for new episodes exploring the project’s evolution and interviewing notable figures across the CryptoPunks community.

Editor’s note: This interview transcript has been edited for concision and clarity.