Batsoupyum, it is so great to have a conversation with you here today to share with the ALLSHIPS community. I've been a long time follower of your thoughts here in the NFT space, and your insights have helped me and many others get a better grasp on this fast moving cultural shift. I'm wondering what your own first exposure to this technology happened, and if there was a moment that things "clicked" so to speak, as they have for so many recently.

Thanks for having me Dave, I'm a big fan of yours and the ALLSHIPS mission/community. You're doing great work.

Things really clicked for me literally the day after the Beeple 'Everydays' sale. I remember I used to roll my eyes when people would talk about buying digital media, but $69m got my attention! That's where my journey started, and that day I bought my first NFT - a Hashmask for ~$800. From there it kind of spiraled out of control and my hope right now is that my wife never reads this because she'll have a lot of questions that I cannot answer :)

Below, 'Feeding' by XCOPY

This is going to go off on a crazy tangent but since you asked... I think there's a big generational divide in the tech space. Younger generations are digitally native... they completely got Bitcoin a decade ago and every other blockchain tech that followed thereafter. The older generations, let's say GenX and higher, tend to roll their eyes and these new technologies, but end up getting dragged in kicking and screaming at some point. I think Bitcoin, again, is a great example.

To me that's NFTs. The entire space is where Bitcoin was ~10 years ago, but I expect the adoption period to be far more compressed simply because there are a lot more people who "get" blockchain, so we've removed that friction.

Below: 'Rendez-vous' by Raphael Lacoste

What you are saying makes a lot of sense, and it's funny how similar that "aha" moment was for us both. It was around the same time as you (Beeple's huge splash) that I realized the power of the incoming shift to digital ownership- especially in the generations just below me. It's clear that kids today would rather have Fortnite money than LEGOs- for better or for worse, there is no denying the reality of virtual ownership- we spend most of our social lives online anyway.

Let's touch on that idea you brought up of how quickly adoption is happening- do you think lockdowns accelerated the adoption of these ideas, in a sense, previewing a hyper-digital future? Or is this just the natural progression of exponential technologies? And I guess to add- where does this all lead us?

The marriage between unique digital work and blockchain were inevitable, but there is no question that the lockdowns accelerated this adoption. People at home opening Robinhood accounts and trading their government checks were being introduced to Bitcoin on a daily basis. And Bitcoin is kind of a gateway drug into the rest of crypto and, eventually, NFTs.

As to where does this all lead us, that one is easy: higher. I'm not talking prices necessarily, but the number of wallets. There will be growth for YEARS in wallets coming into the space. As people say, we're so early.

Below: 'Mercenary' and 'Luxury Ship' by Sparth

Well said. Let's touch on the differences between virtual and physical ownership. What does virtual ownership provide as an advantage over traditional ideas of ownership and trade?

Virtual ownership has numerous advantages over physical. For example, you can't break it. It's always in mint condition. Storage is simple. It's for these reasons that I think digital goods will end up "flipping" physical in the medium term.... I predict one day a digital artwork will set an all-time art sale record, for example.

If I own a Picasso and it's sitting in my house, my ability to show that off is largely limited to the circle of people I allow into my house. There is some provenance, likely at an auction house, but for the most part that physical item is limited in scope to my inner circle.

NFTs essentially blow that up. My circle now becomes at least everyone online. Literally millions of individuals who know that I am the singular holder of that work. I would submit that this effect is FAR more powerful than anything we've ever seen in the physical space. And that's just one example of the flexibility of digital vs physical. So when I hear people complaining about not being able to display their NFTs in their homes because display tech sucks, I just shrug because to me that's the lowest form of utility when thinking about digital... we can do so much more. And we will.

Below, Canvas of Life - Yellow by Raja Nandepu and Last Train by Eddie Mendoza

Another perfect phrasing of an undeniable truth. I often say the same- more people see my physical art when I post it on my Instagram stories than if I had to only show it in person. Same for so many items people signal with- cars, watches, handbags- our signaling is mainly online already.

So back to this idea of how this accelerates markets- we have seen a shift that seems to nearly bend time- there is so much happening so fast, I think a lot of it has to do with this frictionless environment you've described. If you want to buy a Picasso, there are likely weeks if not months of hoops to jump through. Do cryptocurrencies and trustless contracts forever change the pace at which markets move? Curious to hear your thoughts on that.

Yes, for one simple reason: friction. Think of all the bullshit one has to endure to buy a rare physical item: appraisal fees, auction house fees, transport fees, storage fees, money transfer fees, escrow fees and probably a few others I've forgotten. And in all of that, the original creator essentially made NOTHING. Not a penny of that Picasso sale, to use your example, went to his estate.

Much of that has changed and almost all of it is permanent. You now have a simple transaction between buyer and seller and, most importantly, the creator takes an ongoing cut. You can do all that on chain for 2.5% on OpenSea. So essentially what has happened is the economic value that we were all giving to the intermediaries is now being distributed between the creator, seller and collector. BTW if I were one of those intermediaries in the physical world I'd be very nervous right now, because NFTs aren't just for digital goods.

Below, Cyberpunk Street by Donglu

Above, 'Double Diva' by Cory Van Lew

This has potential to be the greatest transfer of wealth into the creative community so far in human history. What happens to society when the creative community is given a much larger slice of the pie?

I think you're seeing exactly what happens: a shit ton of artists whose lives have just changed so dramatically they're literally crying on Twitter. And when you empower a creative community like that you get even more creativity. It's a virtuous cycle and we've only just started. Intermediaries have been a yoke around everyone's necks for centuries, and not just in digital art. If you think artists have it bad you should go talk to musicians lol.

Yes- a many sum game, and the DNA of what we are trying to do with ALLSHIPS. Collaboration over competition, empathy and understanding, and a core value of curiosity. Web3 has the potential to unlock a new reality for those willing to participate and learn.

And you are someone who is doing so much to raise that tide, and for that I commend and thank you.

New wallets everyday means new artists and new collectors everyday. As a parting note- any advice for those just waking up to this world? Pitfalls? Ways to engage? Anything at all that might help people understand what we are all about in the NFT space.

I am the last person on the planet that an artist should be asking for advice, but if you're making the jump from traditional art to digital my one piece of advice would be this: embrace the medium. The world just got SO much more interesting for artists because now you can incorporate things like VR, AI, music and motion into your work. Don't be afraid to experiment. Creators are truly amazing people. I wish I were one of them ;-)

Below, Domed city #1 by emanshiu

Any advice for newer collectors?

Yes, start SMALL. As mentioned, my first NFT was an $800 Hashmask. I then proceeded to make a bunch of very stupid mistakes (more Hashmasks, kittens, pickles, etc) until I finally felt like I had somewhat of a handle on things. Rule of thumb: your first 10 NFTs should take up no more than 5% of your overall NFT budget for the year.

Places like Foundation are very good for discovering new artists. Also, make sure you buy something you like because one day you're going to end up sleeping next to it ;-)

Below, The Ambush by smadacrolyat

I think for artists in particular that graphic has a simple message: be patient. I can only imagine how much anxiety there must be in the 1/1 art community when they see Punks and Art Blocks flying off the shelves for millions of dollars while their work just sits there. But 1/1 Art is the long game in the space. It requires work by BOTH artist and collector. So be patient and play the long game, because I truly believe it will pay off down the road, and you're already seeing signs of that playing out.

Batsoupyum, thank you so much for being so generous with your time, and sharing your perspective here today with our wider community. I find your insights well thought out and extremely valuable, and I'm sure others do as well. To the reader, keep up with Batsoupyum by following them on Twitter.

Below, 'In Touch' by osinachi