Like many individuals, when I first discovered NFTs I was blown away by what was actually being sold. I couldn’t believe that a group of images or short animations could be worth that amount of money. I did not see the appeal of an NFT profile picture, and I had a hard time understanding why people would spend serious money on images or clips that anyone can download.
Seeing the potential of the technology but looking to modify the use case, I started NFT Concerts. We are currently building out a streaming platform focused on live music performance recordings. Instead of making the recordings public, we make them private and issue a set of NFTs that grant access to the performance recording. Each recording gets its own set of NFTs, allowing artists to monetize their performance through exclusivity. In my opinion, these NFTs offer greater value to their owners than a simple JPEG image.
However, as part of my New Year’s resolution I was determined to learn more about the potential and popularity of NFT PFP collections. While I had been aware and following NFT profile pictures, I decided it was time to finally purchase my own PFP NFT. I discovered the Noodles NFT Collection, one of the first two official derivatives of the immensely popular Doodles PFP NFTs. Having seen the Mutant Ape Yacht Club quickly follow the Bored Ape Yacht Club to the stratosphere, I decided it was a safe first option that was still in my price range.
On January 1, I purchased Noodle #4483. I repurposed an old anonymous Twitter account, updated my username (@jimiseth), and set my Noodle as my profile picture. Seeing that the official @Noodles_NFT twitter account only had 5000 followers, I decided the best thing that I could do to protect my asset would be to help promote the Noodles. I spent a few hours animating short gifs of various Noodles, and within 7 days I went from 10 to over 200 followers due to my Noodle art. I checked the prices of the Noodles on OpenSea about 10,000 times and made multiple direct connections with Noodles owners.
Having been sports fan my whole life, I immediately recognized the feeling of being on a team. I started to feel like I was on team Noodle. I had originally listed my Noodle for sale for almost 3x the purchase price, but as the floor closed in on my Noodle, I felt nervous. I’m on team Noodle and #4483 is my jersey. What happens if my noodle sells and I can’t get another one? What about my Noodle friends? I had dinner plans, but right before going out, I pulled the trigger. I decided to spend almost .01 ETH ($30) to remove the listing. My noodle is not for sale. There are many noodles like him, but he is mine.