NFTGo Web3 Builder Talk Episode 1 – Sleepy, Founder of WeirdoGhostGang
Last week, Weirdo Ghost Gang collaborated with DQ and Citadines, a French apartment hotel brand. As a NFT collection known as the “one of the best NFT collection in China”. The team collaborates closely with different brands and holders remain active in various activities. Despite the bear market, the team never stopped building. More and more people are curious about the founder of the collection, Sleepy, and his intentions for both the NFT market and Weirdo Ghost Gang.
Therefore, in this first conversation, we are pleased to have Sleepy, the founder of Weirdo Ghost Gang, sharing his thoughts about the NFT industry and the future plans for Weirdo Ghost Gang.
Q: How do you view the current NFT market?
A: It’s been a while since I last paid close attention to the NFT market. At the moment, I personally feel that there isn’t much worth focusing on from the perspectives of both the investment and sentiment. The current market conditions are rather unfavorable. Both from the perspective of an entrepreneur and an investor, I believe it’s not prudent to continue placing our focus here.
Firstly, from an investor’s standpoint, I’ve always regarded NFTs as leveraged ETH. Additionally, I’m not a fan of short-term trading or constantly monitor the market. In most instances, NFTs tend to amplify my losses. Not only is the price of ETH on a decline, but my ETH holdings are also diminishing. In reality, I believe that in a bear market, there’s really no need to take undue risks. The trading strategy should continue to revolve around “how can I increase my BTC or ETH holdings?” to position oneself for gains in the next bull market. Furthermore, when the next bull market arrives, opportunities can be explored to magnify profits through NFTs or altcoins.
From an entrepreneur’s perspective, it’s essential to fully comprehend the pros and cons of the Web3 market’s scale. While a smaller scale might facilitate rapid establishment of recognition and rapid dissemination of messages within the community, it also poses challenges in maintaining a sustainable model throughout a bear market. I’ve observed numerous startups that haven’t been able to endure the challenges of such market downturns. Hence, entrepreneurs should strive to identify business models targeting broader markets during bearish periods.
Q: Many users believe that the next phase of NFTs will be dominated by Utility. Do you think the PFP model can maintain its continuity in this context？
A: NFTs have always required utility, and I don’t see PFP and Utility as conflicting concepts. Avatars, being one of the most direct and effective ways to rally a community, coalesce around shared utility to sustain vibrancy. These two aspects are complementary, not mutually exclusive.
I understand the rationale behind the issue, as many PFP collections lack utility. Avatar without practical value are akin to meme coins, driven solely by sentiment that often dissipates shortly after launch. On the other hand, utility sustains sentiment. However, I don’t believe that this so-called ‘utility’ compels users to purchase specific NFTs out of ‘necessity.’ I haven’t come across instances where this ‘utility’ is truly ‘indispensable.’ It’s more about demonstrating to the community and observers that the team remains consistently active and the community retains its liveliness.
Q: Why did you want to create a PFP collection like Weirdo Ghost Gang in the first place?
A: I aimed to establish my own brand. At that time, PFP seemed to offer the most viable path for a successful new launch that would allow me to quickly build a brand image, raise startup capital, and form a community – all at the same time.
Q: “Weirdo Ghost Gang” is a highly intriguing name. What was the reason behind? Does the term “Weirdo” hold any particular significance?
A: It can be interpreted as “Weirdo Ghosts.” However, in this context, I opted for the term “Weirdo” and named the NFTs “Lil Ghost,” signifying that “Lil Ghost” and us, the “weirdos,” collectively form this collection. We aspire for our holders to become more deeply engaged within the community.
Q: What are the signals that indicate the market entering a bull phase, and how can one anticipate them in advance?
A: I have never been a good ‘trader’, so my answer to this question may not be of much value. First, there’s an increasing number of optimistic individuals in the market. Second, there is large capital entering the market. Last time, it was large institutions, and this time, it could be Mass Adoption.
I have never been a skilled ‘trader,’ so my answer to this question may be of limited value. However, I see two key factors driving current market optimism:
First, there is an increasing number of optimistic individuals entering the market. Second, substantial capital is flowing into crypto space. The last cycle was institutional money. Now it could be mass retail adoption.
In my view, investor optimism correlates heavily with the macro economy. As crypto matures, it becomes harder to detach from broader economic trends. If the economy falters, optimism around crypto may wane as well.
As for capital flows, mass adoption may be needed to educate more users and channel retail funds into Web3. This could indicate that Web3 is starting to provide utility and content beyond speculation – addressing real needs versus being a bubble.
Q: Currently, in the bear market, Weirdo Ghost Gang have established partnerships with many Web2 brands. How will Weirdo Ghost Gang evolve in the next bull market? Which direction will you focus on?
A: We have adopted a dual strategy to prepare for different scenarios. Firstly, we are expanding our Web2 business by branding and partnering, which will enable us to sustain our development even during the Web3 winter. Secondly, we are waiting for the Web3 bull market to return and will make more attempts in the Web3 field when the market conditions are favorable.
In September, we organized a large-scale event in Shanghai that involved hundreds of offline stores and dozens of brands collaborating with us. This event is expected to significantly increase our visibility in Web2. While we have collaborated with Web2 brands in the past, we aim to make a bigger impact this time, which will help us secure more IP authorizations and brand collaborations in the future.
At Weirdo Ghost Gang, we are biding our time for the next bull market to launch our Web3 initiatives. While we are preparing in advance, we also do not want to exhaust all our resources in the bear market. Despite many projects making Web3 moves in the bear market, we have observed that they have not yielded positive results, regardless of their size. Thus, we prefer to wait for the bull market to launch our initiatives.
Q: What aspects of NFTs captivate you the most? What future applications of NFTs would you be interested in witnessing?
A: The enduring allure of NFTs for me has always been their role as cultural symbols. I hope to see more NFT collections breaking through boundaries. It’s somewhat challenging to assemble a group of individuals intensely focused on cultural development and promotion within the current community, hence, inviting more outsiders to join is essential.
Regarding NFT applications, I believe NFTs don’t require predefined applications; they can be applied anywhere. The pivotal element is humanity. If I were to specify an application, I’d prefer it to extend beyond the realm of finance. My aspiration is for NFTs to generate more social and cultural value than the money earned from a single flip.
Epilogue
Thank you for joining us for this edition of NFTGo’s dialogue series with Web3 builders. We appreciate Sleepy sharing insights and passion for NFTs. It’s been fascinating to learn about the strategic approach of Weirdo Ghost Gang.
We look forward to seeing what’s next for them and how their plans unfold in the years ahead. Stay tuned for our next engaging conversation with another prominent Web3 leader.
