AMA with The Saudis (2nd Twitter Spaces)
Primer: Missed the most recent Twitter Spaces (July 15/16th) for The Saudis community? This is a summary of the key highlights and that includes some interesting statistics for the whales who are holding the NFTs. Catch up on what you’ve missed by reading the summary below.
Unique features of The Saudis
The team is concerned about decentralization and innovation
The majority of the data is stored on-chain and not hosted in IPFS
Very professional dev team who knows what they are doing
The price of The Saudis went up to 1.8 ETH at the top and probably would have gone higher if not for the ‘attack’ incident
The team took care of that matter timely and took back some NFTs to give back to the community
Spent about 15.7 ETH (near $20k USD at the current market price) on the contract for the soulbound token airdrop
Diamonds contracts are used
💡 The EIP-2535 Diamonds is a way to organize your Solidity code and contracts to give them the right amount of modularity and cohesion. In addition, flexible upgrade capability is a key part of it.
Not many free mints would put in this much effort to create something
Innovative tech
The soulbound NFT changes according to day and night cycles.
There is also a music clip that you can listen from the NFT
The Saudis are built differently from the BAYC because the latter is funded by VCs
Most free mint with community mods are just silent but they are everywhere
Statistics of The Saudis
The Saudis NFT had been the top trending on OpenSea for around 5 to 6 days
Blue chip owners of The Saudis
62 Mutant Ape Yacht Club owners bought and holding 129 Saudis
26 BAYC owners owning 70 Saudis
Total of about 300 blue chip owners owning The Saudis
The usual strategy for them is to come in, pump and let go but they haven’t sold any Saudis yet
The number of listing dropped from 1018 to 1007
With a total supply of 5,555, only about 18% of it is listed for the whole world to buy up
Associations and publications
Google search reveals about 3-4 articles on The Saudis NFT like Yahoo and Coindesk
A few people that are with them, including the @Hasbulla_NFT team and @1goonrich
Prince Sonnie does not spend time on things he does not believe in and that will do well
Scams
Community member Ben got scammed by clicking on some links to buy while he is out on holiday
Lost some money from the wallet but he is still bullish on The Saudis and bought more of it
Important to be careful about clicking on links on DMs or Discord, unless it’s verified to be safe
Always use a burner wallet, which is a new wallet with some funds for gas
Keep your valuable assets in a cold wallet and do not interact with them as much as possible
Meme
People initially that The Saudis was a meme
“People initially thought that it was a meme like the Saudis are buying. It brought hope in the times of a desperate bear market where we never went down below all-time highs. People keep asking what exactly are we max bidding?”
- ⬡EARTH⬢
What is Max Bidding?
Max bidding your conviction in crypto, max bidding bitcoin, max bidding NFT, max bidding your bags and the assets you believe in
So “Max bidding” and The Saudis is really like a revolution in the space
“The Saudis is the first project, I believe, in the jpeg land that has implemented an SBT without diluting the initial OG collection so that’s a big win in my opinion.”
- ⬡EARTH⬢
Advice
Tough bear market right now
FED is going on a rate increase spree and it’s not good for the traditional market
Crypto market has a strong correlation with NASDAQ and SPX
Don’t keep looking at the floor price
Not reflective of actual transactions
The whales are buying 30 to 60% above the floor price
Warren Buffett’s philosophy when investing: be greedy when others are fearful
“My golden rule in this space is that anything you put into it, you gotta be willing to go to zero. You gotta be willing to hang on to it… hold it during the shit times and ride it out during the good times, don’t get too greedy and have a level head.”
- Ben Wakely
Marathon, not a sprint
Don’t ask for new announcements every day - takes time to build things and test things out
Need to keep the energy going and sustainable for at least 6 months to a year
Community is everything
“The community wins everything. Together we ride, together we fall.”
- Mr.1400
Even for the BAYC, the price of 28 ETH did not come overnight but happened over a few months
Before the influencers came in, the community was all they need
They are just making monkey noises in the community calls
NFT is not just about money but having fun; if you have fun, the money will follow
Mr.1400 sold 2 Saudis and instantly regretted it after seeing how strong the community is, so he went to get them back at 0.67 ETH (about $700 USD) each
Suggestions
Set up a chat away from the main chat and the holder's chat
More for diamond hands, true believers, who do not want to talk about floor price all-day
Able to have a deeper conversation about the project without all the noise
Entry criteria
Can be 3 Saudis because the maximum one can mint during the pre-mint is 2
Can also be a short paragraph to explain the reasons for being involved in the project
Maybe also a way to verify that a person did not list any Saudis NFT for sale
All information presented above is for educational purposes only and should not be taken as investment advice. Summaries are prepared by The Reading Ape. While reasonable efforts are made to provide accurate content, any errors in interpreting and summarizing the source material are ours alone. We disclaim any liability associated with the use of our content.