Dr. Parik Patel, CFA: Them NFT tweets

NFT madness including 12-year old traders, $1m+ rocks, OpenSea and Paris Hilton.

Source: Etherrock.com


This is a guest post from one of Twitter’s most popular finance parody accounts: @ParikPatelCFA (you can read more of his work at Bullish Studios)


Hey everyone, I’m Dr. Parik Patel, BA, CFA, ACCA, Esq.

For those of you who don’t know me, I’m a Chartered Fin-meme Analyst (CFA) and Twitter’s most qualified fintwit account.

Anyways, I’ve been told that I have a particular insight into the world of finance, memes and everything in between.

The Hustle has asked me to round up the best tweets I see and — for this issue — it’s all about NFTs.


NFT Madness

Remember a few weeks ago when this Forbes headline about a 16-year old entrepreneur crushing crypto made the rounds? (For real though, mad respect on that Elton John “blue suit” get-up).

A few weeks after that doozy of a headline, CNBC published the story of a — wait for it — 12-year old kid on pace to make $400k trading non-fungible token (NFT) art. I’m shook. 

Imagine being that 16-year old. You’re the belle of the ball then — BOOM! — someone much younger than you steals the shine virtually overnight.

Not only that, he does it trading the hottest asset of the moment: NFTs (as a CFA, I’m obligated to say “not even remotely close to investment advice”).

Anyways, here are some NFT-related tweets that caught my eye. 

(PS. If you don’t know what NFTs are, read this great primer from The Hustle: “Why NFTs are suddenly selling for millions of dollars”).


OpenSea is booming 

For the uninitiated, OpenSea is the NFT-trading platform where most of the crazy NFT (aka JPEG) sales are happening. Half way through August, the platform broke past $1B in trading volume in one month for the first time.

Here’s an even crazier stat courtesy of Web Smith, “In 2020, OpenSea, the world’s biggest NFT marketplace, recorded $21 million in transaction volume. On August 8, 2021 alone, it transacted $79 million.”

This tweet from Litquidity captures it perfectly: 


The rock heard around the world 

Among the most noteworthy NFT deals in the past few weeks was the sale of an Ether Rock (literally, a JPEG of a rock) for $1.3m. This crypto collectible was founded in 2017 and only 100 of them exist.

Even crazier: since that sale on August 23, the floor price — aka minimum amount for one of these digital pieces — is already $2m+. 


Visa enters the chat 

Payments giant Visa dropped $150k on a Cryptopunk NFT. A lot of people were making “oh look at this dinosaur finally getting into crypto” jokes. But, let’s be honest, Visa got a whole lot more than $150k worth of earned media from everyone losing their sh*t on Twitter.


Why are NFT prices going insane? 

This gorgeous meme from Raoul Pal explains it all


What’s next? 

We have no idea, but maybe Paris Hilton interviewing Bill Gates?


Some other funny tweets


Get the 5-minute roundup you’ll actually read in your inbox​

Business and tech news in 5 minutes or less​



How'd Bezos build a billion dollar empire?

In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year.

Data shows where markets are headed.

And that’s why we built Trends — to show you up-and-coming market opportunities about to explode. Interested?