Newsletter #150: Cultivating Taste

This week’s featured collector is LanaEasteregg

LanaEasteregg uses their Lazy profile to showcase the art they’ve created and collected. Check it out at is the easiest way to create a gallery of your NFT collection. Show some love for NFTs by sharing this newsletter with your friends!


The results of last week’s poll: Which NFT trend do you believe will shape 2024?

According to last week’s poll, Lazy users anticipate that social market dynamics (50%) and a renaissance of creativity (30%) will be the most influential trends shaping the NFT space in 2024. This suggests a belief that community engagement, hype, and innovative projects will drive the market’s evolution in the year ahead. While some expect predictive models to play a role (20%), scholarly recognition and other unspecified innovations were not seen as likely to significantly impact the NFT landscape.

As an NFT collector, if you believe this poll is accurate, you can use this information to guide your strategy in 2024. Focus on projects with strong communities and social engagement, as these factors are expected to drive the market. Keep an eye out for innovative new projects that showcase a resurgence of creativity in the space. By aligning your approach with these prevailing sentiments, you may be able to position yourself to capitalize on the trends expected to most influence the NFT market.

Cultivating Taste in the Age of AI: A Guide for NFT Collectors and Curators

Quotes -Column- Elizabeth Goodspeed-Feb28-5.png

For NFT collectors and curators, a recent article by Elizabeth Goodspeed offers valuable insights into the role of taste in the digital art world. As the NFT market continues to grow and evolve, it becomes increasingly important for collectors to develop and trust their own taste in order to make canny decisions about which pieces to acquire and champion.

Goodspeed’s article highlights how good taste goes beyond simply following trends or relying on AI-generated images, and instead involves a deep understanding and appreciation of the unique elements that make a piece of digital art compelling. By cultivating a strong sense of personal taste, NFT collectors can identify and support artists who are pushing the boundaries of the medium and creating truly innovative works. Furthermore, the article’s emphasis on drawing inspiration from diverse sources and being vulnerable in one’s choices resonates with the ethos of the NFT community, which values originality, authenticity, and passion. As such, NFT collectors and curators will find this article both thought-provoking and relevant to their own journey in the digital art space.

Read the Elizabeth Goodspeed’s essay at It’s Nice That.

Ethereum Gas Fees Soar Amid Crypto Market Surge and NFT Sales

As anyone who has interacted with a blockchain knows, gas fees are charges that users must pay to complete transactions on the network, such as sending tokens, interacting with smart contracts, or buying and selling NFTs. These fees are used to compensate those who provide the computational resources to validate and process transactions. Gas fees are necessary to prevent spam and ensure that the network operates efficiently by prioritizing transactions with higher fees. The amount of gas required for a transaction depends on its complexity and the current demand for network resources.

As cryptocurrency prices, including Ethereum, have experienced significant gains recently, the Ethereum network has seen a steep rise in gas fees. On Monday, the average cost to complete a typical NFT transaction on Ethereum reached $372.29 at certain points, while swapping tokens cost upwards of $220 per transaction. These high fees have the potential to eliminate the value of certain crypto transactions, as the costs could negate any potential profits.

Despite the high fees, the NFT market has remained active, with an anonymous individual purchasing a CryptoPunks NFT for over $16 million worth of cryptocurrency on Monday, marking the second-highest price ever paid for a CryptoPunk.

The surge in gas fees coincides with the upcoming Ethereum Dencun upgrade, scheduled for March 13, which aims to reduce transaction costs on Ethereum layer-2 scaling networks through a new data storage method called proto-danksharding.

As the Ethereum ecosystem continues to evolve, and if cryptocurrency prices remain high, NFT collectors and traders will need to keep a close eye on gas fees before making any transactions.

This week’s poll: How did you primarily develop your taste as an NFT collector or curator?

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