Newsletter #156: Blurred Incentives

This week’s featured collector is GrowTye

GrowTye is an AI-artist that uses their Lazy profile to showcase their art. Lots of unusual and thought-provoking artworks 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: If you could commission an NFT from one of these five artists who would it be?

The results of last week’s poll provide an insight into the aesthetic preferences of today’s NFT collectors. The question asks which of five well-known artists they would commission an NFT from if given the opportunity.

The clear favorite among respondents is Jean-Michel Basquiat, with 45% selecting the late Neo-Expressionist painter known for his graffiti-inspired style and raw, emotive works. The second choice, Frida Kahlo at 23%, reveal an appreciation for symbolism-rich art that delves into the subconscious and invites thought-provoking interpretation.

The resonance of Basquiat, Kahlo, Bosch and Sekoto with NFT collectors gives clues to the kinds of NFTs that might find an audience in the future.

An Inside Look at the Controversial Rise of the Blur NFT Marketplace and its Founder’s Vision

In this wide-ranging interview, Pacman, the founder of the NFT marketplace Blur, shares his unconventional path and vision for the future of NFTs.

Pacman recounts his journey as a tech founder, from dropping out of high school to work at a Silicon Valley startup, to starting his own company and going through Y Combinator. He later attended MIT, mainly for the college experience and to find a co-founder, knowing he would likely drop out again to launch another startup.

Before Blur, Pacman and his MIT co-founder built a domain name marketplace on the Handshake protocol, which they sold to Namecheap. This experience directly informed the creation of Blur, as Pacman saw parallels between domain and NFT marketplaces. He was also drawn to NFT trading after personally profiting from flipping a Blitmap NFT in 2021.

Pacman argues that Blur has introduced much-needed market efficiency to the NFT ecosystem, even if some believe it has contributed to accelerating price declines. (This week, for example, the Bored Apes floor price hit the lowest point since 2021.) By enabling whales to exit positions more easily, he contends that Blur provides vital liquidity to the market.

A key topic of discussion that will interest most NFT collectors is Blur’s use of token incentives and rewards to bootstrap the marketplace and drive user adoption. While Pacman believes properly designed incentives that fairly reward user contributions are important, he acknowledges that whales often benefit disproportionately. He also criticizes the manipulative and unsustainable incentive schemes becoming increasingly common in the crypto space.

Throughout the interview, Pacman comes across as a calculated builder with strong convictions about the future direction of NFTs and crypto. While not everyone may agree with his approach or vision, NFT collectors and traders will likely find his insights into the inner workings and philosophy of a leading NFT marketplace valuable and thought-provoking.

Watch the full interview on Remint Reality’s YouTube Channel.

This week’s poll: You can add one of these to your NFT collection. Which do you choose?

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